How a sector earns, and what breaks the usual valuation rules.
Net interest margin is the gap between what a bank earns on loans and what it pays for deposits. Rate changes move the two sides at different speeds, and that timing shapes bank profits.
Airlines earn tens of thousands of crores in revenue and often keep a few percent of it. The gap between revenue and cost per seat-kilometre explains why, and 2026 showed how fast it can close.
The usual valuation toolkit of enterprise value, EBITDA and free cash flow stops working for a bank. Here is why, and what analysts use instead.
India's IT services giants and software product companies share an industry label, but their economics are almost opposite. Services revenue grows with headcount. Product revenue grows with copies of the same code.
Ten-minute delivery is impressive. Whether it is profitable depends on a few numbers per order and per store. Here is how to read them.
Cement is one of the cheapest things you can buy by weight, which makes it expensive to move. In India, freight and location often decide which cement company makes money.
Every company claims a competitive advantage. A real one shows up in the numbers as returns above the cost of capital that last for years. Here is how to tell the difference.