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

2020 Review & 2021 Key Themes | What Worked and What Has Not

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>The objective of this Insight is to reflect back on our work published on Smartkarma. To highlight what has worked for us and more importantly what has not worked and our plans to improve the same. </p>
<p>Going forward our Macro Insights in 2020 will focus on "The Road to USD 5 Trillion Economy". MSME and SME are the heart of Indian Economy, and their ability to grow and innovate will remain the key to achieve this goal and hence the importance to track them.</p>
<p>For Sectoral research, our focus for 2020 will be on Retail, Payments &amp; Auto. As India moves from unorganised to organised trade, Indian Retail is likely to throw up huge opportunities both for incumbents as well as e-retailers. Payments will continue to remain attractive as India goes cashless &amp; the BS-VI related confusions and overall macro demand environment will continue to make Autos an interesting space for 2020.</p>
<p>We intend to make no change in our consumer coverage in 2020, possibly introducing some consumption names along with staples. There are high chances of underperformance in Consumer Staples as we do not expect major volume recovery at least until H2 CY2020.</p>
<p>Lastly, we expect our regional coverage to expand in 2020. We will stick to our core sectors i.e. Consumer Staples, Consumer Discretionary and Auto along with Payments and possibly explore more collaborative and on-ground research with the primary objective of helping a PM with allocation across the region.</p>
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The objective of this Insight is to reflect back on our work published on Smartkarma. To highlight what has worked for us and more importantly what has not worked and our plans to improve the same. 
Going forward our Macro Insights in 2020 will focus on "The Road to USD 5 Trillion Economy". MSME and SME are the heart of Indian Economy, and their ability to grow and innovate will remain the key to achieve this goal and hence the importance to track them.
For Sectoral research, our focus for 2020 will be on Retail, Payments &amp; Auto. As India moves from unorganised to organised trade, Indian Retail is likely to throw up huge opportunities both for incumbents as well as e-retailers. Payments will continue to remain attractive as India goes cashless &amp; the BS-VI related confusions and overall macro demand environment will continue to make Autos an interesting space for 2020.
We intend to make no change in our consumer coverage in 2020, possibly introducing some consumption names along with staples. There are high chances of underperformance in Consumer Staples as we do not expect major volume recovery at least until H2 CY2020.
Lastly, we expect our regional coverage to expand in 2020. We will stick to our core sectors i.e. Consumer Staples, Consumer Discretionary and Auto along with Payments and possibly explore more collaborative and on-ground research with the primary objective of helping a PM with allocation across the region.




2019 Review & 2020 Key Themes | What Has Worked, What Has Not