Sarthak Kawale

Chartered Accountant  ·  Jan '26

Investment Banking | Deal Advisory & Valuation Professional

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Finance.
First principles.

Focused on transaction advisory and valuation, with 3 years of experience supporting M&A and capital raising mandates during CA articleship at Acumen M&A Advisors, the India affiliate of Woodbridge International.

Qualified Chartered Accountant (first attempt). Advised on M&A transactions, capital raises, and IPO mandates. Built financial models, prepared CIMs and supported investor outreach and negotiations with founders and CXOs. Transaction exposure ranged from INR 100 Cr fundraises to a USD 125 Mn capital raise.

Financial Modeling · DCF · Trading & Transaction Comps · S&P Capital IQ

Portfolio of work samples (Independent)

W.01
Hindustan Unilever — Financial Model
Built a fully integrated three-statement financial model for Hindustan Unilever including operating forecasts, WACC estimation, beta regression and intrinsic valuation using DCF and trading comparables.
3-STATEMENT DCF · EXCEL
W.02
HUL Trading Comparables Valuation
Developed a comparable company analysis benchmarking Hindustan Unilever against listed Indian FMCG peers using EV-based trading multiples to derive relative valuation ranges.
TRADING COMPS · VALUATION · EXCEL
W.03
HUL – Mrs. Bector's M&A Merger Model
Constructed a hypothetical acquisition of Mrs. Bectors Food Specialities by Hindustan Unilever including transaction structure, pro-forma financials and acquisition impact analysis.
M&A · MERGER MODEL · EXCEL
W.04
Other Work
Additional analytical work including share price analysis, financial analysis of listed companies and preparation of investment related materials.
FINANCIAL ANALYSIS · RESEARCH · EXCEL

Deals & engagements

Acumen M&A Advisors LLP (India affiliate of Woodbridge International) · Articled Assistant · Feb 2023 – Feb 2026

Mandate Type Sector Scale My Role
Majority stake sell-side advisory Sell-Side M&A Packaging INR 250 Cr EV Core execution — 3-statement model + DCF, investor materials, 40+ buyer outreach, CXO engagement during negotiations
Growth capital fundraise Fundraise FMCG Contract Manufacturing INR 100 Cr Led 3-member team — IRR model, capital structure scenarios, sector benchmarking, investor positioning with founders
Growth capital raise Fundraise Housing Finance USD 125 Mn Financial model (loan book, capital adequacy, leverage), built 70-slide CIM in 9 days, collaborated with Tier-1 investment bank
IPO advisory IPO Advisory Integrated Facility Management INR 3,300 Cr+ revenue Sub-segment & client-level financial models, revenue KPI structuring for DRHP preparation
Embedded option valuation Valuation Paints (Listed) INR 4,500 Cr+ mkt cap Monte Carlo simulation for valuing call & put options on subsidiary's shares, analysed redemption liability and P&L impact
Purchase price allocation Valuation Paints (Listed) - Identified & valued intangibles (product formulations, customer relationships) using Relief-from-Royalty and MPEEM
Pharma company valuation Valuation Pharmaceuticals INR 2,000 Cr+ revenue DCF + market approach (comps & precedent transactions) for PMS client — enterprise and equity value
Swap ratio analysis Transaction Structuring FMCG - Share exchange ratio via comparable company analysis, valuation sensitivity, post-merger ownership realignment
Buy-side target screening Buy-Side M&A Chemicals - Acquisition target framework — revenue scale, margin profile, strategic fit; developed full target list

Technical toolkit

Financial Modelling & Presentation
  • Integrated 3-statement models
  • IRR and NPV models
  • DCF and H model
  • CIM and teaser preparation
Valuation
  • Monte Carlo option valuation
  • Purchase price allocation
  • Swap ratio and exchange analysis
  • Trading and transaction comps
Research & Platforms
  • S&P Capital IQ
  • VCCEdge · Tracxn
  • Looker Studio dashboards
  • Sector & industry research

Let's connect.

Open to opportunities in investment banking, valuation and corporate finance. Based in Pune, available across India.

Qualification
Chartered Accountant — All levels, first attempt (Jan '26)
Most Recent Role
Articled Assistant
Acumen M&A Advisors LLP · Feb 2023 – Feb 2026
Location
Pune, Maharashtra, India