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

India Channel Insight #21 | Hero Motocorp, Royal Enfield (Eicher Motors)

India Channel Insight #28 | What Is the Two-Wheeler EV Scene in India?

India EV Sector: Electric 2-Wheelers Are the Early Riders - Know the What, Why & Who

The Narrative | Q2 FY22 | India Internet - IndiaMart / Just Dial / Makemytrip / Info Edge India

The Narrative | Q2 FY22 | India Staples -  Hindustan Unilever, Marico, Dabur, Britannia, Zydus Well

The Narrative | Q2 FY22 | India F&B - Jubi Food, United Spirits, United Breweries, Radico Khaitan

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 Automobiles / Thematic (Sector/Industry)

<h3>About The Narrative</h3>
Earnings conference calls are important sources that aid us in the identification of potential catalysts and drivers of stock returns. Every quarter we go through these transcripts and connect them with primary research with the objective of assessing on-ground reality against management commentary. 
The edition focuses on key quotes from the earnings transcripts of <a href="https://www.smartkarma.com/entities/tvs-motor-co-ltd" target="_blank" data-smartkarma-citation="entities:16123:1" rel="noopener">TVS Motor (TVSL IN)</a> / <a href="https://www.smartkarma.com/entities/eicher-motors-ltd" target="_blank" data-smartkarma-citation="entities:18316:1" rel="noopener">Eicher Motors (EIM IN)</a> / <a href="https://www.smartkarma.com/entities/bajaj-auto-ltd" target="_blank" data-smartkarma-citation="entities:3613:1" rel="noopener">Bajaj Auto Ltd (BJAUT IN)</a> / <a href="https://www.smartkarma.com/entities/hero-motocorp-ltd" target="_blank" data-smartkarma-citation="entities:2391:1" rel="noopener">Hero Motocorp (HMCL IN)</a> 
We have separated the quotes to highlight Business Performance, Exports &amp; Premiumization, Commodity Inflation, Price Increases, Supply Chains and Margins, New Launches, EV, Demand  Environment &amp; Outlook.

About The Narrative
Earnings conference calls are important sources that aid us in the identification of potential catalysts and drivers of stock returns. Every quarter we go through these transcripts and connect them with primary research with the objective of assessing on-ground reality against management commentary. 
The edition focuses on key quotes from the earnings transcripts of TVS Motor (TVSL IN) / Eicher Motors (EIM IN) / Bajaj Auto Ltd (BJAUT IN) / Hero Motocorp (HMCL IN) 
We have separated the quotes to highlight Business Performance, Exports &amp; Premiumization, Commodity Inflation, Price Increases, Supply Chains and Margins, New Launches, EV, Demand  Environment &amp; Outlook.

The Narrative | Q2 FY22 | India 2Ws - TVS Motor / Eicher / Bajaj Auto/ Hero Motocorp