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About Manish Goel

SEBI Registered Investment Adviser • Chartered Accountant

422 Articles Published

Manish Goel is a Chartered Accountant and the Founder of Multibagger Securities Research & Advisory Pvt. Ltd. (SEBI Registered Investment Adviser, INA100007736). 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.

September 18, 2026

Cover illustration: a wide stream of coins flowing through an open counter with only a small gold portion falling into the shopkeeper's own tin, the rest passing straight out the other side

The Money That Only Passes Through: How to Tell What a Business Earns From What It Merely Handles

Crores can move through a company's bank account in a year without a rupee of it belonging to the company. There is an accounting rule that decides which is which, and knowing it will stop you mistaking a big number for a big business.

September 17, 2026

Navy hero scene with a tall kitchen cabinet on the left and a tilted 'Monthly Bill' receipt beside bold copy reading 'The Milk Bill That Comes Even When You Are Away'

The Milk Bill That Comes Even When You Are Away: What a Guaranteed Contract Really Guarantees

Some companies are paid by their customers whether or not those customers take delivery. It is the closest thing in business to a salary. But a promise is only worth as much as the person who made it, and there are four questions that tell you whether this one is worth anything at all.

September 16, 2026

Cover illustration: a shop counter with an official price list fixed to the wall above it, and a flat line running across the top of the frame to show a ceiling on profit

The Shop With the Price List on the Wall: How to Judge a Business Whose Profit Is Decided by Someone Else

Some of India’s largest listed companies are not allowed to earn more than a fixed return on the money their owners put in. That ceiling sounds like bad news. Understanding exactly how it is calculated tells you what kind of business you are really looking at — and the three ways the promise quietly fails.

September 15, 2026

Who Pays for the Next Shop: How to Judge a Company That Grows by Lending Out Its Name

Some companies add a hundred outlets in a year without building a single one of them. Who pays for those shops, and what the company keeps in return, tells you a great deal about the quality of the business.