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

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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<a href="https://www.smartkarma.com/entities/emerald-finance-ltd" target="_blank" data-smartkarma-citation="entities:44167:1" rel="noopener">Emerald Finance (EMERALD IN)</a> is a Chandigarh-based NBFC. Since receiving its NBFC license in 2015, Emerald has broadened its offerings to include personal loans, business loans, and Early Wage Access.</li>
<li>The Company focuses on retail and MSME lending and acts as a loan origination platform for over 40 financial institutions through its subsidiary, Eclat Net Advisors Private Limited.   </li>
<li>Onto the forensics, there are unsecured loans to RPs, representing 15% of the networth, large amounts of cheques-in-hand reflected under Other loans and advances and incorrect calculation of EPS</li>
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Emerald Finance (EMERALD IN) is a Chandigarh-based NBFC. Since receiving its NBFC license in 2015, Emerald has broadened its offerings to include personal loans, business loans, and Early Wage Access.
The Company focuses on retail and MSME lending and acts as a loan origination platform for over 40 financial institutions through its subsidiary, Eclat Net Advisors Private Limited.   
Onto the forensics, there are unsecured loans to RPs, representing 15% of the networth, large amounts of cheques-in-hand reflected under Other loans and advances and incorrect calculation of EPS


Emerald Finance

Emerald Finance Ltd- Forensic Analysis