Blog
April 20, 2026
Warren Buffett's 1986 owner-earnings formula adjusts reported net profit by adding back non-cash charges and subtracting maintenance capex and working-capital needs. Applied to four Indian businesses — Asian Paints, Pidilite, Nestlé India, and Titan Biotech — the arithmetic reveals very different cash-conversion profiles and gives retail investors a more honest lens than reported PAT alone.
April 19, 2026
Titan Biotech disclosed only one primary operating segment in FY25, a quiet but powerful sign that the business remains easier to understand and monitor than many small-cap peers.
April 19, 2026
Titan Biotech ended FY25 with an 11-member board, four independent directors, an independent chair, and 14 board meetings - a governance structure that merits serious attention from long-term investors.
April 19, 2026
Deferred tax can quietly change how reported profit should be read. The line is less about jargon and more about timing, profit quality, and whether management disclosure deserves trust.