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

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

Equity Capital Markets

Sanathan Textiles / Equity Capital Markets

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<a href="https://www.smartkarma.com/entities/sanathan-textiles-private-limited" target="_blank" data-smartkarma-citation="entities:43995:1" rel="noopener">Sanathan Textiles (0907479D IN)</a> plans to re-appear for its IPO. The company is into yarn manufacturing and has a presence in all three, Polyester, Cotton and Technical Textiles segments. </li>
<li>Revenue growth did light up in FY22, however topline growth has pretty much been stale since then. Moreover, margins have also been on a sliding trajectory.</li>
<li>Key forensic takeaways include capitalising of expenses on the back of falling margins, acquisition of a non-operating subsidiary from promoters, secondary income sources driving profits, etc.</li>
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Sanathan Textiles (0907479D IN) plans to re-appear for its IPO. The company is into yarn manufacturing and has a presence in all three, Polyester, Cotton and Technical Textiles segments. 
Revenue growth did light up in FY22, however topline growth has pretty much been stale since then. Moreover, margins have also been on a sliding trajectory.
Key forensic takeaways include capitalising of expenses on the back of falling margins, acquisition of a non-operating subsidiary from promoters, secondary income sources driving profits, etc.


Sanathan Textiles

Sanathan Textiles IPO- Forensic Analysis