Balaji Phosphates (NSE:BALAJIPHOS) Operating Income: ₹178 Mil (TTM As of Mar. 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.

NSE:BALAJIPHOS Balaji Phosphates Ltd NSE:BALAJIPHOS
17 GF Score
Price ₹89.00
! 4 Warning Signs
View Full Analysis

What is Balaji Phosphates Operating Income?

Balaji Phosphates NSE:BALAJIPHOS -0.95% 17 Operating Income is ₹178 Mil as of Mar. 2026. GuruFocus rates NSE:BALAJIPHOS with a GF Score™ of 17/100. The stock has 4 warning signs investors should review.

Balaji Phosphates's Operating Income for the six months ended in Mar. 2026 was ₹57 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was ₹178 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Balaji Phosphates's Operating Income for the six months ended in Mar. 2026 was ₹57 Mil. Balaji Phosphates's Revenue for the six months ended in Mar. 2026 was ₹858 Mil. Therefore, Balaji Phosphates's Operating Margin % for the quarter that ended in Mar. 2026 was 6.68%.

Balaji Phosphates'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. Balaji Phosphates's annualized ROC % for the quarter that ended in Mar. 2026 was 4.55%. Balaji Phosphates's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 10.07%.

Balaji Phosphates  (NSE:BALAJIPHOS) Operating Income Explanation

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

Balaji Phosphates's annualized ROC % for the quarter that ended in Mar. 2026 is calculated as:

ROC % (Q: Mar. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Sep. 2025 ) + Invested Capital (Q: Mar. 2026 ))/ count )
=114.548 * ( 1 - 46.66% )/( (1325.705 + 1362.169)/ 2 )
=61.0999032/1343.937
=4.55 %

where

Invested Capital(Q: Sep. 2025 )
=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))
=1524.124 - 158.669 - ( 39.75 - max(0, 508.111 - 1255.156+39.75))
=1325.705

Invested Capital(Q: Mar. 2026 )
=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))
=1629.475 - 234.326 - ( 32.98 - max(0, 627.407 - 1355.217+32.98))
=1362.169

Note: The Operating Income data used here is two times the semi-annual (Mar. 2026) data.

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

Balaji Phosphates's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Mar. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Sep. 2025  Q: Mar. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=116.828/( ( (130.692 + max(975.823, 0)) + (188.424 + max(1025.177, 0)) )/ 2 )
=116.828/( ( 1106.515 + 1213.601 )/ 2 )
=116.828/1160.058
=10.07 %

where Working Capital is:

Working Capital(Q: Sep. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(615.504 + 514.714 + 85.188) - (158.669 + 0 + 80.914)
=975.823

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(678.769 + 578.353 + 65.115) - (234.326 + 0 + 62.734)
=1025.177

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Mar. 2026) EBIT data.

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

Balaji Phosphates's Operating Margin % for the quarter that ended in Mar. 2026 is calculated as:

Operating Margin %=Operating Income (Q: Mar. 2026 )/Revenue (Q: Mar. 2026 )
=57.274/857.666
=6.68 %

* 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.

Balaji Phosphates Operating Income Related Terms

Balaji Phosphates Operating Income Historical Data

* Premium members only.

The historical data trend for Balaji Phosphates'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.

Balaji Phosphates Operating Income Chart

Balaji Phosphates Annual Data
Trend Mar22 Mar23 Mar24 Mar25 Mar26
Operating Income
73.34 110.09 114.56 124.85 178.46

Balaji Phosphates Semi-Annual Data
Mar22 Mar23 Mar24 Mar25 Sep25 Mar26
Operating Income Get a 7-Day Free Trial 0.00 0.00 68.51 120.30 57.27
NSE:BALAJIPHOS
17GF Score
Balaji Phosphates Ltd NSE:BALAJIPHOS
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Balaji Phosphates 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. 2026 adds up the semi-annually data reported by the company within the most recent 12 months, which was ₹178 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 ₹178 Mil mean?
Balaji Phosphates (NSE:BALAJIPHOS) has a Operating Income of ₹178 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Balaji Phosphates and its competitors.
Is Balaji Phosphates' Operating Income too high?
Balaji Phosphates' current Operating Income is ₹178 Mil. Overall, Balaji Phosphates has a GF Score™ of 17/100, reflecting its overall financial health beyond just this single metric.
How does Balaji Phosphates' Operating Income compare to CTVA and CF?
Balaji Phosphates' Operating Income of ₹178 Mil can be compared against companies in the Agriculture 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 an Agriculture company?
A good Operating Income depends on the Agriculture 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 Balaji Phosphates and its competitors. Balaji Phosphates's current Operating Income is ₹178 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Balaji Phosphates stock overvalued right now?
Balaji Phosphates (NSE:BALAJIPHOS) has a current Operating Income of ₹178 Mil. The current Operating Income is ₹178 Mil. Balaji Phosphates' overall GF Score™ is 17/100 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 Balaji Phosphates (NSE:BALAJIPHOS), the current Operating Income is ₹178 Mil as of Mar. 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.

Balaji Phosphates Business Description

Address 305, Utsav Avenue, 12/5, Usha Ganj Jaora Compound, Indore General Post Office, Indore, MP, IND, 452001
Balaji Phosphates Ltd manufactures and supplies Single Super Phosphate (SSP) in powder and granulated forms, NPK granulated and mixed fertilizers, and zinc sulphate. It sells products under the brand names RATNAM and BPPL to customers, including retailers, wholesalers, and state-owned cooperatives, with farmers being the end users. The company operates in two segments: Fertilizers and Weighbridge. The Fertilizers segment includes the manufacturing of single super phosphate fertilizers. The Weighbridge segment includes the manufacture of weighbridges and annual service maintenance. The key revenue is generated from the Fertilizers segment.
17GF Score

Get the complete analysis for NSE:BALAJIPHOS

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

₹89.00
Price