Private Company Due Diligence: Field-to-Analysis Research at INDUSS
Collected five years of private financial data through field visits and built full financial analysis for acquisition decisions
Nisha Alphonse Raj
Analyst at INDUSS (Indus Strategy Financial Advisors )
From their time as
Junior Business and Financial Analyst
INDUSS (Indus Strategy Financial Advisors ) • 2024 - 2024
Overview
Nisha's core work at INDUSS involved researching private companies that were not covered by any public database. Because these were small, unlisted businesses, five years of audited financial reports were not available online. **The only way to get the data was to go and collect it directly.**
The Story
Nisha's core work at INDUSS involved researching private companies that were not covered by any public database. Because these were small, unlisted businesses, five years of audited financial reports were not available online. The only way to get the data was to go and collect it directly.
She and her team would visit the company, meet with management face-to-face, and collect audited reports and operational data on-site. This field-based approach was the foundation of every analysis that followed.
Back at the office, she built the analysis from the ground up. She worked through income statements, cash flow statements, and balance sheets, calibrating her approach to the company type: for manufacturing businesses, she focused on operating profit and margin structure; for service businesses, she tracked net profit and cost discipline. She ran ratio analysis across debt-to-equity, gross profit, and current ratio to give investors a clear picture of financial health and operational stability.
The output was a client-ready PPT that translated the raw financial data into a clear buy-or-pass recommendation. Over her year at INDUSS, she completed ten to fifteen projects of this type, covering industries including fasteners, green hydrogen, container freight stations, and robotics-based cleaning.