Case Studies
Financial Modeling
A listed Indian company, in association with a Spanish partner, was evaluating the feasibility of a 40-year contract for supply and maintenance of 100 Vande Bharat Trains. We created a detailed bottom-up financial model, incorporating the ramifications of the Master Service Agreement, terms of supply from overseas partner etc.
A listed Indian company wanted to foray into limestone mining in the Middle East. We created a detailed bottom-up financial model for getting the project report approved by the country’s Ministry of Mines
A VC firm wanted to get a detailed bottom-up financial model for one of its proposed investments in the D2C space. We captured the nuances of the business to create a nimble structure that could be used for Budgeting & Planning as well
A listed material handing company wanted Distressed Debt Funding by Credit AIFs. We created a detailed bottom-up financial model, capturing potential asset sales, divestments, forays into new verticals etc.
A steel company in the SME space wanted a detailed bottom-up financial model for a proposed investment by a Japanese major. We assisted them in FM & Valuation exercise to set a form footing for strategic negotiations on the stake sale
Valuation
A client in the fintech space was transitioning into IndAS accounting. We assisted the client in ESOP Accounting, Purchase Price Allocation for M&A transactions, Fair Valuation of Complex Securities and eventually got the workings cleared from a Big 4 firm as auditor
A client in the IT space had gone for multiple M&A transactions across USA and Australia. We did the Purchase Price Allocation with a quick turnaround time for the US-SEC filings for their proposed SPAC listing
Valuation Compliance under Companies Act and Income Tax for:
-USD 10 mn raise Series B raise by Subko Coffee from marquee investors incl.Zerodha cofounder Nikhil Kamath
– USD 12 mn raise Series A raise by Fasal from marquee investors incl. TDK Ventures and British International Investment (BII)
– USD 18 mn maiden raise by Rare Rabbit from marquee investors incl. A91 Partners, NKSquared
A leading D2C Company has rolled out Management Stock Options (MSOPs) . We ascertained the Accounting Impact for IndAS reporting
A PE funded FMCG Company wanted a Brand Valuation exercise for ascertaining royalty for transfer of Brand from promoter’s proprietorship firm to the company. We undertook the complex exercise applying relevant methods to support the transaction
A minority shareholder wanted a Valuation of its stake in an unlisted subsidiary of a premiere jewellery company. The exercise was undertaken to the due satisfaction of all stakeholders including marquee law firms
Valuation of Cross Currency Swaps for a leading cement player – for IndAS reporting
Financial Due Diligence/Internal Audit
A client in the tech space, with revenues of ~ USD 7.5 mn p.a. wanted a detailed Internal Audit of Order-to-Cash (O2C), Procure-to-Pay (P2P) and Treasury Management cycles . We were able to efficiently conduct this on behalf of the investors, identifying the process gaps, potential areas of improvement and present the same to their investors
For a ~ USD 15 mn M&A deal in the education space, as apart of the Financial Due Diligence, we quantified potential adjustments , amounting to ~2% of the Deal Value (tax litigations, liabilities, statutory non-compliances etc.)
An Indian VC firm wanted to evaluate a proposed investment in Indonesia. We conducted the Quality of Earnings (QoE) assessment for the target and come up with detailed analysis of the same
An investor in USA wanted to evaluate multiple investment opportunities in the tech space – We evaluated the financial model as well strategically evaluated the pitch decks to identify the top 5% of targets.
A multilateral bank wanted support on FDD for a EUR 150 mn loan proposal to a construction major in Turkey, Europe
Sell Side Support for client in the transformer manufacturing space
Acted as FDD Partner for multiple incubators under Startup India Seed Fund Scheme
CFO Services
Revamping MIS and Performance Dashboard at a leading D2C brand
EBITDA Optimization project at apparel manufacturer (USD 25 mn revenues) , identifying opportunities for availing various fiscal incentives
Fractional C FO Services at a leading skincare chain, identifying opportunities for improve operations for cost efficiency.
Pre and Post Secretarial Compliances for USD 2.5 mn raise by Rabiko Lifestyle from Unilever Ventures UK, handling the CP and CS to the transaction set by the investors.
First time implementation of ESOPs, Policy Formulation, Grant Letters, Accounting & Taxation – at a leading IT Company
MIS Implementation & Support at listed power transmission infra company
Handled GST Litigation for leading player in the Asset Management Company (AMC) Space
