The Beneish M-Score is the 8-variable forensic-accounting model published in 1999 that flagged Enron in 1998 — three years before bankruptcy. Learn how to compute it from any Indian annual report, and see why Titan Biotech FY25's 103% CFO/Operating Profit, ₹3 Cr borrowings, ₹7.78 Cr contingent liabilities and 14 board meetings sit deep in the 'unlikely manipulator' zone.

A great process can produce a bad year; a bad process can produce a great year. Annie Duke and Michael Mauboussin formalised the discipline that separates them. SEBI's 2025 study shows 91.1% of Indian individual F&O traders lost money in FY24 — a textbook display of 'resulting' at scale. Plus a positive case study of how Titan Biotech's audited FY25 numbers illustrate management process discipline (educational, not a valuation call).

Warren Buffett used Book Value Per Share growth as Berkshire's headline metric for 53 consecutive years from 1965 to 2018. This guide walks Indian retail investors through the formula, the four diagnostic lenses, and uses Titan Biotech FY25 audited numbers as an educational illustration of disciplined long-term equity compounding.