Ashvin Shetty, CFA
Ashvin is one of the Founders of Marcellus.
He has more than 10 years of experience in equity research and led the coverage on automobile sector at Ambit Capital.
Ashvin has more than 10 years of experience in equity research. He led the coverage on automobile sector at Ambit Capital from 2010 to 2017. He thereafter worked as a senior analyst for Ambit’s Mid and Small cap PMS funds till November 2018. Prior to joining Ambit, he worked with Execution Noble as an analyst covering consumer and media space. He has also worked with KPMG’s and Deloitte’s statutory audit departments from 2004 to 2007 gaining extensive experience across Indian accounting standards and financial statement analysis.
Qualifications: Ashvin is a BCom graduate from Narsee Monjee College (Mumbai). He is a qualified Chartered Accountant (ICAI India) and Chartered Financial Analyst (CFA Institute, USA).
Articles by team Marcellus
Marcellus' Portfolio Updates & Insights - February 2026
marcellus.in From Our CIO’s Desk RBI’s Report Flags Indian Consumer’s Debt Trap For the past year, we have warned that the Indian middle class is financing its lifestyle through a precarious reliance on debt. The RBI’s latest Financial Stability Report (FSR) has now validated these concerns, signalling that the “consumption story” is hitting a wall […]
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Marcellus' Portfolio Updates & Insights - January 2026
marcellus.in From Our CIO’s Desk How Four Mega-Reforms by the Indian Government and the RBI Dismantled the Barriers to International Capital. RBI data reveals a staggering 58% surge in capital outflows from India over the past 5 years. This shift underscores a critical imperative: the necessity of investing in dollar-denominated assets. This is particularly […]
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An Economic ‘Sagar Manthan’ Beckons for India
India’s three-decade-long growth story was built on a critical engine: IT services exports worth $225 billion a year that funded India’s current account, created a million middle-class jobs each year, and powered domestic consumption. That engine is now slowing due to a maturing global outsourcing market and due to the substitution of cognitive labour by […]
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