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

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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

Shankara Building Products L / Forensic Accounting

Shankara Building Products L (SHANKARA IN)

<ul>
<li>
<a href="https://www.smartkarma.com/entities/shankara-building-products-l" target="_blank" data-smartkarma-citation="entities:27268:1" rel="noopener">Shankara Building Products L (SHANKARA IN)</a> is seeing a healthy topline growth in the last three years but this is accompanied with margin contractions.  </li>
<li>As far as the forensics are concerned, the company does not have grave auditor red flags like earlier but there are still some eye-catching checks.</li>
<li>Caution must be given to the finance costs of the company which look on a higher side vis-a-vis the borrowings. Moreover, inadequate provisioning might also expose out some receivables.</li>
</ul>



Shankara Building Products L (SHANKARA IN) is seeing a healthy topline growth in the last three years but this is accompanied with margin contractions.  
As far as the forensics are concerned, the company does not have grave auditor red flags like earlier but there are still some eye-catching checks.
Caution must be given to the finance costs of the company which look on a higher side vis-a-vis the borrowings. Moreover, inadequate provisioning might also expose out some receivables.


Shankara Building Products: Updated Forensic Analysis