Rajeev Khandelwal's capital-advisory background provides a setting for a familiar but important distinction: profit and available cash can move in different directions. A business may sell more at attractive margins while waiting longer for payment. The resulting funding need is not explained by the profit statement alone, because the enterprise is carrying activity on behalf of its customers.
Follow one sale to the bank
The operating cycle includes purchasing, production, delivery, invoicing and collection. Each stage can require resources before the customer pays. Tracing a representative transaction makes the gap visible and helps management identify whether the need comes from normal growth, delayed paperwork, changing customer terms or a problem in the quality of the underlying sale.
Separate expansion from deterioration
Higher receivables can follow increased demand, but they can also reflect slower collection. The distinction matters for financing. Comparing payment behaviour across similar customer groups helps reveal whether growth is creating a predictable funding requirement or concealing a weakening process that additional borrowing would only postpone rather than solve in a durable way for the business.
Consider the commercial bargain
Customers may value longer payment terms, and a business can choose to offer them. That choice should be reflected in pricing, credit assessment and the funding plan. Treating payment timing as part of the product makes the economics clearer than presenting it as a courtesy whose cost is absorbed quietly by the finance team after the sale.
Build a complete growth case
An attractive expansion plan explains how working resources increase alongside revenue and when they return as cash. That gives capital providers a more realistic account of the opportunity. The strongest business case shows both the margin earned and the cash required to sustain the cycle, allowing growth to be funded deliberately rather than through recurring emergency transfers.
