Indian Accounting Research Analyst, Trudence Capital Advisors

Nitin Mangal

Indian Accounting Research 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

Equity Capital Markets

Waaree Energies Limited / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/waaree-energies-limited" target="_blank" data-smartkarma-citation="entities:35367:1" rel="noopener">Waaree Energies Limited (0656504D IN)</a> (WEL) has filed its DRHP. The company is the largest player in the Solar PV Modules manufacturing space in the country.  </li>
<li>The company has seen a sharp growth in sales in F23, backed by China plus one phenomemon. </li>
<li>However, the financials do have a few talking points, such as high RPT, large inventory in transit, faster depreciating newer assets, etc.</li>
</ul>



Waaree Energies Limited (0656504D IN) (WEL) has filed its DRHP. The company is the largest player in the Solar PV Modules manufacturing space in the country.  
The company has seen a sharp growth in sales in F23, backed by China plus one phenomemon. 
However, the financials do have a few talking points, such as high RPT, large inventory in transit, faster depreciating newer assets, etc.


India

Websol Energy System Limited manufactures solar photovoltaic cells and modules that transform sunlight into electricity.  The products are used for home and commercial installations.

Websol Energy System (WESL IN)

Waaree Energies IPO- Forensic Analysis

Waaree Energies files DRHP as largest player in Indian Solar PV Modules manufacturing, showing growth in sales but with financial concerns like...

Nitin Mangal

Waaree Energies IPO- Forensic Analysis

​Waaree Energies files DRHP as largest player in Indian Solar PV Modules manufacturing, showing growth in sales but with financial concerns like...

Nitin Mangal

Waaree Energies files DRHP as largest player in Indian Solar PV Modules manufacturing, showing growth in sales but with financial concerns like...