AAKASHAYA PATRA SEVEN STAR SMART EDUCATION SERIES PART – 51 : 01.08.2020

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Standalone and Consolidated Financial Statements

Standalone Financial Statements show the financial position of the company alone without taking into consideration of its subsidiaries, joint ventures or associate companies. Consolidated Financial Statements show the financial position of the company itself along with its subsidiary companies, associate companies and joint ventures.

There are many single entity companies which do not have any subsidiaries, joint ventures or associate companies. Such companies will have standalone financial statements.On other hand companies that have number of subsidiaries, joint ventures or associate companies,will declare standalone financial statements of the parent company as well as consolidated financial statements of the entire business group.

In case of some companies, especially big corporate houses or conglomerates the standalone financial statements do not provide any meaningful insight as the main and more activities are done by its subsidiary companies, joint ventures or associate companies.One of the best examples of this can be Reliance Industries Ltd - a business group that as of now has 124 subsidiaries and 50 joint ventures / associate companies.Standalone v/s Consolidated Financials: Which one should be used in Stock Analysis? Investors should always make use of consolidated financial statements for analysis of stocks.This is because the consolidated financial statements show the complete picture of the financial position and business performance of an entire group of companies as opposed to one company's standalone position.But this does not mean that we completely ignore the standalone results.

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