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

FRETAIL IN | Store Visits Indicate Large Format SSSG to Be Maintained

India Payments | What Really Matters and Suggested Channel Checks

Visit Note | The Case For "Kirana" Stores & Their Fight with Modern Retail

Digital Payment in India: What’s Working and What’s Not

India Digital Payments: Accelerating Despite Currency at Pre-Demonetization Levels

Telecom Infrastructure in India: Keeping Pace with the Surge in Subscribers

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)

<p>The hyper-competitive Indian payments industry is changing. New regulations are increasing the cost operations, NPCI (National Payments Corporation of India) &amp; Reserve Bank of India (RBI) are breaking all barriers to entry enabling a level playing field that ensures no competitive moats exist. Although there are volumes, profitability remains a distant dream and likely to remain so making Indian payments a bad business to be invested in.</p>

The hyper-competitive Indian payments industry is changing. New regulations are increasing the cost operations, NPCI (National Payments Corporation of India) &amp; Reserve Bank of India (RBI) are breaking all barriers to entry enabling a level playing field that ensures no competitive moats exist. Although there are volumes, profitability remains a distant dream and likely to remain so making Indian payments a bad business to be invested in.

Changing Lanes | Why Regulation and NPCI Makes Payments a Low Moat Losing Business in India