Disa India (BOM:500068) Operating Income : ₹419 Mil (TTM As of Dec. 2023)

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What is Disa India Operating Income?

Disa India's Operating Income for the three months ended in Dec. 2023 was ₹37 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2023 was ₹419 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Disa India's Operating Income for the three months ended in Dec. 2023 was ₹37 Mil. Disa India's Revenue for the three months ended in Dec. 2023 was ₹610 Mil. Therefore, Disa India's Operating Margin % for the quarter that ended in Dec. 2023 was 6.05%.

Good Sign:

Disa India Ltd operating margin is expanding. Margin expansion is usually a good sign.

Disa India's 5-Year average Growth Rate for Operating Margin % was 2.70% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Disa India's annualized ROC % for the quarter that ended in Dec. 2023 was 7.03%. Disa India's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 67.97%.

Disa India Operating Income Historical Data

The historical data trend for Disa India'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.

* Premium members only.

Disa India Operating Income Chart

Disa India Annual Data

Trend

Dec12

Dec13

Mar16

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

Operating Income

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343.00

328.50

234.10

426.30

303.50

Disa India Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Operating Income	Get a 7-Day Free Trial															8.30	108.70	173.10	100.00	36.90

Disa India 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 Dec. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was ₹419 Mil.

Disa India (BOM:500068) Operating Income Explanation

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

Disa India's annualized ROC % for the quarter that ended in Dec. 2023 is calculated as:

	ROC % (Q: Dec. 2023 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Sep. 2023 )	+	Invested Capital (Q: Dec. 2023 ))	/ count )
=	147.6 * ( 1 - 25.61% )	/	( (1562.4	+	0)	/ 1 )
=	109.79964	/	1562.4
=	7.03 %

where

	Invested Capital		(Q: Sep. 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	))
=	3960.2	-	520.7	-	( 2302.7	-	max(0, 1527.2	-	3404.3	+	2302.7	))
=	1562.4

	Invested Capital		(Q: Dec. 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	))
=	0	-	0	-	( 0	-	max(0, 0	-	0	+	0	))
=	0

Note: The Operating Income data used here is four times the quarterly (Dec. 2023) data.

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

Disa India's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Dec. 2023 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Sep. 2023		Q: Dec. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	315.6	/	( ( (464.3 + max(-414.4, 0))	+	(0 + max(0, 0)) )	/	1 )
=	315.6	/	( ( 464.3	+	0 )	/	1 )
=	315.6	/	464.3
=	67.97 %

where Working Capital is:

	Working Capital		(Q: Sep. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(375.2	+	666	+	60.400000000001)	-	(520.7	+	0	+	995.3)
=	-414.4

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0	+	0	+	0)	-	(0	+	0	+	0)
=	0

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Dec. 2023) EBIT data.

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

Disa India's Operating Margin % for the quarter that ended in Dec. 2023 is calculated as:

Operating Margin %	=	Operating Income (Q: Dec. 2023 )	/	Revenue (Q: Dec. 2023 )
	=	36.9	/	610.4
	=	6.05 %

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.

Disa India Operating Income Related Terms

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Disa India (BOM:500068) Business Description

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Address

26/1, Dr. Rajkumar Road, Brigade Gateway Campus, 6th Floor, Unit No. S-604, World Trade Center, Malleswaram-Rajajinagar, Bengaluru, KA, IND, 560 055

Website

https://www.disagroup.com

Disa India Ltd is an India-based company engaged in the manufacture of foundry machinery and machinery parts. It develops and manufactures a range of metal casting production solutions for the ferrous and non-ferrous foundry industries. Its product portfolio includes DISAMATIC, DISA MATCH and DISA FLEX, among others. Manufacturing and selling of foundry machinery and machinery parts is identified as single operating segment of the company. Geographically the group caters its services in India and overseas markets, of which a majority of revenue is derived within India.

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