TRINETRA · The third eye on the Indian stock market

Fundamentals — what the filings actually say

TRINETRA normalises NSE's quarterly results filings into comparable metrics: revenue and net-profit growth (year-on-year, matched by calendar quarter rather than row order), net and EBITDA margins, cost structure as a share of revenue, effective tax rate and interest coverage — plus a sector peer percentile so a margin number means something.

Bank filings use a different schedule, so they are detected from the filing itself and reported with gross NPA and capital adequacy instead of revenue-based margins. Where a bonus or split changes the share count, EPS growth is suppressed rather than reported as a decline.

The section states its limits as plainly as its numbers. NSE's results feed is roughly seven quarters behind, so these are FY25-era financials describing business quality, never a timing signal. ROE, ROCE, debt-to-equity and the Piotroski F-score need a balance sheet that no keyless source provides, so they are listed as unavailable rather than estimated — and a backtest of the quality score against forward returns found no measurable relationship.

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