Follow the Money, Carefully: Financial Context for India’s Corporate Graph
The graph can connect verified boards with bank health, company fundamentals, ownership signals, auditors, and subsidiaries—but it cannot turn aggregate data...
Recent Posts
The Connected Machine: What 100 Indian Boards Reveal About Corporate Power
A verified snapshot of all 100 NIFTY 100 boards turns corporate governance into a network: 954 current appointments, 33 multi-board directors, and 17 company...
What Is a Bank Worth? P/BV, Excess Returns, and Why DCF Fails for Financials
Standard DCF breaks for banks: you can’t separate ‘financing’ from ‘operations’ because deposits are the raw material, not just funding. The right framework ...
When the Tap Runs Dry: NBFC Liquidity Risk, the IL&FS Collapse, and India’s Unresolved Interconnectedness
IL&FS funded 25-year infrastructure concessions with 90-day commercial paper rolled continuously. ICRA, CARE, and India Ratings maintained AAA until Sept...
The Two-Number Truth: Operating Ratio, Credit Cost, and Why They Tell Opposite Sides of the Same DCF Story
A lender’s Cost-to-Income Ratio tells you how efficiently the machine runs. It says nothing about whether the machine’s output actually arrives as cash. This...