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Snowman Logistics Ltd was publicly listed in 2014 at a huge premium to the issue price. The company was the first pan-Indian player in the temperature-controlled logistics industry, which was largely unorganized and fragmented. Changing consumer preferences and increasing demand for processed food were expected to drive the business’s growth rates and profitability. However, India updated its accounting standards in 2019, which impacted Snowman’s financial statements. Even after six years of listing, the company had failed to meet expected growth in revenue and profitability, and an assessment needs to be made about why it failed to meet investor expectations.

Snowman Logistics Ltd was publicly listed in 2014 at a huge premium to the issue price. The company was the first pan-Indian player in the temperature-controlled logistics industry, which was largely unorganized and fragmented. Changing consumer preferences and increasing demand for processed food were expected to drive the business's growth rates and profitability. However, India updated its accounting standards in 2019, which impacted Snowman's financial statements. Even after six years of listing, the company had failed to meet expected growth in revenue and profitability, and an assessment needs to be made about why it failed to meet investor expectations.

Ashiana Housing Ltd. (Ashiana) was a small real estate developer in India, specializing in mid-priced domestic housing. The company was tightly run and had attracted investment interest from large reputable firms, but its financial performance had recently deteriorated—a state that was reflected in the company’s declining share price. The industry was also undergoing change with far-reaching reforms, which was leading to consolidation and the exit of smaller players. Did Ashiana have the right business strategy for the market and was this the right time to invest in the company?

Ashiana Housing Ltd. (Ashiana) was a small real estate developer in India, specializing in mid-priced domestic housing. The company was tightly run and had attracted investment interest from large reputable firms, but its financial performance had recently deteriorated-a state that was reflected in the company's declining share price. The industry was also undergoing change with far-reaching reforms, which was leading to consolidation and the exit of smaller players. Did Ashiana have the right business strategy for the market and was this the right time to invest in the company?