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Unlocking the Potential with Mangal Analytics and Research Consulting Pvt. Ltd.: The Powerhouse of Exponential Growth

Organizations across various industries are recognizing the importance of analytics and research consulting. These fields have evolved into indispensable tools for decision-making, strategy formulation and competitive advantage.

Analytics involves the process of collecting, processing and analyzing data to extract meaningful insights. It encompasses a wide range of techniques, from descriptive statistics to predictive modeling and machine learning. Research consulting, on the other hand, focuses on providing expert guidance and support throughout the research process, from designing studies to interpreting results.

When analytics and research consulting come together, organizations can unlock even greater potential. This guides the development of analytics strategies, helping organizations identify the most relevant data sources and analysis methods. This collaboration ensures that analytics efforts are aligned with research objectives, maximizing their impact.

Mangal Analytics and Research Consulting Pvt. Ltd. (MARC) represents the brainchild of Ashutosh Kharangate, a venture that took its first steps in August 2010 under the name Mangal Advisory Services, initially operating as a partnership firm. However, its journey took a pivotal turn in 2015 when it expanded its service portfolio and transformed into ‘Mangal Analytics and Research Consulting.’

Since then, the company has solidified its presence in the market, specializing in three core domains: Mergers and Acquisitions, Financial Analytics, and Market Research. In a strategic move in 2021, MARC ventured across borders. It established MARC Glocal Inc. in the USA, bolstering its leadership with the addition of Anita Ganti, a seasoned executive with a distinguished track record at WIPRO and Texas Instruments.

As of the present, MARC boasts a robust network of nine offices strategically situated across India. Its headquarters, situated in the serene environs of Goa, occupies a 2000 sq ft space within the iconic CMM building, nestled along the picturesque Rua de Ourem in Mala, Panaji Goa. In addition to its two Goa offices, MARC has established a significant footprint in cities such as Indore, Ahmedabad, Pune, Mumbai, Kochi, Kolkata and Agartala.

With its unwavering mission to “Reimagine Business Growth,” MARC has swiftly emerged as one of India’s fastest-growing providers of management consulting and business advisory services. What sets the organization apart is its commitment to serving enterprises throughout their lifecycle. The organization aims to be a valuable asset to businesses even before the inception, guiding these establishments through growth phases and continuing to provide support as these companies reach a level of maturity with transition, thereby contributing to overall economic growth.

At the heart of MARC’s approach is the empowerment of small and medium-sized enterprises (SMEs) with the most customized research and analytical solutions. The company understands that every business has its unique challenges and its strategic advice is tailored to help them overcome these obstacles and chart a course towards sustained success.

In essence, MARC is not merely a consultancy firm; it’s a partner in the journey of businesses, a partner guiding them through the complex landscape of mergers, profitability-related intricacies and market dynamics.

MARC envisions a future where businesses, regardless of size or industry, can thrive with confidence, and MARC is dedicated to making that vision a reality.

Setting the Benchmarks

MARC boasts an extensive portfolio of relevant and customized services, all meticulously delivered by a team of seasoned professionals. Its team comprises Chartered Accountants, Strategic Planners, Engineers, Company Secretaries, HR stalwarts, legal experts, and accomplished MBAs. At the core of its service offerings are two major verticals: Transaction Advisory and Management Consulting, each tailored to meet the unique needs of its clients.

Within the Transaction Advisory sphere, the organization provides a comprehensive suite of services that encompasses Mergers and Acquisitions, Project Feasibility Studies, and Profitability Analyses. These services are designed to offer its clients a profound understanding of their business landscape, enabling them to make informed decisions and reimagine their business growth.

MARC’s Project Feasibility Services, for instance, are driven by a commitment to mitigate potential failures. Its dedicated team conducts exhaustive research to scrutinize every facet of a business concept. This includes an in-depth evaluation of projected revenue over the next 3-5 years, coupled with a meticulous assessment of both initial and operational costs. Through this process, the company empowers its clients to gauge profitability and return on investment (ROI) even before embarking on a new venture.

Ahead with the Fundamentals

Financial Analytics is another cornerstone of MARC’s offerings, where the company channels its efforts towards enhancing clients’ profitability. The company meticulously scrutinizes its clients’ financial statements and records, identifying any potential loopholes and recommending strategies for boosting profitability.

Additionally, its expertise extends to crafting Standard Operating Procedures (SOPs) that ensure the seamless functioning of operations. MARC also excels in global financial analytics, boasting a proficiency in constructing intricate financial models for clients spanning diverse sectors. MARC has secured a prominent position in the market as an end-to-end Merger & Acquisition Services provider. In this domain, the company stands as a staunch advocate for SMEs, representing their interests in M&A transactions.

This includes acting as an intermediary when dealing with investors, conducting valuations, overseeing due diligence processes, and providing valuable assistance in drafting agreements and creating investor memorandums. MARC’s holistic approach ensures that our clients are well-guided and well-protected throughout the intricate M&A journey.

Internationalization is yet another area where MARC shines. It empowers businesses to expand their horizons, facilitating their entry into both inbound and outbound markets across international borders.

Drawing on a thorough research methodology, its experts seek out the perfect matches for its client’s products and services in new territories. MARC then recommends the most effective entry strategies, facilitating a seamless transition into previously uncharted territories.

In essence, MARC stands for excellence in the realm of business consultancy, offering a comprehensive array of services that are underpinned by expertise, meticulous research, and a relentless commitment to our clients’ success. Its mission is to guide businesses toward prosperity, leveraging its diverse skill set and industry acumen to help them achieve their goals.

Exploring the Roots

During the first 2 years, Mr. Kharangate worked out of client locations, and business was growing through word of mouth. In 2015, he got his first MNC client when he took on a project from an Italian MNC that wanted to explore the possibility of bringing gynecology and derma products to India.

It was his first project in market research and project feasibility. After a successful submission, two wonderful things came out of it. First, the client was extremely pleased, which gave him tremendous confidence that he could deliver to a well-informed client, and secondly, it gave a new service offering, which is the niche today.

Things just kept excelling for Mr. Kharangate. After that, he, along with his team from a 200 sq. ft. office, transitioned to a 2000 sq. ft. office. The team size increased, and the client base crossed 250+ entities in no time.

Prior to founding MARC, Ashutosh worked in the financial advisory division of PwC, Mumbai. In this stint of 4 years, he worked with several private equities and venture capitalists. During that time, he also worked with several SMEs. This made him understand the vibrant SME sector in India and the issues faced by most SMEs in terms of survival and growth.

Working with Kineco Pvt. Ltd. in Goa was a pivotal moment for him as it ignited a keen interest in the field of financial analysis and inflamed his passion for popularizing Goa in the landscape of Business Advisory, which gave birth to Mangal Analytics and Research Consulting Pvt. Ltd. (MARC). MARC is named after his mother, Mangal, who played a significant role in shaping his life and career.

Rising the Wave, All at a Time

MARC greatly values the profound advantages of the services it provides to its esteemed clients. With a diverse range of services that encompass market research, growth strategy development, mergers and acquisitions (M&A) support, and internationalization, MARC is dedicated to providing a holistic and enriching experience that equips businesses with the tools and insights they need to thrive in today’s dynamic market landscape.

Market Research:

Its dedication to thorough market research lays the groundwork for making well-informed decisions. MARC comprehends that a deep understanding of the market is paramount. To achieve this, the company dives deep into market dynamics, scrutinizing trends, consumer behaviour, competitive forces and emerging opportunities.

This comprehensive engagement empowers its clients with invaluable insights. By knowing their market inside and out, its clients can make strategic decisions that are not only well-informed but also forward-looking. This minimizes risks, enhances their competitive advantage, and positions them for sustainable growth.

Growth Strategy:

MARC’s growth strategy services are crafted to involve its clients in transformative experiences. The company closely collaborates with businesses to gain a profound understanding of their current position and their aspirations. This immersive process includes identifying growth drivers, evaluating market entry points, and formulating actionable strategies.

Through this cohesive engagement with its clients, the company guarantees the provision of a clearly defined growth roadmap. This roadmap is not theoretical; it’s a practical, data-backed plan that empowers them to navigate the complexities of expansion with precision.

Mergers and Acquisitions (M&A):

M&A transactions are intricate undertakings, and its immersive approach sets itself apart from the rest. This offers the clients a comprehensive suite of M&A services, providing end-to-end support. This also includes conducting due diligence with meticulous attention to detail, valuations that are backed by extensive research, expert negotiation guidance, and post-merger integration strategies.

Through deep involvement in these crucial procedures, MARC empowers its clients to approach M&A opportunities with a sense of assurance. They can seize growth prospects while minimizing potential risks, ensuring that their M&A endeavors are successful, synergistic, and value-driven.


Entering global markets is a major strategic step, and MARC’s comprehensive method acknowledges the intricacies it entails. The company is deeply involved with its clients in custom internationalization strategies.

This begins with in-depth market research to identify target markets, followed by the development of market entry strategies that align with our client’s unique objectives. The company also guides them through regulatory landscapes and facilitates new partnerships or acquisitions abroad. Its thorough assistance guarantees that clients can confidently explore global prospects and adjust smoothly to unfamiliar settings.

MARC’s services validate its unwavering commitment to providing clients with comprehensive, data-driven insights and strategic support. The company immerses itself in our clients’ industries, tailoring its services to their specific needs.

This in-depth approach ensures that its clients are not only well-informed but also strategically situated. It equips them to make decisions that drive growth, profitability, and success in an increasingly competitive business landscape. At MARC, “Our goal is to be more than consultants; we are strategic partners in our clients’ journeys towards excellence,” shares Mr. Kharangate.

The Perpetual Facets of Augmentation

Mr. Kharangate says, “We have learned our traits in a small market like Goa, where we face several challenges on account of a severe lack of resources. This has made us develop scientific tools for 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 products at an affordable price; also, we are very flexible and develop deliverables as per clients’ specific needs.

To elaborate on the above, here are some specific examples of how Mr. Kharangate and MARC overcome the challenges of working in a small market:

Developing scientific tools for data capture: MARC developed data capture tools that are specifically tailored to the challenges of working in a micro market.

Obtaining data from primary sources: MARC is also an expert at obtaining data from primary sources. This means that the company is willing to go the extra mile to collect data directly from consumers and businesses. MARC does this through a variety of methods, such as conducting surveys, interviews and through focus groups. This allows the company to get a deeper understanding of the market and to collect data that is not available from other sources.

Delivering high-quality products at an affordable price: MARC understands that clients in small markets are often on tight budgets. That is why the company is committed to delivering high-quality products at an affordable price. It does this by using its proprietary data capture tools and its expertise in obtaining data from primary sources to collect the data that the clients need in a cost-effective manner. The company also works closely with its clients to understand their specific needs and to develop deliverables that meet those needs.

Being flexible and adaptable: MARC is also very flexible and adaptable. The company comprehends that the needs of its clients can change quickly. That is why the company is always willing to adjust its approach to meet the changing needs of its clients. Furthermore, MARC is also willing to work with its clients on a variety of different projects, from small research projects to large-scale consulting projects.

In short, they are a team of experienced and skilled professionals who are committed to delivering high-quality products and services to clients across markets. Mr. Kharangate shares, “We have overcome the challenges of working in a micro market by developing scientific tools of data capture, obtaining data from primary sources and delivering high-quality products at an affordable price while also being flexible and adaptable.”

In addition to the above, we have also developed a strong network of partners in different regions. This network includes businesses, government officials, and community leaders. This network allows us to have access to information and resources that are not available in the public domain. This gives us a significant advantage over our competitors,” he adds.

MARC is also very active in the local community. The company regularly sponsors and participates in community events. This helps in building relationships with potential clients and to raise awareness of its services. “We are confident that our unique skills and experience make us the ideal partner for businesses and organizations that are looking to grow and succeed in a selected market,” expresses Mr. Kharangate.

The Pearls of Excellence

Shedding light through his perspectives, Mr. Kharangate shares, “Entrepreneurship is a marathon. There will be days wherein you will feel super low. Everything will seem like it’s crumbling. Your landlord will serve you a notice to leave the premises, your best employee will resign, taking 3 others along, and your client who gave you 30% of your business will leave. But Never Give Up. Believe in the power and hope of tomorrow. Go slow on a day that seems to have gotten out of hand. But I will keep making progress. Keep your passion alive. Doesn’t matter if you are not an entrepreneur; get up to do things that will make you happy and the world a better place. We only live once.”

He adds, “My advice to aspiring entrepreneurs looking to venture into the consulting solution space is to prioritize a deep understanding of their clients’ needs. Successful consulting is built on the foundation of genuine comprehension, so take the time to listen, ask questions, and immerse yourself in their challenges. Honesty is key; be transparent about what you can and cannot deliver. Don’t hesitate to seek help and collaborate with experts when necessary to ensure you provide optimum value to your clients. In the consulting world, trust and integrity are your greatest assets, so build your reputation on them, and your consultancy will thrive.”

Above and Beyond the Heights of Brilliance

MARC has embarked on a well-defined strategy to extend its presence into Tier 2 and Tier 3 cities throughout India. Over the past 36 months, amidst the challenges posed by the COVID-19 pandemic, MARC has successfully inaugurated nine offices across the nation, significantly broadening our geographical reach.

Its forward-looking plans include fostering collaborations with traditional consulting firms and Chartered Accountancy (CA) firms, aligning with its vision of delivering specialized business advisory services to its clients. Furthermore, MARC currently provides its expertise to esteemed consulting firms across international markets, including the United States, United Kingdom, Hong Kong, Europe, and more. This underpins its commitment to position Goa and India as global hubs for executing intricate analytics, thereby actively supporting the ‘Make in India’ initiative.

In pursuit of its commitment to fostering economic growth, the company is diligently developing its proprietary Fintech product. This innovative solution is designed to empower Micro, Small and Medium Enterprises (MSMEs) with a comprehensive understanding of finance. By equipping MSMEs with the necessary financial insights, MARC aims to facilitate its growth and success in the ever-evolving business landscape.

*A Quest of Inception*

The Words of an Adept Leader

After topping my college with B. Com, I decided to take the Chartered Accountancy exam. I cleared my inter-CA exam on the first attempt and created some sort of a record as I was the only student to have cleared among 231 students appearing in Goa. But when I finally became a CA working under my father, the audit work did not give me joy as I thought it would, so I decided to explore a career in finance. Working for an amazing company in Goa called Kineco, I came across a process called due diligence, which was conducted to ensure that the company invested in did not have major issues which could cause the

investment to go down the drain. This was my eureka moment. I realized that it’s the Big4 that has the best Due Diligence practices and luckily, I was selected at PwC as an Associate – Due Diligence/ Transaction Advisory Services – Mumbai.

I worked with PwC for almost 4 years when situations led me to leave everything and come back to Goa. They say when things don’t go your way, you make a way, and hence, I decided to take an entrepreneurial plunge and incorporated Mangal Analytics & Research Consulting Pvt. Ltd., a due diligence consultancy firm. I knew that there were several first-gen and second-gen entrepreneurs who had tremendous potential to grow and needed good advice on profitability and business strategy, and I could assist them with that.

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