How our AI analysis works

Arthneeti analyzes the earnings calls (concalls) of 1,500+ Indian listed companies. This page shows exactly how a transcript becomes the analysis you read — including a real example you can verify against the original filing — because research you can’t audit is research you shouldn’t trust.

The pipeline

1. 1

   Source: official transcripts only

   Every analysis starts from the company's own earnings-call transcript or investor presentation, filed on BSE/NSE. We never use tips, forums, or third-party commentary as source material.

2. 2

   Extraction: the same questions, every company

   AI reads the full transcript and answers a fixed set of research questions — revenue drivers, margins, capex, order book, fundraising — the same set for all 1,500+ companies, so results are comparable across stocks and quarters.

3. 3

   Structuring: reported vs guidance, kept separate

   Statements are split into what management reported (facts, with numbers) and what management guided (forward-looking). Guidance is never presented as a reported fact — a hard rule enforced in code, not editorial judgment.

4. 4

   Scoring: quarter-over-quarter comparison

   Each quarter's answers are compared against the previous quarter's guidance to build the management scorecard you see on concall pages — did the numbers move the way management said they would.

A real example — verify it yourself

From the Bajaj Finance August 2026 earnings call (transcript filed on BSE). Our research question and the AI’s extracted answer, verbatim as it appears on the site:

Accuracy rules we hold ourselves to

• Source-bound: every claim must come from the transcript itself. If the call didn’t cover a topic, we say “no information” — we never fill gaps.
• Guidance is labelled guidance: forward-looking statements are filtered out of headlines and summaries so a target is never dressed up as a result.
• Same questions for everyone: no cherry-picking which topics to cover per company.
• Errors are fixable by you: spot a wrong extraction? Message the founder directly on WhatsApp (bottom of every page) — verified errors are corrected and the extraction re-run.

Momentum Score

A 0–100 measure of how a company’s share price has moved compared with other Indian stocks. It is recomputed every night after the market closes, for every company we cover with a market cap of ₹500 Cr or more and at least a year of prices.

1. For each company we take the price change over the last 12, 6 and 3 months.
2. Each change is turned into a rank: the share of the other covered companies whose price did worse over the same period (0 = weakest, 100 = strongest).
3. Score = 40% × 12-month rank + 40% × 6-month rank + 20% × 3-month rank.
4. If today’s price is below 80% of the stock’s all-time high, the score is halved.
5. Bands: Strengthening 70 and above, Steady 40–70, Cooling below 40.

It is calculated the same way for every stock and describes past price behaviour only. It is not investment advice, a price target or a prediction of future returns, and it says nothing about the business itself — for that, see what management guided on the earnings call.

What we deliberately don’t do

Arthneeti is a research and analytics platform, not a SEBI-registered investment adviser. We do not give buy/sell recommendations, price targets, or return predictions — and no output on this site should be read as investment advice. We show you what management said and how it compares to what they said before; the judgment is yours.