Ambit Capital : Ugly, bad, not so good Companies


The Ugly
 Geodesic: Are the revenues real?

Educomp Solutions: The accounts appear to be window dressed

Financial Technologies (FTech): Suspicious subsidiary accounts; corporate
governance concerns


The bad

 Rolta India: Tricky accounting practices

 MCX: Suspicious related party deals and seemingly artificial volumes

The not so good

Tech Mahindra/Satyam: Weaker disclosure norms; accounting not up to
international standards; flags on corporate governance

Infosys: Letting down its own governance standards?

 KPIT Technologies: Magnified margins

Ambit Capital Private Limited
Ambit House
449, Senapati Bapat Marg, 
Lower Parel, 
Mumbai – 400 013
Tel.: + 91- 22 - 3043 3000
Fax: + 91 - 22 - 3043 3100

Analysts:
Ankur  Rudra, CFA - ankurrudra@ambitcapital.com
Tel: +91 22 3043 3211

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