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

HPL Electric & Power / Forensic Accounting

<ul>
<li>
<a href="https://www.smartkarma.com/entities/hpl-electric-power-ltd" target="_blank" data-smartkarma-citation="entities:36893:1" rel="noopener">HPL Electric &amp; Power (HPLE IN)</a> is one of the key players in domestic electric meters market and domestic on-load, change-over switches market. The company also manufactures LED products.</li>
<li>Forensic overview of the company indicates poor capital allocation in the past, along with cash generation issues.</li>
<li>One must also keep a note of the inherent credit risk, as well as some interesting line items such as software and designs, on the balance sheet.</li>
</ul>



HPL Electric &amp; Power (HPLE IN) is one of the key players in domestic electric meters market and domestic on-load, change-over switches market. The company also manufactures LED products.
Forensic overview of the company indicates poor capital allocation in the past, along with cash generation issues.
One must also keep a note of the inherent credit risk, as well as some interesting line items such as software and designs, on the balance sheet.


HPL Electric and Power Ltd- Forensic Analysis