Indian Accounting Research Analyst, Trudence Capital Advisors

Nitin Mangal

Nitin is founder of Trudence Capital 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 news papers such as Wall Street Journal, Financial Times, Business Standard etc.

Indian Accounting Research Analyst

Smartkarma Webinar | Bearish IndiaMart (INMART IN): Against Consensus

Indiamart Intermesh Ltd: Q4-F2022 Result Update

Indiamart Intermesh Ltd- Forensic Analysis

IndiaMart InterMesh Ltd: Audible Phantom Notes

IndiaMART Pre-IPO - Getting and Retaining Subscribers Seems to Be Difficult

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

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<li>
<a href="https://www.smartkarma.com/entities/indiamart-intermesh-limited" target="_blank" data-smartkarma-citation="entities:27733:1" rel="noopener">IndiaMart (INMART IN)</a>'s volume growth is expected to under-power in 2022 due to both internal and external factors. The company might struggle to acquire increasing growth in subscribers.</li>
<li>Cost savings are likely to perish in future. This would put margins under pressure.</li>
<li>As a proxy for SMEs and MSMEs, lack of business confidence and hazy pent-up demand can turn into major headwinds.</li>
</ul>



IndiaMart (INMART IN)'s volume growth is expected to under-power in 2022 due to both internal and external factors. The company might struggle to acquire increasing growth in subscribers.
Cost savings are likely to perish in future. This would put margins under pressure.
As a proxy for SMEs and MSMEs, lack of business confidence and hazy pent-up demand can turn into major headwinds.


2022 High Conviction- IndiaMart (INMART IN)- Bet Against Growth Propellants