While analyzing a stock, financials of which one is to be considered- Standalone or Consolidated.
Standalone analysis means focusing on parent company, excluding subsidiaries. It would be better to study the consolidated reports and when you’re investing in a company, you’re also investing in its subsidiaries.
Anyways, this is just a thumb rule. Be flexible and consider reading both reports as many times standalone numbers reflect the financial situation of a company better. The consolidated report may reflect strong financials, however, the situation may be not as good on the individual level.