STARTUP VALUATION

Know what your company is worth.

Not what someone is willing to pay.

Most founders learn what their company is worth from an investor's number. That's pricing. Mulyan exists for the ones who want to know the difference first.

Philosophy


Philosophy

Valuation is not a spreadsheet output. It is a judgment discipline.

Every business has a story. A valuation becomes credible when that story is translated into assumptions the numbers can support. Growth, margins, reinvestment and risk should reinforce one another not exist as isolated inputs. At mulyan, every valuation begins with understanding the business before building the model.

WHAT MULYAN DOES


WHAT MULYAN DOES

Startup Valuation

A 10-year, story-based DCF built from the ground up. Revenue modelled from real operating drivers not market share assumptions. Margins benchmarked against the right comparables and Economics. Cost of capital that reflects how a business genuinely de-risks over time. One discipline, done properly.

Selected work

Public valuations built in the same way private ones are.

01 / REBEL FOODS

01 / REBEL FOODS

"The financial story behind India's largest cloud kitchen business."

→ Read valuation

"The financial story behind India's largest cloud kitchen business."

→ Read valuation

"The financial story behind India's largest cloud Kitchen business."

→ Read valuation

02 /Minimalist

02 /Minimalist

"A bottom-up valuation of one of India's fastest-growing skincare brands."

→ Read valuation

"A bottom-up valuation of one of India's fastest-growing skincare brands."

→ Read valuation

"A bottom-up valuation of one of India's fastest-growing skincare brands."

→ Read valuation

03 / ZEPTO

03 / ZEPTO

"A valuation built from dark-store economics, contribution margins and reinvestment not funding headlines."

→ Read valuation

"A valuation built from dark-store economics, contribution margins and reinvestment not funding headlines."

→ Read valuation

"A valuation built from dark-store economics, contribution margins and reinvestment not funding headlines."

→ Read valuation

HOW THIS WORKS


HOW THIS WORKS

Analytical depth

Financial modeling, scenario design, market evidence and investment judgment held together in one coherent view.

Founder context

Built for moments when a founder needs clarity without noise, pressure or performative certainty.

Confidential by default

Sensitive company information, board context and transaction considerations are treated with discretion from the first conversation.

Contact


Contact

A confidential first conversation is usually enough to define the right scope.

Share the decision context, timeline and what the valuation work needs to support. The response will be direct, practical and discreet.

ayush@mulyan.co

Mulyan is an independent valuation advisory practice. All analysis published on this website is provided solely for informational and educational purposes and does not constitute investment advice, a recommendation to buy or sell any security, or a statutory valuation under IBBI, SEBI, or any other regulatory framework. Mulyan is not a SEBI-registered Research Analyst or Investment Adviser. Where a regulatory or compliance valuation is required, the engagement of a Registered Valuer or other appropriately authorised professional may be necessary.

Mulyan is an independent valuation advisory practice. All analysis published on this website is provided solely for informational and educational purposes and does not constitute investment advice, a recommendation to buy or sell any security, or a statutory valuation under IBBI, SEBI, or any other regulatory framework. Mulyan is not a SEBI-registered Research Analyst or Investment Adviser. Where a regulatory or compliance valuation is required, the engagement of a Registered Valuer or other appropriately authorised professional may be necessary.

Mulyan is an independent valuation advisory practice. All analysis published on this website is provided solely for informational and educational purposes and does not constitute investment advice, a recommendation to buy or sell any security, or a statutory valuation under IBBI, SEBI, or any other regulatory framework. Mulyan is not a SEBI-registered Research Analyst or Investment Adviser. Where a regulatory or compliance valuation is required, the engagement of a Registered Valuer or other appropriately authorised professional may be necessary.