One spine from quote to cash — the value, the conversion, the days, and the leakage at every handoff. Where deals turn into delivered work, invoices, and collected cash (and where they get stuck).
₹577 Cr is leaking or stuck across the 138-day quote-to-cash cycle — the largest single pool is ₹212 Cr at Collect. Close the billing lag and aged book to pull cash forward without selling a thing.
6 of 6 headline metrics improving vs prior · still off target: Total Revenue ₹9,303 Cr vs ₹9,500 Cr, DSO (Days Sales Outstanding) 52d vs 48d, Cash Conversion Cycle 86d vs 75d
Extend forward cotton cover; reforecast H2 margin net of input inflation.
Firm Shankar-6 prices + overdue AR pressuring near-term gross margin.
Each lost program is value-added & AMD revenue that won't repeat.
Each lost program is value-added & AMD revenue that won't repeat.
Gates the program go-live (SAP S/4, MES & sustainability).
The order-to-cash cycle for the manufacturing business, end to end. A quote becomes a confirmed order, an order becomes produced and shipped goods, shipped goods become an invoice, and an invoice becomes cash — 138 days from quote to cash, with ₹577 Cr leaking or stuck across the handoffs. Each stage links to the 360 that owns it and the records to work. (Multi-year garment programs & AMD supply contracts bill on a steadier cadence — this is the make-to-order lane.)
Value flowing through each stage, the conversion from the prior stage, days in-stage, and the leakage at the handoff.
The biggest levers are produce/ship (production lead time) and collection (DSO) — the order handoff is instant; billing lag is the quiet one.
Each leak quantified, owned, and linked to the 360 and the records that fix it — the working-capital recovery list.
Discount leakage — legacy mill estimators discount 14% vs 6% governed SAP
WIP / yield loss + margin slippage on lines below target margin
Unbilled WIP + export-doc lag — shipped goods not yet invoiced
Read this: the two biggest pools are ₹212 Cr aged AR (collect) and ₹150 Cr unbilled WIP / export-doc lag (bill) — both pure working capital. Closing the billing lag and the aged book pulls ~₹362 Cr of cash forward without selling a thing.
Value, conversion, days, leakage and owner — drill to the owning 360.
| Stage | Value | Conv. from prior | Days in-stage | Leakage | Owner | Drill |
|---|---|---|---|---|---|---|
| 🧾 Order / Quoting | ₹14,200 Cr | — | 20d | ₹95 Cr | CMO · RevOps | → |
| ✍️ Order / Booking | ₹9,800 Cr | 69% | 0d | — | CMO · Sales | → |
| 🧵 Produce / Ship | ₹9,400 Cr | 96% | 58d | ₹120 Cr | CMO · Manufacturing | → |
| 📄 Bill / Invoice | ₹9,303 Cr | 99% | 8d | ₹150 Cr | Project controls · Finance | → |
| 💵 Collect / Cash | ₹8,950 Cr | 96% | 52d | ₹212 Cr | Treasury · Collections | → |