We take your last three years of financials, your capital structure, and your corporate records, and test them against the eligibility framework both exchanges apply — post-issue paid-up capital of ₹25 crore or less, the December 2024 operating-profit test (EBITDA of ₹1 crore in two of the last three years), net worth, net tangible assets, leverage, track record, and the platform-specific filters (BSE SME's balance-sheet tests, NSE Emerge's free-cash-flow test).
Every criterion gets a verdict: red (blocking — must be fixed before filing), amber (needs work or a judgment call), green (clear). The output is a dated remediation plan, not a vibe. If a red can't be fixed — say the profit test fails two years running — we tell you that now, when it costs a conversation, instead of after you've paid a banker a retainer.
This stage also settles the platform question. BSE SME and NSE Emerge test different things, and the answer isn't always obvious. A company with strong cash flows but a leveraged balance sheet may clear Emerge comfortably and struggle on BSE SME. We run both.
Two to four weeks. This is diagnostic work — it should be fast. Anyone who needs three months to tell you whether you're eligible is selling you something else.
Where companies stumble: treating eligibility as a formality and discovering the profit-test failure six months into preparation. Or the opposite — assuming they're ineligible on hearsay ("our turnover is too small") when the criteria test capital and profits, not turnover. Both errors cost a year. The scorecard exists to kill both.
A company that clears this stage knows its platform, its timeline, and its fix-list. Everything downstream — restatement priorities, governance sequencing, even banker selection — is calibrated to this verdict. Skip it and every later stage is built on assumptions.
Take the scorecard, then let's talk about the gaps — with a dated plan, not a sales pitch.
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