Vibhor Steel Tubes (NSE:VSTL) Operating Income: ₹267 Mil (TTM As of Mar. 2026)

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NSE:VSTL Vibhor Steel Tubes Ltd NSE:VSTL
34 GF Score
Price ₹111.91
! 3 Warning Signs
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What is Vibhor Steel Tubes Operating Income?

Vibhor Steel Tubes NSE:VSTL +0.42% 34 Operating Income is ₹267 Mil as of Mar. 2026. GuruFocus rates NSE:VSTL with a GF Score™ of 34/100. The stock has 3 warning signs investors should review.

Vibhor Steel Tubes's Operating Income for the three months ended in Mar. 2026 was ₹95 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was ₹267 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Vibhor Steel Tubes's Operating Income for the three months ended in Mar. 2026 was ₹95 Mil. Vibhor Steel Tubes's Revenue for the three months ended in Mar. 2026 was ₹3,351 Mil. Therefore, Vibhor Steel Tubes's Operating Margin % for the quarter that ended in Mar. 2026 was 2.85%.

Vibhor Steel Tubes's 5-Year average Growth Rate for Operating Margin % was -1.00% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Vibhor Steel Tubes's annualized ROC % for the quarter that ended in Mar. 2026 was 6.24%. Vibhor Steel Tubes's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 9.53%.

Vibhor Steel Tubes  (NSE:VSTL) Operating Income Explanation

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

Vibhor Steel Tubes'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 )
=381.524 * ( 1 - 38.06% )/( (0 + 3789.352)/ 1 )
=236.3159656/3789.352
=6.24 %

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))
=4390.574 - 305.846 - ( 295.376 - max(0, 1879.113 - 2356.833+295.376))
=3789.352

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

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

Vibhor Steel Tubes'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 )
=327.192/( ( (0 + max(0, 0)) + (1831.139 + max(1600.646, 0)) )/ 1 )
=327.192/( ( 0 + 3431.785 )/ 1 )
=327.192/3431.785
=9.53 %

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)
=(553.14 + 1231.223 + 277.094) - (305.846 + 0 + 154.965)
=1600.646

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 %:

Vibhor Steel Tubes'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 )
=95.381/3351.293
=2.85 %

* 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.

Vibhor Steel Tubes Operating Income Related Terms

Vibhor Steel Tubes Operating Income Historical Data

* Premium members only.

The historical data trend for Vibhor Steel Tubes'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.

Vibhor Steel Tubes Operating Income Chart

Vibhor Steel Tubes Annual Data
Trend Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Operating Income
Get a 7-Day Free Trial 235.75 392.20 406.70 261.85 267.32

Vibhor Steel Tubes Quarterly Data
Mar21 Mar22 Mar23 Jun23 Sep23 Dec23 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 Premium Member Only Premium Member Only Premium Member Only 83.96 77.74 52.80 41.40 95.38
NSE:VSTL
34GF Score
Vibhor Steel Tubes Ltd NSE:VSTL
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Vibhor Steel Tubes 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 ₹267 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 ₹267 Mil mean?
Vibhor Steel Tubes (NSE:VSTL) has a Operating Income of ₹267 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Vibhor Steel Tubes and its competitors.
Is Vibhor Steel Tubes' Operating Income too high?
Vibhor Steel Tubes' current Operating Income is ₹267 Mil. Overall, Vibhor Steel Tubes has a GF Score™ of 34/100, reflecting its overall financial health beyond just this single metric.
How does Vibhor Steel Tubes' Operating Income compare to NUE and STLD?
Vibhor Steel Tubes' Operating Income of ₹267 Mil can be compared against companies in the Steel 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 Steel company?
A good Operating Income depends on the Steel 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 Vibhor Steel Tubes and its competitors. Vibhor Steel Tubes's current Operating Income is ₹267 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Vibhor Steel Tubes stock overvalued right now?
Vibhor Steel Tubes (NSE:VSTL) has a current Operating Income of ₹267 Mil. The current Operating Income is ₹267 Mil. Vibhor Steel Tubes' overall GF Score™ is 34/100 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 Vibhor Steel Tubes (NSE:VSTL), the current Operating Income is ₹267 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.

Vibhor Steel Tubes Business Description

Other Exchanges 544124:India
Address Delhi Road, Plot No. 2, Industrial Development Colony, Hisar, HR, IND, 125005
Vibhor Steel Tubes Ltd is a manufacturer and exporter of Mild Steel/Carbon Steel ERW Black and Galvanized Pipes, Hallow Steel Pipe, Cold rolled Steel (CR) Strips/ Coils. Steel pipes and tubes are used pipes for frames and shafts, steel pipes for bicycle frames, steel pipes for furniture, CDW pipes for shockers, steel pipes for various structural purposes, steel pipes for various engineering purposes, and others.
34GF Score

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

₹111.91
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