Behavioral Finance

June 1, 2026

Title and subtitle of a metrics graphic: Goodwill-to-Net-Worth Ratio: The Forensic Balance-Sheet Test; 'Did Indian companies build earnings or buy them at a premium?' with a four-bar chart: Clean/Organic 8%, Moderate Inorganic 22%, Acquired-Heavy 38%, Roll-Up Risk 62% on a dark blue gradient background.

Goodwill-to-Net-Worth Ratio: The Forensic Balance-Sheet Test That Reveals Whether Indian Companies Bought Their Earnings Or Built Them Organically

How one balance-sheet line — Goodwill on Consolidation — reveals whether Indian companies grew their earnings organically or simply purchased them at a premium. A forensic FY25 walkthrough with an organically-built reference set, including Ind AS 36 impairment-test signals and four common traps.

May 31, 2026

Hero layout showing a left dark-blue panel with the headline 'Days Payable Outstanding: The Working-Capital Ratio That Reveals Negotiating Power or Hidden Liquidity Stress' and a right beige panel containing a bar chart titled 'Illustrative DPO range across Indian sectors (days)' with four bars: IT Services 42, Pharma 78, Mid-cap Engg. 110, FMCG 120.

Days Payable Outstanding: The Working-Capital Ratio That Reveals Negotiating Power or Hidden Liquidity Stress

Days Payable Outstanding (DPO) measures how long a company takes to pay suppliers. Rising DPO can mean franchise-level negotiating power — or hidden liquidity distress. Here is how to tell which, with an FY25 Indian biotech illustration.

May 30, 2026

Borrowings-to-Equity ratio sector benchmarks editorial cover

Borrowings-to-Equity Ratio: How One Balance-Sheet Line Separates Capital-Disciplined Compounders From Leverage-Driven Time Bombs

One ratio. Ninety seconds. The single balance-sheet discipline that separates compounders from NCLT cases — explained with the Titan Biotech FY25 audited illustration.

May 29, 2026

Slide titled Incremental Return on Invested Capital with a four-bar chart on a dark blue background.

Incremental Return on Invested Capital: The Mauboussin-Greenwald Compounder Test That Reveals Whether Every New Rupee of Capital Earns Its Keep

Headline RoIC describes legacy capital; Incremental RoIC describes the most recent rupees deployed. The Mauboussin-Greenwald compounder test, explained step-by-step with audited Indian disclosures.

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