In-depth & Independent Fundamental Research from Primary Sources for Listed Indian Companies
Core Focus
- Business & Industry Opportunity
- Forensics & Corporate Governance
- Dissecting Headwinds or Tailwinds for the businesses
- Focus on Businesses and not on Buy/Sell recommendations
Our Core Focus
Business & Industry Opportunity
Our best-in-class WordPress solution with additional viral
Focus on Businesses and not on Buy/Sell recommendations
Our best-in-class WordPress solution with additional viral
Forensics & Corporate Governance
Our best-in-class WordPress solution with additional viral
Focus on Businesses and not on Buy/Sell recommendations
Our best-in-class WordPress solution with additional viral
Dissecting Headwinds or Tailwinds
Our best-in-class WordPress solution with additional viral
Domain Name
Our best-in-class WordPress solution with additional viral
FAQ
I’m Nitin Mangal, the founder/ Director of Trudence Capital Advisors Private Limited and I love reading annual reports. It is not only my work but my passion to constantly read annual reports and conference calls about various businesses in the Indian Listed Equity Space.
Well I have heard that statement so often, that I feel its important to answer it here.
It’s true that majority of our available work in public partly because of previous work experience and partly because of our commitments to clients at India Independent Insights ( III ) have been focused on accounting , forensics and governance.
But when we read the primary sources for our research, we are looking at the business from the lens of a risk manager and also from the lens of an investor. Hence, we are as much interested in the business potential of the companies as we are vigilant on the accounting & governance lapses that can be lead to (mostly unseen by others) significant losses in investments.
Annotated Annual Reports and Conference Calls along with our Notes & Comments : This will be the core deliverable. You will get a Note which will be summarizing the Annual Report / Concall and also referencing the relevant sections from the ARs/CCs. Along side that Note, will be the Annotated Annual Reports.
Notes will also have our view on what makes this company interesting ( or dangerous !!! ) from a portfolio perspective.
We will be doing at least 30 companies ( possibly a lot more ) annually.
On a weekly or a bi-weekly basis, I will be sharing the important announcements that are happening on the exchanges.
What you will not get is also important to understand:
No complicated models. It’s a pure research service and the attempt is to not unnecessarily fill models. The necessary data required to make sense of what we are reading will be covered in the note.
No Buy / Sell recommendation and no price target. While certain reasons of why a particular company warrants a look (or should be avoided ) will be provided.
- Serious Investors who are fundamentally oriented & want to their own research
- Risk Managers who want to avoid getting trapped into companies with doubtful accounting and governance
- Fund Managers / Investment Advisors who want dramatically save time on research.
- Aspiring full time investors looking to expand their bandwidth and want to learn the nuances of research
- Don’t waste your money if you or your team have no time to read the notes. There wouldn’t be any short cuts or summaries to rely upon.
- If you are looking for model portfolios to replicate and directly put your money to work. As mentioned, there are no buy/sell recommendation and there are no target prices.
- If your focus is on large companies because of your mandates or your area of work. There wouldn’t be many large cap companies covered here.
In one word, NO. There are many good model portfolios which you can use.
The purpose of this service is to share our research with the subscribers.
The purpose of this service is for sophisticated investors to drastically cut down on research time
But the eventual portfolio formation is left to the clients because all investors have their own investment philosophy, investment style, risk appetite etc.
Most of what you will see will be directly undertaken by me.
I do take help of my team & also of people in my friend circle who know a particular sector or a company better than I do. I also bounce of my comments with experts in certain cases but nothing comes to you without being completely vetted by me.
As a part of this service, there is no be-spoke research ( We do that separately under India Independent Insight ). For this service, all the companies are of our choice. But keeping in mind the feedback of many prospective subscribers, the focus of this service will be small and midcap companies and not very large cap names.
Free Trials are not permissible by regulations & hence cant be given to you. I am happy to answer any questions regarding the service. You can reach me at [email protected]. A sample AR & Note is available here for you to see so that you are aware of what you are getting into.
Rs.95,000+ GST
For the initial launch period, there is an early bird discount of Rs.45,000 (approx 47%): If you enroll before 31st March, 2024, you just pay Rs.50,000 (+GST).
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River named Duden flows by their place and supplies it with the necessary A small river named Duden flows by their place and supplies it with the necessary regelialia. It is a paradisematic country, in which
Know Your analyst
Nitin Mangal
- Nitin is a chartered accountant with more than 15 years of experience in Indian equities.
- He is Pioneer of Corporate Governance and Accounting Research in Indian Market and has successfully developed accounting research product for Institutional Investors named during his association with leading Indian Broking house.
- Later during the career, he has worked with one of North American research house who predominantly do research on corporate governance and forensics as Asia Consultant covering Indian and US equities. He has been profiled by leading financial news papers such as Wall Street Journal, Financial Times, Business Standard etc.
- He has been a regular speaker at CFA Society India and many investment conferences. He has been profiled by CNBC on Governance issue in Vakrangee Limited.
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