Happy Square Outsourcing Services (NSE:WHITEFORCE) Operating Income: ₹64 Mil (TTM As of Mar. 2026)


NSE:WHITEFORCE Happy Square Outsourcing Services Ltd NSE:WHITEFORCE
18 GF Score
Price ₹42.35
! 5 Warning Signs
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What is Happy Square Outsourcing Services Operating Income?

Happy Square Outsourcing Services NSE:WHITEFORCE +4.96% 18 Operating Income is ₹64 Mil as of Mar. 2026. GuruFocus rates NSE:WHITEFORCE with a GF Score™ of 18/100. The stock has 5 warning signs investors should review.

Happy Square Outsourcing Services's Operating Income for the six months ended in Mar. 2026 was ₹40 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was ₹64 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Happy Square Outsourcing Services's Operating Income for the six months ended in Mar. 2026 was ₹40 Mil. Happy Square Outsourcing Services's Revenue for the six months ended in Mar. 2026 was ₹658 Mil. Therefore, Happy Square Outsourcing Services's Operating Margin % for the quarter that ended in Mar. 2026 was 6.10%.

Happy Square Outsourcing Services'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. Happy Square Outsourcing Services's annualized ROC % for the quarter that ended in Mar. 2026 was 15.71%. Happy Square Outsourcing Services's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 28.01%.

Happy Square Outsourcing Services  (NSE:WHITEFORCE) Operating Income Explanation

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

Happy Square Outsourcing Services'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 )
=80.34 * ( 1 - 0% )/( (482.772 + 540.163)/ 2 )
=80.34/511.4675
=15.71 %

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))
=548.148 - 4.448 - ( 60.928 - max(0, 144.786 - 494.487+60.928))
=482.772

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))
=612.487 - 4.754 - ( 67.57 - max(0, 169.937 - 563.658+67.57))
=540.163

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:

Happy Square Outsourcing Services'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 )
=89.048/( ( (10.912 + max(259.114, 0)) + (10.555 + max(355.323, 0)) )/ 2 )
=89.048/( ( 270.026 + 365.878 )/ 2 )
=89.048/317.952
=28.01 %

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)
=(255.82 + 0 + 94.026) - (4.448 + 0 + 86.284)
=259.114

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(424.753 + 0 + 45.914) - (4.754 + 0 + 110.59)
=355.323

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 %:

Happy Square Outsourcing Services'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 )
=40.17/658.366
=6.10 %

* 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.

Happy Square Outsourcing Services Operating Income Related Terms

Happy Square Outsourcing Services Operating Income Historical Data

* Premium members only.

The historical data trend for Happy Square Outsourcing Services'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.

Happy Square Outsourcing Services Operating Income Chart

Happy Square Outsourcing Services Annual Data
Trend Mar23 Mar24 Mar25 Mar26
Operating Income
26.89 62.76 88.62 63.85

Happy Square Outsourcing Services Semi-Annual Data
Mar23 Mar24 Sep24 Mar25 Sep25 Mar26
Operating Income Get a 7-Day Free Trial 0.00 39.61 49.01 23.67 40.17
NSE:WHITEFORCE
18GF Score
Happy Square Outsourcing Services Ltd NSE:WHITEFORCE
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Happy Square Outsourcing Services 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 ₹64 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 ₹64 Mil mean?
Happy Square Outsourcing Services (NSE:WHITEFORCE) has a Operating Income of ₹64 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Happy Square Outsourcing Services and its competitors.
Is Happy Square Outsourcing Services' Operating Income too high?
Happy Square Outsourcing Services' current Operating Income is ₹64 Mil. Overall, Happy Square Outsourcing Services has a GF Score™ of 18/100, reflecting its overall financial health beyond just this single metric.
How does Happy Square Outsourcing Services' Operating Income compare to KFY and RHI?
Happy Square Outsourcing Services' Operating Income of ₹64 Mil can be compared against companies in the Business Services 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 Business Services company?
A good Operating Income depends on the Business Services 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 Happy Square Outsourcing Services and its competitors. Happy Square Outsourcing Services's current Operating Income is ₹64 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Happy Square Outsourcing Services stock overvalued right now?
Happy Square Outsourcing Services (NSE:WHITEFORCE) has a current Operating Income of ₹64 Mil. The current Operating Income is ₹64 Mil. Happy Square Outsourcing Services' overall GF Score™ is 18/100 with 5 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 Happy Square Outsourcing Services (NSE:WHITEFORCE), the current Operating Income is ₹64 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.

Happy Square Outsourcing Services Business Description

Address Nagpur Road, Rajpal Tower 240, Madan Mahal, Jabalpur, MP, IND, 482008
Happy Square Outsourcing Services Ltd is a technology-based consulting firm, involved in tech-based human resource outsourcing business, which focuses on end-to-end solutions. It offers a wide array of services such as Recruitment, Payroll, Onboarding, and flexible staffing. Its comprehensive network, structured processes, professionalism, and work ethics ensure that the company remains at the top on the domestic scale. The company satisfies firms' staffing and recruitment needs in India through its specialized, rich knowledge.
18GF 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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