Market & Forensics Analyst, Beat the Street

Nimish Maheshwari

Market & Forensics Analyst

Beat the Street

Beat The Street was founded by Nimish Maheshwari and Sudarshan Bhandari, both of whom are Chartered Accountants by Profession, known for their expert analysis in the fields of Business, Sectoral analysis, and Corporate governance.

With a strong social media presence of 45,000+ Subscribers across various platforms, they are considered trusted voices in the industry. Their insights and analysis have been featured in some of India’s most prominent publications, including the Economic Times, Dalal Street Investment Journal, The Morning Context, and The Ken.

Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

Read Business Not Stock Prices

Forensic Accounting

<ul>
<li>Independent Director Anil Kumar Chaudhary resigned in September 2025 citing serious governance issues including suppression of dissent, withholding of information, arbitrary financial decisions, and board process irregularities.</li>
<li>These recent events suggest that previous governance controversies are not fully resolved, raising issues around board transparency, independent oversight, and risk to stakeholder trust.</li>
<li>While KRBL's operational performance remains strong, this development raises serious red flags about the company's governance culture.</li>
</ul>


Independent Director Anil Kumar Chaudhary resigned in September 2025 citing serious governance issues including suppression of dissent, withholding of information, arbitrary financial decisions, and board process irregularities.
These recent events suggest that previous governance controversies are not fully resolved, raising issues around board transparency, independent oversight, and risk to stakeholder trust.
While KRBL's operational performance remains strong, this development raises serious red flags about the company's governance culture.


Forensic Analyst, Trudence Capital Advisors

Nitin Mangal

Forensic Analyst

Trudence Capital Advisors

Trudence Capital Advisors Private Limited is a SEBI-registered Research Analyst, holding SEBI registration number INH000015747. Our firm is dedicated to providing independent and unbiased research on Indian mid to large-cap companies. Trudence Capital is known for its counter-consensus views, with a focus on forensic research and on-ground primary investigations. Our research approach is thorough, involving detailed analysis of accounting practices and governance, alongside extensive channel checks.

Independent & Unbiased Research

<ul>
<li>Shares of <a href="https://www.smartkarma.com/entities/krbl-ltd" target="_blank" data-smartkarma-citation="entities:5178:1" rel="noopener">KRBL Ltd (KRB IN)</a> dropped as much as 12% intraday on September 15th, owing to resignation of Independent Director, Mr. Anil Kumar Chaudhary.</li>
<li>His letter highlights suppression of dissent, lack of transparency in decision-making, questionable receivable write-offs, and CSR mismanagement among several governance concerns currently at the company.</li>
<li>When triangulated with auditor qualifications, committee overlaps, CSR lapses, frequent Board/CS exits, and major write off, a pattern of weak checks and board oversight emerges.</li>
</ul>


Shares of KRBL Ltd (KRB IN) dropped as much as 12% intraday on September 15th, owing to resignation of Independent Director, Mr. Anil Kumar Chaudhary.
His letter highlights suppression of dissent, lack of transparency in decision-making, questionable receivable write-offs, and CSR mismanagement among several governance concerns currently at the company.
When triangulated with auditor qualifications, committee overlaps, CSR lapses, frequent Board/CS exits, and major write off, a pattern of weak checks and board oversight emerges.


Thematic (Sector/Industry)

<ul>
<li>India has lifted major rice export restrictions, ending duties and price caps, triggering a sharp global price correction in rice markets.</li>
<li>Global rice prices have dropped 40% since January 2024, providing relief to importing countries and reopening volumes for Indian exporters like  <a href="https://www.smartkarma.com/entities/chaman-lal-setia-exports" target="_blank" data-smartkarma-citation="entities:19024:1" rel="noopener">Chaman Lal Setia Exports (CMLTX IN)</a>.</li>
<li>Expect stronger earnings momentum for Indian rice exporters in FY26 as volumes rebound, margins expand, and India reasserts global dominance.</li>
</ul>


India has lifted major rice export restrictions, ending duties and price caps, triggering a sharp global price correction in rice markets.
Global rice prices have dropped 40% since January 2024, providing relief to importing countries and reopening volumes for Indian exporters like  Chaman Lal Setia Exports (CMLTX IN).
Expect stronger earnings momentum for Indian rice exporters in FY26 as volumes rebound, margins expand, and India reasserts global dominance.


India’s Rice Policy Reversal: Opportunity for Exporters

India Equity Analyst - Fundamental & Thematic, Beat the Street

Sudarshan Bhandari

India Equity Analyst - Fundamental & Thematic

<ul>
<li>Gautam Adani to Launch Shipbuilding at Mundra Port Amid Global Demand Surge</li>
<li>Hyundai Faces Pressure from Tata and Mahindra Ahead of $3.5 Billion India IPO</li>
<li>Xiaomi plans to double shipments in India, targeting 700 million devices within a decade</li>
</ul>


Gautam Adani to Launch Shipbuilding at Mundra Port Amid Global Demand Surge
Hyundai Faces Pressure from Tata and Mahindra Ahead of $3.5 Billion India IPO
Xiaomi plans to double shipments in India, targeting 700 million devices within a decade


#27 India Insight: Adani to Launch Shipbuilding, Xiaomi Plans to Double Shipment, Hyundai IPO

Equity Bottom-Up

<ul>
<li>India's rice export ban triggers global market chaos, leading to panic buying and uncertainty in rice supply, affecting both India and Thailand.</li>
<li>El Niño's drought threatens Thailand's rice production, adding to the crisis. Other Asian nations impose export bans, raising inflation concerns.</li>
<li>Global rice prices rise, impacting vulnerable nations and sparking fears of a repeat of the 2008 rice crisis due to protectionist policies.</li>
</ul>


India's rice export ban triggers global market chaos, leading to panic buying and uncertainty in rice supply, affecting both India and Thailand.
El Niño's drought threatens Thailand's rice production, adding to the crisis. Other Asian nations impose export bans, raising inflation concerns.
Global rice prices rise, impacting vulnerable nations and sparking fears of a repeat of the 2008 rice crisis due to protectionist policies.


Global Rice Market Disrupted: India's Export Ban Sparks Chaos and Worries

India

KRBL Ltd is a food processing company. The Company produces, packs and exports a variety of rice brands.

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KRBL Ltd (KRB IN)

Unpacking KRBL's Corporate Challenges

Resignation of Independent Director at KRBL highlights ongoing governance issues, raising concerns about transparency and stakeholder trust...

Nimish Maheshwari

KRBL Ltd- Not Just Another Resignation

KRBL shares plummet after an ID resigns, citing governance concerns including suppression of dissent and lack of transparency. These can be tied...

Nitin Mangal

India’s Rice Policy Reversal: Opportunity for Exporters

India's removal of rice export restrictions leads to global price drop, benefiting importers and boosting earnings for Indian exporters like...

Nimish Maheshwari

#27 India Insight: Adani to Launch Shipbuilding, Xiaomi Plans to Double Shipment, Hyundai IPO

Adani expands into shipbuilding, Hyundai faces competition in India IPO, Xiaomi aims to double device shipments in India.

Sudarshan Bhandari

Global Rice Market Disrupted: India's Export Ban Sparks Chaos and Worries

India's rice export ban causes market chaos, affecting supply and leading to panic buying; El Niño's drought worsens crisis; rising global rice...

Nimish Maheshwari

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Unpacking KRBL's Corporate Challenges

​Resignation of Independent Director at KRBL highlights ongoing governance issues, raising concerns about transparency and stakeholder trust...

Nimish Maheshwari

KRBL Ltd- Not Just Another Resignation

​KRBL shares plummet after an ID resigns, citing governance concerns including suppression of dissent and lack of transparency. These can be tied...

Nitin Mangal

India’s Rice Policy Reversal: Opportunity for Exporters

​India's removal of rice export restrictions leads to global price drop, benefiting importers and boosting earnings for Indian exporters like...

Nimish Maheshwari

#27 India Insight: Adani to Launch Shipbuilding, Xiaomi Plans to Double Shipment, Hyundai IPO

​Adani expands into shipbuilding, Hyundai faces competition in India IPO, Xiaomi aims to double device shipments in India.

Sudarshan Bhandari

Global Rice Market Disrupted: India's Export Ban Sparks Chaos and Worries

​India's rice export ban causes market chaos, affecting supply and leading to panic buying; El Niño's drought worsens crisis; rising global rice...

Nimish Maheshwari

Resignation of Independent Director at KRBL highlights ongoing governance issues, raising concerns about transparency and stakeholder trust...

KRBL shares plummet after an ID resigns, citing governance concerns including suppression of dissent and lack of transparency. These can be tied...

India's removal of rice export restrictions leads to global price drop, benefiting importers and boosting earnings for Indian exporters like...

Adani expands into shipbuilding, Hyundai faces competition in India IPO, Xiaomi aims to double device shipments in India.

India's rice export ban causes market chaos, affecting supply and leading to panic buying; El Niño's drought worsens crisis; rising global rice...