Forensic Analyst, Trudence Capital Advisors

Nitin Mangal

Nitin Mangal is a Research Analyst 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 product for Institutional Investors named as "Analysis Beyond Consensus" during his association with Edelweiss Securities Ltd, Mumbai. Later during the career, he has worked with Veritas Investment Research Corporation, Canada as Asia Consultant covering Indian and US equities. He has been profiled by leading financial newspapers such as Wall Street Journal, Business Standard etc

Forensic Analyst

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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

Forensic Accounting

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<li>
<a href="https://www.smartkarma.com/entities/aegis-logistics-ltd" target="_blank" data-smartkarma-citation="entities:2478:1" rel="noopener">Aegis Logistics (AGIS IN)</a>  or ALL is an integrated logistics and supply chains provider to the oil, gas, petroleum and chemical players. </li>
<li>The company is currently on a capex spree, after joining hands with Royal Vopak to augment its terminals business.</li>
<li>While the business possesses good cash conversion, one should be bothered by some doubtful accounting with respect to capitalization policy, receivable provisioning, etc which might have beneficial impact on bottom-line.</li>
</ul>



Aegis Logistics (AGIS IN)  or ALL is an integrated logistics and supply chains provider to the oil, gas, petroleum and chemical players. 
The company is currently on a capex spree, after joining hands with Royal Vopak to augment its terminals business.
While the business possesses good cash conversion, one should be bothered by some doubtful accounting with respect to capitalization policy, receivable provisioning, etc which might have beneficial impact on bottom-line.


Aegis Logistics

Aegis Logistics Ltd- Forensic Analysis