DHFL Valuation: When the Facts Change..

Disclaimer: After the Cobrapost expose, there has been a lot of noise around whether the numbers reported by DHFL are genuine or not. While a rebuttal from the Management is expected, as a responsible student of valuation, I ask that you take this post with a mountain of salt. There's a famous quote in relation to Statistical Analysis that goes "Garbage in, garbage out". Put another way, if it actually turns out that the numbers were indeed misleading, then this post would be too. In that regard, I ask that you exercise due caution.

Goodyear India Valuation - A 'Practical Thought' Model for Valuing Equities

In his book "Poor Charlie's Almanac", Berkshire Hathaway's Vice Chairman Mr. Charlie Munger talks about an informal speech he gave in 1996, titled "Practical Thought About Practical Thought?". He warns that not many people understood his talk and it was practically a communication failure. But at the crux of this speech lies hidden a valuation technique that acts a saving grace for those averse to intrinsic valuation methods such as the DCF or the DDM.

Five Below Valuation: Scaling, $5 At A Time

Recently, I was thinking about valuing a company traded outside India and it came to me as a very interesting proposition when someone suggested that I value Five Below. FIVE (NASDAQ) is a chain of discount stores in the US that sells all its products for $5 or below. And does it well.

Harita Seating Systems Valuation: Buying Things Well

Have you ever traveled in Bharat Benz, Volvo or Scania bus? Or for folks who are living / have lived in Karnataka, traveled in a BMTC bus? Chances are, you might have unwittingly used the product(s) of Harita Seating Systems -- a not-so-well-known seat manufacturer.

D-Mart Valuation: The 100 P/E Conundrum

Avenue Supermarts Limited, or D-Mart as it is better recognized, is a curious case. The stock trades on the Indian markets at a staggering P/E of 118. Although absolute P/E levels are nowhere near indicative of undervaluation or overvaluation of a stock, we still have to ask, how much is too much? Today, we will attempt to answer that question.