Every week, catch up on the best long form stories from Forbes India. Often peppered with our binge-worthy podcasts, videos or infographics too. Image: Shutterstock
1) Proving the mettle
Allcargo Logistics has emerged as the world’s largest consolidator of ocean freight in the less-than-container load (LCL) category. If an American business is looking to send a half-container load to Antwerp or if an Indian company is looking to lease space in a logistics park, they can do all of it at a one-stop shop provided by Allcargo and move the goods quickly. Shashi Kiran Shetty's company has been demonstrating its ability to scale and build a worldwide lead in the LCL business, but the market has not rerated the stock. The logistics company has built an enviable bouquet of offerings. Why then are the markets not impressed? Read more
2) On the divestment block, one more time
The Department of Investment and Public Asset Management (DIPAM) in January said the disinvestment of portions of stakes held by IDBI Bank promoters—the government and LIC—will take place in FY24. This is the first time a fully operative bank will be publicly put up for a competitive bidding process. The unprecedented move opens up a fresh opportunity for corporates looking to broaden their role in the banking sector. IDBI Bank has managed to create a healthy deposit franchise, widen its reach, improved profitability, and achieved near-complete provision for bad loans. All points in favour of the once-struggling giant. But there are also challenges that potential bidders cannot ignore. Read More
3) Mind the GAAP
Adam Neumann, the "genius" behind the creative accounting of WeWork introduced the term 'Community-adjusted Ebitda'. The metric measured net income before interest, taxes, depreciation and amortisation, and ‘building-and community-level operating expenses’, which reportedly includes rent, tenancy expenses, utilities, internet, salaries of building staff, and the cost of building amenities. Very few can match the aerial acrobatics Neumann did with the non-GAAP metrics to report the earnings of WeWork. But Neumann was neither a pioneer nor the last man standing. In India, a breed of newly listed tech companies, as well as privately held ones, is busy emulating the trend. It is not illegal but surely puts them on morally sticky grounds. Read more
Discover
1) Self-belief wins
"Yeh kaunse sport mein daal diya hai? Kaise kapde pehenti hai? Kaisa iska physique ho jaayega? Koi shaadi bhi nai karega [What is this sport she is playing? What kind of clothes does she wear? What will happen to her physique? No one will marry her]." These are some of the questions wrestler Sakshi Malik's parents had to field when she chose the sport as a career option. But they protected their daughter's dream to be the best wrestler in India and sit in an aeroplane. In this conversation with Forbes India, Commonwealth Games medallist talks about never giving up on one's dreams. Read more
2) From Boomer bubblegum to SaaS
As the pandemic was unfolding, Nitin Chhabra and Berry Singh decided to risk their entire business and convince their board and investors to transform Ace Turtle into a retail operator. In this episode of the Startup Fridays podcast, Chhabra, CEO of Ace Turtle, talks about how the company started as a SaaS business, selling software for the so-called omnichannel retail. Ace Turtle is now the force behind brands like Lee and Wrangler in India. The company is now looking at more than doubling its sales to become a $100 million company over the next 12 months. Listen here
3) Leadership Mantras of Ronnie Screwvala
Ronnie Screwvala is a man who wears many hats—entrepreneur, investor, philanthropist and author. He started the production company UTV in 1990 and turned it into a multimedia conglomerate, eventually selling it to global giant Walt Disney. But this was only the beginning of his second innings. Today, he is the founder of a bouquet of companies, including edtech venture upGrad, private equity firm Unilazer Ventures, a film production house RSVP Movies, sports business U Sports, and not-for-profit Swades Foundation. Watch him scoff at the word “serial entrepreneur” and share the secret to his success. Watch here
4) Zontes GK350: Little pocket rocket
Zontes GK350's compact appearance can fool you. The tiny frame of this creation from the Chinese automaker packs a 348cc, single-cylinder engine that puts out 39hp and 32Nm. It has a 17-litre fuel tank that can take you up to 400km on one fill. It handles well on busy city roads, but if you have an adventure on your mind, it will hold well even at 95-100kph on highways. In this episode of Forbes India Momentum, we take you on a ride with the breezy commuter—Zontes GK350. Watch here
