The single financial pane of truth — P&L, quality of earnings, profitability, FP&A and acquisition-cohort economics.
Margin is expanding, but ≈ $-5M of EBITDA still sits between today's 32.0% margin and the 16% exit target — held in unintegrated cohorts and SG&A. Convert synergy and add-backs into reported EBITDA before the buyer's diligence.
8 of 8 headline metrics improving vs prior · still off target: Fund Management Revenue ₹34Cr vs ₹40Cr, Revenue Growth 17.0% vs 20.0%, Gross Margin 54.0% vs 58.0%
Move to credit hold pending paydown; reforecast ARR net of likely churn.
Distress filings + overdue AR; churn risk High on $6.4M account.
Sets deal capacity and refinancing risk.
≈ $-5M of EBITDA stands between 32.0% margin and the 16% target — the swing that re-rates the equity.
Targeted collections sprint on $0.9M; tighten milestone billing on ISC projects.
ISC (67d), PagarBook (66d), Lastaki Advisors account (67d) lifting blended DSO.
How $785M of revenue converts to $116M adjusted EBITDA.
| Revenue | $34M | 100.0% |
| Cost of goods sold | ($16M) | (46.0%) |
| Gross profit | $18M | 54.0% |
| SG&A | ($6M) | (18.0%) |
| Adjusted EBITDA | $11M | 32.4% |
Diligence-grade add-back walk.
Organic vs. acquisitive vs. price/mix vs. cost.
Forecast discipline, synergy realization and productivity.
EBITDA uplift and synergy realization by acquired brand.
| Brand | Year | Revenue | ARR | EBITDA % | Synergy | Status |
|---|---|---|---|---|---|---|
| Triton Fund-II | 2021 | $0.18M | $0.06M | 0.05→0.07% | 92% | Integrated |
| ScikIQ | 2021 | $0.12M | $0.04M | 0.04→0.07% | 90% | Integrated |
| Triton Fund-I | 2022 | $0.51M | $0.28M | 0.06→0.09% | 88% | Integrated |
| Bizom | 2023 | $0.31M | $0.1M | 0.05→0.07% | 74% | In progress |
| Camcom | 2024 | $0.22M | $0.07M | 0.05→0.06% | 55% | In progress |
| Recykal | 2024 | $0.2M | $0.07M | 0.05→0.06% | 78% | In progress |
| PagarBook | 2024 | $0.16M | $0.05M | 0.04→0.05% | 40% | Early |
One click into the owning view — each reads the same live governed dataset.