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

Berger Vs Pidilite - A Long/Short Opportunity

Nippon Paint (4612): From Japan to Asia to Indonesia

Berger Paints (BRGR IN) / Pidilite Industries (PIDI IN) | Fundamental Factors Back the Signal

Asian Paints | Why This Pricey Indian Paint Company Offers a Better Return Potential in the Region

Kansai Paint: India Drives Growth But Kansai Nerolac's 50x PE Is Also a Risk

Nippon Paint (4612) Vs Geely Auto (175): A Relative Value on Chinese Auto Sector

China Auto: End Demand Remains Weak, Local Brands Start Outperforming

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

<p>We present our takeaways from attending Kansai Nerolac's virtual AGM. Weak revenue growth, lower margins and lower return ratios are here to stay for KNPL. We expect multiple headwinds for companies in this sector, that will definitely offset the gains from lower raw material prices which KNPL had decided to pass on to its consumers. All in all, we believe that <a href="https://www.smartkarma.com/entities/kansai-paint-co-ltd" target="_blank" data-smartkarma-citation="entities:13340:1" rel="noopener">Kansai Paint (4613 JP)</a> shareholders must prepare themselves for a muted FY21 from their Indian Subsidiary <a href="https://www.smartkarma.com/entities/kansai-nerolac-paints-ltd" target="_blank" data-smartkarma-citation="entities:10169:1" rel="noopener">Kansai Nerolac Paints (KNPL IN)</a> .</p>

We present our takeaways from attending Kansai Nerolac's virtual AGM. Weak revenue growth, lower margins and lower return ratios are here to stay for KNPL. We expect multiple headwinds for companies in this sector, that will definitely offset the gains from lower raw material prices which KNPL had decided to pass on to its consumers. All in all, we believe that Kansai Paint (4613 JP) shareholders must prepare themselves for a muted FY21 from their Indian Subsidiary Kansai Nerolac Paints (KNPL IN) .

AGM Diaries | Kansai Nerolac - Be Prepared for a Muted FY21