Dick Smith collapsed two years after a private equity float called 'the greatest private equity heist'
Dick Smith Holdings · Electronics retail (listed)
The case in brief
Visible before detection
Checks that could have surfaced it, on hindsight
Unit economics & burn
Would have separated rebate income from trading margin.
Can mislead when: Cost allocation is a judgement call. Kubr shows its assumptions and lets the user change them.
Operating-metric verification
Would have tested inventory turnover.
Can mislead when: Contract staff do not appear in EPFO. Vahan access needs licensed APIs. Some businesses have no physical trace.
Drawing power vs books
Would have compared stock against lending limits.
Can mislead when: CARO is annual, so the signal comes late. It covers only borrowers above the ₹5 crore limit.
Where Kubr services would have helped
Financial diligence
Offered in India- C9 Would have separated rebate income from trading margin.
- C10 Would have tested inventory turnover.
- C14 Would have compared stock against lending limits.
Model check
Offered in India- C9 Would have separated rebate income from trading margin.
- C10 Would have tested inventory turnover.
- C14 Would have compared stock against lending limits.
Valuation context
Offered in India- C9 Would have separated rebate income from trading margin.
Portfolio monitor
Offered in India- C10 Would have tested inventory turnover.
Mapped from the checks each service runs. A hindsight reading of public records, not a promise that the failure would have been found.
Same pattern
A summary of public documents. It reports what the sources say. It is not Kubr's finding and not a statement of guilt.