Byjus' Valuation Reporting Standards
Anurag Singal
Valuation | Financial Modeling/Review | CAJobPortal.com | CA Rankholder | IIM Ahmedabad | Registered Valuer
BYJU'S Valuation Standards
Interestingly, Bjyus' creative reporting is not just restricted to its financials, which have been the 'talk of the town' and now the subject matter of an MP's letter to ICAI's President
If we see the Valuation Reports submitted by Byjus to MCA, they are also quite instructive in terms of the inconsistency of the projections provided - its like "kuch bhi report karo, we'll manage"
Value of CCPS (Rs/share) - same valuer for all 3 reports
31st August 2021: 170,039/-
30th Nov 2021: 175,179/-
28th Feb 2021: 185,251/-
We looked into the projections appended in the report
FY 22 (7 months ) Projected Profit as per Valuation on 31st August 2021: Rs 125 cr
FY 22 (4 months) Projected Profit as per Valuation on 30th November 2021: Rs 209 cr
This is when the company posted 4564 cr loss in FY 21
Continue the story
FY 23 Projected Profit as per Valuation on 31st August 2021: Rs 382 cr
FY 23 Projected Profit as per Valuation on 30th November 2021: Rs -691 cr
Continue the story
FY 26 Projected Profit as per Valuation on 31st August 2021: Rs 5970 cr
FY 26 Projected Profit as per Valuation on 30th November 2021: Rs 8868 cr
What's really happening with India's most valuable startup
Is it creating its own reporting framework ?
Byjus Reporting Practices
#startup #byjus #financialreporting #politics #icai #creative
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