Consumer Analyst / Channel Surveillance Specialist, Trudence Capital Advisors

Pranav Bhavsar

Pranav Bhavsar & the team at India Independent Insight (Iii), provide research on consumer companies operating or have exposure to in India. The research methodology focuses on carrying out on-the-ground channel surveillance/checks that include supplier/distributor/customer interactions, access to industry experts, and bespoke primary data sources that aid in providing unique insights and counter consensus ideas.  

Leveraging the team's forensic analysis along with channel surveillance, the team at Iii also aids investors in early identification of changing consumer trends, identification and quantification of accounting/governance risks, and the associated impact on the business model of the company.

Pranav has over 15 years of experience in the Indian equity market, and has worked with some of the global activists, long only and PE funds for their India projects. Prior roles also include building and leading an institutional sell-side desk. In his free time, Pranav is a traveler, biker, and a young Indian contributing to the country’s social and economic development.

Consumer Analyst / Channel Surveillance Specialist

ASA Capital Management

ASA Capital Management is a boutique Research and Investment Advisory firm focusing on primary research in India. ASA provides bespoke research services to Institutional Clients with a focus on due diligence backed with primary research, Field Trips & Channel Checks.

Equity Bottom-Up

<a href="https://www.smartkarma.com/entities/aarti-industries-limited" target="_blank" data-smartkarma-citation="entities:6583:1" rel="noopener">Aarti Industries (ARTO IN)</a>, a global leader in benzene based intermediates recently saw a set back in terms of cancellation of one of its key long term contracts.
In this insight, we explore the reasons behind the cancellation of the same, its financial implications on the firm and argue that the even after the cancellation, the long term catalysts continue to be in place.
We believe that <a href="https://www.smartkarma.com/entities/aarti-industries-limited" target="_blank" data-smartkarma-citation="entities:6583:1" rel="noopener">Aarti Industries (ARTO IN)</a> is still well placed to capture the structural tailwind as supply chains move from China to alternate locations like India. At the current price of INR 1067, Aarti trades at 25x FY22 EPS Estimates, which is higher than the 2-year average. Aarti is neither too cheap nor too expensive. However, considering the recent run-up in broader indices a more attractive entry point would be more rewarding.

Aarti Industries (ARTO IN), a global leader in benzene based intermediates recently saw a set back in terms of cancellation of one of its key long term contracts.
In this insight, we explore the reasons behind the cancellation of the same, its financial implications on the firm and argue that the even after the cancellation, the long term catalysts continue to be in place.
We believe that Aarti Industries (ARTO IN) is still well placed to capture the structural tailwind as supply chains move from China to alternate locations like India. At the current price of INR 1067, Aarti trades at 25x FY22 EPS Estimates, which is higher than the 2-year average. Aarti is neither too cheap nor too expensive. However, considering the recent run-up in broader indices a more attractive entry point would be more rewarding. 

Aarti Industries | Well Placed to Capture the Structural Tailwind