Real Results.
Real Businesses.
How MNB Research has changed the way Indian businesses run — across manufacturing, retail, healthcare, professional services and logistics. Each study states the problem, what we built, and what changed afterwards, with the numbers the client could verify rather than the ones that flatter us.
Work delivered inside India's largest balance sheets
Advisory, automation and partner-delivered programmes for listed conglomerates, pharma majors, fintech platforms, hospitality groups and state boards — the same rigour now packaged into MNB's AI products.
Paytm
GSK
PVR·The Lalit·Bharat Hotels & Infrastructure
Sona Comstar·Havells
Larsen & Toubro·JMC Projects·NKG Infrastructure·B L Kashyap·Centrodorstroy (India)·Hind Terminals·Gurunanak Engineering Works
DLF·Supertech·MGF·TDI·Piyush Group·YFC Projects·Laxmi Construction·Indu Construction·Odeon Builders·Talware Constructions·Krishna Construction·Thomas Construction Group·Deekay Buildcon·Jagrati Civil Constructions·Zion Promoters & Developers·Emerald Developers·Pebble·Arihant Superstructures
K.R. Mangalam World School·Summer Fields Oxford·Bascom Bridge Education
Kailash Agro·Haryana State Agricultural Marketing Board
Engagements delivered directly and through delivery partners. The case narratives below are published without client names.
Controls, compliance and automation at scale
Listed Payments Platform Tightens Controls Ahead of Regulatory Review
A high-growth payments platform had scaled its merchant base far faster than its control environment. Reconciliation breaks, manual settlement overrides and thin documentation left the finance function exposed ahead of a regulatory and audit cycle.
MNB mapped the end-to-end settlement and merchant-onboarding processes, tested the controls at each hand-off, redesigned maker-checker approvals and exception reporting, and left a documented control matrix the internal team could maintain.
Pharma Major Standardises Compliance Reviews Across Its Distributor Network
A multinational pharma business needed consistent evidence that its Indian distributors and channel partners were following its commercial and compliance policies, with reviews that had been ad hoc, slow and hard to compare across regions.
MNB built a standard review programme: a risk-scored partner universe, a common test procedure, field reviews with structured evidence capture, and a dashboard that let regional management see findings and remediation status in one view.
Multiplex and Hotel Group Plugs Revenue Leakage at the Point of Sale
A national entertainment and hospitality group suspected leakage across box office, food and beverage and banqueting, but its site-level data lived in separate systems and was reviewed only when a problem surfaced.
MNB reconciled point-of-sale, inventory and cash data across sites, ran targeted revenue-assurance reviews on the highest-variance locations, and set up recurring exception reports so that unusual voids, discounts and stock variances reached management automatically.
Construction Partner Delivers Project Controls Across 20+ Developer Sites
Working in partnership with an established construction firm, MNB was asked to bring consistent project-level controls to a portfolio of developer and infrastructure clients where cost reporting, vendor payments and site documentation varied from one project to the next.
MNB designed a common project-controls pack — budget versus actual tracking, vendor payment approvals, measurement-book checks and site documentation standards — and rolled it out with the partner's site teams so that every project reported the same way.
Strategy and growth for owner-led businesses
Regional Yarn Trader Breaks Into Pan-India Distribution
A mid-sized yarn trading firm was operating in only 3 states with stagnant revenue and zero digital presence — relying entirely on word-of-mouth with no scalable go-to-market strategy.
MNB conducted a full market mapping study across 12 textile hubs, redesigned the distribution model, introduced a B2B digital catalogue, and built a direct key-account outreach programme.
Coaching Institute Achieves 45% Enrolment Growth With Digital Strategy
A well-established coaching institute was losing students to online competitors. Physical enrolments were declining 18% YoY despite strong pass rates, with near-zero online visibility.
We ran a competitive positioning study, redesigned the student acquisition funnel, launched targeted digital campaigns, and introduced a hybrid learning model with parent-facing data dashboards.
B2B SaaS Startup Scales ARR by 40% Through Market Repositioning
A Bangalore-based SaaS company had strong product-market fit in one vertical but high churn and no clear expansion strategy. Sales cycles were too long and the ICP was poorly defined.
MNB refined the ICP framework, redefined pricing tiers, introduced a Product-Led Growth (PLG) motion, and built a content-driven demand engine targeting decision-makers in key verticals.
D2C Consumer Brand Grows Revenue 28% by Cracking Tier-2 Markets
A D2C consumer goods brand was metro-focused with high CAC and thin margins. Tier-2 and Tier-3 demand signals were strong but the brand lacked channel strategy and supply chain readiness.
We conducted demand mapping across 25 Tier-2 cities, designed a distributor-first channel playbook, localised messaging, and built regional influencer partnerships to drive awareness at scale.
Investor-Grade Research & Models
Deliverables built to the standard a CFO, fund manager or investment committee expects — each downloadable in full.
Aegis Logistics — Institutional Investment Thesis
A seven-section, interview-grade equity thesis on India's largest private LPG terminal operator — industry sizing, moat, valuation and global peer comparables.
BOT Toll Road — Project Finance Model
A nine-sheet, IB-grade project finance model across the full concession — 1,000+ linked formulas, zero errors, balance sheet tied every year.
AVG Logistics — Three-Statement Model & DCF
A linked three-statement model with a first-principles CAPM / WACC build and DCF valuation; balance sheet reconciles to zero every forecast year.
Aditya Solar Energy — 510 MW IPP Model & DCF
A nine-sheet, IB-grade three-statement model and DCF for a 510 MW contracted solar portfolio — generation build, debt sculpting with DSCR, and a first-principles CAPM WACC.
Ready to Write Your Success Story?
Let's talk about where your business is today and where you want it to be.
Context for these results.
References: NASSCOM AI Adoption Index · EY–NASSCOM AI Adoption Index. Figures carry the year they refer to. Where sources disagree we show both rather than picking quietly.