In discussion with Incubees is Ashutosh Kharangate, 36, Managing Director of Mangal Analytics & Research Consulting Pvt Ltd (MARC) incorporated in 2015. MARC specialises in financial analytics and market research. After his last job with PricewaterhouseCoopers, Ashutosh realised that he had a passion of doing something headquartered in Goa and make a name for Goa into business advisory.
INCUBEES: Tell us about your product or services?
ASHUTOSH KHARANGATE: Under Project Feasibility Services we give our effort to reduce failures, MARC’s team conducts a thorough research on the new business or expansion proposed by the startup or company. This research entails making an assessment of revenue one can generate over a period of next 3-5 years. It also includes detailed assessment of costs, both initial and operational. Hence, it becomes easy to gauge profitability and ROI. It enables us to give informed advice to entrepreneurs if they should venture into their thought about business and also guide them on the challenges and nuances of the business.
Similarly under Financial Analytics, efforts are invested to aid businesses achieve more profitability. The client’s financial statements and other records are assessed to identify loopholes and suggest ways and means of improving profitability. MARC also specializes in developing Standard Operating Procedures (SOPs) which enable protection against income leakages while ensuring smooth operations.
Mergers and Acquisitions – MARC provides end to end Merger & Acquisition Services provider. This includes investor presentation, valuations, due diligence and legal agreements. MARC’s outstanding team brings a proven finesse with it for preparing the right documents for its clients and obtaining the right valuation; and also providing legal support towards ensuring that clauses affecting the financial interest of the client are well protected. Due diligence is our core forte and we are hired across the country to execute challenging assignments.
Internationalization – MARC empowersbusinesses find and explore inbound and outbound markets across borders. Depending on the product / service, MARC’s counterparts look for the right match after a thorough research and also suggest the best entry strategy.
Complete sales solution – MARC has recently ventured into providing a 360 degree sales solution to companies. This service is targeted to help companies improve their top line in these tough times and beyond. The offerings here comprise both online and offline media handling to enable higher sales.
INCUBEES: What makes your product, services unique and what competition do you see in India and globally?
ASHUTOSH KHARANGATE: What sets MARC apart from others and enables it to lead the market, is the fact that MARC has learnt its traits in a small market like Goa, where there are several challenges on account of severe lack of resources. This has made us develop scientific tools of data capture. We also bend our backs to obtain data from primary sources. Hence our findings and submissions as compared to actual results have minimum variations. Having been associated with one of the Big 4s also ensures top notch quality of the deliverable. Our team has been trained to deliver high quality product at an affordable price; also, we are very flexible and develop deliverables as per clients’ specific needs.
In recent times we have expanded to six other locations of the country. We are now a pan India company and hence now we face competition from mid-sized consultancy firms and boutique advisory firms. However, our strategy is of collaboration. We work together with such firms whenever there are synergies for the betterment of the client.
INCUBEES: What are the challenges you see in the market at this point of time?
ASHUTOSH KHARANGATE: With Covid-19 dynamics of the market have undergone a change. Businesses are suffering, budgets are getting tighter. Clients will now expect an involved approach and further handholding from advisors like us. In addition they shall be looking for someone to help them negotiate these tough times. All this, at an affordable price. I truly believe this period shall separate ‘the Men from the boys’. We have made a drastic change in our offerings to be of help where it matters most for the client. We are now focusing on helping clients gain sales. We are looking to become a 360 degree sales solution provider. In addition we are focusing on bringing in systems and processes in the company to enable efficiencies.
INCUBEES: Tell us about your team and what inspires them?
ASHUTOSH KHARANGATE: As an owner, I was immensely inspired by the story of two salesmen who were sent to a remote location in order to assess the market of the shoe making company they were working for. On observing the scenario and the lifestyle, one of them thought that there was no possibility whereas the other person noticed the potential and grasped the opportunity of the untapped market. This is the attitude which has been inculcated in MARCs team. We love challenges. We are a mad and young team. We love when the client cannot define his problem. It enables us to step into their shoes and find and address their pain points.
INCUBEES: Where do you see your company reaching in the next five-years?
ASHUTOSH KHARANGATE: MARC is following a clear roadmap for expanding its footprints in the Tier 2 and Tier 3 across the country. Over last few months we have opened offices in Mumbai, Ahmedabad, Agartala, Indore, Kochiand and Kolkata. We are collaborating with other traditional consulting firms and provide their clients with niche business advisory support. MARC is keen on making Goa and India the hub of execution of complex analytics for the world. We are serving as a part of an international network to achieve the same. We are working with firms and independent advisors cross the globe to find solutions to their complex financial issues from our office. This will enable us to support ‘Make in India’.
INCUBEES: Do you have plans to raise funding to grow your business or allow your business to organically grow?
ASHUTOSH KHARANGATE: While as a company we are looking to grow organically, we may consider raising funds for some of our associated ventures. We are very excited about it and are looking for like-minded partners.
INCUBEES: What are the challenges you face as a startup?
ASHUTOSH KHARANGATE: I believe the biggest challenge for a startup is creating a brand. Brand is created when trust is formed among stakeholders. MARC has been rigorously striving to achieve the same. The other issue is the challenges in scaling up. Access to newer markets and clients is a mountain to climb for startups. We have been continuously looking at never avenues of growth.
INCUBEES: How are you raising your revenue and resources?
ASHUTOSH KHARANGATE: So far we have not raised any capital. We have a CC for our operations. If in future we need to raise capital we shall approach our stakeholders and well wishers to start with. In case we want capital to scale up we shall approach VCs who have previous investments, experience in our industry.