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Sahil Sharma Profile picture
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31 Jul, 4 tweets, 1 min read
Reading a concall. Very interesting. Image
Image
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People paying 100 pe for CS, be fearful , uupar wala dekh raha hai. πŸ˜‚ Image

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More from @sahil_vi

Sahil Sharma Profile picture
31 Jul
#IDFCFIRSTBank FIRST concall was right now. My key takeaways:

1. Credit costs of 2.5% in FY22, 2% in steady state.
In b/w lines: Bank has incremental NIMs of >9% which will support 2% credit costs. 1800cr provisions taken in Q1 represent a very conservative approach
A 850cr mumbai toll road account slipped into NPA due to covid lockdowns. There were partial payments. Expect it to come out of NPA post covid wave. VI exposure credit costs not included in 2.5% guidance.
2. Runway for growth is long
In b/w lines: Can grow loan book at 25% for a long time. Expecting 18-20% ROE from retail lending alone in steady state. CASA will also continue to grow enough to support retail lending needs. Enough cash right now.
Read 9 tweets
Sahil Sharma Profile picture
30 Jul
#lauruslabs Q1 results key takeaways:
1. Diversification away from ARV

In b/w lines:
Currently 85% of filings in US/EU are ARV. This represents 11B$ of market opportunity.
But products under development (which represent 37B$ of opportunity) are skewed 80/20 for non-arv.
2. CDMO segment growth can surprise on upside.

In b/w lines:
the 195cr revenue in Q1 did not contain any one-offs. This represents a very good growth YoY growth of ~100%. Generally Q4 is strongest and Q1 this time was even higher. Only 4 products commercialised.
Huge potential for the 40+ products in pipeline. expecting this to drive growth in US and EU markets.

3. ARV market share gains to be limited
Read 5 tweets
Sahil Sharma Profile picture
30 Jul
Mega 🧡 on Tatva Chintan.

What excites me. What is the biz. What am i gonna do about the co.

Now that company is listed with around πŸ’―%+ gains, probably a good time to understand #tatvachintan

Let’s dive right in.
Products.

First let us understand the types of products the company makes. This is a chemicals company. The primary line of products they are into is called PTC: Phase transfer agents. Before I explain what that is, let us do a small dive into chemistry.
The basic building blocks of matter (everything around you) are atoms. They come in 118 flavors, called elements. The water you drive is made of 2 Hydrogen atoms & 1 Oxygen atom: H2O.
Read 36 tweets
Sahil Sharma Profile picture
25 Jul
Although question was addressed to Tariq, who answered it beautifully just wanted to add my thoughts:
Future belongs to those who specialise. Whether we look at doctors or engineers, everyone wants a specialist not a generalist.
Why should companies be any different?
Everyone in value chain has a specific function.

Cdmo does not do the research, so many innovators keep the research (discovery of candidate good enough for phase 1 trial) in house & outsouce the cumbersome development and manufacturing
Some others even outsource the research & become collaborators and move up the value chain. This is where syngene and similar CRO come into the picture.

As a junior engineer you start out writing thousands of lines of code every quarter.
Read 11 tweets
Sahil Sharma Profile picture
17 Jul
With seasoned investors like @LuckyInvest_AK sir talking about platform businesses I feel motivated to start a 🧡🧡 on discussing, analyzing & understanding platform businesses. Read on to learn more.
Quick question before we begin. Would you rather :
I hope your answer was the 1st one because I am not a fish seller. Please don't expect my threads to **always** contain investment ideas. My broader goal is to empower each person learn to see reality a little bit clearly. To enable you to learn to fish.
Read 121 tweets
Sahil Sharma Profile picture
17 Jul
Given the 1:1 nature of DMs I have been thinking about ways of engaging with my followers that are more efficient, scale better & are more democratic.
I feel bad about not being able to answer all of them DMs.

Here is an experiment I propose:
1. Once in every K weeks I will create a twitter 'AMA' thread which everyone can post their questions/comments to for a week after which I will answer some of them based on signals like # of likes (this means it affects more investors) or my own discretion of what might help most
2. This enables people to engage with each other & benefit from the wisdom of everyone on twitter & my 7k followers rather than just asking me : 1 unscalable biased human. 1:1 => m:n (many to many).
Read 7 tweets

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