Ankur Chandra, Finance Expert in New Delhi, Delhi, India
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Ankur Chandra

Verified Expert  in Finance

Finance Expert

New Delhi, Delhi, India
Toptal Member Since
December 4, 2019

Ankur has made financial models for the solar power, airline, and pharmaceutical industries. Together with a team, he set up Shakti Industries' PET bottle plant in Haridwar, India, using an initial investment of $1 million. At Mastercard, Ankur also made a model forecasting the impact of demonetization in India, working alongside with his team. As a freelancer, Ankur intends to create value for clients by leveraging his deep expertise.

Career Highlights

Creative Producer
Mastercard Worldwide
Equity Research Specialist
Dion Global Solutions (Religare)

Education Highlights

Master's Degree
University of Madras
Bachelor's Degree
University of Delhi

Case Studies

Work Experience

Subject Matter Expert

2018 - 2019
Trivium Education Services
  • Provided online training support to Chegg, the main client of Trivium.
  • Delivered training in complex areas of finance such as valuation of options using the binomial model and Black-Scholes model. Other training included financial modeling and valuation (DCF, relative valuation, and book value valuation methods).
  • Provided in-depth training in M&A analysis in areas of identification and calculation of synergies and calculating the value of the target company.
Focus areas: Budgeting, Financial Planning & Analysis (FP&A), Mergers & Acquisitions (M&A), Financial Modeling, Finance

Expert Financial Modeling and Advisory

2017 - 2019
Mura Solutions
  • Created complicated and sophisticated financial models in areas such as discounted cash flow (DCF) valuation.
  • Wrote advisory reports in areas such as foreign direct investment (FDI) in India.
  • Conducted a detailed study and prepared an analytical report on the implications of 2017 demonetization in India.
  • Built economic models such as one forecasting GDP growth rate of the United States on the basis of parameters such as consumer spending, investments, government spending.
  • Implemented a detailed study of goods and services tax (GST) structure in India.
Focus areas: Economic Analysis, Valuation, Taxation, Accounting, Financial Planning & Analysis (FP&A), Financial Modeling

Lead Expert Reports and Financial Modelling

2017 - 2019
G.S. Global
  • Wrote a comprehensive report analyzing M&A acquisitions in the last decade. This report analyzed M&As across industries and across geographies on the basis of three parameters of industry attractiveness, the price paid in terms of EBITDA multiples, and synergies. M&As from a range of industries such as the steel industry, the automobile industry, and the pharmaceutical industry were covered in the report.
  • Built a number of financial models for budgeting and financial forecasting. These models were used in providing accounting and other financial services to a number of micro and small businesses in India, that were clients of the company.
  • Wrote over 100 reports analyzing companies and businesses. These reports mainly analyzed micro, small and medium-sized businesses and companies in India, that were clients of the company.
  • Composed a number of thought leadership pieces on emerging trends such as how artificial intelligence may not improve the quality of strategic decision-making.
  • Wrote data analysis reports on data collected in market researches of client companies.
Focus areas: Data Analysis, Thought Leadership, Company Analysis, Financial Planning & Analysis (FP&A), Financial Modeling, Mergers & Acquisitions (M&A)

Creative Producer

2016 - 2017
Mastercard Worldwide
  • Prepared a detailed report on the impact of demonetization in India on digital transactions and card payments.
  • Developed a detailed analysis of Black Friday shopping phenomenon. Black Friday or Friday after Thanksgiving is the beginning of the biggest shopping season in United States. It continues until Christmas and the end of the year. This analysis identified the trends of Black Friday retail sales in the past two decades. It also analyzed the impact of online retailers on Black Friday sales of brick-and-mortar retailers.
  • Implemented an extensive analysis of the implications of data-driven smart cities.
  • Sold Mastercard the rights to file for a patent on the product idea of a forecasting software that will be linked to cards of Mastercard. This software can analyze the transaction data of payments made through Mastercard cards for forecasting near-term energy and electricity requirements of a city.
  • Prepared a number of reports that were used by the marketing team and consulting division of Mastercard. These reports were made after analyzing the transactions data that was generated when users made payments using the cards of Mastercard .
Focus areas: Digital Marketing, Data Analysis


2014 - 2016
iACT Global
  • Edited a 10,000 word book along with the MD (an MIT alumnus who wrote the book) of the company. The book is called "Dream Job in 90 days." It achieved sales of around $1 million.
  • Wrote and edited a book, "Why we don't want to be Rich", along with the Directors of iACT Global (MIT, IIT, IIM alumni).
  • Conducted consulting assignments in strategic management like preparing the long term plan of expansion of the company. Also foresaw the implementation of some aspects of the plan, like the opening of the new office of the company in Mumbai.
  • Composed a number of thought leadership pieces in areas such as game theory and surgical strikes by India.
  • Prepared e-training courses in the areas of sexual harassment at the workplace for KPMG India, a client of iACT Global.
Focus areas: Management Consulting

Finance Expert

2014 - 2016
Oz Wiz Edu Experts
  • Provided online training in financial modeling, mergers & acquisitions, financial analysis, corporate finance, and derivatives to working professionals and students who were completing certification courses in financial modeling and investment banking.
  • Created sophisticated financial models while imparting training on how to do DCF valuation to students and working professionals.
  • Developed case studies using real-life examples that helped students in understanding how to apply the knowledge that they gained during the training programs.
  • Advised the management on the course content for the training programs in financial modelling and investment banking.
  • Participated in marketing activities to promote these courses among employees of a number of knowledge process outsourcing (KPO) companies.
Focus areas: Financial Planning & Analysis (FP&A), Corporate Finance, Derivatives, Mergers & Acquisitions (M&A), Financial Modeling

Equity Research Specialist

2013 - 2014
  • Wrote more than 50 equity research pieces. These pieces were published on Etruvian's online platform.
  • Conducted valuation of the shares of a number of companies, as part of the equity research process.
  • Wrote a number of thought leadership pieces on major macroeconomic events such as default by Argentina on its sovereign bonds.
  • Analyzed the quarterly and annual results of a number of companies such as Google, Microsoft.
  • Composed a number of pieces on international forex trade. These pieces specially focused on event-driven strategies for trading in currencies. For instance, they showed how a particular event, like say a spike in oil prices due to the beginning of the civil war in Libya, impacted the movement in the value of a particular currency. These articles covered not only economic events, but also political and social events too, in terms of their likely impact on the currency in the near term.
Focus areas: Equity Research Analysis, Equity Research

Equity Research Specialist

2011 - 2013
Dion Global Solutions (Religare)
  • Wrote equity research pieces on a number of listed Indian companies. Conducted fundamental and technical analyses during the equity research process.
  • Generated early morning commentary on the Indian stock market and Southeast Asian stock markets. These commentaries were sent to more than 50 brokerage houses that were clients of Dion.
  • Composed thought leadership pieces on micro-economic and macro-economic events. Major events on which articles were written in that period included: "The need for Input side economic reforms in India," "The negative impact of retrospective taxation of Vodafone's acquisition of Hutchison in India," and "How continued quantitative easing by Federal Reserve in the aftermath of the financial crisis will impact the Indian stock markets."
  • Developed a detailed report on the prevailing income tax and corporate tax code of India.
  • Secured a number of new clients because of the quality of research reports and articles.
Focus areas: Equity Research

Manager Finance

2009 - 2010
Shakti Industries
  • Oversaw the financial management of the company from the initial stage of setting up its manufacturing plant.
  • Involved in negotiations with key suppliers of machinery and raw materials.
  • Led the setup of financial management infrastructure in the company.
  • Oversaw the implementation of key accounting and financial management software in the company.
  • Supervised working capital management and treasury management.
Focus areas: Financial Management

Research Analyst

2008 - 2009
Planman Media
  • Conducted research and wrote analytical pieces on macroeconomic events like the US subprime crisis, including the role of mortgage-backed securities in triggering the crisis.
  • Wrote a piece on the role of Fannie Mae (Federal National Mortgage Association) and Freddie Mac (Federal Home Loan Mortgage Association) in the US subprime crisis.
  • Prepared a report analyzing the fall of Lehman Brothers.
  • Published research on the role of credit rating agencies in causing the US subprime crisis and the ensuing economic slowdown.
Focus areas: Economic Analysis, Business Research
2011 - 2013

Master's Degree in Economics

University of Madras - Chennai, India

2006 - 2009

Bachelor's Degree in Commerce

University of Delhi - New Delhi, India


Financial Modeling, Financial Planning & Analysis (FP&A), Valuation Modeling, DCF Valuation, Corporate Finance, International Finance, Mergers & Acquisitions (M&A), Equity Valuation, Data Analysis, Finance Strategy, Private Equity, Accounting, Taxation, Valuation, Budgeting, Equity Research, Equity Research Analysis, Financial Management

Output Software

Microsoft Word, Microsoft Excel, Excel 2016, Microsoft PowerPoint

Industry Expertise

Oil & Gas, Retail & Wholesale, Financial Services

Data & Analysis Software

Bloomberg, Capital IQ, Thomson Reuters, EViews

Geographic Expertise



Finance, DCF Modeling, Financial Forecasting, Finance Blog, Relative Valuation, Internationalization, Economics, Content Strategy, Strategy, Market Diligence, International Affairs, Equity Investment, Foreign Exchange, Macroeconomic Forecasting, Company Analysis, Thought Leadership, Economic Analysis, Digital Marketing, Management Consulting, Business Research, Financials, Industry Analysis, Investment Analysis, Portfolio Management, Financial Ratios, Equities, NPV Calculation, Financial Analysis, Derivatives, Operations Research, Microsoft Power BI

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