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Glossary
1678 terms

Glossary

Every term is defined twice: once the way a filing would put it, and once the way somebody would explain it to you across a table. The second one is usually the one that sticks.

Showing 5 terms

Path to profitability

Fundamental analysis

The route by which a loss-making company is expected to reach profit, judged as two questions in order: does one customer make money, and can total contribution ever cover the fixed cost base?

In plain terms

A company can pass the first test and fail the second permanently. Positive unit economics with a cost base the addressable market cannot support is what catches people who stopped checking after the first question.

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Migration to main board

Market basics

The move of an SME-platform company to the main exchange board, once it meets size, profitability and shareholder-count criteria.

In plain terms

The genuine bull case for an SME holding — better liquidity, wider coverage, index eligibility. It is also uncommon and slow, so it is not something to rely on when you buy.

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Piotroski F-score

Fundamental analysis
Also called: F-score

A 0–9 score from nine yes-or-no tests of profitability, leverage and efficiency.

In plain terms

Built to separate cheap stocks that are recovering from cheap stocks that are failing. It measures direction, not quality.

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VNB margin

Fundamental analysis
Also called: Value of new business margin

Value of new business as a percentage of the premium written on that business — a life insurer's core profitability ratio.

In plain terms

It stands in for net margin, because an insurer's reported profit falls precisely when it sells more. A fast-growing insurer looks worse on P/E than one that has stopped selling.

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EV per tonne

Fundamental analysis

Enterprise value divided by installed capacity in tonnes a year.

In plain terms

Compared with the cost of building new capacity and with acquisition prices. It ignores profitability, so pair it with EV/EBITDA.

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Indian stock market glossary · Market Vidyalaya