Quick Summary
Visual Research is a SEBI-registered Research Analyst firm based in Indore, run by Satish Pandey under registration INH000012786. Eleven separate services, covering cash, futures, options, and MCX segments, are all priced almost identically at Rs.15,000 monthly and Rs.75,000 half-yearly, with no explanation of how the services actually differ. The firm’s monthly complaint disclosure stops at August 2023, even though the annual table reports complaints as recent as FY2025-26. This blog covers the firm, its pricing structure, and the gap in its complaint disclosure.
When eleven different research services all cost exactly the same amount, the pricing page stops telling you anything about what you’re actually paying for.
Visual Research runs exactly that structure.
This review covers the firm, what its identical pricing across services actually means, and the outdated complaint disclosure sitting on its own website.
Visual Research Company
Visual Research is a SEBI-registered Research Analyst firm based in Indore, Madhya Pradesh, providing market research and analysis to clients.
The firm offers research across cash, futures, options, positional, and MCX segments, stating that its research team conducts technical and sentimental analysis and provides daily research reports and live market updates.
Visual Research claims personalized assistance, regular updates, technical support, and 24/7 live chat, highlighting a risk-management approach and stating its team has over five years of combined corporate experience.
Independently, the firm’s own live website lists a different contact email, info@visualresearch, than the one on SEBI’s registry, [email protected], along with a hotline number.
The website lists Facebook, Twitter, YouTube, and LinkedIn profiles, but the links provided lead to the platforms’ generic homepages rather than specific Visual Research profiles.
Is Visual Research SEBI Registered?
Yes. Visual Research holds SEBI Research Analyst registration INH000012786, under contact person Satish Pandey, with perpetual validity from August 30, 2023.
The registered address is House No. 68, Shrinath Township, Village Dhabali, Indore, Madhya Pradesh, 453771.
The correspondence address listed is First Floor, Madhav Corporate, Scheme No. 78, Plot No. 04, Atal Khel Parisar Main Road, Indore, Madhya Pradesh, 452001.
Before paying any firm claiming SEBI registration, it’s worth checking it directly through the SEBI website.
Visual Research Pricing and Plans
Visual Research lists eleven separate services, each priced across monthly, quarterly, and half-yearly terms.
Pricing Across All Eleven Services
| Service | Monthly | Quarterly | Half-Yearly |
|---|---|---|---|
| Stock Cash Analysis | ₹15,000 | ₹37,500 | ₹75,000 |
| Stock Future Analysis | ₹15,000 | ₹37,500 | ₹75,000 |
| Stock Option Analysis | ₹15,000 | ₹37,500 | ₹75,000 |
| Index Option Analysis | ₹15,000 | ₹37,500 | ₹75,000 |
| Positional Cash | ₹15,000 | ₹40,000 | ₹75,000 |
| Positional Future | ₹15,000 | ₹40,000 | ₹75,000 |
| Positional Option | ₹15,000 | ₹37,500 | ₹75,000 |
| MCX Analysis All | ₹15,000 | ₹37,500 | ₹75,000 |
| Bullions | ₹15,000 | ₹37,500 | ₹75,000 |
| Energy | ₹15,000 | ₹37,500 | ₹75,000 |
| Base Metals | ₹15,000 | ₹37,500 | ₹75,000 |
None of the eleven services offer a yearly plan, each marked “NA” with no explanation given.
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Identical Pricing Across Nearly Every Service
Ten of the eleven services charge exactly Rs.15,000 monthly and Rs.75,000 half-yearly, with quarterly pricing also largely identical across the board.
This makes it genuinely unclear whether these services offer different levels of research depth, coverage, or deliverables at all.
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No Service-Wise Description
The pricing page doesn’t clearly describe what’s actually included in each plan, making it difficult to understand the scope and deliverables of any individual service.
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Repetitive Service Descriptions
Several plans use similar or repetitive descriptions, leaving it unclear how one service differs from another, particularly across the cash, futures, options, and positional segments.
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No Explanation for the Missing Yearly Option
Every service skips a yearly plan entirely, with no indication of whether that’s a deliberate choice or simply an option not yet offered.
What Do Visual Research’s Conflicting Complaint Figures Reveal?
SEBI requires monthly complaint disclosure, updated regularly. Visual Research’s own disclosure has a significant gap worth understanding in full.
Annual Complaint Data
| Financial Year | Complaints Received | Complaints Resolved | Pending Complaints |
|---|---|---|---|
| 2023–24 | 0 | 0 | 0 |
| 2024–25 | 1 | 1 | 0 |
| 2025–26 | 1 | 1 | 0 |
The monthly complaint data on the website appears to stop at August 2023, despite the requirement for a Research Analyst to update this data every month.
That makes the monthly disclosure significantly outdated relative to the annual figures sitting on the same site.
The monthly table shows zero complaints for every month from October 2025 through September 2026, while the annual table records one complaint received and resolved in both FY2024-25 and FY2025-26.
That’s a direct mismatch between two tables describing the same firm.
Because the annual table indicates complaints occurred in both of those financial years, but the monthly disclosure doesn’t reflect them anywhere, there’s no way to independently verify when either complaint was actually received or resolved.
Although the annual table shows both complaints marked resolved, the outdated monthly disclosure provides no reliable month-wise record confirming when that resolution actually happened.
What Do Visual Research’s Promotional Claims Actually Show?
Several statements on the Visual Research website are worth reading carefully before you take them at face value.
- “Research, You Can Always Believe. Rely. Trust.” may create an impression of assured reliability rather than presenting a neutral description of research services.
- The firm states its team monitors the market “24/7” and can point out “each and every change in the market,” which could create unrealistic expectations about the extent of market monitoring and research accuracy any single team can genuinely deliver.
Website card promoting 24/7 live chat support and instant assistance claims - The claim that live updates help clients open and close positions at the “right time” may imply an ability to consistently identify optimal entry and exit points.
- The statement “you can expect only the good service” is promotional and doesn’t provide objective information that would let an investor actually assess service quality.
Website about us section highlighting services and management team claims
The social media links on the site lead to generic platform homepages, not identifiable Visual Research profiles, making it difficult to verify the firm’s actual social media presence at all.
Not sure whether Visual Research’s pricing structure or its complaint disclosure gap raises a genuine issue worth reporting?
We check the specifics against what SEBI actually requires and tell you plainly where things stand. Register with us for a free consultation.
How to File a Complaint Against Visual Research?
If your experience doesn’t match what Visual Research promised, whether around the identical pricing across services or an unresolved issue not reflected in the firm’s outdated complaint table, there’s a structured way to raise it.
Document your subscription, the exact service purchased, and any communication with the firm before escalating.
If that doesn’t resolve things, file a SCORES SEBI complaint citing registration number INH000012786 directly.
Should that not produce a resolution, the SMART ODR portal offers a structured, mediated route.
If mediation doesn’t settle the matter, formal arbitration in share market remains available as a final, binding step.
For the complete process specific to a Research Analyst complaint, our guide on SEBI complaint against research analyst walks through every stage in depth.
Conclusion
Visual Research’s core registration is genuine. INH000012786 is real, active, and held by Satish Pandey.
What doesn’t sit as cleanly is everything around it. Eleven services priced almost identically, with no explanation of how they actually differ.
A monthly complaint disclosure that stopped updating in August 2023, while the annual table on the same site reports complaints through FY2025-26.
None of this proves deliberate wrongdoing on its own. Together, it’s worth asking Visual Research to clarify directly before you subscribe to any of its services.
Report. Recover. Stay Fraud Free.
Legal Disclaimer
This blog is based on Visual Research’s own published materials and independently verified SEBI records. No SEBI action has been issued against Visual Research or Satish Pandey as of date of writing, and we make no independent claims about the firm’s legitimacy beyond what these sources confirm.
Frequently Asked Questions
Yes. Registration number INH000012786, held by Satish Pandey, is confirmed active, with perpetual validity from August 30, 2023.
That's unclear, and worth asking the firm directly. Ten of eleven services charge the same monthly and half-yearly rate, with no service-wise description explaining the difference in coverage or deliverables.
That isn't explained anywhere on the site. The annual table reports complaints as recent as FY2025-26, but the monthly breakdown hasn't been updated since August 2023.
No. All eleven services list their yearly option as "NA," with no explanation given for why.
