Continuous engagement combined with knowledge-driven and value-enhancing communication style drives businesses today.

Strategic Growth Advisors Private Limited (SGA) understands the communication needs of the corporates. We provide consultancy and advisory for an effective positioning that leads to increase in investor confidence and market reputation.

Our effective life-cycle engagement revolves around Investor Relations (IR), Financial Reporting through Annual Reports (AR) and Financial Public Relations (PR). Our approach is aimed towards pursuing maximum impact and quality outreach through continuous and consistent communication leading to PERCEPTION TRANSFORMATION.


With a keen emphasis on relations, SGA aspires to become the most preferred partner for organisations looking to create sustainable value.


Founded on the principles of trust and credibility, we pledge to live by the following values.


Our business model is based on mutual trust. Maintaining trust and credibility is critical to our success.


We will maintain high ethical standards and strive to be known for our uprightness in all that we do.


We will be sharp and responsive. We will always be on the lookout for new opportunities and be nimble-footed while adapting to changing situations.


We will strive to bring in fresh and unique perspectives while solving critical client problems. We will welcome difficult questions and look beyond the obvious so as to explore and identify all possibilities.


We will foster a deep sense of responsibility and self-discipline to stay true to the commitments that we have made.

Our priorities

A professional practice is built around choices. What a company will do.And what it will not.

At SGA, we are represented by our choices.


  • Base of clients with sound governance policies
  • Understand the depth of the business model
  • Creating a network of investors across the globe
  • identify the right investor for a company
  • Map the success of their interventions
  • Respond to contingencies
  • Enhance research coverage


explains Samir Shah, Managing Director of SGA
  • The need for responsible investor relations

    A growing governance movement needs to be built around the edifice of transparency, strategic consistency and credibility.

    At SGA, we provide a consulting, advisory and strategic implementation service that strengthens this governance process for clients.

    With markets becoming increasingly sophisticated, the governance goalpost has reached a state of continuous flux. Consequently, there is a need to aggregate internationally-best practices and raise the bar in terms of governance.

    Besides, with most companies seeking to make the fullest use of their management bandwidth to climb to the next level, there is a need to utilise the best investor relations capabilities to catalyse the growth. There is a growing recognition that most companies need to outsource this responsibility to agencies bestowed with this specialised capability.

    Creating a room for specialised consulting partners like SGA, a consistent bridge between corporates and investors.

  • A widening room for intervention

    There are a number of others reasons that vindicate the need for responsible investor relations.

    The management has various ongoing business engagements. IR is practiced on 'need-based' basis as immediate business priorities gain precedence.

    Infrequent and unplanned interactions lead to the business model of most companies being indistinctly articulated.

    Most companies have failed in educating their stakeholders on what lies beyond the immediate quarter.

    Engaging in investor relations prior to fundraising cannot generate long-term believers, given the short span of time.

    The competition for grabbing the attention of the investors, analysts and the media has become stiff to the extent that one may not end up getting the required visibility.

    The result: a mismatch between the fundamentals of these companies and their perception.

    A responsible investor relations process – like the one practiced at SGA – helps correct the skew.

  • The role

    So what does SGA do?

    Principally, SGA fuses its balance sheet understanding, analytical capabilities and sectoral insights to design an investor relations blueprint, customised as per business needs. This forms the very basis of correcting the mismatch between reality and perception.

    Thereafter, SGA makes it possible for its clients to interface with investors (existing and prospective) and analysts. This interfacing is more complex than one would assume; it comprises the pitching of the corporate story at just the right audience, preparing periodic performance updates, addressing specific queries and helping the investor understand a company beyond its stated numbers.

    In short, SGA helps its clients communicate clearly and consistently.

  • Client selection process

    SGA's rapid success has been the result of a prudent client selection process.

    • SGA's clients do not use IR services to merely mobilise equity capital over the near future

    • SGA clients demonstrate a steadfast commitment to investor relations

    • SGA clients aim to build a brand around good governance processes

    • SGA clients unlock value with an assurance of transparency

  • Client servicing

    At SGA, we never close shop.

    This means that in an interconnected and globalised world, we are always available.

    Whether it means taking a call in the dead of night or engaging with global investors as per their different time zones, we are accessible 24X7.

    Because SGA's motto is 'Always available'.

  • Overview

    Our enduring focus is to improve the perception of our client. Benefiting not just the company but its entire family of stakeholders.

About the company

SGA is a value-driven and values-led investor communication consultancy.

The firm provides an effective complement of Investor Relations, Investor Communications, Financial Public Relations, Strategic-cum-Corporate Financial Advisory, Potential Listing Services as well .

The firm is driven by a team of experienced professionals with proven credentials.

The SGA difference

SGA was founded by Samir Shah, one of the most experienced corporate finance and investor relation professionals in India.

Samir has been on both sides of the transaction table.

As Head - Investor Relations, Suzlon, he managed the investor engagement process for a large complex Indian MNC with operations across the globe. In this role, Samir handled the challenges of multi-country governance, addressed wide investor cross-section needs, navigated around the complexities of a rapidly growing business and rode the dynamism of a sunrise sector.

Having passed on his experience to the entire team, he has been able to grow it into one of the fastest-growing IR consultancies in India. The team comprises professionals with strong industrial, financial and academic competencies.

Procedural commitment

This is what makes SGA a trusted consultancy and advisory partner:
• SGA interfaces on behalf of clients helping liberate management time. • SGA is always available, making it possible for its client, analysts as well as investors to solve issues in minutes, even with just a phone call. • SGA creates structured communication methodologies for its clients, resulting in coherence and consistency. • SGA helps in positioning a company distinctively in the minds of the investor community. • SGA keeps investors and analysts updated on quarterly corporate performances and provides explanations for deviations, if any.

At SGA, ethics comes first

SGA brings to its business an ethical discipline comprising the following commitments:

• Refraining from proprietary trading • Getting quarterly disclosures from all colleagues, affirming that the team has not engaged in trading equities (of clients) • Preferring to work with clients only after due diligence • Insisting on a contract termination clause which can be invoked if any governance discrepancies are identified



A specialised consulting and advisory firm is as good as the combined competence of its consulting professionals.

This represents SGA’s biggest strength.

SGA comprises professionals who possess rich academic credentials and industry experience, inspiring client trust. Each member is focused on executing their respective responsibilities and managing client requirements independently.

Each member at SGA is a leader in his or her own right.

The SGA team focuses on unlocking value for its clients and building a brand based on trust and mutual respect.

Samir Shah
Founder & CEO

A Chartered Accountant by profession, Mr. Shah has more than 30 years of cumulative experience across such diverse sectors as corporate finance, capital markets, investor relations, business strategy and planning.

He Founded Strategic Growth Advisors in year 2010, prior to that he was :

Head – Corporate Finance and Investor Relationships, Suzlon Energy Limited

  • Professional relationship spanning longer than a decade
  • Equity capital markets: private equity, IPO, GDR
  • Managing global investor relations
  • Part of the Global M&A Transactions and Group Finance Strategy
  • Debt syndication from domestic and international banks

Executive Vice President at a Private Equity Firm

  • A firm closely associated with Hirco /Hiranandani Group on Investments
  • Advisory and Strategic fundraising

Vice President at a leading stock broking company

  • Involved in business development and planning and bank financing

Vice President at a NBFC

  • Fundraising, leasing, hire purchase financing, working capital financing, merchant banking, diversification in the realm of wind power generation and stock broking
  • Managed legal and regulatory matters, credit ratings, among others
Payal Dave
Group COO

Payal has more than 13 years of experience in the realms of corporate finance, capital markets, business research and investor relations. She has a Baccalaureate in Management. She holds the prestigious International Certificate in IR by the IR Society of UK; she has passed the CFA – Level II examination. Payal has been associated with SGA since inception.

As a COO, she is responsible for entire gamut of Investor Relations of all Clients in various Industry Segments like Banking, Manufacturing, Infrastructure, Logistics, Media & Entertainment etc.

Prior to joining SGA since inception:

Assistant Vice President – B&K Securities

  • A part of the Institutional Equities Team
  • Worked closely with leading Institutional Investors in India and abroad

Senior Associate – Research, Morgan Stanley

  • Worked with the top-ranking European Banking research team over the five years
  • Added value by analysing underlying strengths of financial institutions
  • Has undergone training in Intensive Bank Analysis by Fitch Ratings
  • Contributed to flagship publications of Morgan Stanley – Structured Credit Insights, Bank Capital A-Z (pens down analysis of various Banking Regulations on different tiers of Capital issued by Banks)

Executive – Corporate Finance, Yash Birla Group

  • Part of the Group Strategy Team – Analyzed proposals for new lines of business
  • Review plans of all Group Companies
  • Solely managed the fixed income deposit scheme of Birla Power Solutions Limited
Kevin Shah
Vice President

Kevin has passed Intermediate Chartered Accountancy exam and has over 6 years of work experience with 3 years experience in Investor Relations with SGA.
He directly managed client relationships for Key Infrastructure Clients and has been a part of Business Development team. He manages Client Relations Management (CRM) and controls, systems and processes.

Prior to SGA :
Interned with S. R. Batliboi & Co., an associate member firm of Ernst & Young LLP

  • Worked on various Statutory Audits, Tax audits of Large MNC’s and Mid-size Indian corporates
  • Key assignments included IFRS conversions
  • Was involved in Business Development as well
Jigar Kavaiya
Group Account Head, IR Practice

Jigar is an MBA with over 10 years of experience in the areas of investor relations and corporate finance. He joined SGA in December 2011 and currently manages client relationships with a team of over eight professionals.

Prior to SGA :

Reliance Infrastructure – Manager Investor Relations

  • Formulation and Implementation of Investor Relations Plan
  • Responsible for Research Coverage by Leading Research Houses and Investor Interactions
  • Tracking and Analyzing Peer Groups of Various Industries Helped in Corporate Strategic Planning

Suzlon Energy – Assistant Manager Investor Relations

  • Part of the Global Investor Relations Management Team
  • One Point Contact for Sell Side Analysts
  • Preparation of Consolidated Financial Model, Investor Presentation and Communications

Seagal Financial Services – Financial Analyst

  • Analyzing Capital Market Data for Global Companies
  • Tracking and Analyzing Peer Group Performance of Global Companies


Shogun Jain
Group Account Head, IR Practice

Shogun is a Masters in Commerce with over 10 years of experience in investor relations. He joined SGA in May 2014 and currently manages client relationships with a team of over 8 professionals.

Prior to SGA :

Aarnine Financial Markets Advisory LLP – Associate, Investor Relations

  • Covering Petrochemical , Infrastructure & Real Estate companies
  • Responsible for Research Coverage by Leading Research Houses and Investor Interactions
  • Business Modelling, Analysis & preparation of collaterals

Orbit Corporation Limited – Associate, Investor Relations

  • Handled Investor Relations for the Company
  • One Point Contact for Sell Side Analysts & Institutional Investors
  • Member of the team which handled the QIP fund raise

Edelweiss Securities Limited – Junior Associate

  • Member of the Institutional Equity Desk
Neha Shroff
Account Manager, IR Practice

Neha is a Qualified MBA and CFA (USA) with over 5 years of experience. She joined SGA in 2014 and handles investor relation activities for client companies in various sectors. Prior to that, she was an Equity Research Analyst with K.R. Choksey tracking Auto & Auto Ancillary and FMCG Sectors

Chintan Kotak
CEO, Annual Reports Practice

Possesses over 11 years of experience in the field of Annual Report Positioning and Communications.

He has expertly handled projects across major industries like BFDI, Textiles, Healthcare, Engineering, Infrastructure, Real Estate, Steel, Power, Mining, Logistics, Chemicals, Oil & Gas, Building & Packaging Products, IT And Sugar among others. Besides, he also has knowhow on interactive web solutions and digital marketing. This facilitates clients to get an extra edge to reach out to their potential target audience. He is a MBA with specialisation in finance and marketing.

He Co-Founded Adsvita Communique in the year 2015, prior to that he was:

Business Analyst and Development Manager at one of the leading IT Company

  • Part of the Management Team
  • Provided digital media advisory for web interactive solutions like website development, mobile applications and other rich interactive media
  • Headed the digital marketing team


Research Associate and Senior Research Consultant at two of the India’s leading AR agencies, respectively

  • Developed investor communication collaterals, with Annual Report as a core focus
  • Provided positioning strategies to the corporates through in-depth research and management interactions
  • Drafted communication story based on the inputs provided by the Management
  • Managed and co-ordinated with the creative team for end-to-end deliveries, ensuring smooth and timely execution
Debabrata Dutta
COO, Annual Reports Practice

Possesses over 30 years of experience as a Graphic Designer and Production Manager.

His innovative graphic artistry combined with out-of-box design concepts and methodology allows him to deliver a perfect amalgamation between the content and creatives. He has successfully handled big ticket clients across varied industries and exhibits detailed production knowhow with the ability to excel in fast-paced and time-sensitive environment. He has successfully exhibited projects across range of communications like annual reports, brochures, coffee table books, flyers, ads, hoardings and many more.

He Co-Founded Adsvita Communique in the year 2015, prior to that he was:

Senior Graphic Designer and Production Manager at a leading PR Company

  • Managed designing and production of various communication collaterals ranging from Annual reports, Presentation, Brochures, Packaging and Ads
  • Advisory for Fabrication and Printing processes

Senior Production Manager at two of the India’s leading AR agencies

  • Led a team of production manager
  • Managed art-working and production process for annual reports and brochures
  • Assisted in pre-press arrangements

System Operator and Graphic Designer at various designing agencies

  • Assisted in designing and pre-printing process
  • DTP operations

Awards and accolades

Our Himadri Speciality Chemical Ltd. Annual Report 2016-17 has been ranked 22nd amongst the Top 100 Annual Reports Globally

Our Himadri Speciality Chemical Ltd. Annual Report 2016-17 has been ranked 22nd amongst the Top 100 Annual Reports Globally

Best Stand – Out Investor Relations Practices at IR Society Awards 2017, organized by Investor Relations Society of India in association with BSE, KPMG India and Bloomberg on June 02, 2017


Mr. Tushar Pradhan, CIO HSBC Asset Management, handed over the Award to Mr. Sitendu Nagchauduri, CFO Navin
Fluorine International and Ms. Payal Dave, Group COO of SGA


SGA awarded “Top IR Agency for Best Investor Communication Practice 2015”  by Poll of over 3000 Investors and Analysts.

award_1 Top IR Agency for Best Investor Communication Practice 2015


Award Ceremony at BSE Convention Hall on 4th March 2016.

Mr. Sudhir Arya, Executive Director (Finance) NTPC Limited and Mr. Sunil Kakar, CFO, IDFC Bank Limited handed over the Award to Mr. Samir Shah, Managing Director and Ms. Payal Dave, Chief Operating Officer of SGA.



SGA received an Award – IR Consultant of Va Tech Wabag. Our client, Va Tech Wabag is Winner of “Best Investor Communication Practice – Small Cap” Award by Research bytes IC in the year 2013-14. The winner was selected from a global poll involving over 1,500 fund manager/analysts.

Mr. Samir Shah receiving the award from Mr. Anant Goenka, MD, Ceat Limited


What we do

SGA builds communication strategy for interfacing between its clients and existing and prospective investors on the one hand and the analyst community on the other.

SGA's competence lies in the ability to establish a dialogue through sectoral updates, peer comparisons and analytical reviews.

SGA combines the science and the art of investor communications. The firm interacts periodically with analysts, comprehending their information requirements and responding with relevant communication.

SGA brings to its clients knowledge drawn from diverse sectors and best practices with the objective of reinforcing governance and client perception.

SGA handholds its clients across the gamut of functions comprising of Investor Relations, Investor Communications, Strategic-cum-corporate Financial Advisory, Potential Listing Services as well Financial Public Relations. The result: VALUE CREATION

  • Investor relations

    • Building the “Investment Idea”

    • Marketing idea through Research Coverage

    • Investor Base Expansion

    • Perception Management

    • Communication and messaging including PR strategy

  • Investor Communications

    Creative Solutions for:

    • Annual Reports

    • Brochures

    • Presentations

    • Branding

    • Web and Digital

    View More

  • Public Relations

    • Corporate Communications

    • Crisis Management

    • Activation & Experiential PR

    • Event Management

  • Strategic advisory

    • As-is of Company versus sector leaders

    • Review of Business Plans

    • Identification of key gaps and opportunities

    • Conversion of goals in measurable objectives

    • Formulation of strategic roadmaps

  • Corporate finance advisory

    • Capital structure philosophy

    • Raising funds – across the globe

    - Debt markets
    - Equity markets

    • Evaluating M&A/ investment opportunities

    • Identifying opportunities in global and domestic markets

    • Analysing synergies with the target company

    • Financing and closure

  • Potential listing

    • Corporate strategy review

    • 360-degree procedural engagement

    • Building a 'fact-book'

    • Communication and positioning strategy

    • Enterprise valuation analysis

    • Making the company 'capital market ready'

Our core capabilities

Unique Value Creation Capabilities
  • In-depth Analysis
  • Unique Insights
  • Global Perspective
  • GLOCAL Relationship Network
  • Track Record

Client partnerships

SGA's idea of forging relationships revolves around the idea of aligning of corporate goals to create long-term sustainable value.

Our approach

Our ability to deliver sustainable client value is based on a deep understanding of the client's sectoral challenges, business model, investment opportunities and management bandwidth.

These realities are communicated to the shareholders as well as a 'glocal' network of analysts and investors.

SGA engages in a methodical study to identify a client's key differentiators. The result is an all-encompassing communication strategy that helps clients to carve a niche for themselves.

SGA believes that each company is unique; hence a templatised approach to investor relations doesn't work; one pair of shoes fits only one pair of feet. Subsequently, SGA offers customised solutions that evolve and enhance client perception in a sustainable way.

Analyse sector and company
Assess market views on sector and company
Identify and define key levers of value creation
Implement by-function internal plan
Devise multi-tiered global strategy
360° value creation Plan

Our corporate partnership

Communication Consultancy Solutions

SGA has a portfolio of over 55 clients across diverse sectors like auto ancillary, chemicals, EPC, industrial, interior and exterior infrastructure, logistics, media, pharmaceuticals, renewable energy, retail, textiles, and e-commerce, among others.

join us


SGA's primary objective is to enhance long-term value.

To be able to do this in a sustainable way, SGA is always seeking team members with a yen for financial
inquiry, persuasive communications and valuation dynamics.

SGA always has room for inspired and hardworking professionals.

Apply online


contact us

Payal Dave

M: +91 98199 16314

Strategic Growth Advisors Private Limited

CIN: U74140MH2010PTC204285

402, Pressman House, Near Orchid Hotel, 70A, Nehru Road, Vile Parle (East) Mumbai – 400 099