Indo Farm Equipment (NSE:INDOFARM) Operating Income: ₹1,401 Mil (TTM As of Mar. 2026)

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NSE:INDOFARM Indo Farm Equipment Ltd NSE:INDOFARM
37 GF Score
Price ₹146.87
! 4 Warning Signs
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What is Indo Farm Equipment Operating Income?

Indo Farm Equipment NSE:INDOFARM -1.36% 37 Operating Income is ₹1,401 Mil as of Mar. 2026. GuruFocus rates NSE:INDOFARM with a GF Score™ of 37/100. The stock has 4 warning signs investors should review.

Indo Farm Equipment's Operating Income for the three months ended in Mar. 2026 was ₹154 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was ₹1,401 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Indo Farm Equipment's Operating Income for the three months ended in Mar. 2026 was ₹154 Mil. Indo Farm Equipment's Revenue for the three months ended in Mar. 2026 was ₹1,340 Mil. Therefore, Indo Farm Equipment's Operating Margin % for the quarter that ended in Mar. 2026 was 11.53%.

Warning Sign:

Indo Farm Equipment Ltd operating margin has been in a 5-year decline. The average rate of decline per year is -3%.

Indo Farm Equipment's 5-Year average Growth Rate for Operating Margin % was -3.00% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Indo Farm Equipment's annualized ROC % for the quarter that ended in Mar. 2026 was 6.59%. Indo Farm Equipment's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 13.36%.

Indo Farm Equipment  (NSE:INDOFARM) Operating Income Explanation

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

Indo Farm Equipment'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: Dec. 2025 ) + Invested Capital (Q: Mar. 2026 ))/ count )
=617.72 * ( 1 - 29.49% )/( (0 + 6612.56)/ 1 )
=435.554372/6612.56
=6.59 %

where

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

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))
=7703.482 - 329.098 - ( 761.824 - max(0, 1513.589 - 4436.683+761.824))
=6612.56

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

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

Indo Farm Equipment'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: Dec. 2025  Q: Mar. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=664.584/( ( (0 + max(0, 0)) + (2314.632 + max(2659.051, 0)) )/ 1 )
=664.584/( ( 0 + 4973.683 )/ 1 )
=664.584/4973.683
=13.36 %

where Working Capital is:

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(0 + 0 + 0) - (0 + 0 + 0)
=0

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(1197.671 + 1791.247 + 142.523) - (329.098 + 0 + 143.292)
=2659.051

When net working capital is negative, 0 is used.

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

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

Indo Farm Equipment'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 )
=154.43/1339.928
=11.53 %

* 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.

Indo Farm Equipment Operating Income Related Terms

Indo Farm Equipment Operating Income Historical Data

* Premium members only.

The historical data trend for Indo Farm Equipment'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.

Indo Farm Equipment Operating Income Chart

Indo Farm Equipment Annual Data
Trend Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Operating Income
Get a 7-Day Free Trial 449.87 501.51 529.04 474.56 458.24

Indo Farm Equipment Quarterly Data
Mar21 Mar22 Mar23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Operating Income Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only 154.17 101.77 97.28 1,047.68 154.43
NSE:INDOFARM
37GF Score
Indo Farm Equipment Ltd NSE:INDOFARM
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Indo Farm Equipment 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 quarterly data reported by the company within the most recent 12 months, which was ₹1,401 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 ₹1,401 Mil mean?
Indo Farm Equipment (NSE:INDOFARM) has a Operating Income of ₹1,401 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Indo Farm Equipment and its competitors.
Is Indo Farm Equipment's Operating Income too high?
Indo Farm Equipment's current Operating Income is ₹1,401 Mil. Overall, Indo Farm Equipment has a GF Score™ of 37/100, reflecting its overall financial health beyond just this single metric.
How does Indo Farm Equipment's Operating Income compare to CAT and DE?
Indo Farm Equipment's Operating Income of ₹1,401 Mil can be compared against companies in the Farm & Heavy Construction Machinery 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 Farm & Heavy Construction Machinery company?
A good Operating Income depends on the Farm & Heavy Construction Machinery 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 Indo Farm Equipment and its competitors. Indo Farm Equipment's current Operating Income is ₹1,401 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Indo Farm Equipment stock overvalued right now?
Indo Farm Equipment (NSE:INDOFARM) has a current Operating Income of ₹1,401 Mil. The current Operating Income is ₹1,401 Mil. Indo Farm Equipment's overall GF Score™ is 37/100 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 Indo Farm Equipment (NSE:INDOFARM), the current Operating Income is ₹1,401 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.

Indo Farm Equipment Business Description

Other Exchanges 544328:India
Address Export Promotion Industrial Park, Phase-II, District Solan, Baddi, HP, IND, 173 205
Indo Farm Equipment Ltd is a fully integrated established manufacturer of Tractors and Pick & Carry Cranes. It also deals in other farm equipment such as Harvester Combines, Rotavators, and other related spares & components. Its facilities are equipped with induction furnaces, pneumatic molding machines, automatic molding line, a sand plant, a fully equipped Metallurgy and Sand Testing Laboratory, a Machining Center, a Gear Shop, a Press Shop, Fabrication Shop, Paint Shop, Assembly unit, Quality Room & Utility room.
37GF 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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