Research Analyst at JM Financial
Jainil Shah is an Equity Analyst at JM Financial Institutional Securities Ltd., specializing in equity research across sectors such as healthcare, technology, financial services, consumer, and business services. He has covered companies like Global Health (Medanta) and Biocon, producing financial projections and sector insights as reflected in publicly available research and earnings calls. Jainil began his career after graduating from H.R. College of Commerce & Economics in 2019 and has professional experience at Bain & Company, KPMG in M&A advisory, and Deloitte before joining JM Financial in August 2021. He holds a Chartered Accountant credential (rankholder) and a Bachelor of Commerce from Gujarat University.
Jainil Shah of JM Financial asked for clarification on the Nicotine Replacement Therapy (NRT) acquisition, specifically why the gross assets were reported as high as GBP 413 million and whether a large portion of this would be goodwill.
CEO Erez Israeli stated he had not seen the seller's balance sheet but assumed the high value was mostly related to intangible assets.