The Projection Gap
Company promises, valuation claims, operating reality and capital-market discipline.
Ola Electric and the EV Execution Gap: When a Mobility Revolution Meets Manufacturing Reality
Ola Electric says FY26 was a reset year. The forensic question is whether the reset repaired the business model, or merely reduced the loss base after revenue and service trust broke.
Lenskart: When a Retail Chain Wears a Tech Multiple
Lenskart is not a weak company. That is precisely why it deserves a serious valuation audit: is the market paying for eyewear retail, manufacturing control, international optionality, or a technology-style growth illusion?
Zepto: The Speed-Valuation Paradox
Zepto has proved that India wants quick commerce. The IPO market will now ask the harder question: can speed become a moat before it remains a cost centre?
Urban Company and the InstaHelp Trap
A profitable-core platform re-enters the cash-burn cycle as instant household help tests whether speed can fund labour economics.
Ola Consumer and the Collapse of India’s Platform-Capitalism Fantasy
FY25 collapse. H2 FY26 free-cash-flow-positive counterclaim. The platform thesis now faces the repair-or-reclassification test.