BusinessEntrepreneurship

Konversation with Kushal

Kushal Lodha is a qualified Chartered Accountant who achieved AIR 5 in CA Finals, AIR 5 in CA Inter, and AIR 6 in CA Foundation. Furthermore, he has successfully completed all levels of CFA and ACCA, attaining a World Rank 3 in ACCA.

This podcast caters to the aspiring entrepreneurs of India, offering invaluable insights to kickstart your journey from Zero to One. Additionally, Kushal Lodha is an esteemed part-time content creator, boasting a cumulative following of over 600k+ on social media. He was also honored as LinkedIn's Top Voice for the year 2022.

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31 episodes
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October 21 · 1 hr 47 min
SOIC's Ishmohit Warns: Don't Ignore This Stock Market Signal! | Kushal Lodha #396
Ishmohit Arora of SOIC and Siddhant Bhandari, co-founders of Persistence Capital, join Kushal to break down their N.E.W. framework for spotting stocks at the start of a J-curve. They walk through real case studies like TVS Motors, Welspun Corp, CG Power and TD Power, and explain how their fund is up about 40% in two years while the Nifty went nowhere.What You'll Learn:1-Convex vs Concave: Why you should chase bets and tasks with non-linear upside, not capped returns.2-The Power of NEW: New products, policies, management, customers and supply-demand gaps that make earnings explode.3-The Train A, B, C Model: Why waiting in a "hope" train is dead money and how to board Train B or C at the right speed.4-Sector Beats Stock: Why around 80% of a stock's move comes from its industry, and how healthcare had a 63% win rate in a falling market.5-Habits That Find Winners: Reading concalls, Saturday corporate announcements, management interviews, and even counting "congrats" on calls. #KonversationWithKushal #IshmohitArora #SOIC #PersistenceCapital #KushalLodha #StockMarketIndia #MultibaggerStocks #ThematicInvesting #CatalystInvesting #ShareMarket
October 21 · 1 hr 12 min
This Sector Could Crash 25%! Investment Banker Warns Investors | Kushal Lodha #395
N Jayakumar, MD and Group CEO of Prime Securities, joins Kushal for an investment banking masterclass drawn from a 41 year career. What You'll Learn:1-How Investment Banking Works: Equity, debt, fee ranges and why matching assets and liabilities by duration matters.2-Operating Leverage Explained: Why companies with low capacity utilisation and falling debt can give outsized returns.3-Sector Views: Bullish on domestic manufacturing and defence, bearish on IT and solar, wait and watch on commodities.#KonversationWithKushal #NJayakumar #PrimeSecurities #InvestmentBanking #StockMarketIndia #OperatingLeverage #CareerInFinance #IPOIndia #KushalLodha #InvestingForBeginners
October 21 · 1 hr 15 min
₹22,000 Crore Fund Manager: Are Small Caps Too Expensive Now? | Kushal Lodha #394
Vikas Khemani, Founder of Carnelian Asset Management, joins Kushal to explain why small caps are a hunting ground for superior wealth creation, not just a risk. He backs it with data on small cap profit growth, case studies like Sun Pharma, Bajaj Finance, Reliance and Airtel vs Vodafone Idea, and his view on the current global noise.What You'll Learn:1-Small Caps as Opportunity: Why 196 small caps grew profits 10x in 10 years versus only 8 large caps.2-Quality Over Cap Size: How he judges management on ability, intent and hunger before looking at the business.3-Rerating and Derating: Why great companies like HDFC Bank can still deliver zero returns when valuations shrink.4-Rate of Change: How to spot positive change early with Reliance's capex cycle and the Jio shake-up as examples.5-Crisis vs 2008: Why India's balance sheets are stronger today and why he sees India becoming its own asset class. #KonversationWithKushal #VikasKhemani #Carnelian #SmallCapInvesting #StockMarketIndia #Rerating #Derating #WealthCreation #KushalLodha #ShareMarket
October 21 · 1 hr 16 min
This 23-Year-Old Investor Looks for Stocks That Analysts Ignore! | Kushal Lodha #393
Ameya Deosthali, the 23 year old independent investor behind Value Equity, joins Kushal to break down how he finds stocks at peak pessimism and rides the turn. He walks through real case studies like Laurus Labs, Apollo Pipes, Coforge, Sansera Engineering and Dynamatic Technologies.What You'll Learn:1-The Pessimism Rate of Change Tracker: How to spot sectors in deep pain through low multiples, bad commentary and 20 minute concalls.2-Bullish Management, Skeptical Analysts: The early recovery signal that took Apollo Pipes 2.5x before the pipe cycle even started.3-The Trajectory Pivot Framework: How Laurus Labs' shift from ARV drugs to CDMO turned it into a 6x in three years.4-Capability Built Through Grit: Why he read 20 years of Dynamatic annual reports to understand its journey to Tier 1 Airbus supplier. #KonversationWithKushal #ValueEquity #CyclicalInvesting #LaurusLabs #StockMarketIndia #ValueInvesting #MultibaggerStocks #ShareMarket #KushalLodha
October 21 · 1 hr 22 min
He Found 45+ Multibagger Stocks! Here's How He Finds Them Early | Kushal Lodha #392
Most investors chase low PE stocks. Amitabh Vatsya, founder of Sadhan, does the opposite. He has identified 45+ multibaggers. In this episode he walks through real case studies of how he finds them.What You’ll Learn1- Talk To The Customer: How supplier and customer calls helped him spot Krishca and Shivalik Bimetal early.2- Capability Over Capacity: Why a bigger plant does not mean a better business.3- Proprietary Assets: How Zen Technologies and PTC Industries showed their moats before the numbers did.4- Why High PE Can Work: The thinking behind buying a 239 PE stock.5- Mistakes And Red Flags: Why trimming winners hurt him, and which management traits he avoids.#KonversationWithKushal #AmitabhVatsya #Sadhan #MultibaggerStocks #SmallCapInvesting #MicroCapStocks #HighPEStocks #ContrarianInvesting #StockMarketIndia #InvestingPodcast
October 21 · 1 hr 40 min
20 Stocks. 30%+ CAGR. His Exact Portfolio Strategy Explained! | Kushal Lodha #391
Why do the biggest investors make most of their money in B2C businesses? Ankush Agrawal, SEBI Registered Research Analyst and founder of Surge Capital, shares his stock picking framework with real case studies.What You'll Learn1. Resilient vs Non-Linear: How he splits his portfolio between safe compounders and high-risk bets.2. B2C vs B2B: Why B2C businesses compound with fewer growth shocks.3. Case Studies: Bajaj Finance, Eternal, Saregama vs Tips and more.#KonversationWithKushal #AnkushAgrawal #SurgeCapital #StockMarketIndia #StockPicking #B2CStocks #InvestingFramework #ValueInvesting #IndianStockMarket #WealthCreation
October 21 · 1 hr 8 min
How This IPO Banker Built a ₹100 Crore Business in 5 Years | Kushal Lodha #390
Parth Shah, Founder & Director of Smart Horizon Capital Advisors, joins Kushal for a masterclass on merchant banking and SME IPOs. He has listed 80 companies, raised around ₹3,000 crore for them, and built a 50 member firm doing ₹100 crore+ in revenue. He walks through real deals he took on, the ones he walked away from, and why the price you list at decides everything.What You'll Learn:1-Merchant Banking Explained: What a merchant banker actually does, from due diligence to the offer document to listing day.2-Pricing the IPO Right: Why an SME should list well below the sector leader's PE, and why 10x to 20x is the realistic range.3-His Deal Checklist: Positive operating cash flow in 2 of 3 years, 20% growth and at least ₹5 crore profit.4-Red Flags That Kill Deals: A debt default and a promoter demanding 35x, two deals he walked away from.5-Stop Chasing GMP: Why grey market premium is just hype and how to judge an IPO instead.#KonversationWithKushal #SmartHorizonCapital #MerchantBanking #SMEIPO #IPOIndia #IPOValuation #GreyMarketPremium #InvestmentBanking #StockMarketIndia #KushalLodha
October 21 · 1 hr 16 min
Christopher Wood’s Warning for Indian Investors: AI, IT Stocks & Small Caps | Kushal Lodha #389
Christopher Wood, Global Head of Equity Strategy at Jefferies and the author of GREED & fear for 30 years, joins Kushal to explain why he believes AI is the real bubble today. He also breaks down why foreign investors left India, why he prefers Brazilian bonds to US Treasuries, and how gold could reach $10,000.What You'll Learn:1-The AI Capex Arms Race: Why he compares the AI boom to the 19th century railroad bubble, and why the hyperscalers could destroy capital.2-Why Foreigners Sold India: How TSMC, Samsung and SK Hynix now make up about 30% of the emerging market index.3-The $10,000 Gold Case: How US yield curve control could weaken the dollar, and why he is comfortable with 20% in gold.4-Brazil Govt Bonds Over US Treasuries: Why the 10-year yield matters more than the Fed, and why 5% does not pay for the risk.5-India Is a Bottom-Up Market: Why stock picking beats the index, with his views on banks, NBFCs, power, Real Estate and Quick Commerce (Eternal).#KonversationWithKushal #ChristopherWood #GreedAndFear #Jefferies #AIBubble #StockMarketIndia #GoldInvesting #GlobalMacro #KushalLodha #ShareMarket
October 21 · 1 hr 19 min
He Managed ₹20,000 Crores, Here's His Stock Picking SECRET | Kushal Lodha #388
Manish Sonthalia has 30+ years of experience in the Indian stock market. He spent 19.5 years at Motilal Oswal and is now Director & CIO at Emkay Investment Managers, the Asset Management arm of Emkay Global. In this episode, he breaks down his proprietary EQUAL framework, the red flags he uses to reject a stock, and the price discipline behind his multibaggers. If you want to pick stocks with a system instead of tips, watch till the end.What You'll Learn1-The EQUAL Framework: How he scores business quality and management integrity before buying any stock2-Red Flags To Avoid: Promoter pledging, related party deals, royalty payments and unhedged foreign debt3-Growth Over Cheap Value: Why he says value is a trap and wants profits to double in 3 to 4 years4-Purchase Price Discipline: Why he buys at a PEG of 1 to 2 and avoids anything above 35-When To Sell: The only reasons he exits a stock, and why his portfolio churn stays so low#KonversationWithKushal #ManishSonthalia #StockMarketIndia #EqualFramework #RedFlagsInStocks #GrowthInvesting #StockPicking #InvestingIndia
October 21 · 1 hr 26 min
The Dividend Strategy That Gave Him 22% CAGR For 35 Years | Kushal Lodha #387
In this episode of Konversation with Kushal, Dhiraj Dave, a full-time investor, shares the rare dividend-first investing philosophy that has compounded his portfolio at 22% CAGR for over three decades.Here's what you'll learn:1-Cash Flow is Truth: Why he trusts dividends over profit and calls cash flow the only "reality" in investing.2-The Financial Moksha Formula: How dividends covering 120% of your expenses means you never touch your capital again.3-The Debt Free Rule: Why an "Antifragile" portfolio avoids companies carrying high debt, whatever the growth story.4-Real Stock Case Studies: From a TV18 mistake to multibagger bets like Shivalik Bimetal, VST Tillers and SRF.5-REITs and InvITs Explained: How to earn steady, tax efficient income beyond the stock market.#KonversationWithKushal #DhirajDave #DividendInvesting #ValueInvesting #StockMarketIndia #REITvsInvIT #PassiveIncome #WealthCreation #KushalLodha #financialfreedom
October 21 · 1 hr 23 min
How He Finds 30-40X Stocks: The Investing Strategy That Actually Works | Kushal Lodha #386
Abhishek Basumallick, Founder of Intelsense, joins Kushal to break down how he picks stocks. He walks through real case studies like PG Electroplast, Supreme Industries and HBL Engineering, and explains why price is always the final judge.What You'll Learn:1-The 4 Step Process: Define your universe, pick the stock, size it, and know when to exit.2-Buying After 40x: Why PG Electroplast gave him 6x more after a huge run.3-Never Average Down: Why he only adds to a stock when the price is rising.4-Growth Beats Cheap: Why great compounders are almost never available at dirt cheap valuations.5-The Momentum Screen: A simple rule to rank stocks on their last six months of returns.#KonversationWithKushal #AbhishekBasumallick #Intelsense #StockMarketIndia #MomentumInvesting #MultibaggerStocks #InvestingForBeginners #ShareMarket #StockMarketForBeginners #KushalLodha
September 29 · 1 hr 41 min
Warren Buffett’s Real Investing Strategy (It’s NOT Buy & Hold) | Kushal Lodha #385
Ramneek Kundra returns to Konversation with Kushal for a deep dive into the investing philosophy of Warren Buffett and Charlie Munger. Having read every Berkshire shareholder letters and books on Buffett, he breaks down the real story behind buy and hold philosophy, See's Candies, GEICO and Coca-Cola in the simplest language possible.What You'll Learn:1-The Buy And Hold Myth: Why Buffett actually traded over 800 companies.2-The Coca-Cola Mistake: Why he says he should have sold Coke in 1999.3-GEICO Twice: Why he sold at 20 and bought back after a 97% crash.4-See's Candies Magic: How 25 million dollars turned into 1.9 billion in cash.5-The One Rule: The cheapness discipline Buffett never abandoned.⁠ #KonversationWithKushal⁠ ⁠#WarrenBuffett⁠ ⁠#CharlieMunger⁠ ⁠#BerkshireHathaway⁠ ⁠#ValueInvesting⁠ ⁠#StockMarketIndia⁠ ⁠#InvestingForBeginners⁠ ⁠#ShareMarket⁠ ⁠#CompoundingWealth⁠ ⁠#KushalLodha⁠
September 29 · 1 hr 26 min
The Dividend Strategy That Gave Him 22% CAGR For 35 Years | Kushal Lodha #387
In this episode of Konversation with Kushal, Dhiraj Dave, a full-time investor, shares the rare dividend-first investing philosophy that has compounded his portfolio at 22% CAGR for over three decades.Here's what you'll learn:1-Cash Flow is Truth: Why he trusts dividends over profit and calls cash flow the only "reality" in investing.2-The Financial Moksha Formula: How dividends covering 120% of your expenses means you never touch your capital again.3-The Debt Free Rule: Why an "Antifragile" portfolio avoids companies carrying high debt, whatever the growth story.4-Real Stock Case Studies: From a TV18 mistake to multibagger bets like Shivalik Bimetal, VST Tillers and SRF.5-REITs and InvITs Explained: How to earn steady, tax efficient income beyond the stock market. #KonversationWithKushal #DhirajDave #DividendInvesting #ValueInvesting #StockMarketIndia #REITvsInvIT #PassiveIncome #WealthCreation #KushalLodha #financialfreedom
September 29 · 1 hr 23 min
How He Finds 30-40X Stocks: The Investing Strategy That Actually Works | Kushal Lodha #386
Abhishek Basumallick, Founder of Intelsense, joins Kushal to break down how he picks stocks. He walks through real case studies like PG Electroplast, Supreme Industries and HBL Engineering, and explains why price is always the final judge.What You'll Learn:1-The 4 Step Process: Define your universe, pick the stock, size it, and know when to exit.2-Buying After 40x: Why PG Electroplast gave him 6x more after a huge run.3-Never Average Down: Why he only adds to a stock when the price is rising.4-Growth Beats Cheap: Why great compounders are almost never available at dirt cheap valuations.5-The Momentum Screen: A simple rule to rank stocks on their last six months of returns. #KonversationWithKushal #AbhishekBasumallick #Intelsense #StockMarketIndia #MomentumInvesting #MultibaggerStocks #InvestingForBeginners #ShareMarket #StockMarketForBeginners #KushalLodha
September 29 · 1 hr 30 min
He Built a ₹69 Crore Mutual Fund Portfolio. Here’s His Financial Freedom Plan | Kushal Lodha #384
Gajendra Kothari, a wealth manager and AMFI registered mutual fund distributor who has built a 69 crore mutual fund corpus, joins Kushal to break down financial freedom the practical way. He shares exactly how much you need to retire at every age and in every kind of city, and why chasing 100 crore is the wrong goal.What You'll Learn:1-Your Real FF Number: Why 100 crore is a myth and your number is personal.2-The 4% Car Truth: Why most people die rich instead of living rich.3-Retire By City Tier: The corpus you need in a Tier 1 town vs a Tier 4 town.4-Power Of SWP: The most tax efficient passive income nobody talks about.5-One Plan, All Goals: How a couple funds car, house, child and retirement together. #KonversationWithKushal #GajendraKothari #FinancialFreedom #RetirementPlanning #SWP #MutualFundsIndia #PersonalFinance #InvestingForBeginners #ShareMarket #KushalLodha
September 29 · 1 hr 32 min
You Are Valuing Bank Stocks All Wrong | Finance Masterclass | Kushal Lodha #383
Rajeev Agrawal, Fund Manager and Managing Partner at DoorDarshi India Fund, joins Kushal for the channel's first deep dive purely on the financial services industry. Investing in Indian equities from the US, he decodes exactly how he values banks and NBFCs, using live case studies with real entry and exit prices.What You'll Learn:1- Valuing A Lender: Why management trust matters 10x more in a financial company.2- The IIFL 480% Story: A stock that survived COVID and an RBI gold loan ban.3- Too Early Is Wrong: The J&K Bank mistake and why asset quality only lags.4- Heads I Win, Tails I Don't Lose: How he plays holdco discounts and special situations.5- A Job From Warren Buffett: The Berkshire AGM question that got him an offer.#KonversationWithKushal #RajeevAgrawal #DoorDarshi #NBFCStocks #BankingStocks #IIFLFinance #ValueInvesting #StockMarketIndia #ShareMarket #KushalLodha
September 17 · 1 hr 3 min
Why You’re Not Making Money in Indian Stocks Right Now | Kushal Lodha #382
In this episode of Konversation with Kushal, Sunil Subramaniam, former MD & CEO of Sundaram Mutual Fund with 30+ years of experience, breaks down why India's market isn't rising despite being the world's fastest-growing economy.Here's what you'll learn:1-India as a stock: How FIIs value the whole country by discounting future GDP.2-Strong GDP, flat market: Why good growth triggers rate-hike fears and hits autos & banks.3-Why FIIs prefer Taiwan & Korea: AI firms growing 40-60% make India look boring.4-Interest Rate Parity: The currency math keeping foreign money out of India.5-PMI decoded: The one indicator that predicts the economy 3 months ahead.#sunilsubramaniam #fiiflows #stockmarketindia #niftyanalysis #crudeoil #smallcapstocks #konversationwithkushal #kushallodha
September 17 · 1 hr 35 min
Is the Indian Market Still Too Expensive? | Kushal Lodha #381
Sahil Kapoor, Head of Products and Market Strategist at DSP Mutual Fund, joins Kushal to break down how he values stocks, markets, gold and silver. He shares the frameworks from his DSP Netra reports in the simplest language possible.What You'll Learn:1-The Infosys Test: How to check if a business actually creates value.2-Margin Of Safety: Why a boring bank can beat a hot stock.3-The 25% Myth: Why chasing high returns quietly loses you money.4-Large Caps Are Cheap: Why foreign investors have given up on them.5-Value Gold & Silver yourself: The simple math to price gold and silver.#KonversationWithKushal #SahilKapoor #DSPMutualFund #StockMarketIndia #GoldInvesting #NiftyValuation #InvestingForBeginners #ShareMarket #StockMarketForBeginners #KushalLodha
September 17 · 1 hr 42 min
Small Caps Are at 180% Premium - Is a Big Correction Coming? | Kushal Lodha #380
Ravi Jain, CFA Co-founder & MD of Blostem and a small cap investor for 19 years, joins Kushal to break down how he compounded at over 40% CAGR. He walks through the stock that gave him 30x in two years, the frameworks he uses to read market cycles, and where he is bullish in August 2026.What You'll Learn:1-The 30x Stock: How one half yearly result led him to a 50x company.2-Small Cap Warning: Why a 180% premium is flashing red right now.3-Buy The Panic: How forced selling in spin offs creates free money.4-When To Sell: Why he exited at 30x and let the rest go.5-The Bull Run Leader: The one trend he says will make the big money.#KonversationWithKushal #RaviJain #Blostem #SmallCapStocks #MultibaggerStocks #StockMarketIndia #InvestingForBeginners #ShareMarket #StockMarketForBeginners #KushalLodha
September 15 · 2 hr 3 min
Don’t Invest In These Stocks In 2026 | Kushal Lodha #379
Sridhar Sivaram, Investment Director at Enam Holdings, joins Kushal for a deep dive into markets, sectors, and gold. He shares how he reads a balance sheet, where he is bullish today, and why he stays away from some of the most popular sectors.What You'll Learn:1-Gold's Real Story: Why gold has beaten the stock market for 20 years.2-The Bank Shift: Why private banks are losing ground to PSU banks.3-Insurance Warning: The savings policy he says you should avoid.4-Where He Is Bullish: The sectors he is backing right now.5-A Bird To A Stock: How one photography trip became an investment. #KonversationWithKushal #SridharSivaram #EnamHoldings #StockMarketIndia #GoldInvesting #PSUBanks #InvestingForBeginners #ShareMarket #StockMarketForBeginners #KushalLodha

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