Financial analysis involves systematically breaking down business information to make informed decisions, with the core principle being to understand any business model by decomposing revenue into price and volume components. This analytical mindset requires simplicity in presentation, convincing ability to communicate findings, and confidence in decision-making. The process involves identifying objectives, sourcing reliable information (such as annual reports), and applying logical frameworks to derive actionable insights. Two primary approaches exist: bottom-up analysis (starting from granular data like price and volume) and top-down analysis (estimating from market size and market share). Effective financial analysts must trust published numbers, apply common sense to validate assumptions, and recognize that analysis is objective-driven rather than opinion-based.
Class 1 I FAP Online 01 I 18-10-2020Añadido:
okay perfect hi guys good morning this is AIT and I'm a business head with the m first thing first wel come on board for the batch and uh it's a financial analysis Pro degree which is powered by KPMG and the beauty of this program is along with MERS KPMG also delivers almost know 25 hours you know and they will be taking you through the set parameters and set topics and content which they will be also delivering so that's how we are seeing that it's powered by KPMG so guys I sure that you would have you know gone through the message from nikel B who is an m and founder for us and uh this this Slide the slide which is on right now it is actually telling us about why you know how did ticus came into existence right so just to give a give you guys a brief background ofus that's how we are beginning the session so that you arew where you have invested your time and money right so just to give a B background IUS was founded by nickel and Sonia put together and they both come from you know the industry and their world they have World across they have actually work across the globe in their own different domains right so the idea which they came that and this is prevailing as we speak also that we see that there's a gap in the industry requirement and you know what we have on the ground with with the resources so just to bridge that gapas came to existence and all the training program which we are heading towards are actually conceptualized just to make sure that we try to bridge the gap between the expected you know industri expectations on the resources and the resources capability which we actually have on the ground so that's that's how you know the miss our mission also states that improving the quality of human capital to meet the skill skills requirement of the industry so that's that's how we you know started back in 201 or2 and that's how we almost are eight nine years in the system now and of course our our vision is for for for sure that to be a global leader in education for financial analytics and Technology sectors so majorly we are operating at three domains which is finance analytics and technology so we would like to be know renowned as of course top training company in these domains like I said we are operating at Finance technology geographically we are not only in India we are actually in India UA Malaysia and pH so we are expanding this and uh the best part is we are expanding in both the sectors one is of course the retail setup second is a B2B or corporate setup where we are actually training uh you know employees for a lot more bigger corporates as well we talk about India we are actually present in a lot more locations so we are in Delhi kabad chort mostly all the metropolitans you will see marus is present there baring Kolkata as we speak and apart the mention which you see the know names which has the cities which I mentioned this slide we have added couple of more centers also and yes we expanding so we we should see couple of more centers in the list in the next six months so guys anything you feel like it you can definitely check with me I'm the right person to take you through ticus or any any question that you feel like know when we discussing on the slides we can move to the next for so this program is the the slide on there so this program is again it talks about lot more on financial analysis and statements and then you know you have lot more on the corporate policies of company as well so you will see a lot more practical you know application towards the program and again this is this is a weekend program we say 4 hours each on Saturday and Sunday so which brings in almost eight hours a week and of course you know I understand a lot more of us would be working also and I don't know how many of us have actually been you know into training training ourselves or Skilling ourselves so it is going a bit uh you know a new scape I would say for some of us and some of already we have been in the training or transition phase right so it there's nothing new to for you guys so guys one thing now this is an important uh you know slide if you go back uh on your systems so let's talk about feedbacks and issue mechanisms more issue solution right so in the end right so it's all about we have to make sure that is know that training has to be pleasant experience for you guys and it's just not about training content anything that you feel like you would like to hear you know from you guys maybe positive negative whatever it is so right so we have a lot more mediums where you can reach out to us and provide a feedback so we have an escalation Matrix in place you have to reach out to Central governments which is D in here for us and if it's still you know the level escalation level two goes through training manager so whosoever is actually training you guys you can reach out to him if the first escalation you have to ROP it up and then eventually you know you have you can reach out to me as a c or business it and uh you know if it still doesn't go up you can definitely add an email to VK mar.com so guys idea is it can be good bad ugly the feedback we are know we are actually very enthusiastic to to do definitely go by the feedback and we definitely try to resolve the queries also so that's that's the whole line of control which you guys believe in so in the end the idea is yes the this is very important aspect we would like you to you know be vocal about the feedbacks if it is good please let us in that also because that also you know motivates us to go that next level or next Milestone okay that you feel like you want to check on you know that comes to mind I guess like d that that's it uh from the LA perspective right so we'll take it forward from the governance side in the training mechanism and the training content also so I hope that bhar is going to take up this patch so he will definitely take up the training concept for the launch so guys that's it from my side and again like I just leave my coordinates in here so though we will be having a WhatsApp group for the batch and I will be part of that group also anything you feel like you want to you know check out with me or anything you know you can raise a concern there and I will more than happy to come back let's follow Place let's be sure that anything that you feel like you want to check you want you want to give us a feedback maybe on infrastructure you maybe on training or the trainer anything that you feel like please be vocal about that is what we'll definitely uh you know thank you AB sir uh we will shall move for the now for the training methodology guys welcome toaa learning on board uh as discussed uh we uh we need to give you the update for related to the two important points one is your related to the course Journey which is like more grade book and the second is LMS access so I'm going to explain you the two important roles in your uh journey in the marticus so what is grade gr and what grade book helps you so the uh so I so the grade book basically is kind of a report card where we going to see your progress uh on the basis on the modules and we uh assign we Define this grade book into 100% weightage uh so the so I'm going to show you how it is uh with the criteria and the parameters so uh as you can able to see the screen there's a simple Gradebook parameters used for his presentational purpose so uh guys I'm going to explain the step by step so first of all the criteria for the grade book is like attendance second is the level one evaluation of third is level two evaluation fourth is pitch presentation and the fifth is mock so uh these are the criteria of the grade books uh so we Define this criteria into percentages so like attendance which is Take Care by the trainer every weekend Saturday Sunday which is 20% level one exam which is uh evaluation which is 20% level two is again 20% and the presentation again 20% and the mock is 20% so total weightages and 100% so uh this is how grade book uh you know uh uh came into the criteria and the parameters so guys attendance is Take Care by every weekend by the trainer Saturday Sunday and the exams will become come after completing of level one module we're going to take uh take a level one exam which is a written and again in the level two once we complete the level two module then we will going to take again a exam which is also a written exam and the level three we are taking care of your presentation and the mo in the presentation trainer will going to assign you the topic and you need to present the uh present this uh you know present you need to present this uh in the classroom so basically in the uh online platform in front of the class uh classroom session and level three which is sorry level fifth is the mock so uh after completing of all the modules in the end of the uh program we were going to uh align a 101 session with the trainer and he will ask you the questions through the domain knowledge uh either from the level one or two or level three so this is how we are doing a mock session with the students so this is all about the grade book uh we how we Define and after the grade book once the grade book ready I will get to know how it uh looks like but before that do you want any questions any doubt related to the grade book I request in the bat so please uh unmute or use the chat box window uh but please response we want you to be the session very interactive it's not look like keep we play the YouTube video and uh bring the part so I want to be participate from all the uh candidates who are present in the session good afternoon ma'am good afternoon ma'am as you said after level one completion there will be an exam right right will it be online or will we have do we have to come to the any online online it would be online exam so the exams which I'm saying level one and the level two you need to be complete at your home so we're going to provide the written exam and the presentation I'm seeing that a few persons are asking the presentation part so the guys presentation comes in level three module that means end of the modules we're going to take care your presentation and the mo uh once we complete all the topics all the modules you need to present uh trainer will going to assign you the topic and you need to prepare the presentation and deliver in front of the students every uh in front of the class uh this is a pitch presentation and it would be uh we were going to assign a group uh depending on the batch size either three or two or four students and uh the mock it would be individual with the trainer uh will take care of individual Mo with the students any question apart any question related to the grade book apart from the presentation I hope I'm clear the question Yin please ask okay D yes yes wanted to know that by chance if we miss any lecture due to some reason how can we cover it up and how many can we actually do do we have the Gap to miss okay so uh k for example if you're missing any sessions uh see the journey is very long so for there's kind of an emergencies or some certain plans something we can't it's you know comes if you're missing the session so the best thing is that the sessions we are doing in online platform we are recording the session and this recording will be uploaded in our private YouTube channel where you can see the recorded lectures and you know uh Co-op you can you know take the sessions recording from there and uh gone through that in case after having uh after going going through the uh YouTube videos you have some certain doubts any query you need to put me on a mail and I will ask the trainer to assist you on that part but one thing important whenever you are missing the session you make sure that you need to Mark me an email that you are missing a session uh other uh so it make us to you know track uh for yours also which topic you required a help okay yeah and how many lectures can we miss like in the 4 month long program s if I'm if you're asking me so then definitely I would recommend it don't miss any lectures because uh every topic is connected with the another topic if you're missing a session then you need to see the recording on the same day otherwise it would be hamper for the next lecture so example if you are missing a SAT lecture you need to see the Saturday lecture on the same day otherwise you are not able to understand the Sunday lectures okay yeah try to avoid leaves if it's some some you know emergency or something so then take it a leave and then uh if we require any help so you need to reach out to me I will help you accordingly then okay okay sure thank you yeah welcome uh yeah Anna you have some uh doubt please ask uh yeah D hi uh I was wondering if we would get these slides in a PDF format or something after the session so we can revise or go through later if we you know somehow missed some bit during the lecture so you will be getting a uh you know material from RN which is first is the elm ACC second is the W kit and the third is the elm uh sorry or the soft copy of the books so everything will be provided to you over the email where you can can see all the you know ppts and everything in uh in the email so after the completing of the lecture you will be receiving an email to itself oh okay all right thank you thank you welome any other doubt guys related to the grade book because this next slide will be uh related to the grade book only so I do you have any doubt any question related to this slide or shall I move for to the another slide uh Damini hi this is gorov yeah hi gorov Damini do we have the trainer added to the WhatsApp group so that we can directly reach out to him in case of any doubt uh so uh I basically the group is for students and for me only not for the trainer because uh we believe uh you know communication if you help from the trainer part you can go through our write an email to the trainer and Mark me in CC and I need to check with the trainers also if they are comfortable to sharing the numbers or not because uh they're teaching with multiple batches and the most of the trainers are comfortable you know to providing the email ID so for this point I need to check first of all the trainer and then then I can get back to you on this corov okay thanks D yeah thanks anything else guys okay so I'm moving to the next slide which is connected with the uh grade book so uh this is a criteria for sample certificate and the S uh for for the certificate for the criteria and the sample so guys once our grade book is ready so our certificate will be look like this uh so I'm going to Define you the criteria uh how our certificate you know uh looks like after falling into the percentage so the per person who scored 90 and above that means grade A they will be receiving a certificate of excellence the person who fall into 70 to 89 they will be receiving a certificate of uh achievement that means the Grade B and the people who scor 50 and 69% that means grade C they will be receiving a certificate of completion and the person who fall into 49 and below that means grade D they will be receiving a certificate of participation so the person of I we also attach the certificate of ass simple so there's a person who scores 70 and 89 they received a certificate of achievement and all the logos are the mentioned like nsdc skill India skill India and cap PMG animatic and everything is there so this is how our certificates looks like so this is the criteria after completing of all the modules once your grade book is ready then you came into this criteria and then accordingly you will be receiving the certificate from imarticus so uh any questions any doubt from this slide guys yeah hello hello yeah hi n side yes n okay what is what is the time frame you have set for releasing the grades uh certificate like uh you you expect it to complete by February then then within how much period uh you will release the certificates so basically once we come for example once we complete our you know course with the mock and the presentation so we were going to provide you the certificate within a 15 to 20 days of the freame okay yeah thank you welcome any other question guys any doubt anything you want to ask related to the certificate or the criteria okay yeah so I'm moving the slide to the LMS exis LMS is your uh it's a main role of your you know course so basically Els is like a learning portal where you can access 247 and we do have assigned few things for you first is a quiz on LMS for every section second would be our home assignments for practice and knowledge re uh reinforement third uh we we have the semester exams which I told you like level after completing of the level one we have an exams and after level two we have again exam on the level four we have a mock interview to prepare for real interview so in the in the uh in level three we have planned for your resume building session your mock pra uh mock interview practice session also uh level five a student uh will be grade based on the assessments which as I mentioned few minutes back only uh depend on your all the exams in the M we will be uh grade you based on the assignments and the level six that would be certificate will be based on the grades once all the grade once the grade book is ready we're going to provide the uh uh certificates based on the uh grades only so this is uh you know uh the points which are the high highlighted which we having in our learning portal so any question anything you want to uh check from this slide guys uh hello Damini I have a doubt Arjun here I just wanted to I just wanted to ask where uh from where do we uh access this LMS is that the website or you would be sharing the links or I'm going to show you that one in after the completing of the slide and I'm going to explain you how you will be getting and how you need to you know see uh the things where you can find I will going to explain you uh in next 2 minutes only all right thank you thank you welome yeah any other question guys yeah Dom this mock interviews are they essential for uh for the complete batch for the complete individuals yes uh so the mock interviews will be uh for the batch properly so Trader will going to prepare you for the mock interviews part after you know having a session for the preparing for the uh mock interview then we're going to take a one1 session with the trainer and they will check your knowledge on the basis on the modules okay what exactly are you going to prepare the people with these mock interviews So based on the curriculum only uh we're going to prepare you like how the you know uh industry asks the questions and what kind of questions comes in the industry in the companies and they were going to prepare your resume accordingly uh this is how we're going to help you on that part okay okay okay then I'll ping you separately fine yeah yeah thank you welcome uh SN the furthest part uh regarding for the interviews companies well we do have a placement uh Team Member ala in the session we will you can ask the queries related to the placement to uh them only uh first we are covering in the training methodology after completing the training we will move to the placement part section okay uh so guys I'm going to move to uh the lmsx now which is very important and uh you can you can see how it looks like so this is a LMS Exel website uh where you going to and going to you know log in from your laptop or you can also download the app in your mobile so they will ask you uh first your details like username and the password username will be your email ID and the password will be imarticus uh one in imarticus uh I will be the capital letter and after uh and numeric one you need to write so imarticus one it would be a password so once you getting you will be receiving an email from the admin was where we all the details mentioned the URL plus the username and the password and you can log in accordingly so I'm just uh showing you the sample how it's LMS looks like so you can see and understand how what we provided for you in the LMS exess so I'm just writing one of the students ID yeah so this is how LMS looks like so I'm first uh showing you the important points so if you are going to log in in LMS and you have facing any issue related to The Elms part there's a button in above of uh in uh you know in front of the page that with the question mark it's showing a help you need to click click on that button and then you need the option will become contact us then you need to write a email help soever like my email ID Damini at theim article.com and the subject line related to anything like LMS issue you can type and the concern whatever you are facing and then you need to uh select the location if you are from CP you need to click the CP location or com Pune or basically you need to you know choose your Center locations and then you need to submit this query so this is uh how we going to assist you or uh you can directly approach to me the WhatsApp we already created the WhatsApp group where you can message me or you can separately email me I will assist you and guide you through how we uh like uh whatever the help requires so I'm move uh so this is how we already provide you multiple options where you can take uh help from uh from us uh we already available over the WhatsApp group plus over the email and plus over the LMS Tess so guys uh once you're going to enter this is the picture will come like your journey so this is some another module it's showing so uh once you you know login your program you will be able to see your journey the topic will become come and it's showing that user complete 33% of the module in the LMS exess so once you're going to enter into the LMS you then you will be able to see more information like uh the section will be come that Pro degree in finance you need to click on the booklet and then you can able to see uh the topics comes like uh topics will be like financial analyst Excel modeling EV uh exam also there but it's not going to open for everyone now once uh we will going to share this exam once you complete the level one module so you need to click on the first topic which is introduction to financial analyst so see there's a pre-recorded video already there with a multiple topics like introduction to financial analyst PR private Equity P everything so this is how the video looks comes so you just need to play that's it and you will able to see the videos okay uh uh you just need to little bit scroll down more so you can able to see the pp also so there's a present PP is also available like the trainer uh who's going to use in the class you also uh you already have uh in your LMS also so the are the slides with going with uh which going to trainer you know uh run through in the class session so you already have all the material uh second you have also the quizzes option available in the LMS part so as I mentioned in every section of the you know uh topic we already assign up quiz for you guys so you can able to see there's a quiz on introduction to financial analyst we do have a home activity which is a project on financial analysis we do have also for you additional reading in the Elms part so this is how Elms looks like so any question want to ask related to The Elms part uh D many uh this LMS works in the same way on the mobile as well yes definitely it would be you just need to download the LMS app uh in your La in the mobile and from Go Play Store and you need to enter your details and then you able to see your the all right cool thank you welcome any other question guys I can see number of participant but um no doubt no questions I think I'm very clear uh if you have finding a difficulty or any query related to the LMS access or anything if it's your doubt is not coming now you can ask me later also uh you already have my mobile number I'm also available in WhatsApp group you can reach out to me anytime uh now I'm moving to the placement team uh so we can you know uh you can ask your questions to the part as well yeah P you want to ask something okay uh ala my uh the training part is done so I request you to please uh come across to the student batch and uh you can take care of the training part now sure thank you Damini uh hi uh good afternoon everyone uh my name is ala and I take care uh of the placement uh part for you people so as you all know that you have joined the faap which is a placement assistance certificate program so we would be assisting you uh with placements and of course we will be helping you in resume building and mock sessions and the interviews which would be uh taken uh from your end so uh to to uh go through it like firstly I would like to uh welcome you on board and uh then uh on the placement part uh we have a portal called super set where you all am I audible am I audible to all okay thank you thank you so uh we have a placement portal uh where we post all our job openings so uh you guys when you people will finish your second mock you will be eligible to uh get into the placement uh drive like whatever drives we will be sharing so that time I will share you with the link with the things like what needs to be done to get enrolled and how to register that all mail would be shared with you all so to give you a brief about super set which is the placement portal of Matias uh once you get registered and enrolled you will be able to view the openings the opportunities which we share with your batch okay and as it is a assistance program so we would be providing you leads and your superet uh ID would be valid like a superet account would be valid till 6 months post completion of your course so once I get a go ahead from Damini and the training team that your mock has been done your touring has been done everything is there uh from that day onwards it would be 6 months time we would be giving you to get placed from our end in this six months like uh we will be sharing you leads so we have two type of leads one is private lead one is public lead so uh in a month for three months we will be sharing you five leads each month or month on month basis for three months so there would be total 15 leads for three months in which uh three would be your private lead when I say private lead it is with our client who are already like we have signed theou and who are there with us so uh few of the companies if I just name it is like Goldman Sachs JP Morgan D Bank uh BNP Paribas then Standard Chartered RBS daaw so these are some of the companies where we place our student so these are the private lead these leads are from our end our client wants uh they have some openings like financial analyst or financial modelers um maybe um uh like controllers or mod on financial operations so they gave us the request and we shared this leads with you all when I say public lead it is when I'm working with different pters and I see that a particular lead is uh it's it's it's like matching to the profile of all these candidates I share it on superpet and I say that this is a public lead and I shared the link you have to apply to that link okay so likewise there would be like five leads in a month given to you post you finish your course any questions hello yes ask no not K it's Karishma Karishma yeah tell me Karishma yeah yeah I just wanted to know uh the KPMG is it a private one or the public it's a private one KPMG right of course it's a private one it's it's a private lead okay okay that's what I wanted to know thank you also I wanted to know that one uh yeah tell me yeah I to have a doubt ma'am so all in all you are going to share with us 30 leads right leads per month five leads per month for three months and your uh superet ID like the account would be valid for six months 15 leads you would be sharing yes 15 leads for three months and if suppose like um like candidates gets placed but if like there are ifs and Bs so we are there to help you about that is no doubt but it is uh 15 leads for three months all right thank you you okay and also I would like to know from you all that are you only looking for jobs uh for Delhi location or like you are ready to relocate also you're ready with relocation yes no maybe okay pusham you ready to relocate okay okay no worries so uh this is all from my end on placements I am sharing sharing my coordinates with you if you still have any doubt please uh come back to me just drop me a me mail I will reply back to you on the same okay to clear your doubt anyone if they have any doubt please ask me now ma'am if you could please share your email on the chat I'm just I'm just chatting I'm just sharing all right thank you thank you okay uh which city is good for finance Market apart from Delhi of course I will say it's uh Bangalore uh then it's Mumbai uh Hyderabad so these are the cities like where uh you can go g anything else any questions any doubt please shoot out to me no worries we are there to help you out clear your doubts Damini I think uh I'm very clear to everyone and they have understood if by if uh by chance they have any doubt they are always free to come back to me you can also Loop in Damini while uh emailing me and uh so it's a great meeting you all have a great day and all the best thank you thank you D you can take it over from here thanks ala uh thank you guys uh for uh if you have any certain doubts any query related to the placement or the training part please uh approv to us any time over the email or over the phone call or Whatsapp we are there to help you and assist you part now uh we are starting with session with Danish sir who the faculty of uh who will take care of the guest lecture today uh sir I this batch is over to you now okay thanks Damini um actually I was part of your session so I'm now thinking from where to start uh hi guys um good afternoon my name is uh am I uh audible to all of you sir you are Audible and we also getting a response from the students you are audible clearly okay okay okay okay okay so uh I mean so uh Damini can you just confirm how many students are there on this uh um meeting I can see 26 people yeah right okay so including me you uh there are 26 people okay guys um uh okay so uh actually as it is a um I mean launch session where you uh got some idea from Damini abijit U ala uh they are doing their part and they are very supportive as well um I'll begin with one saying that um the best part about the course is uh they're trying to bridge up the gap between education and Industry so uh that is the best thing about this um the course curriculum is designed in a way that maximum things are covered and the uh the criterias are set in such a way that uh you um actually uh you get the maximum benefit out of it okay so uh before uh starting actually um I'm actually believe in a democratic process so would like to make this session um as an interactive session as much as it is possible uh so whenever you have uh any uh query you can raise your voice um I'm going to close the chat box so uh so first before beginning the uh session I would request everybody on this meeting to introduce uh themsel in terms of name education workex and expectation or the idea behind joining this course these are the four parameters I would be interesting in knowing so that we can design this course after your introduction I'll introduce myself because um I your host who is going to take you um through this session um so that's that's I think if on the house everybody agrees with me uh we just start with the introduction so that I know about you and uh make this session or design or make the required changes in this session so that it is um it's it's really going to be helpful for you so that's the reason so can we start from um I mean one by one to uh have your introduction so that you know me and I know you yeah okay H hello yeah yeah this is yeah I am nalen kanduri uh I am a bachelor of technology and I've done it in 2006 I have 14 years of experience in automotive industry uh and uh uh since the area which I'm taking care I'm a regional manager for sales and marketing mhm pan India and the idea to uh do the course into financials is that we are I am basically an engineering background guy okay so I have to make lot of make and shift Arrangements while to understand with the commercials going into the balance sheets and the uh measuring of the business scale so as I I'm going to enter into the leadership soon in the in the coming years so I would like to uh it's very important for for for for Future Leaders to understand the financials of their industry as well as the uh industry outside so the reason that is the reason I'm looking forward to gel myself with my my engineering background and with the financial numbers that I'm going to play with sure sure yeah next one please uh this is Karishma uh hello sir my name is Karishma uh I completed my uh mcom in 2018 and right now I have been working with the international BPO and the idea to join imarticus is just to not just but yeah I wanted to start I want to start my career with the finance sector that's all how many I have 1.5 year of experience and U from this starting I have been working with um BP only okay fair enough thank next please thank you uh good afternoon sir this is madit and I have a total experience of seven years in banking and right now I'm working with access bank as a priority relationship manager so the idea of doing this course is to I I want to start with financial sector more and I want to get the knowledge in financial sector more so that's why I joined this course okay uh okay uh next please hi here so I have completed my MBA in finance only and in August 2020 and my whole uh like I have done my graduation in finance only and then my PG in finance so yeah and uh the main motive to join this um course is to like I want to really know what life projects and what the uh company is expecting from us like the main purpose so that is why I have joined yeah okay fair enough next please so my name is I have done MBA in 2017 I was in retail banking from last uh 2.5 years and the idea behind going through this course is I just want to change my field from retail banking to Investment Banking okay hello yeah and good afternoon sir my name is total I have three and half year experience currently relationship manager I did an equity derivative and mutual funds and I have done MB in finance so the idea is to join MIT learning is to make career in research and op sorry I couldn't get get your name uh there was some uh dist hello yeah my name is s sha total I have a three and half year experience s sha five years of experience and with your three three and half three and half and who is your employer Adit Capital uh um okay and what what is your profile one second one second ma'am yeah what job profile a capital yes I'm in a capital Market uh dealing with portfolio management of customers I deal in hni with retail clients okay sure yeah next please uh good afternoon sir my name is Anna Asim I have two plus years of work in sales I'm working with d Technologies right now and but I completed my MBA in finance so now I'm looking to switch back into a finance role Finance career so to say so which is why I joined this course how many how many years of experience you told uh two years two plus two plus okay yeah yeah so my name is my yeah I'm right now working with pnb Housing Finance I have 1.5 years of experience I did my MBA in finance and Accounting in 2019 okay sir right now I'm looking to switch back to finance because uh I got placed in operations Department okay so I wanted to switch my fieldb yeah hello yeah hello hi uh suan this side uh hello yeah yeah yeah sh go ahead shant is said uh I have done MBA in finance uh from IMT and I have more than 5 years of experience as a finance and account accounts executive uh I just joined this uh organization uh because you know uh now my position is accounts line so I just want to work with Finance analyst as a finance analyst because accounting and finance a different task so as my five of experience accounting I just want to go with next level of Finance so that's why I join this uh organization and uh yeah okay sure sure yeah next please hello hello yeah am I a audible yeah yeah okay hi sha yeah tell me yeah sir uh I have I have done CA inter Plus and I'm working in eix cash company since since three and a half years and I'm handling their accounts payable plus the GST and the TDS thing okay yeah how many okay three years and uh now the reason to uh join Mr basically the reason behind uh joining this course is to enhance my knowledge in this particular field because already I'm in uh uh done this CA inter inter things so I want to enhance my knowledge and just cope up with the marketing Market requirement okay fair enough next please uh hi sir this is gorov 6 so my highest qualification being CER as well as the bcom and I'm currently working with the H Technologies in a US process so uh I'm like dealing into end to end accounting and some regulatory financing for the US market and the idea behind joining is like uh I have prepared a lot of balance sheet now I want to analyze those okay fair enough next please hello sir good afternoon uh my name is Magna Daga I'm a chartered accountant uh I cleared my CA in January only this year 2020 and then from the last three months I'm working with the ly t a s India private Limited which is a branch of deoe us company so we are providing basically Outsourcing services to the US firm and now I want to uh Investment Banking front office roles in uh maybe in a very recognized uh Investment Bank so that is the idea to gain a a skill set rather than just theoretical knowledge in the field of investment banking okay uh what's your current nature of job profile it's audit profile audit and Assurance audit and Assurance okay fair enough yeah uh next please thank yeah hello sir this is please please carry on hello yeah hello yeah yeah ma'am please go ahead yeah hello everyone uh good afternoon sir this is STI Shukla I'm accounts manager in a CF firm sir I want to upgrade my skills to financial analysis as I want to work in a MNC and upgrade my profile now how many years of experience 7 to8 years 7 to8 years but I am not a uh CA okay no issues uh thank you yeah yes sir can I continue yeah yeah yeah so uh hello sir this is Arjun here and uh I have done my MBA in marketing and I've been working with a bank for 2 years uh after which I Was preparing for civil services so uh I'm through with my marketing skills but then uh since I want to get into Finance domain so I just want to have you know a first firsthand knowledge of Finance sector and that's it okay thank you sure uh next please good afternoon sir yeah please go ahead good afternoon sir my name is purushotam I am currently pursuing BBA from Jim Kaji and the reason I chose this course because I further wanted to pursue my career in Investment Banking and buy side and sell side basically okay uh next please hi good afternoon sir Nisha here uh sir I'm working in uh automotive industry for last eight years as a senior Finance executive and uh presently I have joined this course to upgrade my knowledge as well as I'm looking forward for joining some Investment Banking too that's the reason for uh joining this department this go sorry okay sir next pleas are we done with all or um anyone is left yeah I I'll just waiting yeah okay hi everyone I'm kushu I did my pgdm in marketing and finance and after that I got placed with airl but uh I was working as a TSM there and since I've done my graduation in finance I wanted to come back to my finance domain and wanted to do uh have a career in coure finance basically so in total I have a three years of experience two years of experience I work with KPMG also before my uh pgdm okay yeah sure next yeah Kosik hi guys yeah my name is Kosik sir total I have seven years of experience with Accenture Cil and S SMP Global uh education I have done MBA in finance in 2015 I completed uh expectation from this course is like I'm already working in s smpp Global as a senior data researcher and I'm working on a financial statement but uh into the rating Financial operation Department I want to go ahead and move with the financial analysis part uh so to breach that Gap and to have that skill set I've joined this course and the expectation after completing this course I should be in something in the financial analysis part where I can uh where I can use my this seven years of experience plus this gos whatever I'm doing it the same skills got thanks a lot anyone hello yeah hello good morning hi good afternoon sir it's p Gupta from I'm right now I'm working as a senior account executive in empa global Mine Service private limited and my job uh and I'm I'm inter CA and my mcom is completed in 2019 and I'm joining this course for uh growth in a financial analysis uh balance sheet making process is complete but I want to analyze the balance sheet and P in future in the company a good sure yeah thank next I think we are done right all are done uh is there anyone who is left I think we all are done okay uh fair enough guys um good to know about you um the reason behind uh knowing about the profile is I just wanted to understand uh groups composition in terms of uh experience in terms of educational background in terms of expectation largely expectations are going to be same uh enhancement yes definitely um is one of the major driving force for uh upscaling ourself now um okay uh let me um give my introduction my name is dhaneswar bage I'm an analyst a financial analyst the day you start your career in finance domain if you are a researcher then you become an analyst and from day one till you decide to retire now obviously when you're talking about finance and if you can reach to a stage where uh you can take care of your financial goals um definitely um things can change and we can plan for retirement so till that time um it's an analyst so so a financial analyst um I started um I'm an MBA Finance I did my um MBA from Indian Institute of Finance in 2004 since then I've been working with in salside research have an experience of around 16 plus years my core strength or my core uh area of expertise is financial modeling and valuation so I work with an organization uh named uh the Smart Cube It's in NOA uh been associated with this organization for last 10 years 10 plus years catering to um it's an Outsourcing firm catering to clients in investment banking but Investment Banking is one of one of the um I would say um a kind of an area of financial domain where we actually look to work for uh yes it's a big domain um when I talk about Finance it's an otion we all are into it um since day one when I was in college my incl ation towards Equity or in Layman language if I say towards share market or uh you can say that equities was so high that I used to track stocks price when I was in college when I was doing my graduation so since then uh because it was a passion for equities so I got an opportunity to join being in MBA uh mostly uh what we get as an offer from retail Channel Partners banking Partners they largely uh hire people for sales purpose um though they require a finance background to understand U uh the uh integrities of financing um there are a couple of CA one is a new ca who completed uh CA in January couple of CA inters then mcom uh we have uh really seasoned experienced people um like U the guy uh I think nand nandin uh I may not be recalling the name the 14 years experience the guy who is u i mean orinal sales head uh so yes um after so many years of um exposure to equity I still maintain that passion for my inclination towards Equity so what I want to actually stress upon is when we are joining or starting or making a change then what is important is to have passion for that carer yes UPS scal is very much required because after some time you have to evolve and if we evolve in right time then things will fall in line so that's that's way I can say that we all are at the right place where uh what we are trying I'm coming from an industrial back industry background of research uh with an experience of 15 years plus yes I feel when we hire people uh from campus um then in that it takes around three to uh six months for them to get accustomed to the integrities of the requirement uh so that is what actually marticus is doing very um beautifully in terms of bridging that Gap they are supporting um as in at the right point in terms of placement in terms of bring I mean making changes in that before starting the journey uh one thing I would like to I mean um insist you Market yourself because when you Market yourself among your friends your group of people your acquaintances then they start knowing and they can also be one of the source who can get you in a bright place so it takes time but yes when we are starting our career we might get uh whatever is available now when we upscale and make changes in our career then definitely things will fall in line but my one request to all of you is you have to have that passion because U marginal law of utility if you'll talk about you'll do one thing again and again then the uh the marginal utility will going to be decline or diminish with a decaying phase so that's that's what the carer should be building because when we say that I want to be a financial analyst first thing what what what is important is we have to believe in one thing that we all are analyst and that to good analysts do you agree with me that we all people in this group are at least analyst be it any of the analysis we are doing so one thing what I uh want you to be in prepared and be in your mind that we all are analyst and that to good analyst is there anyone who says that he is not even an analyst I mean uh is there anyone in this group who has any doubt that whether he is an analyst or or uh not I'm putting a question to you no sir so um I mean think twice that's not I mean if you have have any doubt in your mind then then then you have to come up to the stage that and start believing that you are analyst and you are not only analyst you all are good analysts because I'm not asking you to have a degree in finance to become an analyst it's all about mindset that's what I always prefer to uh prefer people to start thinking in that fashion the moment you will start or step into the shoes you will start realizing that half of the battle is already done the moment you start taking decisions what what an analyst is going to do analysis analysis is done based on the information available to you and once you analyze an information you're not going to keep that with you that information which it's a process so you get some information you analyze it I'm not talking about Finance now Finance is totally out of this context right now because first my when I started my career uh there was nobody to teach there were no courses available in Market even uh when I started my job day one I never experienced Excel computer was not there right now um mobile has so many so many functions that you can have everything on your mobile so in in the last 15 years of Journey what helped me to always motivated towards my career is my passion towards the field so as an analyst I was I'm sure that I'm an analyst results decide about the decision not about the analyst first start believing that we all are good analysts because we all take so many decisions in a day those decisions are not taken or forced or blindly you decided something it's all about analyzing an information which could be deciding about nowadays Fashion Week is going on oh sorry billion uh Day sales are going on so when you decide about buying a product you analyze what all products are available then you process that information once you process that information you you you think that that there are so many parameters on which you test that once things are done you decide and zeroing your decision and once you take that decision that decision analysis gets complete when you decide or take a decision so what is important is what is important is your processing of information and if you have capability to process the information or analyze the information and take best suitable decision at a given point of time mind it when I'm using particular words language is very important I mean I'm not here to create a Chinese wall between a doctor and a patient but I want to uh tell you or want you to change your mindset in a way that you can understand things in a simple way because once you understand things you will then only you will analyze and once you analyze then then you will be able to take a decision so it's a process an analyst's role is to analyze don't go by the name of it it's not the literal meaning because it's all about the information and if if the information is coming from different Source you might have to sanitize that or you might have to make that information comparable and once all parameters are compared I mean like apple is compared with apple then only you will be able to take the best possible decisions decisions are always not right or wrong and the beauty of industry in which we are going to work is that there is nothing wrong nothing right if you can prove your point you are the one who actually might be successful I used to work with an analyst who gave sell recommendation for Apple when they launched iPhone and he got fired in three months because from there a new phase started and he was well-known analyst you can do research he was with Morgan Stanley and uh so it's not about that he was wrong but the information or the parameters on which he was analyzing things was giving him a total different view so in our industry we actually analyze information so most important thing is to believe in yourself that we all are good analysts so once you agree that we all are good analyst then we need to finance is just just a kind of information which you're going to process I think you all agree with me so far or uh if any is there anyone who contradict I I'm happy to get involved into the discussion so that a new Prospect can also be brought in from a very different thought process so if you um agree with me that we all are analy and there are certain attributes which are required for an analyst Finance domain it's a domain specific thing but information is something which what you get if you get a different type of information if you tomorrow you decide to buy a car then the data which you are analyzing is going to be totally different am I right so far be a little louder yeah it's an interactive session I don't want to yes sir so so that is what my first main point whenever I mean I have been associated with uh M for last two years uh since then whenever I uh start up a batch I want everyone to start thinking that they are good analyst from day one because we have decided so many things and those things have been good for us that is what very is very important because if change the thought process then your analysis will become more precise more refined so that your you can quickly take this that experience matters if we are all are coming from different background it does that you have to be a you have to from a finance background or you have to be an MBA Finance is one only one type one particular type of information which you are going to process and believe me if we read one annual report I'm asking you or giving you a task before coming to the next session just go download one of the annual report of any company just look at it what all information is there it's written in in normal English language which can be understood by anyone you don't need a degree for that that's what my focus is if we are coming from a technical background then that has a very different uh Prospect when he's going to understand the annual report things are standardized set it just we should from where what we are going to get it so this is what all about analyst now if we say uh what all qualities do we need to be become a good analyst or a financial analyst because once we analyze information we take decision and we don't take decision for ourself so when we don't take decision for ourself if it is for ourself then we are the one who if we are convinced we have decided that yes this is the out this is the best possible uh thing which we should do then you're not convincing anyone but we are working for clients so when we are working for client then things should be in such a way or communicated or discussed in a way that it has been it has to be understood by the other people so don't think from a point of view that will create something which is very complex if right now the mobile which you guys are using it's touch I mean you don't don't don't need any degree to operate mobile uh I think around two years of kid will be able to operate this so that that is why uh because the models or the smartphones are buil in such a way that it has to be easy to handle so first thing which we always try to do is things should be simple so Simplicity is the best policy which is a very good saying from old days try doing things with simple Prospect another one is you have to have convincing ability if it is simple presented in chronological order logical flows are there numbers are flowing properly meaningful numbers are there then only you can convince others otherwise what will happen you will present something if it is cumbersome nobody will have interest so when we are working for somebody else what is important is to make things simple and things can be made simple only when you have command on the subject or not only subject about good understanding about the content so ultimately it boils down to the level of analysis done by you and how much indepth knowledge you have about the subject so that is what what is important forget about anything first believe in yourself that you are a good analyst and the good analyst is the one who can convince others that whatever I'm saying people should agree with me so only simple things things can be um understood by everyone so first the mindset should be such that you are con should be confident enough to decide and tell somebody because once you say something it should be filled with confidence then only anyone will listen to and if you talk about simple things it'll be easy to understand so these two three things believe in yourself though it seems like a veryan but why I'm stressing on this thing because I have seen people people want to create something so that everybody should praise yes if you make it simple then also people will understand and praise so and expectations should be met in that direction because people come from different background they um our education gives you an idea but the application of that idea becomes a challenge so when you know something I'm when I started my career uh I never took any professional training it was just an experience uh based on my experience and I always try to follow the proper logic if it makes sense to you then only you will be able to convince to others that is what we are trying to tell you that first understand or analyze if you analyze and present in a simpler form then only it will be understood by the others we um why it is important to present in a simpler form is because it's going to be used by somebody else you may not be around when the guy is going to work I work with us clients it's a 13 hour time difference if I send something around 9900 p.m. in the night and my client doesn't reply um immediately then it's a more than 12 hours Gap when I'll be available so that's why things should be presented in simple form and it should make com it should be it should be simple and it should be things like common sense if you apply your common sense analyze things and present in simple form things will fall in line it's it might be a very technical language related to a chemical or a Pharma company but that you can understand that you can read about but the processing of information is only possible when you understand things so that is what my first idea or always want you guys to start thinking from a analytical point of view yes we are into the accounting background many of us are accounting background but we never ask questions so the best to uh to start your analysis is ask questions I'll give you one very simple example if I start covering a company then the basic thing which I does I do is to write questions about that company be it what is the name what what the company is doing write all all the list of questions answer them you start you will start understanding about the company and basic stuff starts from very simple from very simple things so that's what um you will get content read about that you have LMS access there are videos over there if you are not clear listen to the video read about the content the the content which is provided in terms of pp or in terms of um a handbook those are actually a ready Rea you can refer back but the level of understanding will be yours how fast you can recall so becomes a very important thing because uh we are working for different clients when we are working for different people then things has to be presented in such a form that it makes sense to others so these two parameters of a good analyst will help you going forward information is information be Financial be any other um category which which you are processing so ultimately you have to decide or take a decision based on your analysis or the information which you are doing and you have to convince others so that is something which also becomes very important and when we say that you to convince it becomes sometimes becomes becomes a negotiating uh stuff because everybody is not going to take that what you have analyzed or you have produced in the simpler form people tend to ask questions if they're clear then they don't ask and if they're not clear they will definitely ask questions I hope am I clear so far if somebody has some Prospect which they want to add it's it's an open house you can add your points anyone anyone who wants to say something or has any uh question which which or any doubt shall I proceed so yeah actually yeah I don't have a question I just want like uh when I was doing an internship so I have done my internship in financial analys okay so uh there I was so there I was doing like the comparison between the two companies or with I am dealing with and the other companies so yeah that is the whole process we do in the financial analyst like comparison of the profit and loss and balance sheet or annual reports so that is it we do in the financial needs yes um up to a large extent yes but what is important is what is your objective if your objective is um your see uh analysis is done to take decision but that those decisions are backed by some objective if I give you a mandate whether to invest in Reliance or not so that is an objective when you are analysis for Reliance then every anything and everything which should be part of your analysis will become part it's an open-ended thing there is no boundaries to it it's only time how much time is given to you to analyze one thing if I ask you that I want your report to be done in a day then you you have only only 8 to 10 hours so your level of depth will be defined by the time provided to do that research objective is very important when you say that financial analysis those are the tools comparison is one thing I'll give you one very small example and make it a point how valuations are done so the point here is we all are working and um if on a very fine day you decide that I want to buy a property right we all are working we everybody wants to build house in if somebody has house they will invest in so the objective is to buy a property now what will happen I stay in faridabad I know on only about the area in which I live in then from where you'll get that information you'll go to property dealer they are actually the source of information you he will show you he or she will show you couple of properties that these are available and will give you an idea this a property has a price of 50 lakhs another one has 70 all properties are not identical and once you have visit the property uh you make your view lot of other subjectivity comes into location pricing is decided based on the qualitative factors how it is located Metro how how far is the Metro how um what is the vicinity like how many malls are nearby um what type of transport mode are there so all those things are built in the price but those things if somebody tells you this property is for 50 lakhs you don't buy immediately you need to do your analysis what you are going to do you going to check I mean for the sake of argument you might ask um how many properties got uh transacted in last 6 months based on that you have some numbers whether um I mean what is the average rate the size might size might be different if you're looking for a, 1500 square yard square feet flat then per square feet rate is important in one area it might be uh 5,000 rupees uh per square feet or in another um locality which has better uh developed property might have 10,000 rupees per square fet so that that way you start comparing things and then based on that you decide whether first the property should be lighted by you you decided that you want to buy a property you lighted it then you anal you try and look for the whether the price is reasonable or not being an Indian we all are value buyers okay so you saw you you had in properties the size was different use checked for thousands I mean the price which was quoted was for th square fet,000 square feet flat but you're looking for a 1500 square fet the larger is the size so so what do you want you want information which will help you in understanding what could be the ideal price for a property which you have fin ized then once you understand that this should be the appropriate price or the value which you have calculated then only you will talk to somebody that no no if you're asking for something which is higher than what you think should be the reasonable price or the amount for that property what you did you compared when you compared you were actually doing a relative valuation when you are looking in history that how many trans has happened you're looking for the transactional details if it's a new Builder and they uh then you can't go and look for the transactional thing it's all about that how much rate in that vicinity whether that Builder is charging premium or doing things with a in comparison with the market so that is all about doing a valuation it's it's a type of a Val you pick a company you're doing same thing so when you're doing this type of relative valuation it's the process you need to Source information if it is an equity you will Source from um nsse website or exchanges or whatever data data is provided by Bloomberg cap IQ icon so so my point here is if you're clear that what is your objective if your objective is clear then you start sourcing your information and based on the available information you take a decision and once you take a decision then only um some conclusion is done am I making sense right now yes sir okay so my point of view I'm not talking about very Jazzy uh words where I'll be asking you that we do transactional analysis and trading and transaction comms are looked into and we decide about how much premium is given to that that stuff I'm just talking about it's the thought process when you start I mean the whatever I'm telling you we are practicing this thing since we started taking decision for ourself getting my point so I'm not talking about anything which which is beyond this thing yes uh there are tools to do that if you understand um 3idiot I think everybody has seen yes sir right so whatever message was given in that movie was to make things simpler don't complicate things information is something which you have to sort what you need to know from where you'll get that information so one for at one particular instance if you talk about equities you might first source of information is from the annual report so that we call as a fundamental information that is totally different uh it's it's a very basic example how we do valuation and if it is a quick and dirty and um valuation then relative valuation is the major tool used for for that you have to decide one parameter on which you can compare and we have that so much of flexibility in our industry I'm talking about financial research industry uh because I'm day and day out uh I mean sleeps wakes do whatever but my always um interest is to get the information and give a thought to it if it is good then it is fine I decide out and then I um invest in equities I don't invest in mutual fund sorry because I um I think I if I should take decisions for myself whatever outcome is going to come is my decision yes people are there are very good intelligent people Rakesh junjun Wala many people are there they have made so many um huge amount out of equities they did their research Rakesh junun has a team of more than 60 analysts doing research for him in and out they present their case to uh him and he is the ultimate decision maker but once analysis is complete it is presented in a right way to him and he decides whether he should go with it or not that is something his his discretionary decision but the process is same so once you understand the process and believe that your analysis is right you will be able to convince others so things are very simple follow your common sense are really really simple there is no need to complicate it's just you have to gain your um knowledge because that will help you in supporting your argument that's that's the Crux of research you all I think you will be going to believe or think like and financial analyst once you're done with this two or three hours session that I think we are into this uh for close to two hours um I request um let's take a break of 10 minutes 10 to 15 minutes and come back and then properly I'll I'll take you through few of the concepts or few of the um Ways by which we do research and we reach to a final conclusion uh so let's take a break of 105 it's 14 145 so let's meet at two um shop um I'll request to join two three minutes before one once then I'll be talking about all other nities about this course and try to give you uh what is there in the course and how it can be used so okay excuse me sir I think started around 12 and I actually joined only an hour back till that 45 minutes you have been I mean abijit or Dam was uh briefing you about the other stuff so let's have a 10 15 minutes break and then uh at 2 uh we all again join this session and then I'll be um talking about more stuff related to this thing um only one thing I just before wrapping it up quickly um my focus is um if we can keep things simple and sensible all half of the battle is done and you don't need to uh do wonders to reach out to decision so confusion is where when you try doing things differently but at the end it has to be uh presented or logically should fall in line logical so that others can also buy it okay let's meet at two yeah who is this um you're saying something side yeah yeah sir any advice for someone who is currently pursuing graduation and wants to pursue his career further in banking sector banking sect see uh See sectors are all same uh my focus is what profile in which you want to work um advice um depends on I mean difficult to give a blanket advice but um start or be in be choose your career in which you have a passion for that and uh obviously the knowledge as much as knowledge you can gather before joining uh then it will help you in uh excelling your career that's that's the only advice right now I can give we can actually take this offline uh based on what credentials you will share then probably things will um I mean uh I will be able to um guide you or give my view um so we can take this offline but uh right now um my um focus or my um objective is to um get you believe that you all are analyst good analysts once you are start believing that you are good analyst definitely your financial uh when you process a financial information um your nobody can give you decision making Powers nobody can tell you um how to analyze things those things are not written anywhere it's just the your thought process and if you are into the thought process then definitely um many things will get resolved very quickly okay let's meet after 10 minutes uh sharp at two and uh then I'll be U actually talking about other stuff okay okay sir okay okay sir spe e e e spe [Music] spe for for [Music] for for e e little e and totally in foring okay we talk after some we have to [Music] okay e [Music] spe e for e e is everybody is back I can see 20 19 people let's wait for 2 minutes more and then we'll start H shall we shall we start hello I think uh we can wait for one two minutes sir because 19 participants are only there or maybe if you want we can start let's wait for another one minute mm so how you guys are managing I mean who who are working uh because of this pandemic all are I think working from home or uh you guys have started I mean how things are my company has given leverage till December so they are they have told work from home till December after that they will see and they will decide you you're working with the right uh SMP standard and po yeah from day one okay of this P nobody has thought that 2020 will be like this I mean and I don't think how many many people will not actually revisit 2020 as well because it's going to be a black mark in in the in the history um so yeah it's a tough time let's see even if we come out of it uh the repercussions are going to be for some time I don't think the businesses are operational at 100% they are I think 50 60% operational somehow things are getting managed but uh still um that fear is already there things can go wrong but that's not the case with the equity Market I mean our indices are doing great um again back to not too far from the alltime highs so how many of you um I mean track or invest in equities sir I have invested in three4 shares but I'm currently running a loss yeah so that is fine now I'm also having a l but I also invested in I also invest in okay okay um so let's let's begin now uh so as you have seen this brocher uh this course is basically designed in three levels one is a volumous uh part where most of the knowledge sharing content is going to play a role I mean this is one I think my screen is uh visible to all of you right yeah it is so so if you see this is actually the um how this course is going to span over time um technical skill and job Readiness um it's around 34% but majority of financial landscape accounting modeling uh valuation is going to be part of second this thing um around 50% um I'm talking about the financial landscape accounting and modeling these are 31 41% 40 plus valuation is going to be around 50 60% um so in that um in accounting we are going to understand how we can actually use available um tools to analyze a company largely um my suggestion to all of you would be if you can uh apart from the normal exercise or the evaluation process if you um can uh decide about a company start tracking that company um based on your interest Because unless and until you have interest in one of the sectors then um then only you will be able to actually track that decide about for example um take one any one company re start reading one or two minutes daily about that company the best way to do that is uh you just identify your name go to money control site go there you will get all the information related to uh the company like if you see I'm just going to give you it's just an example of um getting information from um I was a telecom analyst I covered Telecom for um for I think more than six seven years and uh so I'm always interested in so I've just picked one company um I think the name is visible can can anyone spell out what is the name of the company okay so uh um this is um when they got merged was one of the largest uh player in India but uh in terms of subscribers uh so if you see this ribbon you'll get all type of information whatever you want and one important thing which which is which you get from here is if you go to the Forum and read about read comments it's you you have to actually cut the crap and read the relevant information uh mostly people will give their view that it will go to her uh from this level to this that level those are not the things uh in being an analyst you need to seek information and this site gives you at least enough information to decide whether you want to invest in that stock or not so lot of other things are there if you want financials you can go to financials and in a for Qui quick and dirty style you can get all the information required about forum is one of the source from where I pick cues about the company because uh um many people are putting their comments in the Forum you cannot have keep a track of all the things um so um use other people's intelligence to take decision if some important event is coming up you are if you're not aware uh somebody is putting some comment think about that um so that that is something which which I will ask you if you can rigorously start folling because it will put you in a habit of thinking like an analyst and uh and it's it's it's only possible when do you do it yourself I can give you 100% Gan but that Gan is only uh to it's like a pleasing a kid or pampering a kid but unless and until uh that kid tries himself beat any exercise you don't um get the ultimate results because experiences are different and real experiences you actually um try actually negating what all shortcomings you had in your experience so it's actually stage uh so first thing I would suggest pick up a company start thinking about it read about it at least read about two months about the company once you read about that company for two months then you start knowing a company I can talk about Vodafone I can write 50 pager report and I can talk hours and hours about Vodafone because I have invested in it I have covered the main company what is going on why it is going on what could be possible all are possibilities I've made decent money by investing in in Vodafone but it's not that I haven't lost money in other stocks I'm not here I mean I'm not projecting that Grass Is Always Green so things you have to try and test things but the First Source is you have to start looking for useful information for any analysis if your source of information is reliable and you have good information to analyze your chances of taking right decision increases I'm always try to use correct words because language is very important I cannot use uh it makes a hell of lot of difference or when we are dealing with professional people the language should be the most important thing because sometimes when people read emails they make their own view whether that email is aggressive neutral tone down so language becomes a very communication mode whatever it is be it presentation or be it be your written thing should be kept in mind written or done by keeping all the parameters in mind clients have many Liberty but we have to follow the standard practi practice we cannot write uh personal stuff I mean cannot use Jazzy words so when you write a report you don't write will because will makes your statement strong may or may not that is also confusion so we started using W where the possibility we are putting our view that's why Always disclosures are important so first most important thing for an analyst for the sake of argument to say financial analyst you have to know your resource reliability and the information from where you'll get that information for if you're starting starting starting a company then the information what you'll get is you will get it from the annual report so anual report is the prime Source nowadays everything is available on internet so you can download files anytime you don't need the physical copies but the online or pdf version that is the First Source once you have that in Source then you start reading read one annual report of a company which you pick because efforts have to be made joining a course deciding I want to do something is not going to help till you put effort in right direction so first important thing is the way of doing things is you decide about a company choose a company if that company turns out to be a good company then you can going forward invest in that as well and this course is not from a job prospective if you learn the skill of analyzing companies and decide about I think no I mean by God grace anyone can be uh multi-millionaire people have uh earned huge chunk of money by investing small small amount into various things but that is totally different because uh there you need to uh learn the portfolio management skills as well now we are just focusing on on the this financial analysis course talks about all nties which you need to analyze one particular stuff if you are working for um an equity research client equity research is nothing but a normal research it becomes equity research the moment you start giving your recommendation whether it's a buy or sell or a hold so if you're doing normal research what I'll just give you one example many of people are married in this group but when you if somebody wants to get married and look for boy and girl then definitely people jot down what all you would like to the qualities you would like to be in your wife would be wife or would be husband so that is something which which is the objective is to find or finalize are suitable match but all information analysis decision takes a proper process so if your objective is to identify a company to invest in then start doing research from fundamental level for that what we are doing in level one we are talking about all the accounting practices or tools which are required and giving you a framework where all quality all this is utilized I can give you one this um this this is the main uh landscape this is the main landscape of our industry it's not that we all or anyone can get placed in that so Investment Banking is the major one where we do research either for ourself or some other some other person then corporates are corporate banks are and retailer wherever financial information is utilized we all can be placed initially it might be possible that we get into um a position which may not be mapping to the skill set like if we are into research and um somebody is good in number crunching so data analytics becomes a part but you need to understand the the tools required so mainly what we are going to talk about in level one is is financial landscape principles of accounting whosoever is not from the background we give a Flav of what all accounting principles are utilized going concern materiality um many other Concepts which are based on which things are buil in then we talk about the special um Financial items financials have three statements three statements have different things how these are inter related then we do uh a ratio analysis ratios are not ratios those are from an interpretation point of view then once you know about what all things are required to be understood about the company then we start a process of building a financial model so if I talk about um it's an openhouse question um if I ask ask you it's it's it's open for everyone or whosoever wants to talk raise their voice and can give an idea um let's assume I um I wanted to start a business and um don't have much idea the simplest business is I want to um buy a car and uh run it on a as a taxi so if I ask you I'm not not asking you keep what accounting should be done or what things needs to be done I'm asking you if I ask you that if I start a taxi business can you uh tell me how much I can earn as a revenue minded Revenue in a one month by operating one taxi I'm the driver I'm going to run that business so can you give me a rough or wallpark figure that if you run a taxi or drive a taxi for one month how much revenue I can generate by operating at taxi it's open to all anyone can try uh sir this is Karishma yeah Karishma as you are saying you are going to start your own business uh your own taxi business so you can roughly earn 25 to 30,000 in a month 25 to 30,000 30,000 in a month it's a profit apart from the driver salary and all the maintenance and revenue revenue revenue okay in total yeah so yeah it would be around you could say 80 to 85,000 80 to 85,000 okay um number is right but how did you reach this number uh so the thing is um my father we have a transport business okay so that's how I'm able to tell you no no I I I appreciate your this thing but I'm asking you you're working you will earn,000 rupees and I'll um I mean got excited and bought a new car so how did you reach this 80,000 it's for the house I'm I'm giving you an idea how you should build your thought process I'm I mean I'm talking to the group uh how did you kishma for you how did you reach this 880,000 okay amount uh just just the moment so yeah I will decide the fair first okay okay uh how much I'm going to charge for a particular distance okay yeah and at this moment I Know This Much only uh kishma you are bang on you're bang on but can you put some numbers into it which can give me 80,000 number uh what are you talking about the fair yeah exactly you gave me the how much fair I mean what could be the general fair if I want to run that in okay I I'll uh I'll tell you about a 1 kilometer yes exactly so for the for the 1 kilometer uh we would charge um just a moment like two rupees or three rupees okay maximum five okay and that's how we will calculate and and in a day for like for how Kil uh for how how much kilometer we are going to cover up or we are going to uh run our taxi mhm and the time will also include in this mhm what 880,000 divide by 5 will give me back calculate how much distance we need to cover in a month in a month okay I mean how much charge and you say that I mean it's like a into B and U equal to C and C is 80,000 then obviously if you know a then B can be calculated right it's a normal equation right yeah okay so let's assume uh you're saying 5 kilomet per hour per kilometer you're charging so around 16,000 kilm in a month okay okay uh fair enough um kishma thanks um now I'll be um I'll take it from here now uh there are two reasons why I have asked about this business because we have sorry who is there anyone wants to say something hello I'll give 1 120,000 okay if uh anyone if anyone work 8 hour per day 8 hour day yeah and uh if uh he will uh if he will work 50 km per hours okay if we run 50 km per hour then 400 kilomet uh he will be run 400 kilm per day yeah and for if we calculate one hour per uh 5 rupees per 1 kilometer then uh 400 into uh five then 2,000 Rupees per day okay and uh if he will work for uh sorry 30 days then he will be earn 60,000 sorry 1 lak2 not it's 60,000 per month you will be earn 60,000 okay good hell yeah yeah I want to add yeah yeah actually so actually depends on where you are doing a business okay it's it's a estimation it's a forecast just for the good part about the industry is nobody is wrong Karishma was right right you you are also right and whosoever is adding some point he is also right so let's take um his idea then I'll I'll I'll put many questions now it's I mean we are getting into that mode now yeah please please go ahead yes yes I want to add actually I was telling that it depends on a it dep business where you are doing you are doing your business and then accordingly we charge a fair if you are doing business NC charge different if you Doge so it's a matter where you are doing your business accordingly we check how much money I'm earning in a month okay so that's the one I wanted to add okay now it's a joke um see the point is if my client ask me to give me give a b Park figure I have to qu a figure whether hello hello s hello yeah yeah sir time is also a matter for this if you working in a night so fair is increasing now MH over then overall also important for the hello yes exactly hi sir this is B of I have something to add uh in order to give an estimate to the client regarding the revenue I think the first question arises that which particular model or the vehicle the client is going to operate like is it a Hatchback model is it a saloon model is it is it an SUV because now nowadays the SUV charges around 14 to 16 kilomet per uh like 15 to 16 rupees per kilometer then around 10 to 12 is for the Salone and for the mini or the hagback model is 6 to7 kilometer uh rupees per kilometer I think that plays a crucial role in generating the revenue exactly I just want to add one thing like miscellaneous expenses are also there like expenditure like I'm talking about I'm I'm right now I'm about only Revenue so other expenses are going to be out of question I'm not asking about profitability of the business I'm just asking about uh um I mean how much um Revenue I'm going to earn okay now fair enough I um really appreciate all the uh inputs uh now uh what I'll be talking about my point is uh first what is good about um this group is that they can understand and think in that fashion so Karishma gave me um the right approach she was very right in as telling about fair and distance so what I'm I'm going to tell you is that a best model or Revenue model to understand a company is if you can break the revenue of that company into price and volume price and volume are linked to tangible or the services which are mostly tangible like P or any other commodity which is tangible can be easily broken down into price and volume so when I when somebody from the group told me fair is going to be two or five that is right at first instance I'm not questioning whether the rate is right or wrong 2 to five rupees or rate is not prevailing nowadays when 80 rupees per liter is the cost of a petrol uh mileage uh 15 if I'll keep up a mileage of 15 also then also 6 rupees per kilometer is almost 6 rupees per kilometer is my cost so rate I have to check whether five rupees make sense or not but yes the rate which she mentioned was accurate now moving on to the distance the simplest way of calculating other parameter is back calculate I mean if I know that I'm going to earn 0k in a month and I know I'm I'm going to charge 10 Rupees per kilometer 8,000 is going to be my volume or my distance traveled now my question is is it to the group yes or Noah is the should be the answer is it possible to drive 8,000 kilometers in a city in a month no no sir okay why you say so no it can you can say see it's a city there will be a traffic and all we have to take the consideration about the hours also how much you are doing in hour you cannot 24 by 7 do a taxi job to uh have that 8,000 it's for eight or nine hours you're doing it so might be traffic consideration might be there will be a lag might be you will not get the trips also sometimes okay so these are actually constraints right yeah okay so now now the thing is when when I know my rate is almost rate is very easy you can go online check Uber olola and whatever other vendors are providing um so it's easy to get know how much is the rate now if I'm looking at a particular Target then um 8,000 kilometers in a month is not feasible because there are limitations attached to um me as well I mean if I'm the owner owner plus driver of that cab so how we can decide the appropriate number of kilometers can be driven or possible in a month uh sir uh so if you inter you I want to say that I think we could we could drive for 8,000 to to 9,000 kilometer in a month okay you are saying you can drive um I mean it's possible for 8,000 per kilome 8,000 kilom in a month yeah yeah it yeah it can be possible okay okay uh no issues I mean um the beauty is that everyone is right uh but you have to test whether it makes it's possible uh to drive 8,000 kilometers in in a month or not how how do we do that uh the only I think uh that is possible if if the owner is employing like two drivers and and they are working in different shifts or let's say for eight hours sorry um actually the point is uh first whatever is there that is the only information so if we start putting assumptions into it then scenarios will change the scenario here is I am the owner driver and rate is Market driven rate I don't have any control on it if is going to charge 10 rupee per kilometer I cannot charge more than that now it is my capability my's capability how much it can run in a month now to decide that amount we have to actually move from the granular level let's assume uh there was one guy who was talking about eight hours yes um I can work because it's a taxi business so 10 hours is something which I have to uh run my taxi uh because it's you cannot decide your it's not a hours are not in Flex in a stretch it has to be flexible so 10 hours is something which is manageable if I'm working in NCR region average speed is going to be around 20 to 30 considering all time period Peak daytime night time night I think average speed could be 60 70 daytime also it could be 30 to 50 but in Peak cars it might be uh 10 to 30 so considering everything or I can do a weighted average that five hours I'm driving in PE cars and five hours I'm driving in uh night so 5050 60 average speed there and 30 there so I will end up around 40 kilomet per hour um speed in 1 hour so what I'm going to decide 10 hours a day 40 is my average speed so 400 kilomet a day into 30 days if I work 4 days I can reduce I also need rest vehicle also can some possibility on an average uh discussion or average information our taxi driver is running only for 25 days in a month so 25 into 10 into 40 is going to give me one number and that number if it is less than 8,000 then it is not possible to run 8,000 kilomet in a month and if it is more than that then that higher number is also feasible in a month so that my point which I want to put across is you have to think chronologically whether numbers are making sense or not deciding about a number research has to be done you cannot randomly decide that um I can run 20,000 kilometers if my information is correct and I'm using right set of numbers then definitely things should change now if you further want to Deep dive into it then you can think of that majority of the time I'm driving in in um night so the premium is there so 10 car 20 rupees can be charged other factors also can be put in into but all those factors are qualitative I I'm doing taxi business but I'm not doing normal uh mini sedan or this much I'm ask I'm playing in a luxury this thing then RAR 450 rupees per kilometer so it's all about what information you have and how you can best use that information to reach to a ballpark figure but having said that any thing which can be broken down into price and volume is going to be the best model now this is tangible okay if I ask you um it's an open question to house uh can you give me a ballpark figure for uh TCS tataa consultancy Services revenue for T Tata consultancy Services can anyone give me a ballpark figure anyone say any number hello2 billion uh 20 20 billion billion or billion billi okay in currency how much it will be multiply by 75 yeah it will be a two lakh what I can say 2 lakh th000 CRS I like that uh okay so let's assume it's um for this Simplicity um let's say 200 cres okay guys yes or no yes yes sir I mean it should not be a oneway traffic uh otherwise on online I you guys are even sleeping as well and I I'm talking to the allall uh so please respond then only I I'll be understand I'll be able to know that I'm I'm moving in a right direction I so so let's say uh 200 crores right yes sir sir okay so can you can you um try uh thinking how you can reach out to 200 uh cores Revenue uh by analyzing uh the TCS can anyone try how this 200 CR number can be built sir for that we have to see past annual report as well or maybe we have to check 2 three years how they are performing it if they are performing the same range so we can say okay next year we can increase some business and we can uh have that profit or maybe like that but uh directly by saying it 200 we can have it I think we should see how their business is moving then only we can say it okay anyone can think of any way of workaround for 200 cres okay let me give you one thumb rule if it is a tangible thing you can uh do price to volume is it possible can we do some price to volume here as well I'm giving your food for thought think about it is it possible to break 200 crads into price and volume yes sir we can like it depend the amount of the price at which it provides the services and the amount of hours it gives the services to its clients exactly great bang on uh so so what we got we got rate which is a synonym for price and what we got we got volume here volume synonym is number of hours let me give you one um statement services are always measured in hours keep this with you you will be able to make Revenue model for any service industry rate varies based on this quality and the sector where they are operating if it is a niche they can charge premium if they are um doing in software industry then the rate will be normal rates so service industry is is always measured in hourly rate into number of hours so what can then this can you try now this 200 cres can be broken into your price and volume hello hello am I audible yes sir yes sir yes sir sir can you can you think now now can you think how we can break uh uh this 200 crores into price and volume one factor will be the amount of places from like the number of states in which the compan is operating that's a qualitative thing maybe on the maybe on the basis of various service lines whichc on the basis okay uh I'll I'll park it somewhere uh somebody also saying something yes oh yeah I was saying maybe on the basis of different business lines TCS is owning which could be like uh BPO division uh testing division Consulting divisions on the basis of this uh right now we are not going into details I'm I'm just asking to break 200 into uh X and Y okay okay don't uh let's not waste more time uh but my point here is for service industry service is always measured in RS so one is number of hours and another one is the rate I don't know how much is the average rate they are charging they are into n number of services so not possible for uh your you to decide that this is the rate so we have to work around and uh use the similar approach which we used rate per kilometer and 80,000 so now how I uh how I can get the number of hours for TCS every company discloses how many employees the company has let's assume U Can Can somebody give me a ballp figure for TCS employees how many T employees will be there in TCS quickly I think five sir because yeah 4.5 to let's let's take five lakhs I'm I'm not interested in numbers I'm I'm just asking a ballpark figure let's assume TCS has five lakh employees if they have five lakh employees obviously there is a Time defined for them to come to office right now it's not there hourss five lakh employees working for eight hours working for 300 days let's assume leaves I'm not considering 300 days 300 into 8 hours into um number of employees will give me total number of hours serviced by TCS right yes or no yes correct yes sir yes sir right so we'll get um around 1,200 million hours then what is left nothing 200 cres divided by this number will give you an average rate why do you want to now the now you know the rate getting my point am I am I making sense now yes sir now if I know that this much is the PCS is charging and enosis has 2 lakh employees so I can think of how much ballpark figure for Revenue enosis will have two lakh employes 400 rupees per hour rate then two times you'll get around 80 crores or 800 cres right yes so my point here is you have to think or understand the business from a point of view what they are offering and at what rate any business any business you can build a revenue model for that services are measured in ours the easiest way of calculating total number of hours serviced is employees into 8 hours into the period so that's the way you have to start thinking now if I ask you um in everyone's office downstairs there is a chai Wala can anyone try uh building a revenue model for that cha quick one one guy anyone can lead I'm asking you there is a chai shop um at the price of tea into the number of teas sold like tea cups sold okay so give me a figure sensible figures if if I mean now you you start thinking in that line but the number should also be logical as well and give me a monthly income 90,000 rupes 90,000 R yes I would say 1 lakh 32,000 1 lakh 32,000 because you h so that's what the figures can be different 10 Rupees CH selling th000 T daily is 10,000 rupees into 30 days three lakhs 1 130,000 is also lower than that sir I got around 3 3 lakh 75,000 so that is what I'm saying yeah just comparing on that don't don't worry don't worry H so so that is what I'm saying you have your thought process if you want to understand the business then you have to reach to a stage where you can decide what service they are doing and at what rate or her relatively rate available this is called Revenue structuring upy model Excel operating kpi Jo disclosed you will be able to build a revenue model like this integrities of the industries will come later but ballpark figure is you you should understand a business from a of Revenue model enforces employee per day rue so it's all about thinking in right direction complicate but start from the taxi rate and volume business give me a business I can give you price and volume let's let's talk about one another business uh yeah media business okay so let's talk about z z z business Z business or Z channel can somebody give me a ballpack figure for z uh z z Channel car Revenue they are also providing the service so uh it will be calculated on the basis of number of hours they are providing the service okay good fair enough we actually Jess one thing I would like to add the moment industry changes um parameters are same but has to be looked from a different [Music] angle from that angle service giving you one minute think raise your voice and it should be done the yes anyone see uh because it's an online session so I cannot interact directly uh that is the limitation of online but uh now let let's focus on how uh the thought process should drill down advertisement is the revenue a channel is making they are not charging from us they are just entertaining us though take if it is a um Tata Sky type of a business then obviously they are charging but um their main business is um anyone any Channel's main business is to earn from advertisement Revenue advertisement Revenue uh it's though it's a service but in advertisement they sell time slots 10 second add they will charge this much rate 10 second rate in prime time will be X rate so in 24 hours add revenue is not going to be 24 hours Let's assume a 1our program has the slot of around 10 minutes so 60 10 minutes divided by 60 will give you around 18% of the total time will be allocated to advertisement so 18% of 24 hours into number of uh seconds will give you number of seconds available per day for earning add Revenue if media house is earning 100 crores as a revenue for an year then you can divide by number of seconds allocated for add during that play time you will get one rate you will get your volume so it it's it's pretty much common and simple to decide per second rate could be one lakh per second for one product we can add complexity to it that 20 per second volume can allocated into Prime Time normal time when you online sing he advertising here so the rate will be different you can decide 18% of 24 this 18% is very important because capacity constrained variable into 30 3,000 30,000 yoga sorry 300 100 into 30 3,000 yoga so volume is a constraint capacity is a constrained variable and easiest way is we assume that we because we have a habit of slogging normal hourss so a factory over normal Capac so the we should test whether numbers are making sense or not these things not are not written in a book these are very common and if you apply your basic common sense to understand whether the numbers which either you have created or you are looking at are making sense or not so from day one start asking questions don't create confusion for yourself an annual report is audited by a respected charted accountant so you have to trust number ctif it has become a published number so we have to respect all published document number number that is your analytical skill but everything start from trust sometimes I become emotional um so so that is what because you have to change your thought process you are going to become an analyst or analyst cont is paramet you have tode so you have to change your thought process start analyzing things we are taking so many decisions in my daytoday life and we know how to analyze the information set of information is going to change am I making sense shall I I move ahead yes sir though I can stand here put more effort intoing things for you yeah I have one question in advertising business there there is a there is also a uh other part also there in Revenue like like uh media advertising in at film advertising there is a uh data preparation m revenue is less than 10% of your total revenue don't put your brain into it% grow getting my point materiality is very important accounting if it is not Material then why are you putting first of all believe that you are analyst if you change your thought process then you will become a good analyst number so if somebody is as a signing authority to annual report that is totally out of this thing it's not part of discussion we are into a professional world we have to believe fundamental numbers and the numbers which we are looking we have to trust but un trusted numbers and that that is where analysis starts andary businesses Revenue if it is less than 10% well because of reporting requirement they are it is compulsory for them to tell if you read annual report in many annual reports they are bound to disclose how many percentage of Revenue is coming from top 10 clients that is not because they somebody is asking them to disclose the names of the client the reason behind is that how um um risky your business is if if I'm working for maruti and my client is only maruti if tomorrow maruti goes for a toss then I also going to die now so one client 100% revenue is more risky 10 clients 10 clients contributing 50% of the revenue is less L risky so every information has a has a reason I don't want to disclose a single information about my business why I will give information for to others who can take advantage so it's all about that is why the accounting standards are there they tell you what is there that is the people who are working in accounting department are doing a great job and putting all the numbers in place and giving it to you to analyze and that analysis is only possible when you start think from analytical point of view practical challenges will come we are there to ease everything I can look at the balance sheet and give you an idea what what if a small example because this three hour session 4 Hour session cannot cover everything a hotel industry mostly runs on uh third party property properties so in balance sheet you won't get much because you're paying as a rental you have taken a property on rent and running a business if it is your property then the PPN will have a sorry substantial amount in your balance sheet so if you're looking two balance sheets of two Hotel hospitality industry players and one is having using an asset light model then obviously the balance sheet will give you an idea so what I'm telling you to remember for your whole life try breaking any Revenue business into price and volume suffar Services volume is your number of hours if you can break that you will be able to achieve maximum out of this thing because if you're putting a rate and a number then those numbers are back calculated or sanitized s sensitive numers should be there it is not that I can say that and that taxi I'll run for 20,000 kilometers in a day in in a month that is not feasible because whenever I'm talking about capacity capacity is a constrained variable so pick up any industry think in your this thing maruti Ro maruti very easy thousand showroom in all over India selling 10 Vehicles regularly 1,00 into 10 daily into 30 three lakh V three lakh vehicles per month sale average revenue for last 12 months 6 6,000 crores divided Marti cyle Mar top most expensive vehicle average price you can grow your average price that depends on inflation because if you want to understand about the industry it's not that in in a day you will be able to price to volume for a telecom player subscribers average average revenue per user so you have to be into that mode I worked done eventually every industry there is no companies might be left I can't say that I have worked on all the companies but I can say that I have worked on all the sectors gics 20 broad sectors I can guarantee you I have worked on all the sectors and all the parameters are on my tips I just need to see it the balance sheet what they are disclosing because I have been living in and out for last 15 16 years in those things change your thought process that's the only way if you want to be an analyst you have to change your thought process and thought process will get changed only when you start thinking in these lives simple simple if you understand how a business is making money at the end financials what you will get you will get just calculated numbers so this is all what we sorry uh sir I I wanted to ask one thing as you said just pick uh any company and start reading Bo okay so uh can I pick the company from US ah anything for which you can get information easily that's all okay then nobody I mean pick up any company which is listed on on on any of the exchange okay got it my it hardly matters whether you pick a US company or any other region company so this is what we all cover in level one the moment we cross level one then we start talking about the valuation when we build a financial model Financial models are actually I'll just show you I hope my screen is visible e see this is how we forecast revenues it's a company yes or no yes yes sir sir okay better if we don't take names because it's these are client Centric stuff so Master Card Master Card is what they are doing they are let talk about pm1 so he is becoming payment Gateway like MasterCard we need we need number of transactions for your amount of transactions let's assume 10 billion dollar transaction happened on a payment Gateway platform in every transaction how what they get they get a commission this is what the commission is right so this is what the commission is going to be now going forward we we forast that Commission and transactions going to be happened in that so that's the way you understand the business any any business model all business models are possible to broken down into price and volume if you can break that any model if you can't break then approach will be different like now what I'm okay now just give you one one one of few terms as well uh you might have heard about top down and Bottoms Up approach so when I'm whenever I'm starting from a granular level like price and volume I'm I'm doing a Bottoms Up approach so starting from volume and price and reaching out to my top Revenue but not possible every time uh let's assume um media okay very hot topic covid-19 everybody is uh in a race to manufacture or device a medicine for Co right you all agree with me yes hello yes if I ask you let's assume X company builds uh uh have a medicine for uh for Corona virus so can you give me a ballp figure of Revenue that can generate in an Year yes quickly it's a global scale 500es give me one figure yeah one lakh CR one lakh okay how do can you back calculate how this company will to one lakh so the number of people to whom the vaccine is going to be administered okay that be a that will be a parameter plus uh and the time I believe in the time in which this vaccine is going to be administered to this large chunk of people you right you are right because in our industry everything is right what so the total the total number of the total number of active cases presently at that time shall be no here there is some issue um because we uh forecast revenue and um so when we have to forast a revenue figure then every time it's not possible to have price and volume I don't know whether the I know don't know the price the company is going to charge yeah yeah so the price will be the the prescribed price by the government if that is that is the case then why people will make a medicine talking about okay do you think yeah it can it can vary from country to Country I'm not saying the same price for all the countries okay CH let let me actually make a things more uh more visible see um I was actually questioning only to give you uh that there is another approach which is top down approach top down approach we we try to assess the market size Mark in that situation the most important things is the market size that's that's the only reason people invest in because um Med medicine then the possibility is ke the market size could be of 100 billion because it's a global problem and everybody needs medicine so then um if one company is manufacturing only then 100% market share will be there but the company cannot reach to um all the geographies so they will tie up with somebody else so then they they will allow contract manufacturing royalty so my point here is when whenever some new thing is launched and it's not feasible for to Cal point point there is a possibility that everybody will get affected and Will Survive and antibodies will be there if you have dangu once you will not get again because if based on my understanding I'm saying if medicine has to come then that has to come before thec then after six months more people were dying now people have actually doctors and people have devised new mechanism or their own way of treating each other hard immunity hard immunity hard immunity is something antibodies will get injected in your body but my is immunity has developed adaptation um people have started immune to that so then medicine even if medicine will come uh many people won't need medicine at all so when we talk about nobody is going to disclose that level of information in annual report or anywhere which can hamper their business so I have another way also have same problem this much would be the ad spend budget TV mobile apps so based on that how many players are in that domain if TV channels News Channel 100 is allocated for News Channel and 100 CR will become 110 CR next year then that 110 will be eaten up by all the players and if somebody has like CNBC CNBC has a 15% market share so 110 CR 15% will be their revenue I don't have to go back go down from Bottoms Up approach and calculate uh number of seconds and the rate top down approach also gives me a ballp paath figure and then refinement is done and that refinement is done based on extrapolation or of historical Trends last 15 10 years data available I'm looking at that data and calculating total ad spend budget how much this company is having as a market share of Gio when Gio was launched will reach to number one stage model number of subscrib you can say that they will Attain 15% market share date market share 100 15 is 15 CR if somebody launches new car now let's take an example for Kia Motors Kia Motors when they launch SOS they they have estimated top down approach say because of this segment get 100 Market 15 CR is something which U SUVs are accounting for and if I launch a vehicle my vehicle will retain or gain uh 5 10% of market share and 5 to 10% of 15 CR is this number and then back calculate the estimation average price I'll get this much one approach is price to volume which is bottoms up and another approaches more sensible to calculate from top down approach so these are the two approaches which helps analysts to understand models or business models of companies that's what we learn pick up one company start reading about it capture few data points about couple of years one or two years and then try looking for parameters on which you can forast Revenue once you forecast Revenue then we will move ahead in completing the financials this is what we actually learn in first level second level is totally valuation relative valuation is similar to a property buying and deciding about properties value my valuation is done things are so simple you just have to make your thought process in that line fundamental analysis is your discounting model DCF discounting we project our business revenues or profits and then discount with one [Music] rate and this rate discounting rate discounting rate is itself very easy to understand um I have one question to the house I have company a and and Company B can anyone tell me which company shall I pick up to invest in totally depends on the uh revenue or the performance of the company from last two years uh with the market uh uh Goodwill Goodwill on the Goodwill you yeah of the I think which is Sir depending upon the stability of the company number of years a next just what what what is the criteria of investing in a business or in a company think about the criteria so you will forast previous returns I think the growth Trend previous returns that the company has generated for the shareholders or investors return yes it's market capitalization the market cap of the companies no no no no no no no no there is no nothing right nothing wrong but my point here is see uh it's depend business model sorry bus businesses are good uh depends on business model and what is the uh next it means uh what would be possibility for the future of this business uh mod okay don't get confused into it but my the point which I'm asking you is whenever you somebody asks you that you you have to invest in investment what is the reason you invest to get the return get return then where the hell business model is going to do my point is company a has a 15% return and Company B has a 20% return so I haven't disclosed um parameter but my point is so Point whenever somebody asks question or there is a problem in front of you you should know or understand what is the actual thing on which we can decide about the objective that is the point at this given point of time my focus is to invest in a company right Point see let's let me make one thing more clear now every decision is at a given point of time if you talk about hindsight postmortem decisions whatever is there for the sake of argument the point here is analysis is at a given point of time tomorrow things can turn good or bad for anything so thought process in right direction process sir I have a question yeah yeah uh sir the kch Mahindra Bank uh which is basically offering 6% interest on saving bank accounts as they advertised and U most of the other private lenders they are lending they are providing around 3 to 4% interest on saving bank accounts again but still the market share of cotak Mahindra bank is not the topmost so uh so what see the point is I mean Market but actually there could be um other reasons as well the reason which I have given you might not be right but my saying is to cover 100% Mark 100% Market is not feasible for anyone idfc BC idfc Bank saving r% people started correct correct yes sir [Music] yes sir then then it will be difficult for them to push their products are going to lose heavily true [Music] obviously efficiency of the branch will come Branch minimum staff true sir there could be many possibilities okay so uh so this is what in level one we talk about you just look at the brocher all content related stuff is taken care but if you change your thought process and focus on the simple nties of a business model you will understand the model easily accounting then we value the business value discounted cash flow discounted cash intrin value parameters discounting rate de how we decide about that interest discounting Factor but discounting Factor let me give you a very basic thing for any discounting or rate decision basic rate system FD fddd FDD uh government FD government treasury that is the safest rate risk free rate getting my point hello yes yes yes sirar if daneshwar will ask you I give I will give you 12% Bank bank the rate given by dhaneswar or XY Z anyone or RBI Bank bank rate the difference is the riskiness so Bank safest rate premium you prain some risk so you need to give me premium or premium premium is the only difference and then difference is the opportunity cost that discounting rate is base or a risk-free rate plus a premium or a kind of an opportunity loss premium for not investing in where you were in invting earlier [Music] interest base rate plus a premium is something to bear that additional risk am I able to tell you how rates are decided yes or no yes sir yes sir so please next time whenever you are asking higher return Then means you are asking a premium compared with the safest this thing okay yes sir okay so in first model will be built or you will be given details or learn details about how different things affect in financial analysis one part is financial model Excel financial model then we move to valuation valuation plus equity research valuation relative valuation is Market property approach is called retail relative valuation then you can do fundamental valuation which is the intrinsic valuation based on DCF technique and the DCF technique two things are important future cash flows plus your discounting rate discounting rate is always always risk-free rate plus the additional risk you de you take to command higher return that is what all about and then equity research is basically giving a buy and sell recommendation for a stock the moment you build a model no issues you build do it valuation it's okay but the moment you decide that if the stock is trading at 100 and my value is 150 it means it's a buy so just equity research point of view say you said that the research based on your research analysis if you decide or give a recommendation of buy or sell then that is part of equity research equity research there are two types of people or clients sells side and buy side buy side are the ones who consume their research mutual fund hedge fund private Equity they do research for their own and then based on that research take decisions or invest that is what what we call buy side research and sside are the people uh like IC direct or any other um broker who are doing research to sell that research end object end result or decision is clients they don't have any they just recommend and put a disclaimer below the report that we don't have any lenaa because of if you lose any money because of this we B B on the certain facts we have um decid we are of this View and you we are giving our view you do and Hell enjoy with your decision so that is s side the third stage is m& investment B Financial analis internally corporate strategies corporate banking profile project financing finalis consult if suppose out of this 20 23 people uh anyone can become um rich or fortunate enough to set up a plant in XY Z country where information is not readily available then you might go to a consultant they will tell you uh if you are putting this business there then what all sourcing or other stuff needed then supply chain analysis analysis that is part of financial analysis but done from a different objective under corporate strategy credit you analyze you your all balance sheet and other stuff will be prepared that is a kind of an analysis which is done with an objective whether you are eligible to get that loan or not last me m orporate fin andad butter you don't get one company for m&a Reliance wants to acquire some comp reli oldy [Music] manufacturer might have screened many companies and based on negotiations and all that stuff they would have done that compy identification screening m hfc will make profile of CK Mahindra and Pitch to IC HDFC bank so that is what the pitchbook name came or and then if based on the final decision that company gets up then we further build a model or investigate about the company so m& and corporate finance also are the two areas which hire Financial analysts but their focus is to get execution of deals Investment Banking M divisions so this is the the bigger picture of our industry largely Investment Banking corporate Banking and Retail banking M screen when we do MBA when I started my career after completing MBA Banks most of the MBA colleagues are doing working in Banks only ultimately capability network will decide where you land so that is what I'm saying other um if you are working in U in an organization where internally you can take advantage of this that will be the first easiest way of reaching out to what you're looking at uh sir yeah uh sir uh can you please explain the difference between buy uh buy side and sell side in uh analysts in a layman's term please shares but long okay invest in this you should buy this because of so many reasons actually sell sell side or buy side me difference the people who do research to sell means Brokers Angel broking Angel broking India info line they recommend or sell their research and the ultimate investor is totally different but HDFC UT AMC they do research to take own investment so those are by side all right all right thank you sir thank you see uh actually this is what what I have planned for the session in which I wanted to um make yourself ready before starting the program your approach and thought process should be in an analytical mode try looking at things with different perspective objective is more important because many of times you have to back calculate or back um backward integration to meet your objective um so that is what bookish or content is available everywhere um best practice would be you pick up a company start reading about it build a model about around it analyze the company do a proper valuation whatever is being taught you or told in the sessions apply those matter metrics to them it's not that if it is not written in the course content you should not try that but if you try many things uh at the end whatever you are going to learn it's your effort nobody will come and tell you how to look at things so those are um this is the only uh advantage of ticus where we are trying to bridge up that Gap when I take I'm I'm actually an a professional trainer not only a professional trainer I always always uh train internally in my company as well uh be it leral hires or be it uh the um your campus hires so the the only issue is people have have knowledge but when it comes to uh how to use that knowledge practically it becomes challengeable so if you change your approach of thought process definitely things will turn um I mean I think around it will be a turn of 180° because we always try to make things complex if we keep a track on it definitely things will will be more easier or be when we talk about research it's a dynamic world tomorrow you won't get the same problem so it's only that the experience you have learned over and year over years uh you will be able to uh work keep do a workaround but um it's not going to be the same challenge which you faced two days back so every time whenever we get get a request or a project or a mandate all mandates are totally different uh we may apply the previous experience to it but not necessarily it's 100% mapping or applicable so it's it's all about how you um I mean the intelligence um always plays its part and uh that's why we get through the projects anything if you want to ask uh related to related to anything which we either discuss today or have um in mind related to course I'm I'm happy to take in last next 10 minutes yes everybody is sleeping how's the Jo hi sir sir if you have anything then um probably we'll just take it take it up otherwise um all the best for for the I think you'll have the session from 23rd right yes yes yes any of any of classroom batches are starting 23rd 24th we'll have a session I think oh yeah 24th okay yeah 24 so so that is what actually um it's all about it's it's really um because I have been this industry for last 15 16 years I live it um day in day out and I have a um share or you can say I'm crazy or a deep passion for uh equities luckily in this field otherwise I would would have learned these tricks on my own so there is no Financial instrument on which I haven't exposure to um be it any uh derivative product or be it any uh commodity I try to I mean try to earn learn and earn so that is what and hopefully um we'll make good use of this uh SK set upgradation so hopefully the session is useful I might have um my PJs are not that bad or so which you might have bored you it was good session sir we learn a lot because the thought process which you have told us it's like very different as what we are in corporate world because he always thinks about the everyday working but uh this approach looks very different now on that actually things are very simple that's what I insist on there's no point making things complex if it is not understandable by others because in in corporate or in today's world we are not um I mean when we are into service industry our industry research is also a service industry and the unit is time you get a rate for that and uh rate to uh hours delivered or serviced is is the simplest way of analyzing and creating things so I think um if we make these small small changes uh actually things are changing now institutes likeus are available earlier uh when I started my career nobody was there or no official training was scheduled it was just like throwing somebody in swimming pool and saying that your height is 5T and the depth of the water is 4 feet you won't get uh [Music] um I mean you won't drawn into it so try learn swimming so whatever we could learn from friends and others others uh we learned that and reach to that stage yes self- learning makes you more strong but yes the time was get wasted into self- learning or the experiences which might have avoided with some professional help uh which is always required and now we have these things available which is which is in a way good so if you don't have any other question or doubt then U thanks a lot for Patiently listening to and I'm assuming I might have made sense and you guys think such a way thatan understanding granular that nobody can tell your uh proposed number so so all the best and thanks a lot thank you thank you thank you thank you thank you remaining weekend and ready for the next weekend yeah sure yeah sure sir [Music] sir for e e e e e e e e e e e e e e e e e e e e e e e e e
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