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

Waaree Energies IPO Update- Forensic Analysis

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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

Equity Capital Markets

Waaree Renewable Technologies / Equity Capital Markets

Waaree Renewable Technologies (WAREERTL IN)

<ul>
<li>
<a href="https://www.smartkarma.com/entities/waaree-energies-limited" target="_blank" data-smartkarma-citation="entities:35367:1" rel="noopener">Waaree Energies Limited (0656504D IN)</a> (WEL) has filed its DRHP. The company is the largest player in the Solar PV Modules manufacturing space in the country.  </li>
<li>The company has seen a sharp growth in sales in F23, backed by China plus one phenomemon. </li>
<li>However, the financials do have a few talking points, such as high RPT, large inventory in transit, faster depreciating newer assets, etc.</li>
</ul>



Waaree Energies Limited (0656504D IN) (WEL) has filed its DRHP. The company is the largest player in the Solar PV Modules manufacturing space in the country.  
The company has seen a sharp growth in sales in F23, backed by China plus one phenomemon. 
However, the financials do have a few talking points, such as high RPT, large inventory in transit, faster depreciating newer assets, etc.


LONGi Green Energy Technology (601012 CH)

Waaree Renewable Technologies

Waaree Energies IPO- Forensic Analysis