Arindam Mandal
Prior to joining Marcellus, Arindam spent nearly a decade in the United States working for Principal Global Investors (PGI).
Arindam brings over a decade of global investing experience, having spent nearly 10+ years in the United States with Principal Global Investors (PGI). He began his career as a Quantitative Analyst before transitioning to fundamental equity research, where he served as the lead analyst covering U.S. and Global Industrials and Utilities. In early 2019, he broadened his investment mandate to include Emerging Markets and oversaw India public equity investments across PGI’s global equity platform. PGI manages more than 100B in equities. His primary fund during this period managed $5B+ in assets. Prior to his investment career, Arindam worked as a Lead Software Engineer in product research and development at Oracle Corporation.
Qualifications: Arindam holds a Bachelor of Technology (First Class with Distinction) from NIT Warangal and earned his MBA from Duke University’s Fuqua School of Business, where he graduated with highest honours in Finance.
Articles by team Marcellus
Earnings Growth in India: Sliding Nifty vs Rising CCP
Nifty50’s EPS growth moderated to 6% YOY in FY25 (from 24% CAGR over FY21-24) whilst valuations remain elevated (21x FY26 P/E for Nifty50). In stark contrast, Marcellus’ CCP portfolio’s earnings growth rate has been in the range of 17%-18% CAGR until FY24 and held firm at 14% YoY in FY25. Amidst a growing earnings growth […]
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Portfolio performance and update on Fundamentals - May 2025
The NIFTY 50 is an Indian stock market index that represents the float-weighted average of 50 of the largest Indian companies listed on the National Stock Exchange. The BSE 500 index is designed to be a broad representation of the Indian market. Consisting of the top 500 companies listed at BSE Ltd., the index covers […]
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The Eighth Commandment: Relax & Refresh (Don’t reflect)
Summary: Give yourself time to relax, recover, and refresh. And when you are relaxing do NOT let your mind brood over past mistakes and try not to dwell on the challenges tomorrow will bring. [To find out what the Ten Commandments of Indian Entrepreneurship are, please click here: https://marcellus.in/blogs/the-ten-commandments-of-entrepreneurship-in-india/] “Six days you shall labor and do […]
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Earnings Growth in India - Sliding Nifty vs Rising CCP