Viaz Tyres (NSE:VIAZ) Operating Income: ₹44.9 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:VIAZ Viaz Tyres Ltd NSE:VIAZ
80 GF Score
Price ₹67.00
GF Value ₹122.46
Valuation Possible Value Trap
! 6 Warning Signs
View Full Analysis

What is Viaz Tyres Operating Income?

Viaz Tyres NSE:VIAZ 80 Operating Income is ₹44.9 Mil as of Mar. 2026. GuruFocus rates NSE:VIAZ with a GF Score™ of 80/100 and a GF Value™ of ₹122.46 (Possible Value Trap). The stock has 6 warning signs investors should review.

Viaz Tyres's Operating Income for the six months ended in Mar. 2026 was ₹44.9 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was ₹44.9 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Viaz Tyres's Operating Income for the six months ended in Mar. 2026 was ₹44.9 Mil. Viaz Tyres's Revenue for the six months ended in Mar. 2026 was ₹657.4 Mil. Therefore, Viaz Tyres's Operating Margin % for the quarter that ended in Mar. 2026 was 6.83%.

Viaz Tyres's 5-Year average Growth Rate for Operating Margin % was -0.70% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Viaz Tyres's annualized ROC % for the quarter that ended in Mar. 2026 was 12.12%. Viaz Tyres's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 18.30%.


Viaz Tyres  (NSE:VIAZ) Operating Income Explanation

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

Viaz Tyres'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: Mar. 2025 ) + Invested Capital (Q: Mar. 2026 ))/ count )
=89.822 * ( 1 - 5.58% )/( (546.686 + 852.446)/ 2 )
=84.8099324/699.566
=12.12 %

where

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:

Viaz Tyres'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: Mar. 2025  Q: Mar. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=105.784/( ( (112.726 + max(404.714, 0)) + (315.203 + max(323.21, 0)) )/ 2 )
=105.784/( ( 517.44 + 638.413 )/ 2 )
=105.784/577.9265
=18.30 %

where Working Capital is:

Working Capital(Q: Mar. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(304.913 + 138.637 + 22.911) - (34.287 + 0 + 27.46)
=404.714

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(214.44 + 136.135 + 38.76) - (20.718 + 0 + 45.407)
=323.21

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 %:

Viaz Tyres'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 )
=44.911/657.404
=6.83 %

* 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.


Viaz Tyres Operating Income Related Terms


Viaz Tyres Operating Income Historical Data

* Premium members only.

The historical data trend for Viaz Tyres'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.

Viaz Tyres Operating Income Chart

Viaz Tyres Annual Data
Trend Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Operating Income
Get a 7-Day Free Trial 30.30 38.94 42.02 54.15 77.29

Viaz Tyres Semi-Annual Data
Mar20 Mar21 Mar22 Sep22 Mar23 Mar24 Mar25 Mar26
Operating Income Get a 7-Day Free Trial 26.91 12.02 0.00 33.97 44.91
NSE:VIAZ
80GF Score
Viaz Tyres Ltd NSE:VIAZ
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Viaz Tyres 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 ₹44.9 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 ₹44.9 Mil mean?
Viaz Tyres (NSE:VIAZ) has a Operating Income of ₹44.9 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Viaz Tyres and its competitors.
Is Viaz Tyres' Operating Income too high?
Viaz Tyres' current Operating Income is ₹44.9 Mil. Overall, Viaz Tyres has a GF Score™ of 80/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Viaz Tyres' Operating Income compare to ORLY and AZO?
Viaz Tyres' Operating Income of ₹44.9 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 Viaz Tyres and its competitors. Viaz Tyres's current Operating Income is ₹44.9 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Viaz Tyres stock overvalued right now?
Based on GuruFocus' analysis, Viaz Tyres (NSE:VIAZ) is currently considered Possible Value Trap. The stock's GF Value™ is ₹122.46, compared to a current price of ₹67.00 — trading 45.3% below its estimated fair value. The current Operating Income is ₹44.9 Mil. Viaz Tyres' overall GF Score™ is 80/100 with 6 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 Viaz Tyres (NSE:VIAZ), the current Operating Income is ₹44.9 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.

Is Viaz Tyres (NSE:VIAZ) Overvalued in 2026?

Based on GuruFocus' analysis, Viaz Tyres stock appears to be undervalued. The current stock price of ₹67.00 is trading 45.3% below its estimated GF Value™ of ₹122.46. GuruFocus considers Viaz Tyres to be Possible Value Trap.

Key valuation signals for NSE:VIAZ:

  • Operating Income: ₹44.9 Mil
  • GF Value™: ₹122.46 vs. price of ₹67.00 (45.3% below fair value)
  • GF Score™: 80/100 with 6 warning signs

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


Viaz Tyres Business Description

Address Sal Hospital Road, 915/916, Maple Trade, Near Surdhara Circle, Thaltej, Ahmedabad, GJ, IND, 380059
Viaz Tyres Ltd is engaged in the manufacturing of rubber tubes for bicycles, two and three-wheelers, passenger vehicles, and heavy-load industrial vehicles. Its product portfolio comprises bicycle tyres, bicycle butyl moulded tubes, scooter and moped tubes, passenger car tubes, farm vehicle tubes, lubricants, grease, tubless tyre kits, and multipurpose air pumps, among others. The company operates in a single business segment, which comprises the manufacturing and selling of Tubes and Tyres. Its geographical segment is considered based on sales within India and outside India.
80GF Score

Get the complete analysis for NSE:VIAZ

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

₹67.00
Price
₹122.46
GF Value