About the publication and the author
About Manish Goel
Manish Goel is a Fellow Chartered Accountant (ICAI, 2005 — rank holder), the founder of Multibagger® Securities Research & Advisory Pvt. Ltd. in India, and the publisher of The NorthPath Letter from Tallinn, Estonia. Twenty-two years inside global capital markets, with particular depth in Indian listed equity, — first as a corporate-finance professional, then as one of the country’s most-followed small-cap value investors — have produced the perspective this publication is built on.
Career
Manish qualified as a Chartered Accountant from the Institute of Chartered Accountants of India in 2005, as a rank holder, and is now a Fellow of the Institute (FCA). His first decade in finance was spent in corporate roles — including four years as a Finance Manager at a leading multinational — before he left the salaried track in 2009 to write and invest full-time. He had been buying Indian equities for his own account since 2002, and by the time he founded Multibagger Securities, he had already lived through one complete cycle of Indian small-cap booms and busts.
The Indian business, Multibagger® Securities Research & Advisory Pvt. Ltd., is a SEBI-Registered Investment Adviser (Reg. No. INA100007736) serving Indian-resident clients. The NorthPath Letter — published independently from Estonia — is the global English-language extension of that body of work: editorial, educational, and explicitly not investment advice.
Recognition
- MULTIBAGGER® — registered trademark of the Government of India. Manish was granted exclusive rights to use the word Multibagger in connection with stock-market research and advisory services in India — a rare distinction that recognised both the originality of the term in his work and the public association of his name with it.
- Economic Times Industry Leaders Award, 2020. Awarded by India’s largest English business newspaper for sustained contribution to the equity-research industry.
- Featured in 15+ Indian and international business publications — Forbes, The Economic Times, The Times of India, Moneycontrol (CNBC TV18), Business Standard, Mint Markets, ABP Live, The Knowledge Review, Insights Success, Business Shouts, The Enterprise World, The Business Fame, CIOLOOK India, BrilliantRead, IssueWire and Bhopal Samachar. See the full archive.
- “India’s emerging Warren Buffett.” Framing used by ABP Live in their feature on his career arc from corporate finance to full-time value investing.
Media features and Indian-platform commercial performance figures relate to Manish’s separately operated SEBI-regulated business, Multibagger Securities Research & Advisory Pvt. Ltd. They are reproduced on this page as background on the author’s professional standing. The NorthPath Letter is editorial and educational in nature, and does not advertise specific past returns as inducement to subscribe.
What the Letter publishes
One long-form analytical essay every morning, seven days a week. Each issue typically runs 2,500–4,500 words on a single substantive theme — corporate strategy and business-model dissection; structural shifts in major industries (financial services, pharma, IT, FMCG, infrastructure); accounting and disclosure quirks that matter for capital allocation; and comparative reads of Indian listed companies against global emerging-market peers. We do not publish stock tips, target prices, model portfolios, or sponsored content. We publish journalism and education for capital-market professionals.
Who the Letter writes for
- Institutional investors covering emerging markets who want one clear, contextual read of Indian developments without the noise of local financial media
- Family offices allocating to India who need to understand structural shape rather than chase tactical opportunities
- Equity-research professionals at global asset managers who use the Letter as primary-source context for their own work
- Serious individual investors with capital-market literacy who treat allocation as a long-game discipline
Regulatory standing
NorthPath Advisory OÜ — the Estonian publisher of this site — is not a MiFID II-authorised investment firm. It does not provide personalised investment advice, portfolio management, or reception-and-transmission of orders. The NorthPath Letter is a publication and educational service distributed for a general professional readership. Where individual securities are discussed in any essay, the author’s position is disclosed in the relevant essay in line with Regulation (EU) No 596/2014 (Market Abuse Regulation), Article 20.
The author’s separately operated Indian platform — Multibagger® Securities Research & Advisory Pvt. Ltd., SEBI Reg. No. INA100007736 — is a regulated investment-advisory practice serving Indian-resident clients with stock-specific research. The two operations are independent in regulation, audience, and content. Nothing on this EU site cross-references stock calls from the Indian platform.
Contact
Press enquiries, institutional subscriptions, partnership conversations: info@northpathadvisory.eu. Registered office: Tallinn, Estonia.