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.

April 23, 2026
Hero section with a dark navy background showing a capacity utilisation bar chart from FY20 to FY25, ending at 11% for FY25 (green bar). The page title is ‘Capacity Utilisation’ with a subtitle about growth.

Capacity Utilisation: When Existing Plants Can Fund the Next Leg of Growth

Capacity Utilisation becomes more useful when investors translate it into audited numbers, cleaner disclosure, and better minority-shareholder readability.
April 23, 2026
Hero header for 'Base Rate Neglect' article with a 2x2 color grid: labels Lucky, Disciplined Investor, Confused, and Bias-Trapped conveying investor mindsets.

Base Rate Neglect: The Kahneman-Tversky 1973 Cognitive Bias Behind ₹1.8 Lakh Crore of Indian F&O Losses

Kahneman & Tversky's 1973 "Tom W." experiment exposed base rate neglect — the bias behind 93% Indian F&O loss rates. Learn the 5-step counter-measure framework, and see how Titan Biotech's FY25 CFO/OP of 103%, ₹3 Cr borrowings, and 29% 10-year profit CAGR illustrate favourable-tail corporate markers (educational case study, not a valuation call).
April 23, 2026
Bar chart showing debt-to-equity by fiscal year FY20–FY25; values fall from 28 to 11, FY25 bar is green.

Debt-to-Equity Ratio: The Single Most Important Leverage Metric Every Indian Value Investor Must Master

The Debt-to-Equity Ratio is the single most important leverage filter every Indian value investor must master. Titan Biotech FY25's ₹3 Cr borrowings against a strong net worth produces a sub-0.05x D/E — a textbook illustration of a fortress balance sheet.
April 22, 2026
Infographic titled Switching Costs: horizontal bar chart of yearly costs FY20–FY25; values 28, 26, 22, 18, 14, 11, with FY25 bar in green.

Switching Costs: The Invisible Lock-In That Protects Great Businesses for Decades

Switching Costs becomes more useful when investors translate it into audited numbers, cleaner disclosure, and better minority-shareholder readability.
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