Goldfib The study behind the walkthrough
We modelled one analyst's 50-hour week covering Indian listed companies and split it into six tasks: collecting filings and extracting tables, updating models, reading, analysis and thesis work, writing, and verification. We then built a desk around that week (salary, data seats, overheads and a senior reviewer's time) and costed it for a coverage list.
Next we re-ran the same week with collection, extraction and model updates automated, and added an explicit verification step. Mechanical work falls from about 27 hours to 6, analysis time rises from 8 to 20 hours, and each analyst finishes about twice as many full reports a year (24 instead of 12). The walkthrough applies that result to the list you choose.
It is a model built from stated assumptions, not a survey of firms. Every assumption is printed under the walkthrough so you can replace it with your own.
What each step shows
Choose how many companies and where they sit: large caps, small and mid caps, or unlisted.
Analysts needed at about 12 full reports each, with data, overheads and senior review added in.
A 50-hour analyst week before and after automating collection, extraction and model updates.
Manual and automated desks plotted across coverage sizes, with your list marked.
Initiations, quarterly notes and governance checks for a year, sent to us as a plan.
The cost model follows what a research desk really costs, and the hours split follows AI and research automation: what works. For where uncovered companies sit, see the small-cap coverage gap.
Frequently asked questions
How much does an in-house equity research desk cost in India?
Using the illustrative defaults in this walkthrough, a two-analyst desk costs about ₹81 lakh a year once data seats, overheads and senior review are included. Salaries are only around 54% of that. At 24 full reports a year, that is roughly ₹3.4 lakh per report.
How does automation change the cost per report?
Automation mostly removes mechanical work: collecting filings, extracting tables and updating models. In the illustrative model, analysis time rises from 8 to 20 hours a week, so each analyst completes about twice as many reports and the cost per report falls even after adding tooling costs.
Are the walkthrough numbers a quote?
No. They are illustrative assumptions drawn from Goldfib's research desk cost and automation guides. Replace them with your own salary, data and output figures. Email partners@goldfibcapital.in for a scoped plan.