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 more2) 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 More3) 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
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