Process Oriented, Performance Driven.
Founded by Sanjay Sinha and co-promoted by M. Damodaran, Citrus Advisors delivers research driven, disciplined portfolio management. The firm follows a disciplined, research-driven approach that combines top-down macroeconomic analysis with bottom-up stock selection. Its focus is on identifying quality businesses with capable management, sustainable growth drivers, and reasonable valuations within sectors well-positioned over a 1 to 3 year horizon. The firm aims to build portfolios that emphasize quality, adaptability, and long-term value creation.
Sorted by 3-year return. Returns are TWRR, net of fees; CAGR above 1 year.
CITRUS SECTOR LEADERS
CITRUS MIDCAP MARVELS
Citrus Advisors Private Limited
On SEBI's register as on 1 Nov 2026. Check SEBI's register
Hemant Patel
Fund managerSenior Fund Manager
Hemant Patel is a founding partner and Chief Investment Officer at Alder Capital with over 22 years of capital market experience and more than 15 years in institutional equity research. He previously served as Executive Director – Consumer Equity Research at Axis Capital and was recognized by the Wall Street Journal as India’s top analyst for the home and personal care sector. He holds an MBA from the Australian Graduate School of Management, University of New South Wales.
M. Damodaran
Co-Promoter, Citrus Advisors
M. Damodaran brings over 40 years of leadership across India's financial and regulatory landscape. He served as Chairman of SEBI, where he strengthened India's corporate governance framework, and later led restructuring efforts at IDBI and UTI. An ex-IAS officer, he has held senior roles across the Ministry of Finance and RBI. He currently serves on the boards of several leading institutions including L&T, CRISIL and Biocon, and has previously chaired InterGlobe Aviation (IndiGo). His presence reinforces Citrus Advisors' commitment to governance, institutional integrity and long-term financial stewardship.
Sanjay Sinha
Founder, Citrus Advisors
Honours Graduate in Economics, University of Delhi; postgraduate, IIM Calcutta
Sanjay Sinha brings over four decades of experience across India's leading asset management institutions. As CEO of L&T Mutual Fund, he led a fivefold expansion in assets under management. Earlier, as CIO at SBI Mutual Fund, the fund house saw rapid growth in AUM and won multiple industry awards for performance. During his long tenure at UTI, funds under his management were among the first to receive national recognition. His experience spans the full spectrum of equity investing, from index and exchange-traded funds to diversified and sector strategies. With exposure across mobilization, investments and investor servicing, he offers a rare 360-degree understanding of fund management.
Dheeraj Singh
Advisor – Debt Strategies
Dheeraj Singh has over 30 years of experience in investment management, risk management and entrepreneurship. He has served as CIO overseeing fixed income and equity portfolios with assets exceeding USD 2 billion at leading asset management companies. He is also engaged in technology-driven initiatives including projects in the Web 3.0 space.
Investments in securities markets are subject to market risks. Read all the related documents carefully before investing. Past performance is not indicative of future returns.
Pavan Tourani
Vice President
Pavan Tourani has approximately seven years of experience as an equity analyst and commodities trader. He has been part of equity research teams at UBS Asia and Crisil, and has worked with the investor relations team and Managing Director’s office at a listed Indian e-commerce company. He holds an MBA from NITIE.
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