About Company
Tamohara Investment Managers Pvt Ltd
Tamohara Investment Managers is a Mumbai-based, SEBI-registered, platform-neutral investment management firm. We manage and advise multi-asset portfolios and invest in benchmark and market cap-agnostic equity and multi-asset portfolios. Our expertise lies in selecting good firms that will produce better long-term returns, helped by our unrivaled research approach.Our staff has been focusing on multiplying the wealth of our investors since 2015. Individual investors, institutions, financial product advisors, family offices, and overseas investors are among the clients we work with. In addition, we collaborate with financial product experts to develop custom co-branded solutions.
Core Investment Philosophy
Tamohara’s framework centers on five key pillars of business evaluation:
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Cash Flow Focus: They prioritize businesses that demonstrate superior or increasing free cash flow generation. They view "growth" as a function of a company's capacity to reinvest its capital and the returns ($ROIC$) produced on that capital.
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Business & Management Quality: They seek high-quality businesses with proven models and leadership positions. Crucially, they evaluate whether management is likely to allow minority shareholders to benefit from the generated cash flows.
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Rate of Change: The team looks for positive triggers, including:
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Market share gains.
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Improving Return on Equity ($ROE$).
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Declining leverage (debt reduction).
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Valuation Discipline: Investments are made based on the "base case" future cash flows to determine a fair entry price today.
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Pre-Mortem Analysis: A distinct part of their process involves identifying idiosyncratic factors that could negatively impact their assumed future cash flow projections before making the investment.
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Sheetal Malpani
Sheetal Malpani is a seasoned investment professional with over 15 years of experience in equity research and portfolio management. Before joining Tamohara, she served as an analyst at Equirus Securities, where she gained significant expertise in mid-cap and small-cap research. She is a Chartered Accountant and a CFA charterholder, known for her rigorous bottom-up approach to stock selection. At Tamohara, she plays a critical role in managing the TLES (Tamohara Long-Term Equity Strategy), focusing on identifying companies with scalable business models and high governance standards.
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