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

India Internet & Consumer Weekly | PayTM, Apple, Flipkart

Changing Lanes | Why Regulation and NPCI Makes Payments a Low Moat Losing Business in India

India Payments | What Really Matters and Suggested Channel Checks

India Payments | Paytm - A First Time Investor's Guide

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.

Private Capital Markets

<p>There is no doubt on UPI's dominance in India's Mobile Payment Ecosystem, however, the revenue potential from UPI transaction remains virtually nil. Wallet companies like Paytm are exploring multiple options to find revenue streams but are yet to find one that offers enough scale and value, that can cater to the growing market in Bharat (Tier 2/Non-Metro Locations).</p>
<p>With the launch of Paytm's All-in-One POS, the step by Paytm is in the right direction which is capitalizing on its large merchant base, but government initiatives like Zero MDR make the business more challenging. </p>
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<p><em>This Insight is labelled bullish due to the strong Industry tailwinds that are currently present in the Indian Payments space. </em></p>
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There is no doubt on UPI's dominance in India's Mobile Payment Ecosystem, however, the revenue potential from UPI transaction remains virtually nil. Wallet companies like Paytm are exploring multiple options to find revenue streams but are yet to find one that offers enough scale and value, that can cater to the growing market in Bharat (Tier 2/Non-Metro Locations).
With the launch of Paytm's All-in-One POS, the step by Paytm is in the right direction which is capitalizing on its large merchant base, but government initiatives like Zero MDR make the business more challenging. 



This Insight is labelled bullish due to the strong Industry tailwinds that are currently present in the Indian Payments space. 




Paytm | Aiming for the Moon | Dominance to Further Strengthen with All-In-One POS