Blogs

May 7, 2026
Dark Blue Hero Banner Showing the Headline cwip to gross block Ratio with a Green Italic Subtitle a Circular Multicolor Donut Chart Labeled Fy25 Centered Below the Text Small multibagger Shares Heading at Top Left and a Caption at Bottom Left Reading multibagger Shares  Sebi Ia  Ina100007736

CWIP-to-Gross-Block Ratio: The Forward-Looking Capex Pipeline Marker That Reveals Whether Indian Companies Are Building Their Future or Stuck With Stranded Assets

A forensic balance-sheet ratio every Indian long-term investor should master, illustrated with Titan Biotech FY25 audited markers (₹11 Cr CWIP, ₹57 Cr Gross Block, ₹3 Cr borrowings, 103% CFO/Operating Profit).
May 7, 2026
Chart Opportunity Cost As Hurdle Rate by Fiscal Year Fy20fy25 with Bars Showing Values 28 26 22 18 14 and a Green Fy25 Bar at 11

Opportunity Cost as Hurdle Rate: Charlie Munger’s ‘Best Available Alternative’ Test

Charlie Munger's lifetime discipline: every rupee must beat the next-best alternative use, on a risk-adjusted basis. How Indian long-term investors apply the hurdle-rate test using the 10-year G-sec, and why Titan Biotech FY25's audited RoCE spread illustrates the discipline.
May 6, 2026
Infographic Showing Cfoebitda Ratio by Year from Fy20 28 to Fy25 11 Fy25 Bar Highlighted in Green

CFO/EBITDA Ratio: The Operating-Cash Quality Test

Learn the CFO/EBITDA cash-conversion ratio — the 60-second test that separates real operating profits from accounting fiction — using Titan Biotech FY25's 103% audited reading as a positive illustration.
May 6, 2026
Hero Layout on Dark Blue Background with Title the Inevitable and Subtitle Below is a 2x2 Color Grid Top left Gray Block Labeled trader Top right Green Block Labeled compounder Bottom left Light Gray Block Labeled drift Bottom right Orange Block Labeled speculator

The Inevitables: Warren Buffett’s 1996 Letter Three-Tier Test of Business Predictability

Warren Buffett's 1996 letter framework classifies businesses into Inevitables, Highly Probables and Hopefuls. Most Indian retail portfolios mistake tier three for tier one. Titan Biotech FY25's audited numbers read as a Highly Probable profile.
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