Position Title: Research Analyst (India Equities)
Firm: An India-focused Investment Manager
Location: Mumbai, India (Work From Office)
Job Function: Fundamental Equity Research, Investment Analysis & Portfolio Support
Application Email: [email protected]

About the Firm
An India-focused investment manager running a long-term, bottom-up portfolio. SEBI-registered Category III AIF. The research process is rigorous and repeatable - it seeks to understand businesses deeply before committing capital. The research analyst is central to this process.

Role Summary
The Research Analyst will perform in-depth company and sector analysis and contribute original investment ideas as a core member of a small, cohesive team. The role demands intellectual and forensic-accounting rigour, independent thinking and a genuine passion for understanding business models. It provides significant responsibility and direct exposure to the CIO from day one. This role suits someone who has built a research foundation on the sell side or buy side and is ready for greater ownership and direct portfolio impact.

Qualifications & Experience
- MBA (Finance) / CFA / CA or equivalent; robust foundation in finance, accounting or economics.
- Minimum 3 years of equity research experience - sell-side (brokerage / IB) or buy-side (AIF, PMS, MF).
- Strong financial modelling, valuation and report-writing skills; ability to communicate research conclusions clearly.
- Multi-sector coverage - must be willing to cover sectors outside prior specialisation.
- Proficient in AI-assisted research tools - LLM-based analysis,



automated data extraction and AI-powered screening.
- Note: Freshers or candidates without direct equity research experience will not be considered.

Key Responsibilities
1. Fundamental & Industry Research
- Initiate and maintain coverage across companies and sectors; develop deep understanding of business models, competitive and regulatory dynamics and industry structure.
- Conduct forensic accounting checks: promoter quality, related-party transactions, capital allocation track records and balance sheet integrity.
- Conduct primary research - management meetings, competitor interviews, site visits, channel checks and industry expert calls; prepare detailed notes after earnings calls, analyst days and conferences.
- Monitor corporate filings, annual reports, regulatory disclosures and sector databases to build differentiated views.

2. Financial Modelling, Valuation & Investment Process
- Build and maintain detailed financial models (P&L;, balance sheet, cash flow, DCF, reverse DCF, SOTP) with scenario and sensitivity analysis.
- Analyse financial statements for accounting quality issues, off-balance-sheet risks and earnings sustainability; benchmark valuations across peers, historical ranges and global comparables.




- Generate actionable long-biased ideas and selective structural shorts with a clearly articulated thesis, valuation and risk factors; assist the CIO in portfolio construction, position sizing and investment presentations.
- Monitor portfolio holdings; trigger alerts on material developments - earnings, management changes, regulatory shifts, capital allocation decisions - and track relevant macro and sectoral trends.

3. AI-Enabled Research
- Leverage AI tools to accelerate research - automated transcript and filings analysis, earnings call summarisation and financial data extraction.
- Use LLMs and structured prompting to synthesise large volumes of industry and company data; build and maintain AI-assisted screening models to surface investment opportunities.
- Stay current with emerging AI tools applicable to investment research; proactively adopt and share new workflows with the team.

4. Reporting & Compliance
- Write well-structured investment reports for the CIO - thesis, variant view, financial analysis, valuation and transparent recommendations; support quarterly investor letters and investor presentations.
- Ensure all activities comply with SEBI (AIF) Regulations and internal compliance policies, including personal trading and information-barrier requirements.
- Maintain organised archives of research, models and source materials for audit and institutional continuity.

Compensation
Market-competitive salary, discretionary bonus based on firm and individual performance, and long-term career growth within a founder-led platform.

📌 Research Analyst (India Equities) For a Category III AIF (Mumbai)
🏢 Granity Capital Management
📍 Mumbai