Mahindra and Mahindra: Deceleration Accelerates, Plateau Ahead

Mahindra and Mahindra Limited (M&M) has seen splendid growth from F08 to F13, for which it has been appreciated by the Industry veteran Mr. Ratan Tata in 2012, which Mr. Anand Mahindra, Chairman of M&M termed “pat on the back from a big brother”. Surprisingly, the story thereafter suggests that his company sat back on …

Demonetization Paradox: INR 45 Bn Cash In Corporate Coffers And Myriad Patterns Of SBN Disclosures

(For Podcast click here.)The paradox of cash crunch and cash deluge unravels when viewed through the prism of corporate Financial Statements. It relates to those fateful and tumultuous last 52 days of the year 2016 when demonetization of INR 500 and INR 1000 currency notes (called Specified Bank Notes or SBNs) was the sole sound of …

AR DOTS – Ashok Leyland Limited

Auditor red flags SBN Deposits in Hinduja Leyland Finance Ltd Independent Auditor’s Report (Page 155 of AR 2017): “(h) iv. ……..However, the auditor of one subsidiary engaged in financing activities was unable to obtain sufficient and appropriate audit evidence to report on whether the disclosure are in accordance with the books of account maintained by …

Trough Awaits Revenue In Balance Sheets: The First Impact Of GST And Ind-AS Combine

GST – A Bull In China’s Shop

Goods and Service Tax (GST), one the biggest indirect tax reform for which India has waited for more than a decade and most of the Indian corporate as well as global conglomerate, Institutional Investors were curiously waiting to take their bet on Indian economy set off the starting block on July 1, 2017. Incidentally, the …

Proxy Investors

“Proxy Investors” ???  Proxy advisors, proxy voters and proxy sites do ring a bell but the term proxy investor does not for the investors in general. Then, what is this phenomenon and how has it managed to evade the radar of law agencies & the people at large. How on earth can an investor be …

Start-up Valuation – A trick of trade

Is there any trick of trade behind the many eye-popping but hard to believe upward trajectories witnessed in valuations of many e-commerce ventures? E-commerce start-ups, which fail to get going, are a common story. May be, they are not considered worth writing about. Certainly, the rising valuations of many e-commerce start-ups make them the blue-eyed …