Forge Auto International (NSE:FORGEAUTO) Operating Income: ₹166 Mil (TTM As of Mar. 2025)

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NSE:FORGEAUTO Forge Auto International Ltd NSE:FORGEAUTO
16 GF Score
Price ₹108.00
! 3 Warning Signs
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What is Forge Auto International Operating Income?

Forge Auto International NSE:FORGEAUTO 16 Operating Income is ₹166 Mil as of Mar. 2025. GuruFocus rates NSE:FORGEAUTO with a GF Score™ of 16/100. The stock has 3 warning signs investors should review.

Forge Auto International's Operating Income for the six months ended in Mar. 2025 was ₹166 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2025 was ₹166 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Forge Auto International's Operating Income for the six months ended in Mar. 2025 was ₹166 Mil. Forge Auto International's Revenue for the six months ended in Mar. 2025 was ₹2,099 Mil. Therefore, Forge Auto International's Operating Margin % for the quarter that ended in Mar. 2025 was 7.90%.

Forge Auto International'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. Forge Auto International's annualized ROC % for the quarter that ended in Mar. 2025 was 14.50%. Forge Auto International's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2025 was 26.57%.

Forge Auto International  (NSE:FORGEAUTO) Operating Income Explanation

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

Forge Auto International's annualized ROC % for the quarter that ended in Mar. 2025 is calculated as:

ROC % (Q: Mar. 2025 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Mar. 2024 ) + Invested Capital (Q: Mar. 2025 ))/ count )
=165.86 * ( 1 - 27.82% )/( (637.689 + 1014.122)/ 2 )
=119.717748/825.9055
=14.50 %

where

Invested Capital(Q: Mar. 2024 )
=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))
=949.417 - 306.489 - ( 5.239 - max(0, 572.934 - 623.29+5.239))
=637.689

Invested Capital(Q: Mar. 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))
=1349.938 - 315.652 - ( 20.164 - max(0, 610.203 - 915.125+20.164))
=1014.122

Note: The Operating Income data used here is one times the annual (Mar. 2025) data.

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

Forge Auto International's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2025 is calculated as:

ROC (Joel Greenblatt) %(Q: Mar. 2025 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Mar. 2024  Q: Mar. 2025
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=172.754/( ( (262.834 + max(284.462, 0)) + (311.865 + max(440.984, 0)) )/ 2 )
=172.754/( ( 547.296 + 752.849 )/ 2 )
=172.754/650.0725
=26.57 %

where Working Capital is:

Working Capital(Q: Mar. 2024 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(238.058 + 355.402 + 22.598) - (306.489 + 0 + 25.107)
=284.462

Working Capital(Q: Mar. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(213.205 + 550.977 + 33.895) - (315.652 + 0 + 41.441)
=440.984

When net working capital is negative, 0 is used.

Note: The EBIT data used here is one times the annual (Mar. 2025) EBIT data.

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

Forge Auto International's Operating Margin % for the quarter that ended in Mar. 2025 is calculated as:

Operating Margin %=Operating Income (Q: Mar. 2025 )/Revenue (Q: Mar. 2025 )
=165.86/2098.943
=7.90 %

* 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.

Forge Auto International Operating Income Related Terms

Forge Auto International Operating Income Historical Data

* Premium members only.

The historical data trend for Forge Auto International'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.

Forge Auto International Operating Income Chart

Forge Auto International Annual Data
Trend Mar22 Mar23 Mar24 Mar25
Operating Income
94.93 98.75 119.14 165.86

Forge Auto International Semi-Annual Data
Mar22 Mar23 Mar24 Mar25
Operating Income 94.93 98.75 119.14 165.86
NSE:FORGEAUTO
16GF Score
Forge Auto International Ltd NSE:FORGEAUTO
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Forge Auto International 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.

For stock reported annually, GuruFocus uses latest annual data as the TTM data. Operating Income for the trailing twelve months (TTM) ended in Mar. 2025 was ₹166 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 ₹166 Mil mean?
Forge Auto International (NSE:FORGEAUTO) has a Operating Income of ₹166 Mil as of Mar. 2025. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Forge Auto International and its competitors.
Is Forge Auto International's Operating Income too high?
Forge Auto International's current Operating Income is ₹166 Mil. Overall, Forge Auto International has a GF Score™ of 16/100, reflecting its overall financial health beyond just this single metric.
How does Forge Auto International's Operating Income compare to ORLY and AZO?
Forge Auto International's Operating Income of ₹166 Mil can be compared against companies in the Vehicles & Parts 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 Vehicles & Parts company?
A good Operating Income depends on the Vehicles & Parts 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 Forge Auto International and its competitors. Forge Auto International's current Operating Income is ₹166 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Forge Auto International stock overvalued right now?
Forge Auto International (NSE:FORGEAUTO) has a current Operating Income of ₹166 Mil. The current Operating Income is ₹166 Mil. Forge Auto International's overall GF Score™ is 16/100 with 3 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 Forge Auto International (NSE:FORGEAUTO), the current Operating Income is ₹166 Mil as of Mar. 2025. 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.

Forge Auto International Business Description

Address Machhiwara Road, Village Mangarh, Kohara, Ludhiana, PB, IND, 141112
Forge Auto International Ltd is an engineering company engaged in forging and manufacturing of complex and safety-critical, forged and precision machined components such as big rings, small rings, big ball studs, gear blank with a broach, stub axle assembly, flange yoke 325 HS, catering to different industry sectors like auto industry including automobiles, tractors, railways etc. and non-auto sectors like agriculture parts, hydraulic parts, striking tools etc. It serves its customers comprising of domestic and global original equipment manufacturers (OEMs) engaged in manufacturing for both the automotive sector and other nonautomotive sector, used across industries by a diversified base of customers.
16GF Score

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

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