Thanks, Donald for working on this with me. You have been very patient with me

Working on the BQ sheet was an enriching task. It helped me understand MPS much better.
The BQ sheet has some really tough questions and working on it makes one clear how much one knows about the business/company.

Agree with @ayushmit that it’s a great excercise to keep a BQ & MQ sheet for business where one has worked in detail. It just makes a lot of things clear in your head and cuts the clutter.

Here is my attemp at MPS BQ – MPS_BQ_Insights.pdf (1.7 MB)

Views invited.

Decent performance continues! Over 2.5x since I first posted. Debt continues to go down, both pharma and devices business doing well.

See latest results press release
http://www.bseindia.com/corporates/anndet_new.aspx?newsid=69fd38a4-bdd1-45c1-ac9e-eb9036062931

Disc: long

Agree. Margin contraction was lil disappointing. Looking At the balance sheet, fixed asset number has gone up significantly reflecting in the turnover.

I think they should be able to maintain the top line momentum. Real challenge would be lifting margins to previous levels.

Disc: holding from lower levels

I glanced at their Financial Statements for FY14 (FY15 has not yet been uploaded anywhere). Following amused me:

PBT according to the Cash Flow Stmt: Rs 4.20 cr
PBT according to the P&L Stmt: Rs 4.79 cr

Inventory Change according to the Cash Flow Stmt: Rs 4.61 cr
Inventory Change according to the Balance Sheet: Rs 1.55 cr

Total Working Capital Change according to the Cash Flow Stmt: Rs 4.01 cr
Total Working Capital Change according to the Balance Sheet: Rs 1.49 cr

I have no idea what to make of these Financial Statements.

Those having access to FY15 Financial Statements might want to comment on whether such inconsistencies exist in FY15 Stmts as well. If yes, all the reported figures lose their sanctity, unless someone is able to explain these inconsistencies.