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

Esds Software Solution / Forensic Accounting

<ul>
<li>In this insight, we briefly study forensics of <a href="https://www.smartkarma.com/entities/esds-software-solution-ltd" target="_blank" data-smartkarma-citation="entities:43957:1" rel="noopener">Esds Software Solution (1603279D IN)</a> , currently unlisted, had tried to float an IPO back in 2021 but it was later withdrawn.</li>
<li>The company offers managed cloud service and end to end multi-cloud requirements provider. Revenue growth has been moderate while margin erosion has been a concerning issue for the company.</li>
<li>Key forensic takeaways include nature of contingent liabilities, inability to generate cash and liquidity woes, quality of receivables, etc. </li>
</ul>


In this insight, we briefly study forensics of Esds Software Solution (1603279D IN) , currently unlisted, had tried to float an IPO back in 2021 but it was later withdrawn.
The company offers managed cloud service and end to end multi-cloud requirements provider. Revenue growth has been moderate while margin erosion has been a concerning issue for the company.
Key forensic takeaways include nature of contingent liabilities, inability to generate cash and liquidity woes, quality of receivables, etc. 


ESDS Software Solution- Forensic Analysis