Indian corporate financeFree to read

The Capital Minds

The story behind the numbers

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Do the math yourself.

Amounts in ₹ crore. Change any number and the answer updates.

Tool 01 · Beyond EBITDA

Cash conversion

CFO ÷ EBITDA. How much operating profit became operating cash flow over the same period.

40%
CFO is cash generated from operations, not the change in bank balance. EBITDA is not net profit. Rule of thumb only; compare with the sector.
Tool 02 · Deal Street

Deal multiple

Enterprise value and what the buyer paid per rupee of EBITDA.

Enterprise value
EV / EBITDA
EV / Sales
EV = equity value + debt − cash. Illustrative figures.
Tool 03 · Beyond EBITDA

Working capital cycle

How many days cash is stuck between paying suppliers and collecting from customers.

Receivable days
Inventory days
Payable days
Cycle = receivable days + inventory days − payable days. Use year-end or average trade balances consistently. Payable days use cost of goods as a proxy for purchases.
Checklist

IPO readiness

25 items across financials, governance, cap table and legal.
Scoreboard

Deals decoded

Sortable table of every deal covered.
Glossary

Jargon, translated

Plain-English finance terms.
Archive

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Reading paths and a full filterable list.

Educational tools. Not investment advice.