Ayush Varma

Navigating markets by day, coding ethical AI by night | CS student | Words @ Substack & Medium

[Ayush Varma @patchgalactic]

Guess people don't take what you write seriously until they see the money.
So here's my #Skygold holding🌟
#PortfolioUpdate

[Ayush Varma @patchgalactic]

@gathint Could you add support for WebOS for LG too? @gathint
Would love to try it out!

[Ayush Varma @patchgalactic]

Sky Gold crossed ₹1,000 today.

Bought around ₹300 in 2024. Held because every quarterly result said stay, whatever the price said.

The business got there first. The price arrived last.
#SkyGold

https://t.co/JT0BHVQUWj

[Ayush Varma @patchgalactic]

@LifeOfAPunekar @tirthankardas81 I wrote in length about skygold!
Hope this helps and answers you about its business
https://t.co/rGZ5qejn5b

[Ayush Varma @patchgalactic]

@prateek_madaan1 I had a similar story with #TrustFintech and #KoreDigital, both being a bogus like you mentioned!

[Ayush Varma @patchgalactic]

@RamalMediaX Would you mind sharing the wallpaper?
Absolutely love it!

[Ayush Varma @patchgalactic]

@shirazisme Thank you!

[Ayush Varma @patchgalactic]

It feels so good to see how #Skygold has rewarded my patience. I kept on buying it during its consolidation phase.
First 7 digit profit ⭐️🙏

[Ayush Varma @patchgalactic]

Guess people don't take what you write seriously until they see the money.
So here's my #Skygold holding🌟
#PortfolioUpdate

[Ayush Varma @patchgalactic]

@UppundaKir90763 Should be good, like always! 😇🌟

[Ayush Varma @patchgalactic]

The market isn't pricing the wealth #Groww manages today. It's pricing the wealth it might manage tomorrow.

If that engine stalls, the repricing won't be gentle. Until then, velocity rules.

Full breakdown here:
https://t.co/srMtdhBhqH

[Ayush Varma @patchgalactic]

#Groww built its brand on killing brokerage. Now it's quietly building an exit from brokerage itself.

A teardown of underneath these growth numbers

#Groww #wealthmanagement #capitalmarkets

[Ayush Varma @patchgalactic]

The valuation tension in one picture.

#Groww trades near ~50x earnings. Pure wealth managers like #Nuvama and #360One trade in the 30s. Traditional brokers like Angel One sit in the high 20s.

Groww is priced above the brokers. But by revenue, it's still overwhelmingly a broker

[Ayush Varma @patchgalactic]

Management won't even give a revenue number, just tonnes: iron ore to 26MT, pellets to ~8MT, DRI nearly doubling.
Full deep dive:
https://t.co/lxZsf9LgF2

[Ayush Varma @patchgalactic]

#LloydsMetals ran from ₹30 to ₹1,940.
Everyone's watching the price.
Almost nobody's watching the pipeline.
#Mining #Metals #Lloyds

[Ayush Varma @patchgalactic]

Result: operating margin went from low 20s to low 40s in a year.
Not efficiency. They stopped selling dirt and started selling pellets, moved by pipe.
#LloydsMetals #Mining #Metals #Lloyds