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

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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.

Thematic (Sector/Industry)

India Consumer discretionary / Thematic (Sector/Industry)

<p>We visit <a href="https://en.wikipedia.org/wiki/Jodhpur" target="_blank">Jodhpur</a>, <a href="https://en.wikipedia.org/wiki/Phalodi" target="_blank">Phalodi </a>and <a href="https://en.wikipedia.org/wiki/Jaipur" target="_blank">Jaipur</a> in the state of <a href="https://en.wikipedia.org/wiki/Rajasthan" target="_blank">Rajasthan </a>in an attempt to understand current consumer sentiment and reasons for the slow down in consumption. While the takeaways are state specific, the issues highlighted would be applicable to understand the consumer sentiment across the country, impacting the broader Indian Consumption Story.  We argue that the pain is shifting from rural to the urban consumer.  Our limited regional checks are suggesting cracks being developed and might break the consumer story if the business environment and consumer sentiment does not substantially change over the next six to nine months. </p>

We visit Jodhpur, Phalodi and Jaipur in the state of Rajasthan in an attempt to understand current consumer sentiment and reasons for the slow down in consumption. While the takeaways are state specific, the issues highlighted would be applicable to understand the consumer sentiment across the country, impacting the broader Indian Consumption Story.  We argue that the pain is shifting from rural to the urban consumer.  Our limited regional checks are suggesting cracks being developed and might break the consumer story if the business environment and consumer sentiment does not substantially change over the next six to nine months. 

The Fragile Urban Consumer | Rajasthan Checks Indicate an Emerging Urban Consumption Problem