Manish Goel

Manish Goel - SEBI Registered Research Analyst

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.

April 18, 2026
Cement sector analysis framework grid with four colored blocks: Trader (gray), Compounder (green), Drift (light gray), Speculator (orange) on a dark blue background.

Cement Sector Analysis Framework: The 8-Factor Checklist Every Indian Value Investor Must Use to Separate Multibagger Cement Stocks from Value Traps in India’s ₹2 Lakh Crore Super-Cycle

A complete 8-factor framework for analysing Indian cement stocks — capacity, region, EBITDA per tonne, balance sheet, and consolidation theme. Live data, no F&O noise, real multibagger hunting.
April 17, 2026
Bar chart titled Normalized Earnings Analysis showing FY20–FY25; FY25 is green with value 16, others show 38, 32, 26, 22, 19.

Normalized Earnings Analysis: How to See Through Cyclical Noise and Find the True Earning Power of Indian Stocks — The Professional Valuation Technique Every Serious Value Investor Must Master

Stop valuing companies on volatile reported earnings. Master the five-step normalization framework that Warren Buffett, Bruce Greenwald, and Howard Marks all use — and see why Titan Biotech's consistent earnings power already passes the test.
April 17, 2026
Infographic: Price-to-Sales (P/S) Ratio with a horizontal bar chart from FY20 to FY25 showing values 38, 32, 26, 22, 19, and 16; FY25 bar is green to highlight the final value, captioned 'Manish Goel Portfolio Management Service' page with a subtitle about undervalued Indian multibaggers.

Price-to-Sales (P/S) Ratio: Ken Fisher’s Revolutionary Valuation Metric That Reveals Undervalued Indian Multibaggers When Earnings Temporarily Collapse — The Forgotten Formula Every Value Investor Must Master in 2026

Ken Fisher's Price-to-Sales (P/S) ratio is the valuation tool Indian investors must master when earnings are temporarily distorted. Complete framework: thresholds, pitfalls, quality filters, and how to triangulate P/S with P/E, P/B, EV/EBITDA and DCF — with Titan Biotech illustrating the Super Stock quality envelope.
April 17, 2026
Title: 'Management Compensation vs Profit' with a dark blue hero background and a green subtitle. A horizontal bar chart shows FY20–FY25 values, ending with a green FY25 bar at 11. FY20 28, FY21 26, FY22 22, FY23 18, FY24 14, FY25 11.

Management Compensation vs Profit

Titan Biotech's FY25 board paid ₹4.56 Cr across 5 directors — on zero raises during a down year. We decode Section 197, the CEO-to-median ratio (20.84:1), and the four-point forensic checklist every Indian value investor must apply to small-cap governance.
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