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

Narayana Hrudayalaya Ltd / Forensic Accounting

<p><a href="https://www.smartkarma.com/entities/narayana-hrudayalaya-ltd" target="_blank" data-smartkarma-citation="entities:26939:1" rel="noopener">Narayana Hrudayalaya Ltd (NARH IN)</a> or NHL is a player in healthcare service sector. As at F21, the company operated as many as 46 healthcare facilities having a total of 6,725 bed capacity. It also has one operational hospital in the Cayman Islands.</p>
<p>NHL may be a big player in hospital chains, but the review of annual report provides us with several concerns on the balance sheet side such as poor investment quality, doubtful receivables, etc. Also, NHL in the past has shown very poor execution record which might depict concerns at a strategic level.</p>

Narayana Hrudayalaya Ltd (NARH IN) or NHL is a player in healthcare service sector. As at F21, the company operated as many as 46 healthcare facilities having a total of 6,725 bed capacity. It also has one operational hospital in the Cayman Islands.
NHL may be a big player in hospital chains, but the review of annual report provides us with several concerns on the balance sheet side such as poor investment quality, doubtful receivables, etc. Also, NHL in the past has shown very poor execution record which might depict concerns at a strategic level.

Forensic Analysis- Narayana Hrudayalaya Ltd