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

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

Forensic Accounting

Craftsman Automation / Forensic Accounting

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<a href="https://www.smartkarma.com/entities/craftsman-automation-ltd" target="_blank" data-smartkarma-citation="entities:36415:1" rel="noopener">Craftsman Automation (CRAFTSMA IN)</a> is engaged in the business of manufacturing engineering components, sub-assemblies, products and rendering of contract manufacturing services to various industries</li>
<li>Key forensic takeaways include working capital troubles, alongside inflation woes deteriorating gross margins etc. There is grey area noticed in accounting treatment pertaining to JV as well.</li>
<li>Focus should also be on the aluminum segment, which is going through a tough phase regarding operating leverage and low margins.</li>
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Craftsman Automation (CRAFTSMA IN) is engaged in the business of manufacturing engineering components, sub-assemblies, products and rendering of contract manufacturing services to various industries
Key forensic takeaways include working capital troubles, alongside inflation woes deteriorating gross margins etc. There is grey area noticed in accounting treatment pertaining to JV as well.
Focus should also be on the aluminum segment, which is going through a tough phase regarding operating leverage and low margins.


Craftsman Automation Ltd: Forensic Review