Manish Goel - SEBI Registered Investment Advisor

About Manish Goel

SEBI Registered Investment Advisor • Chartered Accountant

383 Articles Published

Manish Goel is a Chartered Accountant, SEBI-registered Investment Advisor, and founder of Multibagger Shares. 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.

May 1, 2026
Infographic bar chart titled EBITDA Margin; FY20–FY25 margins rise from 14% to 22%, final bar green.

EBITDA Margin: The Profitability Yardstick Every Indian Value Investor Must Master

EBITDA Margin is the cleanest operating-profitability lens for Indian value investors. Educational walkthrough using Titan Biotech FY25 audited numbers — ~18-22% margin, ~103% CFO/OP conversion, near debt-free — to illustrate disciplined specialty-biotech economics. Not a buy/sell recommendation.
May 1, 2026
Dark blue website hero with headline 'Stocks as Equity Bonds' and green subtitle; a 2x2 color-block grid: Trader (gray), Compounder (green), Drift (light gray), Speculator (orange); subtle footer text.

Stocks as Equity Bonds: Warren Buffett’s 1977 Equity-Bond Framework — Why Indian Long-Term Investors Should Treat Every Share Certificate as a Variable-Coupon Bond

Warren Buffett's 1977 Fortune essay reframed every share certificate as a variable-coupon bond. Today's deep-dive explains the equity-bond framework, the three levers (starting yield, reinvestment ROE, retention discipline), and how Titan Biotech FY25 audited numbers illustrate the principle.
April 30, 2026
Mbcover Pre Mortem Analysis Gary Klein Titan Biotech Fy25 960x750 - Multibagger Shares

Pre-Mortem Analysis: Gary Klein’s 2007 HBR Discipline for Imagining Failure Before You Invest

Gary Klein's 2007 HBR pre-mortem discipline — imagining failure before you click 'Buy' — is the highest-return habit available to Indian retail investors. Plus a 12-question small-cap pre-mortem checklist applied to Titan Biotech FY25 audited numbers as an educational process case study.
April 30, 2026
Hero banner for 'Return on Capital Employed (RoCE)' article with a centered circular FY25 chart on a dark blue background, top branding visible.

Return on Capital Employed (RoCE): The Single Most Important Profitability Metric for Indian Value Investors

Buffett calls RoCE the single most important number in business analysis. This educational deep-dive explains the formula, the Indian thresholds, the five common traps, and applies it to Titan Biotech FY25's audited markers.
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