Indian Accounting Research Analyst, Trudence Capital Advisors

Nitin Mangal

Indian Accounting Research 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

Equity Bottom-Up

<p><a href="https://www.smartkarma.com/entities/united-spirits-ltd" target="_blank" data-smartkarma-citation="entities:5146:1" rel="noopener">United Spirits (UNSP IN)</a> was undergoing process of balance sheet cleansing and cleaning since last 3-4 years as we discussed in few of our previous insights <a href="https://www.smartkarma.com/insights/usl-dream-run-has-just-begun" target="_blank" data-smartkarma-citation="insights:36137" rel="noopener">USL: Dream Run Has Just Begun</a> and post that the company was focused on reduction of debts, effective working capital management, product portfolio realignment etc. </p><p>Ms. Hina Nagarajan has taken over the position of chief executive officer (CEO) from April 1, 2021. During this quarter the strategies implemented by her has started showing fruits and first time she has presented the detailed strategy "Strategy Refresh" a future way for the company.  </p>

United Spirits (UNSP IN) was undergoing process of balance sheet cleansing and cleaning since last 3-4 years as we discussed in few of our previous insights USL: Dream Run Has Just Begun and post that the company was focused on reduction of debts, effective working capital management, product portfolio realignment etc. Ms. Hina Nagarajan has taken over the position of chief executive officer (CEO) from April 1, 2021. During this quarter the strategies implemented by her has started showing fruits and first time she has presented the detailed strategy "Strategy Refresh" a future way for the company.  

External broker reports(aggregated public sources), Edelweiss Broking Limited

Edelweiss

External broker reports(aggregated public sources)

<p>United Spirits Limited is the largest spirits company in the branded spirits market in India.</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

United Spirits Limited is the largest spirits company in the branded spirits market in India.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Pick of the Week - United Spirits Limited

Smartkarma Research Team, Smartkarma

Smartkarma Research

Smartkarma Research Team

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

Forensic Accounting

<div>
<p>In our next Webinar, we welcome back Insight Providers <a href="https://www.smartkarma.com/profiles/pranav-bhavsar" target="_blank" data-smartkarma-citation="accounts:3191" rel="noopener">Pranav Bhavsar</a> and <a href="https://www.smartkarma.com/profiles/nitin-mangal" target="_blank" data-smartkarma-citation="accounts:1988" rel="noopener">Nitin Mangal</a> who will discuss their deep-dive analysis on <a href="https://www.smartkarma.com/entities/united-spirits-ltd" target="_blank" data-smartkarma-citation="entities:5146:1" rel="noopener">United Spirits (UNSP IN)</a> and share their views about what's in store for the company in 2021.</p>
<h3>The webinar was hosted on Wednesday, 17 March 2021, 17:00 SGT/HKT.<a href="https://share.hsforms.com/1H9pFZOB-RF2J00kbvMmxcw2c5gj?zoom_webinar_id=89854305786" target="_blank" rel="noopener"></a>
</h3>
<p>Watch the session here:</p>
<p><iframe src="https://www.youtube.com/embed/S3g5y50LGeI" width="560" height="315" title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="allowfullscreen"></iframe></p>
<p>Or subscribe to our podcast and listen on the go:</p>
<p><iframe src="https://open.spotify.com/embed/episode/5le0U3FJh85d0MfWTiaQOU" width="100%" height="232" frameborder="0" allowtransparency="true" allow="encrypted-media"></iframe></p>
</div>
<div>
<div>
<div>
<p>Pranav Bhavsar is the Founder of ASA Capital Management, focusing on research on consumer themes and companies operating in India or global companies that have significant exposure to India or the Indian economy.</p>
</div>
<div>
<p>Nitin Mangal is a SEBI registered Research Analyst with more than 10 years of experience in Indian equities. He is Pioneer of Corporate Governance and Accounting Research in Indian Market and has successfully developed a product for Institutional Investors named as "Analysis Beyond Consensus" during his association with Edelweiss Securities Ltd, Mumbai. </p>
</div>
</div>
</div>


In our next Webinar, we welcome back Insight Providers Pranav Bhavsar and Nitin Mangal who will discuss their deep-dive analysis on United Spirits (UNSP IN) and share their views about what's in store for the company in 2021.
The webinar was hosted on Wednesday, 17 March 2021, 17:00 SGT/HKT.

Watch the session here:

Or subscribe to our podcast and listen on the go:





Pranav Bhavsar is the Founder of ASA Capital Management, focusing on research on consumer themes and companies operating in India or global companies that have significant exposure to India or the Indian economy.


Nitin Mangal is a SEBI registered Research Analyst with more than 10 years of experience in Indian equities. He is Pioneer of Corporate Governance and Accounting Research in Indian Market and has successfully developed a product for Institutional Investors named as "Analysis Beyond Consensus" during his association with Edelweiss Securities Ltd, Mumbai. 




Smartkarma Webinar | United Spirits: What's the Best Way Forward?

Thematic (Sector/Industry)

<p>The year 2020 was a wild swing for the capital markets; it was off in a flash but still won't be forgotten by many. It was a year marked by unpredictability, right from Covid-19 to the crashing of indices. It was a challenge to many, but still the year has uncovered several new, differentiated potholes for many companies on corporate governance, accounting engineering. We have provided critical views on few of the companies on these two aspects. </p>
<p>Going forward we will continue to provide critical views on the companies especially in our core area of corporate governance and forensic research. Beginning 2021, we will be covering the same through our product 'AGE Analysis' (Accounting. Governance. Earnings). We also look to enhance our reach in macro coverage, along with event driven insights.</p>

The year 2020 was a wild swing for the capital markets; it was off in a flash but still won't be forgotten by many. It was a year marked by unpredictability, right from Covid-19 to the crashing of indices. It was a challenge to many, but still the year has uncovered several new, differentiated potholes for many companies on corporate governance, accounting engineering. We have provided critical views on few of the companies on these two aspects. 
Going forward we will continue to provide critical views on the companies especially in our core area of corporate governance and forensic research. Beginning 2021, we will be covering the same through our product 'AGE Analysis' (Accounting. Governance. Earnings). We also look to enhance our reach in macro coverage, along with event driven insights.

Consumer Analyst / Channel Surveillance Specialist, Trudence Capital Advisors

Pranav Bhavsar

Consumer Analyst / Channel Surveillance Specialist

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.

<div>
<div>
<div>
<p>This insight is inspired by Smartkarma's Insight provider <a href="https://www.smartkarma.com/profiles/ming-lu" target="_blank" data-smartkarma-citation="accounts:2496" rel="noopener">Ming Lu</a> and his weekly insights like <a href="https://www.smartkarma.com/insights/china-internet-weekly-17aug2020-top-broadcaster-said-taobao-lied-probe-and-rumor-on-iq" target="_blank" data-smartkarma-citation="insights:42190" rel="noopener">China Internet Weekly (17Aug2020): Top Broadcaster Said Taobao Lied, Probe and Rumor on IQ</a> </p>
<p>Our objective with this weekly is to highlight notable developments in the India internet and consumer sector focusing on public and private companies. The sub-sectors covered include payment providers, e-commerce retailers,  social media platforms and consumer companies. </p>
<p>This weekly insight aims to add value to readers, who are keen to follow developments in the Indian internet and consumer sector with a deliberate focus on global companies operating in India. </p>
</div>
</div>
</div>




This insight is inspired by Smartkarma's Insight provider Ming Lu and his weekly insights like China Internet Weekly (17Aug2020): Top Broadcaster Said Taobao Lied, Probe and Rumor on IQ 
Our objective with this weekly is to highlight notable developments in the India internet and consumer sector focusing on public and private companies. The sub-sectors covered include payment providers, e-commerce retailers,  social media platforms and consumer companies. 
This weekly insight aims to add value to readers, who are keen to follow developments in the Indian internet and consumer sector with a deliberate focus on global companies operating in India. 




India Internet & Consumer Weekly | Facebook, ByteDance, Samsung, Xiaomi & Amazon

India

United Spirits Ltd. manufactures and distributes alcoholic beverages. The Company provides a variety of alcohols and spirits, including whiskey, brandy, and rum. United Spirits also manufactures indian-made foreign liquor brands. United Spirits serves customers worldwide.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

United Spirits (UNSP IN)

United Spirits: Strategy Refresh

With strong brand franchisee, restoration of strong financial statement, alogwith new management team, the company has huge opportunity to grow.

Nitin Mangal

Pick of the Week - United Spirits Limited

United Spirits Limited is the largest spirits company in the branded spirits market in India.

Edelweiss

Smartkarma Webinar | United Spirits: What's the Best Way Forward?

Join us on 17 March, 5pm SGT, as Pranav Bhavsar and Nitin Mangal discuss their deep-dive analysis on United Spirits (UNSP IN) and share their views...

Smartkarma Research

Review for the Year 2020

We review our entire cloud of insights covered in 2020, and give a snapshot of how did they pay out in the market, including future prospects.

Nitin Mangal

India Internet & Consumer Weekly | Facebook, ByteDance, Samsung, Xiaomi & Amazon

This insight is inspired by Smartkarma's Insight provider Ming Lu and his weekly insights like China Internet Weekly (17Aug2020): Top...

Pranav Bhavsar

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)