Manish Goel

About Manish Goel

SEBI Registered Research Analyst • Chartered Accountant

377 Articles Published

Manish Goel is a Chartered Accountant, SEBI Registered Research Analyst, and founder of Manish Goel PMS. A full-time value investor since 2010, he has helped thousands of investors build long-term wealth through quality stock picking and disciplined fundamental analysis.

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May 24, 2026

Bar chart of depreciation-to-gross-block ratio by fiscal year, rising from 14 (FY20) to 22 (FY25), with FY25 highlighted in green vs. dark blue bars for earlier years.

Depreciation-to-Gross-Block Ratio: How One Schedule II Disclosure Reveals Asset Newness, Implied Useful Life & Capital-Intensity Discipline

MGMANISH GOEL PMS☰ HomePast PerformanceServicesMedia & PressBlogsAwards WhatsApp · 7380122211 VALUE INVESTING · BLOG Depreciation-to-Gross-Block Ratio: How One Schedule II Disclosure Reveals Asset Newness, Implied Useful […]

May 24, 2026

Hero title: "Wonderful Business at a Fair Price" with subtitle about Buffett and Indian compounds, on a dark blue background.

Wonderful Business at a Fair Price: The See’s Candies Pivot That Reshaped Buffett’s Mind in 1972 – and Why It Justifies Owning Quality Indian Compounders Today

In January 1972 Buffett wrote a $25 million cheque for See's Candies - the single most consequential trade of his career. Here is why Indian value investors must abandon cigar-butt thinking and pay for quality.

May 23, 2026

Hero page with title 'The IKEA Effect' and four colored blocks: top-left Lucky (gray), top-right DISCIPLINED INVESTOR (green), bottom-left Confused (light gray), bottom-right BIAS-TRAPPED (orange).

The IKEA Effect: Norton, Mochon & Ariely’s 2012 Discovery That Labour Leads to Love

MGMANISH GOEL PMS☰ HomePast PerformanceServicesMedia & PressBlogsAwards WhatsApp · 7380122211 VALUE INVESTING · BLOG The IKEA Effect: Norton, Mochon & Ariely’s 2012 Discovery That Labour Leads […]

May 23, 2026

Infographic: Employee Cost-to-Revenue Ratio by fiscal year, rising from FY20 (14) to FY25 (22); FY25 bar is green.

Employee Cost-to-Revenue Ratio: How a Single P&L Line Reveals Operating Leverage, Wage Discipline & Hidden Margin Risk

The Employee Benefit Expense line is the cleanest fixed-cost intensity metric on any Indian P&L. Here is how to read it, benchmark it, and use it — illustrated with Titan Biotech FY25's audited markers.