Research · Due diligence services

India intelligence for US business decisions

Financial due diligence, corporate research, commercial risk and sector intelligence on Indian companies.

We help US businesses and advisers assess Indian companies with greater clarity, through disciplined financial analysis, verifiable corporate research and structured commercial risk reporting. An independent practice, delivered remotely from Jaipur.

Discuss an assignment See what we cover
  1. US business needAcquisition · Partner · Supplier
  2. India-based researchFinancial · Commercial · Sector
  3. Decision-ready insightRed flags · Options · Next steps

Six services, from first screening to detailed assessment

Engagements are defined by the records available, the procedures agreed and the boundaries of the report. We offer focused analytical judgement and clear documentation, not generic back-office capacity.

Financial due diligence

Review of revenue quality, profitability, working capital, indebtedness, cash generation and unusual financial trends.

You receive: financial risk assessment, ratios, red flags and management queries.

Corporate and counterparty research

Review of incorporation, directors, ownership, history, related-party indicators, litigation signals and business reputation.

You receive: a documented company dossier and risk register.

Supplier and outsourcing assessment

Evaluation of manufacturing or service counterparties: their financial stability, dependency risks and commercial credibility.

You receive: supplier comparison, risk scorecard and diligence questions.

Financial modelling and valuation support

Forecasts, cash-flow scenarios, working-capital models and preliminary valuation analyses for business decisions.

You receive: editable model, assumptions register and executive summary.
Specialist focus

Healthcare finance and sector intelligence

Assessment of hospitals, diagnostics, insurers and health-tech businesses, using sector-specific metrics and operating models.

You receive: benchmarking, market assessment and sector research report.

Research support for professional firms

Company profiles, competitor comparisons, target screens and India-specific briefing materials, supported under confidentiality terms.

You receive: research dossier, source log and management briefing.

Where this helps

We work with US boutique M&A advisers and independent sponsors, search funds and small investment firms, importers and SME buyers, and consulting and accounting firms.

Acquisition target

A US buyer is considering an Indian company. We assess earnings sustainability, receivables, debt disclosures and related-party exposure. Specialists handle legal and tax verification.

New supplier

A US distributor is weighing a lower-cost Indian manufacturer. We check entity background, financial resilience and commercial dependencies, and flag what needs a site visit or third-party confirmation.

Startup investment

A private investor wants clarity on burn rate, runway, revenue quality, concentration risk and forecast assumptions. Ownership and cap-table questions go to qualified advisers.

Healthcare entry

A healthcare group is evaluating Indian hospitals, diagnostics operators or health-tech partners. We prepare sector benchmarks, operating-model analysis and preliminary partner comparisons.

Illustrative situations, not completed assignments.

How we work

Credibility depends on a consistent workflow, traceable sources, explicit assumptions and transparent limitations. Each assignment begins with a written scope and ends with a source-documented, risk-ranked report.

  1. ScopeDefine the questions and agree the written scope.
  2. VerifyCheck each source and record it in a dated evidence log.
  3. AnalyseTest the financials and the commercial picture.
  4. ReportRank the risks and set out next-step questions.

What we examine

  • Corporate identity – incorporation, status, directorsMinistry of Corporate Affairs (MCA)
  • Financial statements – balance sheet, income and cash flowsAudited accounts you provide; available MCA records
  • Tax indicators – GST registration and statusGST portal; authorised client records
  • Debt and security – borrowings, registered chargesMCA charge filings; banking records supplied
  • Ownership – shareholders, beneficial and control indicatorsFilings and corporate documents
  • Disputes – litigation and insolvency indicatorseCourts, NCLT and public records
  • Operations – customer, supplier and delivery profileDisclosures, interviews and references
  • Reputation – credible adverse media and controversiesReliable public reporting

What you receive

Risk registerIllustrative layout · no real company or data
Corporate status and directorsMatches public records
Clear
Receivables and working capitalManagement query listed
Query
Related-party transactionsRaised as a red flag
Flag
Borrowings and registered chargesNeeds a banking record
Verify
Litigation and adverse mediaNo indicators found
Clear
Standard report: executive summary, company background, financial analysis, commercial and operational risks, red flags, evidence limits and next-step questions.

Three ways to engage

Start with a contained assignment and go deeper where the decision calls for it.

Company background review

For initial supplier or counterparty screening.

  • Entity status, incorporation and directors
  • Public ownership and financial indicators, where accessible
  • Business activity, website and address consistency checks
  • Preliminary litigation and adverse-media search
  • Concise red-flag summary

Financial red-flag review

For buyers, advisers and firms considering material exposure.

  • Up to three years of supplied financial statements
  • Profitability, liquidity, leverage and cash-flow trends
  • Working-capital and earnings-quality indicators
  • Related-party indicators and feasible peer comparison
  • Financial red flags and questions for management

Commercial and financial review

For acquisitions, joint ventures and strategic partnerships.

  • Everything in the first two reviews, as relevant
  • Industry, competitor and business-model assessment
  • Concentration risks, where supporting data are provided
  • Management and promoter research, and operational risks
  • Integrated risk matrix and issues for specialist advisers

Every engagement starts with a written scope covering the target entity, documents and sources, exclusions, schedule and revisions. Site visits, multi-entity assessments and specialist verification are scoped separately.

What a desk-based report can and cannot establish

Our value lies in disciplined analysis, transparent evidence and the clear identification of risks, not in promises of certainty.

What we can document

  • Registered corporate data and accessible public filings
  • Supplied accounts and identifiable inconsistencies
  • Public litigation and adverse-media indicators
  • Documented commercial questions and risk factors

What needs further work to verify

  • Actual balances of cash, inventory and liabilities
  • Authenticity of every underlying transaction
  • Absence of unrecorded disputes or contingent claims
  • On-site capacity, quality or performance, without independent checks

Engagements run on written terms covering scope, reliance, limitations and confidentiality. Conflicts are assessed and client information is protected. Please note: this is factual corporate and commercial research. It is not legal or tax advice, a statutory audit, or a securities buy, sell or hold recommendation.

Assessing an Indian company?

Tell us the decision you need to make and the documents you have. We will respond with a written scope.

Contact us support@manojpareek.in