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

USL: Non-Core Assets Monetization- Balance Sheet Booster

Diageo Privatising United Spirits - Worth a Shot

<p>There were cases regarding diversion of funds from the <a href="https://www.smartkarma.com/entities/united-spirits-ltd" target="_blank" data-smartkarma-citation="entities:5146:1">United Spirits (UNSP IN)</a> to its Indian and overseas subsidiaries related to the company’s former non-executive chairman. Exceptional items have been soaking the profits from the income statement of the company. The Company had pre-existing dues that was due to the Company and its wholly-owned subsidiaries from United Breweries (Holdings) Limited (‘UBHL’) and its subsidiaries. Most of the amounts related to this have been either expensed or provided for in the financial statements of the company. It is expected that moving forward, the profitability of the company will be back to normal as financial statements cleansing exercise is over.</p>

There were cases regarding diversion of funds from the United Spirits (UNSP IN) to its Indian and overseas subsidiaries related to the company’s former non-executive chairman. Exceptional items have been soaking the profits from the income statement of the company. The Company had pre-existing dues that was due to the Company and its wholly-owned subsidiaries from United Breweries (Holdings) Limited (‘UBHL’) and its subsidiaries. Most of the amounts related to this have been either expensed or provided for in the financial statements of the company. It is expected that moving forward, the profitability of the company will be back to normal as financial statements cleansing exercise is over.

United Spirits Limited: Cleansing Exercise Is Almost Over