Overview
Fundamental Analyst (Equity Research)
About the Role
We are seeking a highly skilled Fundamental Analyst (CA/CFA) with a strong background in equity research, valuation, and financial modeling to generate actionable investment ideas and drive alpha for institutional portfolios. The ideal candidate will have expertise in Indian equity markets with hands-on experience across small and mid-cap sectors, strong valuation acumen, and the ability to deliver high-quality, differentiated insights that support the investment decision-making process.
Key Responsibilities
Equity Research & Idea Generation
– Develop and evaluate differentiated long/short trading ideas and investment strategies leveraging fundamental catalysts, valuation dislocations, and sector dynamics.
– Conduct in-depth due diligence on companies, including financial statement analysis, management quality assessment, corporate governance reviews, and peer benchmarking.
– Build and maintain robust financial models (DCF, relative valuation, SOTP, NAV models, scenario/sensitivity analysis, regression models) to derive fair value and evaluate upside/downside potential.
– Identify and track emerging trends, regulatory shifts, and macroeconomic factors impacting portfolio companies and sectors.
Valuation & Due Diligence
– Conduct valuation analysis for both primary offerings (IPOs/QIPs) and secondary market opportunities, ensuring accuracy in earnings forecasts and risk-adjusted return expectations.
– Participate in investment due diligence processes including site visits, management calls, industry expert consultations, and competitive intelligence gathering.
Research Output & Portfolio Contribution
– Prepare detailed investment memos, sector outlooks, and company initiation reports, articulating investment thesis, key drivers, valuation rationale, and risk factors.
– Present and defend recommendations before the Investment Committee and Fund Managers, highlighting sensitivity to assumptions and potential catalysts.
– Track and evaluate portfolio company performance, corporate actions, earnings calls, and market developments to adjust recommendations in real-time.
Stakeholder & Market Engagement
– Build and maintain relationships with company management, industry bodies, policy experts, and sell-side analysts to enhance research quality and validate assumptions.
– Collaborate with fund managers, traders, and strategy teams to integrate bottom-up research with top-down views on sectors and the economy.
Key Performance Indicators (KPIs)
– Quality, originality, and acceptance rate of investment ideas.
– Alpha generation and portfolio performance contribution.
– Accuracy and reliability of earnings forecasts and valuations.
– Timeliness and relevance of research deliverables.
– Breadth and depth of sector/company coverage expansion.
– Effective cross-functional collaboration with portfolio and trading teams.
– Adherence to regulatory, ethical, and compliance frameworks.
Qualifications & Experience
– Chartered Accountant (CA) and/or Chartered Financial Analyst (CFA) qualification is mandatory.
– 5+ years of institutional equity research experience with deep exposure to Indian markets.
– Proven track record of small/mid-cap sector coverage and successful investment recommendations.
– Advanced proficiency in equity valuation methodologies, accounting standards (Ind-AS/IFRS), and financial modeling tools (Excel, VBA, Bloomberg, Reuters, FactSet, CapitalIQ).
– Strong grasp of macroeconomic drivers, industry structures, and regulatory frameworks in India.
Core Competencies
– Analytical Excellence: Mastery of valuation frameworks (DCF, multiples, factor models, scenario analysis).
– Intellectual Rigor: Ability to synthesize qualitative and quantitative insights into high-conviction investment theses.
– Communication Skills: Strong written and verbal ability to present research in a clear, structured, and persuasive manner.
– Independence & Ownership: Capability to drive end-to-end research workflows with minimal supervision.
– Collaboration: Ability to work seamlessly with fund managers, traders, and cross-functional teams.
– Ethics & Integrity: Commitment to compliance, transparency, and highest standards of research quality.