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

India Channel Insight #32 | BYJU'S, Cars24, Udaan

India Channel Insight #33 | Shopee, Flipkart, Meesho, Swiggy

India Channel Insight #34 | Eicher (Royal Enfield), TVS Motors, Hero MotoCorp

Can After Tremors of the China Tutoring Sector Shakeup Impact India EdTech?

Asia (Ex-China) EdTech: A Deep-Dive into the Bonanza

Battle Lines Drawn As BABA Builds Out First/Last-Mile Capacity; But Who Will Fund 75+ Bn CNY CapEx?

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

Private Capital Markets

In this multi-part series, we discuss some of the upcoming and most recent tech IPOs from India.  The focus is on the narrative and not much on the numbers, as numbers are available to all. Our commentary is based on candid, anecdotal observations and is presented as an alternative food for thought.
Topics covered include History, Operating metrics, Profitability, Regulatory environment and impact on the business model, What makes them Unique along with some forward-looking estimates and catalysts where available. 
This insight focuses on <a href="https://www.smartkarma.com/entities/think-learn-pvt-ltd-byju-s" target="_blank" data-smartkarma-citation="entities:32203:1" rel="noopener">BYJU'S (1391510D IN)</a>, India's most valued ed-tech unicorn.

In this multi-part series, we discuss some of the upcoming and most recent tech IPOs from India.  The focus is on the narrative and not much on the numbers, as numbers are available to all. Our commentary is based on candid, anecdotal observations and is presented as an alternative food for thought.
Topics covered include History, Operating metrics, Profitability, Regulatory environment and impact on the business model, What makes them Unique along with some forward-looking estimates and catalysts where available. 
This insight focuses on BYJU'S (1391510D IN), India's most valued ed-tech unicorn. 

India Tech IPOs | Where Do You Go? | BYJU's - Shopping Its Way to Glory