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

Interglobe Aviation (Indigo) QIP Early Look - Headwinds Lead to a Change of Heart

India Channel Insight | Zomato, AU Bank, Johnson Hitachi, Nilkamal, Makemytrip

Zomato (Zomato IN) | Premium Valuations but Not so Premium Disclosures

ASA Capital Management

ASA Capital Management is a boutique Research and Investment Advisory firm focusing on primary research in India. ASA provides bespoke research services to Institutional Clients with a focus on due diligence backed with primary research, Field Trips & Channel Checks.

Equity Bottom-Up

InterGlobe Aviation Ltd / Equity Bottom-Up

<p>With the best business balance sheet and newer initiatives, <a href="https://www.smartkarma.com/entities/interglobe-aviation-ltd" target="_blank" data-smartkarma-citation="entities:24877:1" rel="noopener">Interglobe Aviation (INDIGO IN)</a> is likely to emerge stronger in the post pandemic world.</p>
<p>At current prices, INDIGO trades at 8.5x EV/EBIDTA estimates. We argue that multiple structural drivers are in place that could pose as an upside risk to consensus estimates and hence any weakness due to regulatory developments would be an attractive entry point to own this market leader. </p>

With the best business balance sheet and newer initiatives, Interglobe Aviation (INDIGO IN) is likely to emerge stronger in the post pandemic world.
At current prices, INDIGO trades at 8.5x EV/EBIDTA estimates. We argue that multiple structural drivers are in place that could pose as an upside risk to consensus estimates and hence any weakness due to regulatory developments would be an attractive entry point to own this market leader. 

InterGlobe Aviation Ltd

INDIGO IN | Time to Get Aboard