1. Healthcare Client
ERP Migration and Location-Based Revenue Tracking
1. Problem Statement:
A PAN India chain specializing in occupational healthcare services was facing challenges with their existing accounting system, which lacked real-time visibility and control. The organization had multiple client locations across the country, and they needed a more streamlined solution to monitor revenues, costs, and doctor attendance across these locations. The manual processes were inefficient and caused operational bottlenecks, impacting decision-making. The company also struggled to gain a unified view of their performance at different locations, affecting their ability to improve operational efficiency.
2. Approach We Adopted:
To resolve these challenges, we worked closely with the client to migrate from their existing accounting system to a comprehensive ERP system that could provide centralized control and greater insights. The new ERP system enabled the company to:
- Track revenues and costs in a structured manner, location-wise, revenue centre-wise, and cost centre-wise.
- Implement geo-tagging functionality to monitor doctors' presence and work timings at different client locations.
- Develop an intuitive dashboard that provides real-time data on operational efficiency and highlights potential red flags.
We also helped structure the ERP to give management the ability to make data-driven decisions at all levels by breaking down information by client and location, enabling greater transparency and control.
3. Solution & Way Forward:
The ERP system empowered the client with improved financial visibility and operational control. The geo-tagging and location-based reporting functionalities allowed the management to monitor doctors’ activities efficiently, ensuring compliance with schedules and client expectations. The real-time dashboard provided the leadership team with insights into operational challenges and helped pinpoint areas for improvement.
With the ERP system in place, the client is now better equipped to scale operations across India, with more accurate data for planning and decision-making. Moving forward, we plan to further fine-tune the ERP system to include predictive analytics, offering insights into future trends and opportunities for enhanced efficiency and revenue growth.
2. Fintech Client
Navigating India's Regulatory Landscape
1. Problem Statement
A UK-based fintech company offering products such as wallets, payment gateways, FFMC, and international inward remittance services, wanted to enter the Indian market. However, they faced numerous regulatory and compliance challenges, including adherence to FEMA (Foreign Exchange Management Act) regulations and international taxation requirements. The company required expert advice on obtaining the necessary licenses from Indian regulators and ensuring smooth operations in a complex regulatory environment.
2. Approach We Adopted:
Our team assisted the client in formulating a detailed India entry strategy, which included regulatory compliance and market navigation. We provided comprehensive advisory services, covering:
- FEMA compliance and guidelines for foreign entities setting up operations in India.
- International taxation advisory to ensure smooth cross-border operations.
- Assistance with the application processes for licenses and approvals from Indian regulators.
We also guided the company in preparing the necessary documentation and liaising with the relevant authorities to ensure timely approvals
3. Solution & Way Forward:
With our support, the client successfully navigated the regulatory landscape and secured the necessary licenses to launch their fintech products in India. They are now positioned to expand their product offerings, catering to the growing demand for digital financial services in the region. Moving forward, we continue to support them by ensuring compliance with evolving regulations and assisting in their expansion strategies across other emerging markets.
3. Construction Client
Transformation from Family Business to Enterprise
1. Problem Statement
An Indian construction company was looking to transition from a family-operated business model to a more structured, enterprise-level organization. To achieve this, they needed to overhaul their financial processes, create standard operating procedures (SOPs), and strengthen their internal operations to attract investments from AIFs (Alternative Investment Funds) and private equity (PE) funds. Additionally, they sought to implement an ERP system to streamline operations and ensure better financial and operational oversight.
2. Approach We Adopted:
We provided comprehensive support to the client in their journey towards becoming an enterprise-ready business:
- Clean-up of financial books to ensure accurate and transparent reporting.
- Creation of robust SOPs to standardize processes and improve operational efficiency.
- Preparation of a detailed financial model and investment memorandum to attract potential investors.
- Development of a clear reporting structure and approval hierarchy to improve internal governance.
- Implementation of an ERP system to integrate operations, streamline workflows, and ensure real-time access to business data.
We also assisted them in building a strong operations team to manage day-to-day activities more efficiently.
3. Solution & Way Forward:
The client is now well-positioned as an enterprise-level business with enhanced operational efficiency and improved financial transparency. The implementation of an ERP system has allowed them to integrate and streamline operations, improving decision-making capabilities. With a clean financial structure and a solid foundation for growth, the client is now attracting interest from investors and is poised to scale further. We continue to support them as they pursue strategic growth initiatives and expand their market presence.
4. Airports Group
Valuation and Financial Modeling for Expansion
1. Problem Statement
An international airports group sought our assistance in valuing an existing entity and a future entity to help them in the process of expansion and investment planning. The group needed a detailed financial model to assess the potential value of their airport operations, taking into account both existing assets and future growth projections.
2. Approach We Adopted:
Our team worked closely with the management to understand the airport group's operations, both present and future, and helped develop:
- A detailed valuation of the existing entity.
- A robust financial model that projected the future value based on industry trends, market conditions, and expansion plans.
- A structured approach to financial analysis and scenario modeling to assist the management in making informed decisions.
3. Solution & Way Forward:
The financial model we developed provided the airports group with a clear roadmap for future growth and expansion. It also helped them assess investment opportunities and determine the value of the assets, facilitating negotiations with investors and stakeholders. Moving forward, we plan to continue supporting them with updated financial models as their operations grow and evolve.
5. Logistics Client
Expansion & Financial Strategy for Dry Ports Business
1. Problem Statement
A group based in the GCC region was looking to expand its international logistics network and grow its dry ports business, including cold and dry storage facilities. The company required assistance in financial modeling, market research, and investor presentations to secure funding for their expansion
2. Approach We Adopted:
We provided the client with a comprehensive suite of services to support their logistics and storage business expansion:
- Developed a detailed financial model to assess the viability and potential returns of their expansion plans.
- Prepared a compelling pitch deck and investment memorandum to present to potential investors.
- Conducted extensive market research to identify growth opportunities and the competitive landscape in the logistics sector.
We also provided insights on best practices for expanding their dry ports business and facilitating partnerships for their cold and dry storage solutions.
3. Solution & Way Forward:
With our assistance, the client successfully secured funding for their expansion initiatives, including their dry ports and cold storage facilities. The financial model and pitch deck played a crucial role in attracting investors, while the market research provided valuable insights for strategic decision-making. Moving forward, we will continue to support them in monitoring their expansion and assisting with further financial planning as they grow their logistics network.
6. Strategic Acquisition & Enterprise Structuring for a Leading API Manufacturer
Client Overview
A Hyderabad-based manufacturer of Active Pharmaceutical Ingredients (APIs) set out to accelerate its next phase of growth through the acquisition of two pharmaceutical manufacturing businesses. The objective extended beyond increasing production capacity—it was about creating a stronger manufacturing platform, expanding capabilities, and establishing a corporate structure that could support long-term expansion.
The Challenge
Both target businesses owned modern manufacturing facilities with significant production capacity. However, operational inefficiencies, financial challenges, and legacy risks had prevented them from realizing their full potential.
For the acquiring company, the transaction required more than identifying attractive assets. It demanded a comprehensive evaluation of financial, legal, commercial, and structural considerations to ensure each acquisition delivered long-term value while protecting the business from unnecessary risk.
The engagement required:
- Comprehensive financial and commercial due diligence
- Independent enterprise valuation
- Evaluation of legal, tax, and compliance exposures
- Transaction structuring aligned to each target's risk profile
- Capital planning and acquisition financing
- Post-acquisition corporate restructuring
- Transaction documentation and stakeholder negotiations
- End-to-end execution through closing
Our Approach
Rather than treating both acquisitions as identical transactions, we evaluated each business independently and designed structures that reflected their unique commercial realities.
Our multidisciplinary team conducted detailed financial and commercial due diligence, assessed enterprise value, identified material transaction risks, and worked closely with management throughout negotiations and execution.
Beyond the acquisition itself, we focused on designing a corporate structure capable of supporting future investments, acquisitions, and sustainable growth.
The Solution
Following our assessment, two distinct acquisition structures were recommended.
Company One — Share Acquisition
The first transaction was structured as a complete share acquisition, allowing the acquirer to assume ownership of the business as a going concern while preserving operational continuity, customer relationships, regulatory approvals, and existing business contracts.
Company Two — Asset Acquisition
For the second business, our analysis identified historical compliance exposures and contingent liabilities that made a traditional share acquisition less favourable.
Instead, we recommended an asset acquisition, enabling the client to acquire the manufacturing infrastructure, operational capabilities, and strategic assets while ring-fencing legacy legal and compliance risks associated with the existing entity.
Following the successful completion of both transactions, we designed and implemented a holding company structure under which the acquired businesses were consolidated as subsidiaries. This created a streamlined corporate framework capable of supporting future acquisitions, capital infusions, and long-term strategic expansion.
Our engagement also included advising on capital structuring, private placement planning, shareholder arrangements, transaction documentation, regulatory compliance, and the fulfilment of all conditions required before and after transaction close.
The Outcome
The engagement transformed three independent businesses into a single, strategically aligned enterprise platform positioned for long-term growth.
Key Outcomes
- Successfully completed two independently structured strategic acquisitions
- Significantly expanded manufacturing capacity through high-value production assets
- Mitigated historical legal, compliance, and operational risks through tailored transaction structures
- Established a scalable holding company framework to support future acquisitions and investment
- Created an integrated business with an annual turnover of approximately ₹350 crore
- Positioned the enterprise for future strategic investment and potential acquisition by a larger industry participant
What Made the Difference
The success of the engagement was not defined by completing two acquisitions—it was defined by structuring each transaction around the client's long-term strategic objectives.
By combining transaction advisory, valuation, due diligence, corporate restructuring, and execution under a single engagement, we helped the client build a stronger, more scalable enterprise while protecting long-term shareholder value.
7. Strategic Financial Feasibility & Investment Advisory for an Airport Expansion Project
Client Overview
A leading Sri Lanka-based airport management company was planning the expansion and commercial development of an airport to strengthen regional connectivity and support future passenger and cargo growth. To secure project financing, the client required a comprehensive financial feasibility assessment that could demonstrate the project's commercial viability and withstand the scrutiny of financial institutions.
The Challenge
Airport infrastructure projects demand significant capital investment, involve long development cycles, and require careful evaluation of future commercial performance. Building a credible investment case meant understanding far more than financial projections—it required a deep appreciation of airport operations, aviation economics, passenger and cargo demand, revenue diversification, capital expenditure, operating costs, financing structures, and long-term cash flow sustainability.
The client required an independent advisor who could answer fundamental investment questions:
- Is the proposed expansion commercially viable?
- What are the primary drivers of long-term revenue generation?
- When is the project expected to achieve financial break-even?
- Can future cash flows comfortably support debt servicing?
- Will the investment case meet the expectations of lending institutions?
Our Approach
We began by developing a comprehensive understanding of the airport's operating model, commercial objectives, and long-term expansion strategy. Combining industry research with financial analysis, we translated operational assumptions into a robust investment model that reflected the realities of airport infrastructure development.
Our engagement included:
- Studying airport operations and the proposed expansion strategy
- Modelling passenger, cargo, and non-aeronautical revenue streams
- Developing demand and traffic assumptions
- Forecasting revenue, operating expenditure, capital expenditure, and long-term cash flows
- Assessing project viability through break-even and financial sustainability analysis
- Evaluating financing options and debt servicing capacity
- Developing an investment-ready financial model to support lender engagement
The Solution
We developed an integrated financial feasibility model that reflected the commercial, operational, and financial dynamics of an airport business.
The model enabled the client to evaluate multiple growth scenarios, understand long-term financial performance, and assess the project's resilience under different financing assumptions. It provided a clear view of revenue generation, operating profitability, capital requirements, and debt repayment capacity throughout the life of the project.
Beyond the financial model, we supported the client during engagements with leading banking institutions in Sri Lanka by presenting the investment case, articulating the project's commercial rationale, demonstrating financial sustainability, and addressing lender queries with structured, data-driven analysis.
The Outcome
The engagement provided the client with a credible financial roadmap for one of its most significant infrastructure investments while strengthening its ability to engage confidently with potential lenders.
Key Outcomes
- Developed a comprehensive financial feasibility model for a large-scale airport expansion project
- Built a diversified revenue model covering passenger, cargo, and commercial operations
- Established project viability through detailed financial and break-even analysis
- Demonstrated sustainable debt servicing capacity under multiple financing scenarios
- Strengthened lender discussions through a structured, investment-ready business case
- Enabled informed capital investment decisions backed by rigorous financial analysis
What Made the Difference
Delivering a credible feasibility assessment required more than financial modelling. It required understanding the commercial realities of airport infrastructure, translating operational complexity into financial clarity, and presenting a compelling investment case that inspired confidence among lenders.
By combining sector research, financial expertise, and disciplined execution, we helped transform an infrastructure vision into a structured, investment-ready opportunity.
8. Strategic Transaction Advisory for a Landmark Real Estate Development
Client Overview
A leading Hyderabad-based real estate developer with a portfolio of more than ten ongoing projects was evaluating options to unlock capital for the development of a landmark 6 million sq. ft. mixed-use project. The initial objective was to raise institutional investment to accelerate project execution and support the next phase of development.
The Challenge
Large-scale real estate developments require more than access to capital. They demand the right capital, the right partners, and a transaction structure that aligns commercial interests over the long term.
Following a detailed assessment of the opportunity, it became evident that the project was unlikely to meet the investment criteria typically required by institutional financial investors due to project-specific and regulatory considerations.
Continuing down the fundraising path would have consumed significant time and resources without necessarily delivering the desired outcome.
The client needed more than capital raising—they needed a transaction strategy capable of unlocking the full value of the asset while preserving long-term ownership and commercial interests.
Our Approach
Rather than focusing on how to raise capital, we challenged the underlying objective by asking a more fundamental question:
What transaction structure would create the greatest long-term value for the business?
Our team undertook a comprehensive commercial, financial, and strategic evaluation of the project, analysing its development potential, capital requirements, ownership objectives, market positioning, and investor landscape.
Based on our assessment, we recommended repositioning the opportunity from a traditional fundraising exercise to a strategic development partnership.
This approach would allow the client to leverage the capabilities of an established developer while retaining the long-term value of its landholding.
The Solution
We restructured the transaction strategy around the formation of a strategic development partnership rather than an institutional investment.
Our engagement included:
- Repositioning the opportunity for strategic real estate developers
- Developing financial models and commercial evaluations
- Preparing valuation analyses and transaction structures
- Coordinating financial and commercial due diligence
- Supporting negotiations with leading listed and private real estate developers
- Structuring a partnership that aligned the commercial objectives of both parties
- Providing end-to-end transaction advisory through execution
The final structure enabled our client to transition from the role of project developer to strategic landowner, while an experienced development partner assumed responsibility for project execution, capital deployment, and development management.
The Outcome
The engagement transformed a challenging fundraising exercise into a strategic partnership designed to maximise long-term enterprise value.
Key Outcomes
- Repositioned the transaction from institutional fundraising to a strategic development partnership
- Facilitated discussions with leading listed and private real estate developers
- Structured a partnership supporting the development of approximately 6 million sq. ft. of real estate
- Enabled a proposed development investment exceeding ₹500 crore
- Preserved the client's long-term ownership while unlocking the commercial value of its land assets
- Delivered end-to-end transaction advisory, valuation, financial modelling, due diligence, negotiations, and execution support
What Made the Difference
The success of the engagement was driven not by finding capital, but by identifying the right transaction strategy.
By challenging the original approach and redesigning the structure around long-term commercial objectives, we helped the client unlock greater value, reduce execution risk, and position one of its largest developments for successful delivery.
9. Structuring an Institutional Ownership Platform for a Fractional Hospitality Investment
Client Overview
A real estate developer was conceptualizing a premium hospitality project in one of India's leading tourist destinations and sought to create an investment model that combined fractional ownership with institutional governance, transparency, and long-term value creation.
The vision extended beyond developing a hospitality asset. The objective was to establish a professionally structured investment platform that would inspire investor confidence, strengthen governance, and support future scalability.
The Challenge
Fractional ownership has emerged as an attractive investment model, but many projects continue to face challenges around governance, ownership transparency, regulatory compliance, investor protection, and long-term commercial sustainability.
Traditional structures often expose investors to unnecessary risks, with returns expected before the underlying asset becomes operational, increasing financing costs and placing pressure on project economics.
The client required an ownership model that could balance the interests of investors, developers, and future operators while creating a transparent and scalable framework capable of supporting long-term growth.
Our Approach
Rather than approaching the engagement as a conventional real estate transaction, we viewed it as the creation of an institutional investment platform.
Our focus was to design a governance-led ownership structure that combined regulatory compliance, commercial viability, and investor confidence within a single framework.
Every aspect of the structure was evaluated to ensure that ownership remained transparent, investor interests were protected, capital deployment was efficient, and the platform could support future expansion.
The Solution
We advised on the end-to-end structuring of a Special Purpose Vehicle (SPV) that would own, develop, and govern the hospitality asset.
Our engagement included:
- Designing the SPV ownership and governance framework
- Structuring investor participation through equity ownership
- Introducing a dematerialised shareholding model to create transparent, transferable, and legally recognised ownership
- Developing an optimal capital structure combining equity and debt financing
- Aligning investor returns with operational cash flows rather than pre-operational capital deployment
- Advising on the commercial, governance, and regulatory framework supporting the investment platform
The proposed development, with an estimated project value of ₹25–30 crore, is expected to be professionally operated by a leading hospitality brand, further strengthening its long-term investment proposition.
The Outcome
The engagement transformed a conventional fractional ownership concept into an institutionally governed investment platform designed to attract long-term capital and build lasting investor confidence.
Key Outcomes
- Designed an institutional ownership structure for a premium hospitality development
- Established a compliant SPV-based investment platform with strong governance
- Introduced dematerialised equity ownership, enhancing transparency and transferability for investors
- Improved project economics by aligning investor returns with operational cash flows
- Strengthened investor confidence through a governance-led ownership framework
- Created a scalable platform capable of supporting future hospitality investments and portfolio expansion
What Made the Difference
The value of the engagement lay not in creating another fractional ownership structure, but in rethinking how hospitality investments could be owned, governed, and scaled.
By combining strategic structuring, institutional governance, and commercial insight, we helped the client build an investment platform designed to earn investor confidence, protect stakeholder interests, and support sustainable long-term growth.
10. Building Financial Discipline for a High-Growth Lithium-Ion Battery Manufacturer
Client Overview
A leading lithium-ion battery manufacturer entered the Indian electric vehicle ecosystem during a period of rapid industry expansion. Backed by institutional funding of over ₹30 crore and led by a technically strong founding team, the company experienced significant commercial growth as demand for electric mobility accelerated.
As the business expanded, management recognised the need for stronger financial systems capable of supporting increasing operational complexity, informed decision-making, and long-term scalability. Numbro Consulting was engaged as the company's Fractional CFO partner to help build that foundation.
The Challenge
Commercial growth had significantly outpaced the evolution of the company's financial and operational systems.
While the business had established strong manufacturing capabilities and secured large customer orders, critical areas such as inventory management, product costing, financial reporting, and management information systems had not matured at the same pace.
Our assessment identified several interconnected challenges that were limiting visibility, profitability, and financial control:
- Working capital locked in inefficient inventory management
- Limited financial visibility due to the absence of a structured MIS framework
- Inaccurate product costing within a process manufacturing environment
- Pricing decisions based on incomplete cost information
- High customer concentration creating commercial risk
- Under-recognition of internally developed intellectual property despite significant investment in research and development
- Financial reporting practices that no longer reflected the scale and maturity of the business
Our Approach
Rather than addressing each challenge independently, we evaluated the business as an interconnected financial and operational ecosystem.
Our engagement focused on strengthening the systems, controls, and financial discipline required to support the company's next phase of growth. Every recommendation was designed to improve visibility, strengthen governance, enhance profitability, and enable leadership to make informed decisions with greater confidence.
The Solution
Working closely with the leadership team, we implemented a series of strategic financial initiatives designed to strengthen the company's operating foundation.
Our engagement included:
- Designing a comprehensive Management Information System (MIS) to support planning, budgeting, and performance monitoring
- Introducing an appropriate process costing methodology to improve pricing accuracy and profitability analysis
- Strengthening inventory classification, tracking, and working capital management
- Improving financial visibility across manufacturing operations and business performance
- Evaluating customer concentration risks and supporting diversification planning through financial analysis
- Advising on the recognition and capitalisation of internally developed intellectual property and research investments
- Enhancing financial reporting practices to better support strategic planning and future growth
The Outcome
The engagement strengthened the financial foundations of a rapidly growing manufacturing business, enabling leadership to manage growth with greater visibility, discipline, and control.
Key Outcomes
- Improved visibility across inventory and working capital
- Established a structured MIS framework for management reporting and performance monitoring
- Introduced scientific product costing to strengthen pricing and profitability
- Enhanced financial reporting to support better operational and strategic oversight
- Identified opportunities to strengthen the balance sheet through appropriate recognition of internally developed intellectual property
- Built a scalable financial framework capable of supporting the company's next phase of expansion
What Made the Difference
The value of the engagement extended beyond improving financial reporting. By strengthening the systems behind planning, costing, inventory, governance, and performance management, we helped transform finance into a strategic function that could support sustained business growth.
As businesses scale, financial discipline becomes as important as commercial ambition. Building that discipline is where long-term value is created.
11. Transforming Unit Economics for a Multi-Outlet Bakery Chain
Client Overview
A rapidly growing bakery chain operating multiple outlets was experiencing increasing customer demand and strong revenue growth. While sales continued to rise, profitability failed to improve at the same pace, prompting management to reassess the financial sustainability of its growth strategy.
Numbro Consulting was engaged as the company's strategic finance partner to strengthen commercial decision-making, improve profitability, and establish a scalable financial framework for future expansion.
The Challenge
The business had successfully built a loyal customer base and generated consistent order volumes across multiple locations. However, a significant proportion of sales originated through online food delivery platforms, creating hidden pressure on profitability.
Our assessment revealed that increasing revenue was not translating into stronger financial performance.
Several structural issues were affecting the business:
- Marketplace commissions, discounts, and promotional campaigns were significantly reducing realised margins
- Customer acquisition through third-party platforms generated low or, in some cases, negative contribution margins
- Higher-margin walk-in customers represented a smaller share of total sales
- Product-level profitability and channel-wise performance were not being measured effectively
- Management lacked the financial visibility required to evaluate commercial performance beyond topline revenue
Our Approach
Rather than focusing on cost reduction alone, we analysed the business through the lens of unit economics and commercial profitability.
Our engagement focused on helping management understand where value was being created, where margins were being lost, and how different customer acquisition channels influenced long-term business performance.
By combining financial analysis with operational insight, we shifted the conversation from increasing sales volumes to improving the quality of revenue.
The Solution
Working closely with the management team, we introduced a financial framework designed to improve visibility into profitability and support better commercial decisions.
Our engagement included:
- Developing a structured MIS highlighting channel-wise financial performance
- Analysing contribution margins across walk-in, takeaway, and marketplace sales
- Quantifying the financial impact of commissions, discounts, and promotional campaigns
- Strengthening visibility into operating costs and monthly cash burn
- Supporting management in improving customer mix through greater focus on direct engagement
- Enhancing financial reporting to support profitability-led decision-making
The Outcome
The engagement helped management move beyond revenue-focused decision-making and build a clearer understanding of the commercial drivers influencing long-term profitability.
Key Outcomes
- Improved visibility into channel-wise profitability and contribution margins
- Demonstrated the financial benefits of increasing direct customer engagement
- Significantly reduced monthly operating losses through focused profitability initiatives
- Established structured financial reporting to support commercial and operational decisions
- Enabled leadership to balance growth with stronger unit economics and sustainable profitability
What Made the Difference
The engagement demonstrated that stronger financial performance is not always achieved by increasing sales—it is achieved by understanding the economics behind every sale.
By improving visibility into margins, customer acquisition costs, and channel performance, we helped management make commercially stronger decisions and build a more sustainable path to long-term profitability.
