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

Zomato's Investments Game: Stain on Governance

Zomato Blinkit Deal: Stains Get More Murky

Zomato (ZOM IN) | Merchant Surveys - Operating Metrics and a Hidden Predator

Zomato (ZOM IN) | How to Avoid a Deliveroo

India Channel Insight | Zomato, AU Bank, Johnson Hitachi, Nilkamal, Makemytrip

Gravity Works As WeWork Doesn't; Now Plan B

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 Bottom-Up

<p><a href="https://www.smartkarma.com/entities/zomato-media-pvt" target="_blank" data-smartkarma-citation="entities:28820:1" rel="noopener">Zomato (ZOMATO IN)</a> released its first earnings report after being listed yesterday. The full release can be found <a href="https://www.bseindia.com/xml-data/corpfiling/AttachLive/47aa2394-0e3a-415d-ac77-ce10d2b7f1de.pdf" target="_blank" rel="noopener">here</a></p>
<p>This insight presents our key takeaways from the earnings release and also presents an argument for better disclosures. Our previous coverage on <a href="https://www.smartkarma.com/entities/zomato-media-pvt" target="_blank" data-smartkarma-citation="entities:28820:1" rel="noopener">Zomato (ZOMATO IN)</a> can be found in the insight stream. </p>

Zomato (ZOMATO IN) released its first earnings report after being listed yesterday. The full release can be found here
This insight presents our key takeaways from the earnings release and also presents an argument for better disclosures. Our previous coverage on Zomato (ZOMATO IN) can be found in the insight stream. 

Zomato (Zomato IN) | Premium Valuations but Not so Premium Disclosures