Kajaria Ceramics (BOM:500233) Operating Income: ₹7,705 Mil (TTM As of Jun. 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

BOM:500233 Kajaria Ceramics Ltd BOM:500233
90 GF Score
Price ₹1,215.20
GF Value ₹1,350.53
Valuation Modestly Undervalued
! 4 Warning Signs
View Full Analysis

What is Kajaria Ceramics Operating Income?

Kajaria Ceramics BOM:500233 +0.24% 90 Operating Income is ₹7,705 Mil as of Jun. 2026. GuruFocus rates BOM:500233 with a GF Score™ of 90/100 and a GF Value™ of ₹1,350.53 (Modestly Undervalued). The stock has 4 warning signs investors should review.

Kajaria Ceramics's Operating Income for the three months ended in Jun. 2026 was ₹2,181 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Jun. 2026 was ₹7,705 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Kajaria Ceramics's Operating Income for the three months ended in Jun. 2026 was ₹2,181 Mil. Kajaria Ceramics's Revenue for the three months ended in Jun. 2026 was ₹13,281 Mil. Therefore, Kajaria Ceramics's Operating Margin % for the quarter that ended in Jun. 2026 was 16.43%.

Warning Sign:

Kajaria Ceramics Ltd operating margin has been in a 5-year decline. The average rate of decline per year is -2.1%.

Kajaria Ceramics's 5-Year average Growth Rate for Operating Margin % was -2.10% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Kajaria Ceramics's annualized ROC % for the quarter that ended in Jun. 2026 was 21.93%. Kajaria Ceramics's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2026 was 38.84%.


Kajaria Ceramics  (BOM:500233) Operating Income Explanation

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

Kajaria Ceramics's annualized ROC % for the quarter that ended in Jun. 2026 is calculated as:

ROC % (Q: Jun. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Mar. 2026 ) + Invested Capital (Q: Jun. 2026 ))/ count )
=8725.6 * ( 1 - 26.194% )/( (29362.2 + 0)/ 1 )
=6440.016336/29362.2
=21.93 %

where

Note: The Operating Income data used here is four times the quarterly (Jun. 2026) data.

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

Kajaria Ceramics's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Jun. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Mar. 2026  Q: Jun. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=9411.2/( ( (17636.6 + max(6592.7, 0)) + ( + max(0, 0)) )/ 1 )
=9411.2/( ( 24229.3 + 0 )/ 1 )
=9411.2/24229.3
=38.84 %

where Working Capital is:

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(6284.7 + 5649.6 + 255.5) - (3378.7 + 340 + 1878.4)
=6592.7

Working Capital(Q: Jun. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=( + 0 + ) - (0 + 0 + )
=0

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Jun. 2026) EBIT data.

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

Kajaria Ceramics's Operating Margin % for the quarter that ended in Jun. 2026 is calculated as:

Operating Margin %=Operating Income (Q: Jun. 2026 )/Revenue (Q: Jun. 2026 )
=2181.4/13280.8
=16.43 %

* 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.

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.


Kajaria Ceramics Operating Income Related Terms


Kajaria Ceramics Operating Income Historical Data

* Premium members only.

The historical data trend for Kajaria Ceramics'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.

Kajaria Ceramics Operating Income Chart

Kajaria Ceramics Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only 5,041.30 4,691.40 5,696.10 4,802.20 7,095.00

Kajaria Ceramics Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
Operating Income Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 1,432.20 1,715.60 1,577.10 2,211.40 2,181.40
BOM:500233
90GF Score
Kajaria Ceramics Ltd BOM:500233
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Kajaria Ceramics 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 Jun. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was ₹7,705 Mil.

* 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.

Frequently Asked Questions Learn more about Operating Income →
What does a Operating Income of ₹7,705 Mil mean?
Kajaria Ceramics (BOM:500233) has a Operating Income of ₹7,705 Mil as of Jun. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Kajaria Ceramics and its competitors.
Is Kajaria Ceramics' Operating Income too high?
Kajaria Ceramics' current Operating Income is ₹7,705 Mil. Overall, Kajaria Ceramics has a GF Score™ of 90/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Kajaria Ceramics' Operating Income compare to TT and JCI?
Kajaria Ceramics' Operating Income of ₹7,705 Mil can be compared against companies in the Construction industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Operating Income for a Construction company?
A good Operating Income depends on the Construction industry context. However, Operating Income should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Operating Income mean?
A high Operating Income can signal that a stock is expensive relative to its fundamentals. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Kajaria Ceramics and its competitors. Kajaria Ceramics's current Operating Income is ₹7,705 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Kajaria Ceramics stock overvalued right now?
Based on GuruFocus' analysis, Kajaria Ceramics (BOM:500233) is currently considered Modestly Undervalued. The stock's GF Value™ is ₹1,350.53, compared to a current price of ₹1,215.20 — trading 10% below its estimated fair value. The current Operating Income is ₹7,705 Mil. Kajaria Ceramics' overall GF Score™ is 90/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Operating Income calculated?
Operating Income is calculated from a company's financial statements. For Kajaria Ceramics (BOM:500233), the current Operating Income is ₹7,705 Mil as of Jun. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Kajaria Ceramics (BOM:500233) Overvalued in 2026?

Based on GuruFocus' analysis, Kajaria Ceramics stock appears to be undervalued. The current stock price of ₹1,215.20 is trading 10% below its estimated GF Value™ of ₹1,350.53. GuruFocus considers Kajaria Ceramics to be Modestly Undervalued.

Key valuation signals for BOM:500233:

  • Operating Income: ₹7,705 Mil
  • GF Value™: ₹1,350.53 vs. price of ₹1,215.20 (10% below fair value)
  • GF Score™: 90/100 with 4 warning signs

No single metric tells the full story. See the BOM:500233 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Kajaria Ceramics Business Description

Other Exchanges KAJARIACER:India
Address Mathura Road, J-1/B-1 (Extn), Mohan Co-operative Industrial Estate, Opposite Badarpur Thermal Power Station, New Delhi, IND, 110044
Kajaria Ceramics Ltd is a manufacturer of indoor floor and wall tiles. The product range includes ceramic wall and floor tiles, polished vitrified tiles, glazed vitrified tiles, sanitary ware and faucets, and tile adhesives and grout. Kajaria Ceramics' tiles and tile-related products are marketed through a distribution network of dealers and sub-dealers. The company has two operating segments: Tiles and other products, including bathware, sanitaryware, and plywood. The company operates mainly in India, with production and the majority of sales focused there.
90GF Score

Get the complete analysis for BOM:500233

Operating Income is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

₹1,215.20
Price
₹1,350.53
GF Value