Why learn financial modelling theoretically when you can learn it practically — on a real Indian company's real annual report?
Upload a company's financial statements and InvestVerdict turns dense, confusing numbers into a clean common-size analysis, a linked three-statement forecast, 48 ratios explained one by one, and a fair value from the right model for that company — DCF, dividend discount, comparables, a bank model or an IPO — with every assumption taught before you set it. In plain English, never as advice.
Read this before you type. Enter every figure exactly as it is printed, in the units the statement itself states at the top of the page — usually ₹ in Crores or ₹ in Lakhs. Getting the unit wrong is the one mistake that makes every ratio and every valuation wrong while all of them still look perfectly reasonable. Leave a line blank if the statement does not report it; a blank is honest, a zero is a claim that the company had none.
A course shows you a finished model. A simulation makes you build one — on a real company, from its real annual report, with nothing pre-solved.
You read the statements, correct anything that was misread, derive every forecast driver from the figures in front of you, and watch the three statements re-link as you change them. That is the work an analyst does, and it is the only way the skill sticks.
Ready-made statements for listed Indian companies are already read in and checked — Dabur India, Tata Consultancy Services, and more added regularly. Or upload any annual report's statement pages, or type the figures in yourself.
Profit reaching reserves, cash agreeing between the cash flow and the balance sheet, profit before tax opening the cash flow — every link is tested live, and a break tells you which line caused it and where to check it in the annual report.
Five valuation models, each with its assumptions explained before you set them — and each honest about when it does not apply. A discounted cash flow does not work on a lender, and this tells you so instead of producing a confident wrong number.
Click to select, type to edit, drag the corner to fill, Ctrl+Z to
undo. Excel-style formulas work — =R1-R4, =SUM(B5:B9),
=IF(R1>R3,R1,R3) — with row numbers and column letters in the margins.
Schedule III does not print gross profit or EBITDA. Borrowings appear twice under different headings. Trade payables are often a blank heading with the money in the lines beneath. This reads all of that the way an Indian analyst has to.
Anyone who has to put a number on a company and defend it.
Practise three-statement modelling, ratio analysis and DCF valuation on live Indian accounts rather than on textbook extracts that have already been tidied up.
The interview asks you to walk through a model. Build a few here and you will have done it, not watched it.
Stop taking a target price on trust. Work out what the company is worth yourself, and learn exactly which assumption the answer depends on.
Set a real company as an assignment. Every figure traces back to a printed line, so the working can be checked.
Every term below is one you will meet inside the tool — and each one is explained again, in context, at the moment you need it.
A model in which the income statement, balance sheet and cash flow are linked so that changing one figure flows through all three. Profit reaches reserves, cash reaches the balance sheet, and the sheet still balances — if it does not, something is wrong.
Every line shown as a percentage of a base — revenue for the profit statement, total assets for the balance sheet. It lets a ₹200 crore company be compared with a ₹2 lakh crore one.
Earnings before interest, tax, depreciation and amortisation. Indian statements do not print it; it is worked back from profit before tax by adding finance costs and depreciation.
Revenue minus the cost of goods sold. Schedule III does not print it either, and a services company has none at all — its delivery cost is the employee line.
Inventory days plus receivable days minus payable days. It is the number of days between paying for stock and being paid for it, and every one of those days is cash the company must fund itself.
The same measure, and the most revealing single number in working capital. A negative cycle means suppliers fund the business — the strongest position there is.
Days sales outstanding, days inventory outstanding and days payables outstanding. Receivables, inventory and payables each converted into days so they can be compared across years and companies.
Valuing a company as the present value of the cash it will produce. The answer depends almost entirely on two assumptions — the discount rate and the terminal growth rate — which is why both are stress-tested here.
Weighted average cost of capital: the blended return debt and equity holders require, and the rate a DCF discounts at. A small change in it moves the valuation a great deal.
The value of everything beyond the forecast years. On most DCFs it is the majority of the answer, which is why it deserves more scrutiny than the forecast itself.
How much a share moves relative to the market. Listed companies get it from a regression against the index; unlisted ones from a comparable company's beta, unlevered and re-levered for their own debt.
How a bank or NBFC is valued. A lender's money is its raw material, so free cash flow means nothing — its value is book value plus the profit it earns above its cost of equity.
The format every Indian company must present its accounts in. Division I for ordinary companies, Division III for banks and NBFCs — which is why a bank's statement looks nothing like a manufacturer's.
Consolidated includes subsidiaries; standalone is the parent alone. The market values the group, so consolidated is what a valuation should use.
The share of a subsidiary's profit and net worth belonging to outside shareholders. It appears in two places with two different meanings — a share of one year's profit, and an ownership stake on the balance sheet.
Cash from operations minus capital expenditure — what is left after keeping the assets running. This is the number a DCF discounts.
Each one opens with a guide explaining what it is for, and every assumption is taught before you set it.
Read the three statements, correct what was misread, and test that they agree with each other — with Excel-style formulas on every figure.
Every driver derived from the company's own history, with the arithmetic and the inputs shown, and a warning when one looks wrong.
Profitability, returns, working capital, leverage and liquidity — each with its formula, and marked "not applicable" where it does not apply.
Free cash flow, WACC and terminal value, with a sensitivity grid so you can see how much the answer depends on each assumption.
For companies whose value really is the dividend stream — utilities, mature FMCG and the like.
Relative valuation against peers on P/E, EV/EBITDA and price to book, with the traps of each multiple explained.
The right model for a lender, where free cash flow means nothing and book value with return on equity means everything.
Fresh issue versus offer for sale, post-issue share count and what the price band implies about the company.
Slope and covariance methods for a listed company, levered and unlevered beta for an unlisted one, with the NSE data steps written out.
It lets you build a real model on a real company's published accounts instead of watching someone else build one. You read the annual report, correct what was misread, set each assumption yourself, and see the three statements re-link live. Nothing is pre-solved, so the practice is the same work an analyst does.
A formula memorised from a slide does not survive contact with a real annual report. Indian statements do not print gross profit or EBITDA, borrowings appear twice under different headings, and trade payables are often a blank heading with the money in the lines beneath. You only learn to handle that by doing it.
Yes — Dabur India and Tata Consultancy Services are ready to open today, with more added regularly. You can also upload any company's annual report pages, or type the figures in by hand.
No, but the skills transfer directly. The statements behave like a spreadsheet, with the same selection, fill, undo and formula language.
Discounted cash flow, dividend discount, comparable companies, a residual income model for banks and NBFCs, and an IPO model.
No. Everything here is educational. It teaches you to do the analysis; it never tells you what to buy or sell.
Four steps turn a stack of statements into a valuation you can defend — the AI does the reading, you make every judgement, and the tool explains each one before you make it.
Drop PDFs, photos or scans — even split across files or years. The AI reads them natively, including messy scans, and handles Schedule III, consolidated or standalone.
Every figure lands in an editable table beside the line it came from. Anything the model could not name is shown, never dropped — and no extracted amount is ever altered by the tool. Only you can change a number.
Common-size analysis, tie-out checks that prove the three statements agree, then a full three-statement forecast seeded from the company's own history. 48 ratios across every year, each one clickable for its formula, the actual numbers used, and what it means.
Answer three questions and the tool recommends one of five: DCF for a cash-generating business, DDM for a steady dividend payer, Comps for what the market pays for peers, a bank model for a lender, or the IPO screen for a company about to list. A DCF on a bank is the commonest real-world mistake, and this step exists to stop it. Work out beta from real NSE data on the way, then read the answer as a range — Bear, Base and Bull — not a single number.
Every screen carries your data forward, so nothing is retyped and nothing quietly disagrees with anything else. Extraction feeds the model; the model feeds every valuation; and the same cost of equity you work out once is the one used everywhere.
AI reads PDFs, photos and scans into a clean, editable table — Schedule III, consolidated or standalone. Every figure stays exactly as printed; only you may change it.
Common-size percentages, year-on-year movement, and tie-out checks that prove the balance sheet balances and cash ties across all three statements.
A full three-statement forecast seeded from the company's own history — growth, margins, working-capital days, capex, debt. Each assumption is taught before you set it.
48 ratios across every year, historical and projected. Click any one to see its formula, the actual numbers used, and what it means — with the ones that don't apply to your kind of company hidden rather than faked.
DCF for cash-generating businesses, DDM for steady dividend payers, Comps for what the market pays for peers, Residual income for banks and lenders, and IPO for a company about to list. The tool recommends one and explains why.
Don't guess beta — measure it. Step-by-step from NSE data, by regression for a listed company or by unlevering peers for an unlisted one, then it comes straight back into your model.
Built for people who don't read balance sheets for a living.
PDFs, photos and scans → an editable table. Indian Schedule III, ₹ Lakhs/Crores, multi-year merge.
Every line as a % of its base, year by year — the equity-research layout analysts trust.
We tie out P&L, Balance Sheet and Cash Flow, and teach you why each link exists.
Auto observations on margins, cash and debt — and a "What is this?" explainer on every term.
A balancing 3-statement forecast plus 45+ ratios, each with formula, numbers and meaning.
A premium intrinsic-value verdict with India-appropriate WACC and a sensitivity range.
InvestVerdict explains what the numbers mean in plain English — it never tells you what to buy or sell. Built by a financial advisor for ordinary Indian investors who want to understand a business before they trust it with their money.