Sriram Iyer

Equity Markets | Data & AI | Cloud Data Architect

[Sriram Iyer @siryierram]

It is rare to find teachers who genuinely focus on teaching you how to fish - those who genuinely and selflessly share their knowledge without holding back. Always Grateful 🙏🙏 @unseenvalue

[NDTV Profit News @NDTVProfit]

LAURUS LABS FIRST ON NDTV PROFIT

What's driving @LaurusLabs' confidence in its CDMO business?

Satyanarayan Chava discusses capex plans, peptide opportunities, global pharma partnerships, margin outlook and the company's long-term growth roadmap.

@TamannaInamdar @niraj_shah

[Sekhar @LearningEleven]

Laurus: Small molecules, CGT, Peptides, Fermentation, FDF, OLED and ADCs...

Now, they are adding more capabilities and very important ones!

1. Laurus is acquiring Canadian based Galenvs Sciences Inc

Galenvs is a CRO/ CDMO specializing in custom oligonucleotide synthesis and functional magnetic-nanoparticle (MNP) technologies for the diagnostics and therapeutics markets. It operates a vertically integrated platform spanning discovery, optimization, synthesis, purification, validation and pilot-scale production.

2. Laurus is acquiring Hyderabad based SI & C Resins Private Limited

SI&C specializes in the manufacturing and supply of high-quality polymer and silica-based products for the chemical, pharmaceutical, and biotechnology industries.

Wide range of products for various applications are as hereunder:

📌Peptide and Peptidomimetic Synthesis
📌Absorption and separation of the heavy metals
📌Oxidation and reduction of the functional groups
📌Counter – Ion exchange of small molecules and APIs

Global integrated powerhouse in making!

[Antifragile Thinking @unseenvalue]

Someone mocked me when #LaurusLabs was in a valley, with EBITDA margins falling from 32% in 2021 to around 15% a few quarters later.

The day Laurus announced poor results, they climbed onto their soapbox and asked:

“Where is the party tonight? London or Mumbai?”

All I have to say is this:

There is a party globally. In many small cities and towns. And there will be many more.

Ahmednagar. Surat. Savli. Hyderabad. Bengaluru. Vizag. Nagpur. Chennai. Pune. Kanpur. Jaunpur. Lucknow. Mumbai. Kashmir to Kanyakumari. London. Cities across the US and Europe. The Nordic region. ANZ to LatAm.

And for many families, this will mean something far more meaningful than a stock price.

A child’s education. A new home. Retirement. A holiday. A little more freedom. A little more security.

The people who quietly stayed through the valley may have their own parties to attend.

The real party is not on a trading floor. It is in the lives that get changed.

[Sriram Iyer @siryierram]

@unseenvalue ye toh bas ab jhalak hai!!! :) Party toh bilkul hogi!

[Sriram Iyer @siryierram]

@RelianceDigital @reliancejio @RIL_Updates - Reliance Digital support on extend warranty is bad and not as expected. Can you please help? No point raising using the app or speaking to customer support!

[Boring_Business @BoringBiz_]

Anthropic

2025 revenue: $4.6 billion
2025 net loss: -$42 billion
IPO valuation: $2 trillion

[Antifragile Thinking @unseenvalue]

You don't need a crash to lose ten years. Valuation is a silent stress test.

[ValueEquity @EquityValueIn]

Bajaj Healthcare , annual report notes , company has filed a total of 110 Cumulative DMF'S as of March 31st 2026 , last year that same number was 51 ( 2025 AR ) , seems that a lot has been happening on the inside here my notes :
1) progressively building a broader portfolio of internally developed APIs, specialized molecules and selectively integrated formulations where backward integration has helped create a competitive advantage.
2) Capacity utilization can improve, regulatory timelines remain long, the Nashik acquisition has yet to contribute operationally and export registrations will convert into revenues progressively. The next phase will therefore be judged by the Company’s ability to convert these assets and capabilities into recurring revenues, stronger utilization and improved cash generation.
3) Registrations completed during FY 2025-26 will therefore contribute progressively as approvals translate into commercial orders, nashik peptides pivot
4) Total employees trend: 2024-953 2025- 893 2026 - 1019

5) R&D expense : 0.4%, 1.1% and now 2.2% in F26 , at 13 crores

[ValueEquity @EquityValueIn]

Two notes I read every single morning , usually I keep this side of my personality on Substack , but I thought it might be useful

Steve jobes and Man in the Arena

[ValueEquity @EquityValueIn]

Solara Active Pharma , they have filed the second DMF after a gap of 3 years with the USFDA Called Valbenazine and a few more interesting filings in the EU

Valbenazine (sold under the brand name Ingrezza) is a prescription medication used to treat adult movement disorders( US Top Innovator : Neurocrine Bio, under patent )

Valbenazine is protected by multiple patents held by Neurocrine Biosciences, including the core compound patent U.S. Patent No. 8,039,627, alongside over 20 secondary and formulation patents covering its salts, polymorphs, and methods of use

Valbenazine is potentially a much more interesting signal than a routine filing for Solara, particularly given the company's stated plan to revive its R&D pipeline. But the investment significance depends on what exactly Solara filed and whether it can win commercial supply.

The key distinction is that Valbenazine is a specialty CNS (central nervous system) API, rather than a mature, high-volume molecule such as ibuprofen. That makes it worth investigating as a potential move up the value chain.

In its Q4 FY26 earnings call, Solara's management acknowledged that the company had spent approximately ₹200 crore on R&D over the preceding four to five years but had not achieved meaningful new DMF filings during that period. Management said the R&D programme had now been refocused on commercially oriented products, with a target of four to five DMF filings annually. It expects meaningful revenue and margin contributions from this programme around FY29–FY30

If Valbenazine is part of the renewed programme, it is evidence of pipeline development—not yet evidence that the pipeline is generating returns. Its significance would increase materially if Solara can demonstrate that customers are qualifying the API and that commercial volumes are emerging

So again these are just steps in the right direction , because last 5 years have been tough from an incremental point of view in R&D for solara , but now they are starting to get their house in order and in my opinion may be preparing for a world beyond ibuprofen

only thing they have to prove is commercial runway post filings , but that now is on the management , steps are seeming in the right direction

source: internal research , no reco

[Antifragile Thinking @unseenvalue]

Four companies. Four different valuations. Four different economic realities.

One common north star: bigger, better, bolder.

Anthem Bio. Bajaj Healthcare. Kopran. RPG Life Sciences.

Met them at CPHI Milan. Different starting points, different paths, but a shared ambition to build better businesses.

Listed in alphabetical order. The interesting part lies in what makes each journey different.

[Antifragile Thinking @unseenvalue]

That line has stayed with me since CPHI Milan ...

[Antifragile Thinking @unseenvalue]

Non-CDMO Pharma today has better value compared to fake CDMOs (pinned X). Will buy 2 such tomorrow. No nonsense. No CDMO. Simple valuations. Simple management.

[Sriram Iyer @siryierram]

@unseenvalue Menu toh mast hai! Party aur bhi jam ke hogi... India, UK & Milan mein! 😄

Remember, from your LL office visits whether the staff canteen or CPHI Milan, the core value of taking care of employees & stakeholders never changed.

Cheap signaling? Haha, definitely not! 😄

[Antifragile Thinking @unseenvalue]

Obvious compounds into the price.
Unseen compounds into the surprise.

Weekend special coming soon ...

[Vivek @Vivek_Investor]

A goldmine for every serious student of investing.

Check it out guys.

https://t.co/IfPC8sarTR

[Antifragile Thinking @unseenvalue]

For years, I have written about uncertainty, investing, business and better decision-making.

Much of that thinking lived across different places.

Substack.
X.
Presentations.
Podcasts.
Books.

Today, it has a home.

Convexia.

A place for ideas on investing, decision-making and uncertainty.

The website is now live.

Explore The Pause. Read selected essays. Discover the books.

https://t.co/OC7LAQXRBS

[Antifragile Thinking @unseenvalue]

The real cost of India's data boom isn't wasted time.

It's the quiet erosion of our ability to wait.

Cheap mobile data has given millions of young Indians unlimited entertainment in their pockets. Every notification, every reel and every swipe offers an instant reward. The brain adapts. Over time, it begins to expect that every worthwhile experience should arrive immediately.

That is where the real damage begins.

Books ask you to stay with one idea for hours. Newspapers ask you to understand context instead of headlines. Learning a skill demands months of practice. Building a business takes years. Investing requires patience. None of these activities deliver dopamine every few seconds.

Scrolling does.

India reached the smartphone age long before it reached widespread prosperity. We imported the world's most addictive digital products while we were still trying to build human capital. The result is a strange mismatch. We have first-world levels of digital stimulation, but we are still a country that desperately needs first-generation learners, skilled workers, entrepreneurs, scientists and readers.

The opportunity cost is enormous.

Every hour spent mindlessly scrolling is an hour not spent building knowledge that compounds for decades.

Reading is different. A book slows the mind down. It strengthens attention, curiosity and independent thinking. Newspapers teach you to connect events instead of reacting to isolated headlines. Productive learning develops skills that increase your earning power for life.

These are all compound investments.

Social media mostly compounds for the platform.

A nation does not become rich because it consumes the world's most data. It becomes rich because its people accumulate knowledge, skills and productive habits.

Perhaps we are measuring the wrong statistic.

Instead of celebrating data consumption per person, we should ask a different question.

How many books does the average young Indian read every year? How much uninterrupted time do they spend learning something difficult?

Those numbers will tell us far more about India's future than gigabytes ever will.

[Sunil Gurjar, CFTe @sunilgurjar01]

Parag Parikh Explains Why Inflation is Good for Stocks!📊

[Sriram Iyer @siryierram]

@Asan_research 0