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

Thematic (Sector/Industry)

India Textiles, apparel and luxury goods / Thematic (Sector/Industry)

In a recent media article, it was headlined that ‘Yarn Stocks on HNI Radar’. The headline comes on the back of a stellar performance of yarn and related textile stocks post the COVID era, owing to an exponential price hike in the same. The price hike was attributed to several industry related external factors such as limited supply, pent up demand, etc. due to the lockdown last year. As the economy prepares for another lockdown, albeit a fragmented one rather than nation-wide, it has created a hysteria of another phase of stellar performance in the coming months.
However on the contrary, our hypothesis which is supported by industry channel checks in Bhilwada, one of the textile hug of India, indicates that the last year events were one-off in nature and the industry might face a doomsday as it poses a very tricky situation going ahead.
We commence with the industry overview and what happened in the post COVID era that led to the frenzy last fiscal, and then move on to understand the uncertainty aspect hovering around in current scenario.

In a recent media article, it was headlined that ‘Yarn Stocks on HNI Radar’. The headline comes on the back of a stellar performance of yarn and related textile stocks post the COVID era, owing to an exponential price hike in the same. The price hike was attributed to several industry related external factors such as limited supply, pent up demand, etc. due to the lockdown last year. As the economy prepares for another lockdown, albeit a fragmented one rather than nation-wide, it has created a hysteria of another phase of stellar performance in the coming months.
However on the contrary, our hypothesis which is supported by industry channel checks in Bhilwada, one of the textile hug of India, indicates that the last year events were one-off in nature and the industry might face a doomsday as it poses a very tricky situation going ahead.
We commence with the industry overview and what happened in the post COVID era that led to the frenzy last fiscal, and then move on to understand the uncertainty aspect hovering around in current scenario.

Textiles Industry- Is It Over Hyped?