Indian Accounting Research Analyst, Trudence Capital Advisors

Nitin Mangal

Nitin Mangal is a Research Analyst 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 newspapers such as Wall Street Journal, Business Standard etc

Indian Accounting Research Analyst

Radico Khaitan Limited: On the Path of Getting Debt Free

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

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<a href="https://www.smartkarma.com/entities/radico-khaitan-ltd" target="_blank" data-smartkarma-citation="entities:20842:1" rel="noopener">Radico Khaitan (RDCK IN)</a> had succeeded in getting de-leveraged to a strong extent,  as mentioned in our previous insight, <a href="https://www.smartkarma.com/insights/radico-khaitan-limited-on-the-path-of-getting-debt-free" target="_blank" data-smartkarma-citation="insights:30221" rel="noopener">Radico Khaitan Limited: On the Path of Getting Debt Free</a> </li>
<li>The company has entered into the new capex phase and has accumulated some debt, the annual report F22 also highlights few irregularities on the forensic side.</li>
<li>These include complex structure for land purchase, receivables provisioning, deviation between RoU and lease assets, etc. </li>
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Radico Khaitan (RDCK IN) had succeeded in getting de-leveraged to a strong extent,  as mentioned in our previous insight, Radico Khaitan Limited: On the Path of Getting Debt Free 
The company has entered into the new capex phase and has accumulated some debt, the annual report F22 also highlights few irregularities on the forensic side.
These include complex structure for land purchase, receivables provisioning, deviation between RoU and lease assets, etc. 


Radico Khaitan

Radico Khaitan: Forensic Analysis