Hi @yourraj,
Thanks for the kind words 
. We all have our own way of looking at business and I find the way to look through numbers better suited for my strengths. The above excel has undergone lot of change in last 1-2 years and I have built a parent version of above excel where 5 such excels (consider them as 5 different companies in same sector) merge into 1 parent excel where I try to analyze various competitive companies in one go for better insights on company, competition and sector.
It is available for public use and you can find it here
Regarding my method of analysis, this is how I proceed:
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1st Level : This has some hygiene filter criteria in terms of leverage, return on capital, promoter’s skin in game, promoter integrity, historic growth etc. where I filter out 90% of unwanted companies. Intent being it is difficult for one person to study 5000 companies and quality companies also follow Pareto rule
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2nd Level : Go through company excel sheet framework to get a sense of overall business, strengths, concerns, connect financial numbers to get sense of operating model of companies and hence key questions
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3rd Level : Pick 4 close competitors and go through competitive analysis excel sheet to get a sense of competition and sector and more of step 3 but at a multi-company and sector level
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If all above hurdles are crossed , then, spend detailed time in going through AR, concall transcripts etc.
The above is regarding method of selection. Coming to capital allocation, frankly, as of now, I do not have a sound process and I am still learning but usually, it is a mix of following:
a. Growing conviction in business with time
b. Valuation attractiveness
c. Longevity of opportunity size
The above is usual process for standard long term investments. However, slowly I am learning other ways to invest like playing with cyclic, mispriced valuations,some major ground level information about management change where future may be different from history, identifying turnaround stories, buying sectors in distress where no one is interested and I do take positions in such scenarios also but the longevity of holding may differ on a case to case basis
Hope this helps.