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

Action Construction Equipment / Forensic Accounting

<ul>
<li>
<a href="https://www.smartkarma.com/entities/action-construction-equipment" target="_blank" data-smartkarma-citation="entities:17379:1" rel="noopener">Action Construction Equipment (ACCE IN)</a> is a specialist in cranes. It is also in the business of material-handling, construction equipment and agri products such as tractors and harvesters. </li>
<li>What has attracted eyes towards ACE is the incredible growth. F16-F19 especially was the high growth period where the company registered a growth of 28% CAGR.</li>
<li>However a deep analysis reveals that the 'aggressive growth' is rather fictional in nature. We combine this with other facets to give us an idea why ACE remains uncertain.</li>
</ul>



Action Construction Equipment (ACCE IN) is a specialist in cranes. It is also in the business of material-handling, construction equipment and agri products such as tractors and harvesters. 
What has attracted eyes towards ACE is the incredible growth. F16-F19 especially was the high growth period where the company registered a growth of 28% CAGR.
However a deep analysis reveals that the 'aggressive growth' is rather fictional in nature. We combine this with other facets to give us an idea why ACE remains uncertain.


Forensic Analysis: Action Construction Equipment Ltd