Forensic analytics · Indian listed companies Forensic analytics · UK listed companies

Annual Reports Don't Lie— But They Do Hide

We read the notes, the related-party tables and the cash-flow statement so you don't have to — and write the story the numbers are telling. Built for research analysts and investment teams who can't afford a governance blow-up in their coverage.

We read the notes, the audit committee report and the cash-flow statement so you don't have to — and write the story the numbers are telling. Built for fund managers, wealth managers and credit teams covering UK small and mid caps.

How a story reads · illustrative

Following the money, page by page

  1. Reported profit grows, but cash from operations does not keep pace.
  2. Receivables climb faster than revenue for three straight years.
  3. In the same period, advances flow to a group entity.
  4. The auditor adds an emphasis of matter on recoverability.
  5. What to watch in the next filing to confirm or clear it.

An example of structure only — not a finding on any company.

Who it's for

Diligence that holds up when a stock goes wrong

For professional and institutional users only.

Research analysts

Check a company before it enters your recommendation list, and keep a documented forensic read in your research records.

PMS & fund teams

Add an accounting-quality and governance layer to your process without hiring a forensic team.

Credit & lending teams

Spot stress in cash flows, receivables and contingent liabilities before it shows up in repayments.

Fund managers

A forensic layer on UK small and mid caps, where analyst coverage is thinnest.

Wealth managers

Documented diligence on the individual stocks you hold for clients.

Credit & lending teams

Early signs of stress in cash flow, receivables and going-concern disclosures.

The report

A score points the way. The story is what you pay for.

Every report is a written forensic narrative, reviewed by a Chartered Accountant, with each point tied back to the page of the annual report it came from.

The story

One page on what the numbers suggest is happening, in plain language.

The trail

How money and risk move through the company, step by step.

The evidence

Every point linked to an annual-report page or note.

What to watch

The disclosures that would confirm or clear each concern.

The screen

Our 40-point forensic score, as a summary in the appendix.

What we look at

Earnings quality

Accruals, revenue recognition, reliance on other income.

Cash conversion

Operating cash versus reported profit, working-capital build-up.

Balance-sheet stress

Debt trends, contingent liabilities, funding mismatches.

Related parties

Loans, advances and transactions with group entities.

Auditor & disclosures

Auditor changes, qualifications, emphasis of matter.

Promoter behaviour

Pledging, holding changes, dividends versus cash generation.

Library

Companies we have covered

Each is available as a full forensic story. Members get them all; anyone can buy a single report.

Our UK library has started with four LSE-listed companies and grows every month. Members get them all; anyone can buy a single report.

CompanySectorPublishedAction
DelhiveryLogisticsNov 2026Get report
CarTrade TechAuto marketplaceNov 2026Get report
BlackBuckTrucking platformNov 2026Get report
Manifesto TechnologiesTechnologyNov 2026Get report
Vikas LifecarePolymers & consumerNov 2026Get report
Kellton Tech SolutionsIT servicesNov 2026Get report
Protean eGov Technologiese-Governance servicesNov 2026Get report
Olectra GreentechElectric busesNov 2026Get report
SpiceJetAviationNov 2026Get report
CIAN Agro IndustriesAgri productsJun 2026Get report
Coming next
Waaree Renewable Technologies KNR Constructions Enviro Infra Engineers Latent View Analytics Patel Engineering Salasar Techno Engineering

Listing a company here means we have published a forensic story on it. It is not a rating, a finding of wrongdoing, or a view on the stock. Don't see the company you need? Request it.

CompanySectorPublishedAction
4imprint GroupPromotional productsNov 2026Get report
AB DynamicsAutomotive testingNov 2026Get report
Abingdon HealthDiagnosticsNov 2026Get report
accesso Technology GroupTicketing softwareNov 2026Get report

Listing a company here means we have published a forensic story on it. It is not a rating, a finding of wrongdoing, or a view on the stock. Don't see the company you need? Request it.

Pricing

Simple plans. Founding prices.

Early members keep these prices on renewal.

Single report

₹2,499 / report
Any company in our library, or one you choose
  • Full written forensic story
  • Page references for every point
  • 40-point screen in the appendix
Buy a report

Half-year access

₹14,999 / 6 months
Works out to ₹2,500 a month
  • Full library access, new and past
  • 4 on-demand reports on companies you choose
  • Email questions on any story
Choose half-year

On-demand reports: any NSE/BSE-listed company, delivered within 5–7 working days, up to 2 per month. Unused reports do not carry over past your plan. Payment: by UPI or bank transfer against invoice. Team pricing on request.

Single report

£499 / report
A UK-listed company you choose
  • Full written forensic story
  • Page references for every point
  • 40-point screen in the appendix
Enquire

Half-year access

£2,499 / 6 months
Library plus on-demand reports
  • Full library access as it grows
  • 4 on-demand reports on companies you choose
  • Email questions on any story
Enquire

On-demand reports: any UK-listed company (Main Market or AIM), delivered within 5–7 working days, up to 2 per month. Unused reports do not carry over past your plan. Payment: by invoice, payable by bank transfer in GBP. For professional investors only.

Samples

Read one before you pay

Ask for any of these and we'll email you the full report, free.

Logistics

Delhivery

Full forensic story with page references and the 40-point screen.

Request this sample
Auto marketplace

CarTrade Tech

Full forensic story with page references and the 40-point screen.

Request this sample
Trucking platform

BlackBuck

Full forensic story with page references and the 40-point screen.

Request this sample
Chartered AccountantAll India Rank 34
CFA CharterholderCFA Institute
Forensic accounting & equity researchLong-standing practice
Who's behind it

Sonali Soin, founder

D-Street Satya grew out of years of studying how corporate collapses showed up in the numbers long before the headlines — from Satyam and IL&FS to DHFL, Yes Bank and Gensol.

Satya means truth. Each report turns the disclosures a company is required to make into a clear account of what they show, so that every company you cover gets the same scrutiny, documented and verifiable.

Connect with Sonali on LinkedIn
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Email: hello@dstreetsatya.com WhatsApp: +91 85128 22171 Bengaluru, India