In this episode of Konversation with Kushal, legendary small-cap investor Ashish Chugh-founder of Hidden Gems Advisory and the man who has read over 4,500 balance sheets — decodes the exact framework behind his biggest multibaggers including Avanti Feeds (100X), Natco Pharma (70X), Greenply (60X) and Bajaj Finserv (50X). Ashish breaks down his 3Q framework — Quality of Business, Quality of Management and Quality of Balance Sheet — and explains why he ignores PE ratios, why he actively hunts loss-making companies with positive cash flows, and why a stock available at ₹4 crore market cap once turned into a 100-bagger in just 3 years. He shares the raw psychology of small-cap investing, the difference between a company performing and a stock performing, and why "stomach for profits" matters more than IQ. From decoding the GVK Power write-off, the demerger arbitrage plays in Marico-Kaya and Arvind Smart Spaces, why SME IPOs are a strict NO, to how he turned ₹34 lakh into ₹8 crore between 2003-2005 — this is a masterclass for anyone serious about micro-cap and small-cap investing.Here's what you'll learn in this episode:1.The 3Q Framework: Why Quality of Business, Management and Balance Sheet-in that order — is the only filter Ashish uses to spot hidden multibaggers under ₹500 crore market cap.2.Why Loss-Making Companies Make The Best Buys: The exact reason a stock with ₹685 crore loss and ₹17 crore positive cash flow can be a no-brainer-and how to spot the difference.3.Stock Performance vs Company Performance:The single biggest mistake retail investors make, and why Ashish buys MORE when the company performs but the stock falls.4.The SME IPO Trap:Why 80% of SME IPOs trade 50-90% below their listing highs, and why secondary markets still offer better value than primary issues today.5. Demerger Arbitrage Explained:How small demerged entities like Marico Kaya and Arvind Smart Spaces turned into 10-20X returns in just 2 years — and how to spot the next one.If you want to understand how India's most respected small-cap investor actually thinks about risk, patience and balance sheets, this conversation will change the way you look at stocks forever.🔔 Hit SUBSCRIBE and turn on notifications so you never miss a deep dive with India's sharpest investing minds!#ashishchugh #hiddengems #smallcapinvesting #multibaggerstocks #microcapinvesting #valueinvestingindia #stockmarketindia #balancesheetanalysis #konversationwithkushal #kushallodha

In this episode of Konversation with Kushal, Mohit Bajaj, Founder of a fast-growing tyre recycling company heading for its IPO, breaks down how he built a 50 crore turnover business from scrap tyres - and why he believes the more fear you feel, the bigger the profit. From taking a ₹4 crore loan in 2005 by pledging his own house, to decoding the EPR (Extended Producer Responsibility) model, and the difference between natural, synthetic and recycled rubber, this is a raw masterclass on risk, conviction and building wealth from waste.Here's what you'll learn in this episode:1. The Risk = Profit Mindset: Why Mohit runs his business in the zones that scare him, and how fear is the truest signal of real growth.2. The EPR Goldmine: How EPR credits (just like carbon credits) created a new revenue stream that doubled his margins.3. Tyre Recycling Decoded: The full B2B model - crumb rubber, reclaim rubber, pyrolysis plants and who actually buys this material.4. White Spaces For New Entrepreneurs: Low-investment ideas you can start with ₹20-25 lakh and recover ROI in 2 years. Hit SUBSCRIBE and turn on notifications so you never miss a deep dive with India's sharpest business builders!#MohitBajaj #KushalLodha #TyreRecycling #IPOAnalysis #BusinessMindset #RubberRecycling #Entrepreneurship #StartupIndia #EPRCredits #ManufacturingBusiness #RiskTaking #BusinessGrowth #SaharanpurIndustrialist #WealthCreationIndia

In this episode of Konversation with Kushal, we sit down with Rohit Srivastava-Founder of India Charts & Strike Money and one of India's foremost experts on Elliott Wave Analysis, with 25+ years of experience reading the markets. In this masterclass, Rohit breaks down exactly how to apply Elliott Wave Theory to forecast Nifty, Gold, Silver, the Dollar Index and individual stocks - live, on real charts. If you've ever wondered how pros actually predict market targets instead of just following trends, this one's for you.In this episode, you will learn:1. What Elliott Wave Analysis really is-the 5-wave & 3-wave structure behind every trend2. The 3 unbreakable rules of Elliott Wave3. A live Nifty wave count and where the market heads next4. Rohit's targets for Nifty, Gold, Silver, Crude & Rupee-Dollar by 20265. How the Dollar Index drives commodities, emerging markets & Indian equities6. Fibonacci ratios and the Golden Ratio for pinpointing price targets7. His original "Value Wave Investing" framework-Elliott Wave meets fundamentals (Infosys, BHEL & IT examples)8. Why behavioural finance is the final piece of becoming a profitable investor🔔 Hit SUBSCRIBE so you never miss a deep dive with the sharpest minds in Indian markets!#RohitSrivastava #ElliottWaveAnalysis #NiftyPrediction #GoldPriceTarget #StockMarketIndia #TechnicalAnalysis #IndiaCharts #StrikeMoney #FibonacciTrading #ValueWaveInvesting #KushalLodha #konversationwithkushal

What does it take to go from selling vegetables on a Dadar footpath at 3 AM to becoming a Chartered Accountant running businesses across Oman and the UAE? In this deeply moving episode, we walk through the real streets where Abhishek's story began -the same spot where his father ran a vegetable stall, the 150 sq ft slum home in Vikhroli where five people lived and studied together, and the township he later gifted his parents so they could finally live the life they deserved. This isn't a story about luck. It's a story about a 13-year-old boy who sold 400–500 kg of vegetables in a three-hour window every morning, then went straight to school, college, and CA studies on barely four to five hours of sleep.From a daily income of ₹200–₹400 to a salary that crossed 2.5 lakh per month, Abhishek's journey is proof that your roots don't define your limits -they build your strength. Here's what you'll take away from this video:1. Why your struggles are not your weakness-they're the exact thing that makes you unbreakable2. How Abhishek balanced a vegetable stall, school, college, and one of India's toughest exams at the same time3. The mindset shift that took him from a 150 sq ft home to a 150-acre township4. What a fresher CA can actually expect to earn in Oman and the GCC right now5. The one belief that carried him through every hard situation: believe in yourself and never give upYour circumstances are your starting point, not your destination. Watch till the end — this story will stay with you.#KonversationWithKushal #CAJourney #SuccessStory #RagsToRiches #CharteredAccountant #MotivationalStory #SelfMadeSuccess #IndianEntrepreneur #NeverGiveUp #CAStudent #BelieveInYourself #FromSlumToSuccess #InspirationalStory #FinanceCreator #HardWorkPaysOff

In this no-nonsense roundtable on Konversation with Kushal, three of India's most trusted SEBI Registered Investment Advisers-Suresh Sadagopan,Harsh Roongta, and Lovaii Navlakhi-come together to bust every myth your bank, broker, and insurance agent has been selling you. From real estate return data to credit card traps to the right time to buy a house, this is the most honest, conflict-free personal finance conversation young India has been waiting for. Whether you are 22 and just starting out or 35 juggling EMIs and growing responsibilities, this will completely rewire how you think about money.In this episode, you will learn:1.The Two Financial Planning Traps Most Indians Fall Into-Why "I'll plan when I have more money" and "I already have enough" are both equally dangerous, and why financial planning is non-negotiable at every income level.2.The Real Estate Returns Truth Nobody Shows You-Actual 10-year rolling return data from Mumbai, Delhi, and Bengaluru, and why the belief that real estate always beats every other asset class is statistically false.3.The Credit Card Trap Hidden in Plain Sight-Nobel Prize-winning economist Richard Thaler's "Pain of Paying" concept, why cashback points are a mathematical illusion, and the "Pay Now Buy Later" framework that kills the debt spiral.4. The Right Time to Buy Your First Home-Why buying too early is one of the costliest mistakes young Indians make, the EMI-to-income ratio that actually works, and the one factor almost nobody considers in a joint home loan.5. Insurance, SIP vs Lumpsum, and Asset Allocation-Answered Simply-The exact order to buy insurance, the real answer to the SIP-versus-lumpsum debate, and why "100 minus age" is a terrible rule.Don't forget to Like, Share, and Subscribe for more insightful conversations with top achievers and finance experts from across India and the world!#SureshSadagopan #HarshRoongta #LovaaiiNavlakhi #KonversationWithKushal #PersonalFinanceIndia #FinancialPlanningIndia #SIPvsLumpsum #HomeLoanIndia #FeeOnlyFinancialPlanner #YoungInvestors

In this eye-opening episode of Konversation with Kushal, Rama Bijapurkar, India's foremost authority on Consumer India, a McKinsey and Hindustan Unilever veteran, IIM Ahmedabad visiting faculty of 27 years, independent director on the boards of Infosys, Axis Bank, CRISIL and Godrej Consumer Products, and bestselling author of We Are Like That Only and Lilliput Land, delivers the most honest, data-backed breakdown of who the Indian consumer really is that nobody else is showing you. From decoding the real Indian middle class to mapping how 308 million households actually earn and spend, Rama brings four decades of "people view" wisdom that every founder, investor, marketer and young Indian must hear. Whether you are building a startup, trying to understand the Indian economy, or figuring out where the real money in India is, this is the masterclass that will change how you see the market forever.In this episode, you will learn:1. The Real Indian Middle Class Myth-Why "everybody is middle class" is a lie, the four true tests of a genuine middle class (stable income, predictability, 30% surplus, resilience), and why most of India's "middle class" collapses in a crisis.2. Agency vs Structure -The single most powerful framework to understand young India: a generation "fuelled by agency, failed by structure," and the real reason a government job is still the ultimate Indian dream.3. The L1 to L5 India-The full breakdown of India's 308 million households across five income segments, the "Lamborghini Trap," and which segment you should actually build your business for.4. Why MNCs Lose and Small Indians Win-The brutal economics of "100 people earning ₹10 vs 10 people earning ₹100," and why the local chaiwala understands the consumer better than any billion-dollar brand.5. The Sleeping Beauty Middle Class-How the 250–300 million middle class myth was sold to global MNCs in the 1990s, why they over-built capacity, and the costly lesson that India's middle class earns far less than the West's.6. Income vs Consumption- Rama's iconic line "consumption like maternity is a certainty, income like paternity is a matter of opinion," and why India loves to believe it is richer than it really is.Whether you are an aspiring entrepreneur, a curious investor, or a young Indian trying to understand the country you are building your future in, this conversation will give you a completely new lens to see India's people, money and markets.Don't forget to Like, Share, and Subscribe for more insightful conversations with top achievers and finance experts from across India and the world!#RamaBijapurkar #ConsumerIndia #IndianEconomy #KonversationWithKushal #KushalLodha #IndianMiddleClass #LilliputLand #ConsumerBehaviour #IndianMarket #BusinessStrategy #IndiaConsumptionStory #personalfinanceindia #marketresearch #GDPperCapita #startupindia

In this powerful SIP Masterclass episode of Konversation with Kushal, Vijai Mantri, a 35-year mutual fund veteran, CA rank holder, and former CEO of two global AMCs, returns for his second appearance to give you the most honest, data-backed breakdown of SIP investing that nobody is showing you with real numbers.From the founding team of HDFC Mutual Fund to touching 34 lakh+ investors across India, Vijai brings four decades of market wisdom and hard data spanning 1986 to 2026. Whether you are starting your first SIP, scared of a market crash, or chasing a 10 crore corpus, this is the go-to video that will change how you invest forever.In this episode, you will learn:1. Why You Should Never Stop Your SIP in a Crash-The shocking data proving that starting an SIP at the market TOP can actually beat starting at the BOTTOM, and why a 50% crash is the best thing for a long-term investor.2. Does the SIP Date Matter?-30 years of BSE Sensex data revealing whether the 1st,9th,or 28th of the month changes your returns (the answer will surprise you).3. Luckiest vs Unluckiest Investors4. Large Cap vs Mid Cap vs Small Cap- - The real probability data on which category gives you the highest chance of 15%+ returns, and where to actually put your SIP money.5. The Cost of Missing 7 SIP Installments - How skipping just 7 months during the 2008 crash pushes your break-even point back by 3 full years.6. The HDFC Flexi Cap Magic - How a ₹10 NAV became ₹1,800 in 30 years (180x), and why surviving three separate 50% drops was the only way to get there.7. STP vs SIP vs Lumpsum - The exact framework for when to invest one-time, when to do a 6-12 month STP, and what to do in this volatile 2026 market.8. How to Build a 10 Crore Corpus - The precise monthly SIP amounts across small cap, flexi cap, multi asset, and debt funds for 5, 10, 20, and 30-year goals. 9. Sensex vs Gold vs Silver vs PPF - A 40-year study (1986-2026) revealing the true long-term winner and why silver is the most volatile asset of all.10. Why It Is So Hard to Make Money in Stocks - The mind-blowing minute-by-minute data showing markets are positive only 50.17% of the time per minute, but 100% of the time over a decade.Whether you are a beginner starting your SIP journey, a young investor confused about asset allocation, or someone planning long-term wealth, this masterclass will give you the patience and conviction to let compounding do its magic.Don't forget to Like, Share, and Subscribe for more insightful conversations with top achievers and finance experts from across India and the world!#SIP #SIPMasterclass #VijaiMantri #KonversationWithKushal #KushalLodha #MutualFundsSahiHai #PowerOfCompounding #InvestingForBeginners #SmallCapFunds #IndianStockMarket #WealthCreation #personalfinanceindia

In this eye-opening episode of Konversation with Kushal, Kaivalya Vohra-Co-Founder of Zepto and India's youngest billionaire-sits down with Kushal Lodha to give you the most honest, unfiltered breakdown of building a quick commerce empire-the real delivery metrics, the dark store science, the job market reality, and everything in between that nobody tells you.From delivering groceries during the 2021 lockdown to building an instant delivery unicorn that disrupted the massive Indian retail market, Kaivalya brings brutally honest insights and data-backed advice for every startup enthusiast, aspiring founder, and professional in India.In this episode, you will learn:1. The Origin of 10-Minute Delivery-How a 45-minute delivery struggle during the lockdown led to the creation of Kirana Kart and eventually the 10-minute magic of Zepto.2. Dark Store Science-The exact algorithm and real-estate data points used to place dark stores in Mumbai to maximize delivery efficiency and minimize time.3. Delivery Partner Earnings-A full breakdown of how much Zepto delivery partners actually make, with potential earnings reaching up to 40,000 rupees per month.4. The Free Dragon Fruit Scam-A funny, real-world story of how neighborhood kids outsmarted the system by ordering 20-rupee Amul Kool to get premium freebies.5. AI and E-commerce Search-How generative AI and LLMs are revolutionizing customer intent, solving the problem of varied Indian search terms like pen pencil or kapde rakhne ki bag.6. Scaling and Market Size-Why the 3.5 lakh crore Mumbai grocery market proves that quick commerce in India is far from saturation.7. Adding New Brands to Zepto-The exact criteria the category team uses to onboard new D2C brands and why standing out is the only way to get listed.8. Managing Older Employees as a 23-Year-Old-The real dynamic of being India's youngest billionaire and leading a team of highly experienced professionals without ego clashes.9. The Reality of Startup Hustle-A candid look into the 12 to 14-hour work days and the 24/7 reality of running a service business that never sleeps.10. Whether you are a student dreaming of your first startup, a working professional wanting to understand quick commerce, or a brand trying to list on Zepto-this episode will change how you think about business forever.Don't forget to Like, Share, and Subscribe for more insightful conversations with top achievers from across India and the world!#Zepto #QuickCommerce #KaivalyaVohra #KonversationWithKushal #KushalLodha #StartupIndia #IndianStartups #ZeptoDarkStores #EntrepreneurshipIndia #D2CIndia #TechStartups #DeliveryApp #YoungBillionaire #BusinessPodcast #Groww

In this eye-opening episode of Konversation with Kushal, Ashwin Damera - Harvard MBA graduate, CA ranker, and Co-Founder & CEO of Eruditus & Auris - sits down with Kushal Lodha to give you the most honest, unfiltered breakdown of MBA vs studying abroad in 2026 - the ROI, the real costs, the job market reality, and everything in between that nobody tells you.From a Harvard MBA that led to a ₹1 crore loan and a McKenzie offer he rejected, to building India's largest EdTech unicorn worth $3.2 billion, Ashwin brings brutally honest insights and data-backed advice for every student, parent, and professional in India.In this episode, you will learn: 1. Is an MBA still worth it in 2026? - Nikhil Kamath said "If you're 25 and going to an MBA college, you must be some kind of an idiot." Harvard MBA founder answers back with data.2. Full ROI Breakdown - US undergrad costs ₹2.5 crore, UK costs ₹1.2- 1.5 crore, and now foreign universities in India for just ₹30- 60 lakhs - same degree, fraction of the cost.3. Country-wise Study Abroad ROI - US, UK, Canada, Australia, Singapore & Germany compared - visa rejection rates, job market, work permit rules, and payback period explained. 4. Career Capital Formula - Intellectual Capital + Brand Capital + Social Capital = Career Capital. The exact framework Ashwin used to build a unicorn. 5. 3 Skills Every Student Must Learn in 2026 - AI Literacy, Soft Skills & Networking, explained in a way no school in India teaches. 6. How Foreign Universities in India Work - Same curriculum, same degree from home campus, 50% foreign faculty, semester exchange options, and scholarships up to ₹5 lakh. 7. Starting Salary Expectations : ₹15- 30 lakhs in India, ₹60- 72 lakhs if you transfer abroad, full data breakdown by discipline.8. Biomedical Lab in Bangalore, AI Supercomputer in Mumbai - the most exciting facilities coming to India's new foreign university campuses. 9. EdTech Reality Check - Why most EdTechs failed post-2022, and why Eruditus survived at ₹4,500 crore revenue with ₹400 crore EBITDA.10. Whether you're a 12th standard student deciding between India and abroad, a working professional eyeing an MBA, or a parent calculating ROI on your child's future - this episode will change how you think about education forever.1-https://www.delhi.vu.edu.au/2- https://www.abdn.ac.uk/mumbai/3- https://www.iit.edu/mumbai4- https://www.mumbai.bristol.ac.uk/5- https://www.mumbai.york.ac.uk/6- https://www.bengaluru.liverpool.ac.uk/ Don't forget to Like, Share, and Subscribe for more insightful conversations with top achievers from across India and the world!#MBAIndia #ForeignUniversitiesInIndia #StudyAbroadROI #IIMvsAbroad #CATExam2026 #AshwinDamera #Eruditus #KonversationWithKushal #KushalLodha #HarvardMBA #UniversityOfBristolIndia #MBAorNot #HigherEducationIndia #EdTechIndia #UndergraduateAbroad

In this must-watch episode of Konversation with Kushal, real estate expert Vishal Bhargava and Chintan Vasani join Kushal Lodha to share the exact mental models strategies and ground realities of India's most dynamic property market and the bold thesis on why Indian real estate is at a defining inflection point right nowVishal and Chintan draw from years of on-ground reporting developer experience and market cycles to break down what actually drives real estate wealth creation in India and what most investors dangerously get wrongIn this episode you will learn - 1. Why Mumbai's redevelopment boom is unlike anything seen before and what 2000 plus buildings being rebuilt means for property prices and buyers2. The truth about Mumbai micro-markets from Peddar Road to Bandra to Borivali and which pockets still offer real value in 20263. Why affordable housing and luxury segments are moving in completely different directions and how to read those signals4. Proptech and Fintech in real estate how technology is completely reshaping how Indians buy sell and invest in property5. The redevelopment trap what housing society members must know before signing any builder deal and how promoters lure owners with 100 to 150 percent more space promises6. Why Pune Gurgaon and Ahmedabad are emerging as the smartest real estate investment destinations outside Mumbai right now7. Why retail Indian homebuyers are now more informed than ever and how that is shifting power away from developers8. What the next 10 years of Indian urbanisation means for property prices rental yields and long term wealth creation9. The 3 biggest mistakes first-time property investors make and how to avoid them10. How ground-level journalism by Vishal Bhargava has exposed the gap between builder promises and actual delivery in India's housing sector💡 Don't forget to like share and subscribe for more such insightful conversations with top achievers from across the world!#VishalBhargava #ChintanVasani #IndianRealEstate #KushalLodha #KonversationWithKushal #RealEstateIndia #MumbaiRealEstate #PropertyInvestmentIndia #Wisebiz #Proptech #RealEstateTips #HomeBuyingIndia