Your books should
open doors,
not close them.
We work with India's ambitious businesses, including MSMEs, family-owned enterprises, and growth-stage companies, building financial systems that survive scrutiny, give promoters genuine visibility, and hold up when the stakes are highest.
More than compliance.
We build investor-grade foundations.
We go beyond standard reporting and basic accounting. Our financial systems and strategic insights are built to withstand due diligence and scale with your ambition.
We Think Like CFOs
Not data entry accountants. We bring strategic financial perspective to every decision, helping you see around corners and plan for sustainable growth.
- Financial Documentation: Books, records & compliance
- Governance Structure: Policies and controls
- Investor Presentation: Pitch readiness & data room
Designed for Audits & Investors
Every system we build is audit-ready and investor-presentable from day one. No last-minute scrambling before due diligence, ever again.
- Real-Time Accuracy: Monthly reconciliations
- Compliance Current: All filings documented
- Investor-Grade Reports: Professional statements on demand
Senior Network, Direct Delivery
CA Ankit leads every engagement personally. Behind each assignment is a network of senior consultants, including former Big4 auditors, industry CFOs, and sector specialists.
- Manufacturing, FMCG, Distribution, Real Estate specialists
- Former statutory auditors & investigation professionals
- Ex-industry CFOs with on-ground operational perspective
Six service packages.
Each built for a specific situation.
Click any service to see exactly what it involves, who it's for, and how it typically unfolds.
Financial Due Diligence
Quality of Earnings (QoE) analysis
Revenue quality & sustainability
Net Working Capital (NWC) analysis
Debt & liability review
Red Flag Report
Best for
Investigations & Whistleblower Advisory
Financial fraud investigations
Whistleblower complaint handling
Related-party transaction audit
Post-investigation remediation
Best for
Internal Audit & Controls
Process risk mapping
Surprise transaction testing
Control gap report
SOP design & implementation
Follow-up review
Best for
Management Accounting & Virtual CFO
Monthly accounting & reconciliation
Management MIS dashboard
Quarterly Virtual CFO sessions
Expense controls review
Best for
Investor Readiness & Capital Preparation
Financial restatement & normalisation
3-year financial model
Data room construction
Mock due diligence
Valuation memo
Best for
Business Setup & Foundation
Incorporation & registrations
Accounting system setup
Compliance calendar
Founder's Financial Orientation
Best for
A transparent, consultative
process
From discovery to delivery in 2–6 weeks depending on scope. 100% transparent process, with no hidden costs and no surprises.
Free Discovery Call
30 minutes. We listen first to your business, your situation, and your current challenges. No pitch, no agenda. By the end of this call, you'll know exactly whether and how we can help you.
Free Discovery Call
30 minutes. We listen first to your business, your situation, and your current challenges. No pitch, no agenda. By the end of this call, you'll know exactly whether and how we can help you.
Readiness Assessment
A structured review of your financial state across 6 dimensions: reporting, controls, compliance, modelling, governance, and investor readiness. We identify the gaps, set priorities, and define the engagement scope.
Readiness Assessment
A structured review of your financial state across 6 dimensions: reporting, controls, compliance, modelling, governance, and investor readiness. We identify the gaps, set priorities, and define the engagement scope.
Fixed-Fee Proposal
A written proposal with exact deliverables, a named senior consultant where relevant, a firm timeline, and a fixed fee. No retainers with open-ended scope. No surprise costs mid-engagement.
Fixed-Fee Proposal
A written proposal with exact deliverables, a named senior consultant where relevant, a firm timeline, and a fixed fee. No retainers with open-ended scope. No surprise costs mid-engagement.
Structured Execution
CA Ankit leads every engagement directly. Milestone updates are scheduled upfront, not issued reactively. Weekly check-ins keep you informed. Quality reviews are built into the timeline.
Structured Execution
CA Ankit leads every engagement directly. Milestone updates are scheduled upfront, not issued reactively. Weekly check-ins keep you informed. Quality reviews are built into the timeline.
Delivery & Handoff
A final walkthrough with CA Ankit, where every finding is explained, every recommendation prioritised, and every next step is documented in plain language. All work product is yours.
Delivery & Handoff
A final walkthrough with CA Ankit, where every finding is explained, every recommendation prioritised, and every next step is documented in plain language. All work product is yours.
Real engagements.
Real outcomes.
Every case below is based on a real engagement. Names and identifying details are generalised to protect client confidentiality. The numbers are real.
The target was the only credible supplier. The valuation was not credible at all.
The Challenge
A Delhi NCR-based mid-size auto components manufacturer was facing a supply chain risk: their primary raw material was sourced from a single supplier whose capacity was being absorbed by larger players. To secure continuity, the board approved acquiring the supplier outright.
Key Findings
Inflated EBITDA from captive pricing
-₹7.2 Cr34% of the target's revenue came from sales to the acquirer itself, at rates 18–22% above market. Normalised EBITDA fell from ₹6.1 Cr to ₹4.4 Cr.
Key man risk: undisclosed
-₹2.8 CrThe plant GM had a verbal agreement for a 40% salary increase post ownership change. He held all critical customer relationships.
Capex liability not in the model
-₹4.2 CrTwo critical forging presses were operating beyond rated lifecycle. Replacement cost: ₹4.2 Cr within 24 months.
Working capital normalisation
-₹3.1 CrCreditor days artificially extended (97 vs industry 45) by deferring payments to MSME vendors, inflating free cash flow by ₹3.1 Cr.
Key Metrics
Valuation Walkdown
Know your
Investor Readiness score
Six questions. The same dimensions every investor and acquirer checks first. Takes 90 seconds and tells you exactly where your business stands.
What founders typically discover
Your score includes
A score from 0–100
Calibrated against where most businesses at your stage actually sit, not an aspirational benchmark.
Your most critical gap
The single dimension most likely to cause friction with an investor, acquirer, or lender.
2–3 prioritised actions
Specific steps, in order, to move your score meaningfully within 60–90 days.
Retake as you grow
Designed as a 90-day progress check, not just a one-time diagnostic.
What best describes your current stage?
Question 1 of 6
CA Ankit Gupta
Founding Partner
Chartered Accountant
Institute of Chartered Accountants of India
Built on the belief that
financial clarity is a
founder's advantage
I started Asquare because I kept watching the same thing happen: brilliant founders with genuinely strong businesses getting rejected by investors or failing due diligence, not because their fundamentals were bad, but because their financial infrastructure didn't match their ambition.
Traditional accounting practice focuses on what happened: filing returns, closing the year, keeping the regulator happy. That work matters. But when you're raising capital, navigating an acquisition, defending against a whistleblower complaint, or trying to understand why your margins keep slipping, you need a different kind of engagement: one where the CA is asking the uncomfortable questions, not just recording the answers.
“I've seen founders lose deals over spreadsheet errors, miss fundraises because their books weren't audit-ready, and overpay in acquisitions because the DD wasn't thorough. Asquare exists to make sure that never happens to our clients.”
Before founding Asquare, I worked across multiple engagements in audit, controls, and financial advisory, building a practice specifically designed around the gaps that growth-stage businesses typically fall into. Every engagement at Asquare is led by me directly, with no handoffs to juniors. When a situation calls for deeper or more specialised expertise, I draw from a hand-picked bench of senior consultants, each with over 30 years of individual, domain-specific experience.
Chartered Accountant
Qualified CA and Big 4 alum with deep expertise in financial systems, audit, and transacton advisory.
Multi-Sector Exp
Served clients across manufacturing, professional and industrial service industry, NGO’s and startup ecosystem.
Risk and Transaction Advisory
Conducted risk assessments and financial due diligence for investors and founders across Indian PE and M&A deals.
Founder-First Ethos
Practical, jargon-free guidance. Every engagement is personal: you work with me, not a junior team. Full availability during milestones.
When your situation demands it,we bring in who's done it before.
Not every engagement needs a domain expert. But for the ones that do, we draw from our vetted network of 30+ year veterans.
Audit & Assurance
Strategic Audit & Assurance Leader
"The controls were there on paper. The engagement found they weren't followed anywhere."
Statutory audit, internal controls framework, regulatory compliance review, and financial risk identification across listed entities and growth-stage MSMEs.
Finance Leadership
Ex-Industry CFO
"Investors don't invest in your revenue. They invest in the person behind the numbers."
Financial strategy, fundraising preparation, board reporting, treasury management, and finance team structuring across FMCG and distribution businesses.
Operations & Costing
Manufacturing Finance Controller
"Scrap variance over 3% means something is leaving the floor that wasn't sold."
Cost accounting, inventory valuation, production cost analysis, operational variance review, and factory-floor financial controls for manufacturing MSMEs.
Forensic & Investigation
Financial Fraud Specialist
"Fraud doesn't hide in the numbers. It hides in the gaps between the numbers."
Forensic accounting, fraud investigation, whistleblower complaint handling, evidence documentation, and dispute-related financial analysis.
How They're Selected
Vetted through joint work, not credentials alone
Every consultant in this network has worked with CA Ankit on prior engagements. Their quality was observed in the field, under pressure, on real client matters.
How They're Deployed
Brought in by name, for a specific situation
When your engagement demands specialist depth, we identify the right person and bring them in under CA Ankit's direct oversight. You always know who is working on your matter.
What This Means for You
Boutique agility with institutional depth
You get the personal attention of a founder-led practice and the specialist depth of a much larger firm without the overhead, the hierarchy, or the junior handoffs.
What founders & investors
actually say
A candid check on
fit
Our model is built for founders who value rigor over rubber stamps.
You are likely a good fit if...
We are probably not the right fit if...
Frequently asked questions
Everything you need to know about our services, process, and how we work with you.