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Published May 24, 2026 · Companies Tab Series · 8 min read

📄 Full Report — Quick-Learn Hub

Executive Summary · 44 Ratios · Finmagine™ · Investment Recommendation — tap to test your knowledge

How many companies have Full Reports and who can access them?

71 NSE-listed companies have Full Reports. Five sample reports (HDFC Bank, ICICI Bank, Titan, Laurus Labs, Pidilite) are publicly accessible without login. All other 66 reports require a Premium subscription. The Full Report tab only appears on the stock page for companies that have a report available.

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What is the Finmagine™ score?

A proprietary 21-parameter scoring framework that rates a company across 5 dimensions: Profitability, Growth, Financial Health, Valuation, and Efficiency. Each parameter is scored based on absolute thresholds and historical norms. A score above 15/21 indicates high quality across most dimensions; below 10/21 indicates structural weaknesses in multiple areas.

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What are the three investment verdicts in the recommendation section?

COMPELLING: Strong fundamentals, reasonable valuation, identifiable growth catalysts — a high-conviction candidate for further research. WATCHLIST: Good fundamentals but one or more concerns (valuation, near-term headwinds, or execution risk) that warrant monitoring before initiating. AVOID: Fundamental weaknesses, stretched valuation, or structural risks that outweigh the investment case at current levels.

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How many financial ratios does the Full Report cover?

44+ ratios across all major categories: Profitability (ROCE, ROE, OPM, NPM, Asset Turnover), Leverage (D/E, Interest Coverage, Debt/EBITDA), Efficiency (Receivables Days, Inventory Days, Cash Conversion Cycle), Liquidity (Current Ratio, Quick Ratio), and Valuation (P/E, P/B, EV/EBITDA, Dividend Yield, FCF Yield).

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How is the Full Report different from the live stock page data?

The Full Report is a point-in-time research document — a static, deeply researched analysis written at a specific date. The stock page shows live, continuously updated data. The report provides qualitative depth (business model narrative, competitive moat assessment, risk factors) that the dynamic tabs do not. Read the report for conviction-building; use the live tabs for monitoring.

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What does the audio commentary add?

Some Full Reports include an audio commentary track — a spoken walkthrough of the key findings, the investment thesis, and the primary risks. It covers the same material as the written report but in a format suited to listening while commuting or reviewing a position. The audio is typically 5–12 minutes for each report.

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What Is the Full Report?

The Full Report is a comprehensive, point-in-time equity research document produced by the Finmagine Research Team for selected NSE-listed companies. Unlike the live stock page tabs — which update dynamically with new financial data — the Full Report is a structured analysis written at a specific point in time, covering the full investment thesis from first principles.

71 Reports, 5 Free: Reports currently exist for 71 companies. Five sample reports (HDFC Bank, ICICI Bank, Titan, Laurus Labs, Pidilite) are publicly accessible to demonstrate the format. All other reports require a Premium subscription. The Full Report tab only appears on the stock page for companies that have a report available — it is not present for all 1,300+ covered stocks.

Point-in-Time Document: The Full Report reflects the company's situation at the time of writing — including the financial data, valuation, and investment verdict at that date. Always cross-reference the report's key metrics with the live Overview tab and Quarterly tab data to check whether the situation has materially changed since the report was published.

Report Structure — Five Sections

Section	What It Contains	How to Use It
Executive Summary	KPI grid (MCap, P/E, ROCE, ROE, D/E, OPM), one-line investment verdict, business description	Read first. If the verdict and core metrics do not fit your thesis, the detailed sections confirm why.
Comprehensive Ratio Analysis	44+ financial ratios with 5-year trend, industry benchmark, and individual commentary per ratio	Use to identify the 2–3 ratios that are most differentiated (exceptional or below-par) vs peers.
Business Model & Competitive Positioning	Revenue structure, competitive moat assessment, customer and supplier dynamics, industry position	The qualitative foundation — read before the ratio section to interpret the numbers in context.
Finmagine™ Score	21-parameter score across Profitability, Growth, Financial Health, Valuation, Efficiency	Quick quality screening — compare scores across multiple companies in the same sector.
Investment Recommendation	COMPELLING / WATCHLIST / AVOID verdict, key catalysts, risk factors, valuation assessment	The synthesis — read after forming your own view from the data, then compare your conclusions.

Finmagine™ Score

The Finmagine™ Score is Finmagine's proprietary 21-parameter quality scoring framework. Each parameter is binary — either the company meets the threshold (scores 1) or it does not (scores 0). The maximum score is 21/21.

The 21 parameters are distributed across five dimensions:

Profitability (5 parameters): ROCE above threshold, ROE above threshold, OPM consistency, NPM level, asset efficiency
Growth (4 parameters): Revenue CAGR, PAT CAGR, EPS growth consistency, reinvestment rate
Financial Health (5 parameters): D/E ratio, interest coverage, current ratio, FCF generation, debt trajectory
Valuation (4 parameters): P/E relative to growth, P/B vs ROE, EV/EBITDA vs peers, dividend track record
Efficiency (3 parameters): Working capital management, inventory days, receivables quality

Score Benchmarks: 17–21 = exceptional quality across almost all dimensions. 12–16 = solid business with identifiable weaknesses in 1–2 areas. 7–11 = mixed quality — requires careful analysis of which dimensions are weak and whether they are structural or cyclical. Below 7 = multiple structural concerns — a high bar to clear for long-term investors.

Generate Report — Create Your Own AI Analysis

For companies that do not yet have a Full Report, Premium subscribers can use the ✨ Generate Report button in the tab bar to create a custom AI analysis. This runs all available financial data, ratios, and concall summaries through the Finmagine AI engine to produce a structured research document on demand.

Generated reports follow the same 5-section structure as Full Reports — but are AI-generated from live data rather than written by the research team. They are best used as a starting framework for your own research rather than a final investment conclusion.

Full Report vs Generated Report: Full Reports are written by the Finmagine Research Team with deep qualitative analysis. Generated Reports are AI-produced from quantitative data and concall transcripts. Both are valuable — use Full Reports for covered companies when available, Generated Reports when you need structured analysis on a company not yet in the coverage universe.

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