Annual Reports are not easy to read!
What parts should you focus on?
We look at Titan’s annual report for 2024 and see what parts we should focus on.
Here is a short video outlining how to read an Annual Report
As you begin with any Annual Report, focus on the following areas
– Letter from Management
– Management Discussion & Analysis
– Any business numbers – Capacity, Volumes
– Financial Statements – Consolidated & Standalone
– Notes to accounts for any number that appears large
Note down numbers which appear large. Check how have they moved over the years.
Pick up multiple reports for the same company, and go through them, so see if the management commentary has changed.
As you become more familiar with businesses, start digging deeper in areas such as Auditors’ Report, Related Party Transactions etc.
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