Focus Lighting and Fixtures (NSE:FOCUS) Operating Income : ₹289 Mil (TTM As of Mar. 2023)

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What is Focus Lighting and Fixtures Operating Income?

Focus Lighting and Fixtures's Operating Income for the six months ended in Mar. 2023 was ₹199 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2023 was ₹289 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Focus Lighting and Fixtures's Operating Income for the six months ended in Mar. 2023 was ₹199 Mil. Focus Lighting and Fixtures's Revenue for the six months ended in Mar. 2023 was ₹1,017 Mil. Therefore, Focus Lighting and Fixtures's Operating Margin % for the quarter that ended in Mar. 2023 was 19.58%.

Focus Lighting and Fixtures's 5-Year average Growth Rate for Operating Margin % was 0.00% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Focus Lighting and Fixtures's annualized ROC % for the quarter that ended in Mar. 2023 was 35.78%. Focus Lighting and Fixtures's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2023 was 71.52%.

Focus Lighting and Fixtures Operating Income Historical Data

The historical data trend for Focus Lighting and Fixtures's Operating Income can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Focus Lighting and Fixtures Operating Income Chart

Focus Lighting and Fixtures Annual Data

Trend

Mar14

Mar15

Mar16

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

Operating Income

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137.33

45.67

-32.62

56.19

288.81

Focus Lighting and Fixtures Semi-Annual Data
	Mar12	Mar13	Mar14	Mar15	Mar16	Sep16	Mar17	Sep17	Mar18	Sep18	Mar19	Sep19	Mar20	Sep20	Mar21	Sep21	Mar22	Sep22	Mar23
Operating Income	Get a 7-Day Free Trial														-3.23	1.47	54.71	89.59	199.23

Focus Lighting and Fixtures Operating Income Calculation

Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.

Operating Income for the trailing twelve months (TTM) ended in Mar. 2023 adds up the semi-annually data reported by the company within the most recent 12 months, which was ₹289 Mil.

Focus Lighting and Fixtures (NSE:FOCUS) Operating Income Explanation

1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Focus Lighting and Fixtures's annualized ROC % for the quarter that ended in Mar. 2023 is calculated as:

	ROC % (Q: Mar. 2023 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Sep. 2022 )	+	Invested Capital (Q: Mar. 2023 ))	/ count )
=	398.452 * ( 1 - 24.42% )	/	( (675.253	+	1007.971)	/ 2 )
=	301.1500216	/	841.612
=	35.78 %

where

	Invested Capital		(Q: Sep. 2022 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	1022.63	-	315.886	-	( 31.491	-	max(0, 540.981	-	809.569	+	31.491	))
=	675.253

	Invested Capital		(Q: Mar. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	1277.518	-	196.036	-	( 73.511	-	max(0, 314.982	-	902.194	+	73.511	))
=	1007.971

Note: The Operating Income data used here is two times the semi-annual (Mar. 2023) data.

2. Joel Greenblatt's definition of Return on Capital:

Focus Lighting and Fixtures's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2023 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Mar. 2023 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Sep. 2022		Q: Mar. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	412.242	/	( ( (153.458 + max(241.36, 0))	+	(223.114 + max(534.858, 0)) )	/	2 )
=	412.242	/	( ( 394.818	+	757.972 )	/	2 )
=	412.242	/	576.395
=	71.52 %

where Working Capital is:

	Working Capital		(Q: Sep. 2022 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(262.504	+	340.035	+	169.783)	-	(315.886	+	0	+	215.076)
=	241.36

	Working Capital		(Q: Mar. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(316.131	+	385.076	+	119.133)	-	(196.036	+	0	+	89.446)
=	534.858

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Mar. 2023) EBIT data.

3. Operating Income is also linked to Operating Margin %:

Focus Lighting and Fixtures's Operating Margin % for the quarter that ended in Mar. 2023 is calculated as:

Operating Margin %	=	Operating Income (Q: Mar. 2023 )	/	Revenue (Q: Mar. 2023 )
	=	199.226	/	1017.267
	=	19.58 %

4. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Operating Income growth rate using Operating Income per share data.

Be Aware

Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.

Focus Lighting and Fixtures Operating Income Related Terms

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Focus Lighting and Fixtures (NSE:FOCUS) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Furnishings, Fixtures & Appliances » Focus Lighting and Fixtures Ltd (NSE:FOCUS) » Definitions » Operating Income

Comparable Companies

Traded in Other Exchanges

N/A

Address

Sonawala Road, Near Udyog Bhavan, 1007-1010, Corporate Avenue Wing A, Goregaon (East), Mumbai, MH, IND, 400063

Website

https://www.pluslighttech.com

Focus Lighting and Fixtures Ltd provide lighting fixtures. The company has two reportable segments namely trading and manufacturing activities. It generates maximum revenue from the Trading segment. The company products include cabinet lights, lighting systems, pendants, recessed, semi-recessed, surface, track, and trimless.

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