How did Dr Velumani turn Thyrocare into a 3000 crore company? : Thyrocare case study
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VIDEO INTRODUCTION: Diabetes and Thyroid have been 2 of the fastest-growing diseases in the country. According to the International Diabetes Federation (IDF), India had 77 million (say with impact) adults living with diabetes in 2019. And about 42 million people in India have thyroid-related issues. In fact, India is known as the diabetes capital of the world.
and back in 1995, if you had to get your thyroid testing done, it would have cost you 500Rs which is equivalent to 2800Rs in today's money, now for a country where 90% of the people still earn less than 30,000Rs in 2023, 500Rs in 1995 was a big big deal!!!
But you know what, one man named Dr Velumani did something so revolutionary that he brought down the cost of thyroid tests by 5 times to just 100Rs!!
and with just 1.1 Lakh in savings, this man built such a legendary company that today this company is worth more than 5000 crores!!
This company that I am talking about is none other than Thyrocare Technologies. and dr velumani turned Thyrocare into such a legend that, it went on to compete with a 6000-crore company like SRL Diagnostics and an 18,000-crore company like Lal path labs!!! If you look at this chart, when Thyrocare went IPO, Dr Lal path lab's EBITDA margin stood at 28%, srl diagnostics stood at 18%, whereas Thryocare stood at an EBITDA margin of 47%!!!
The question how did Dr Velumani manage to build a 5000 crore company with just 1.1 Lakh in savings?
How was he able to bring down the cost of Thyroid tests by 5 times and still make a profit?
How did he manage to challenge the big boys like Dr Lal and SRL?
and what are the business lessons that we need to learn from this iconic Indian company?
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I request you to not change the thumbnail, this is a perfect, classy and old Think School (business case studies) thumbnail, please keep it
Yea
Surprise it doesnt have Modi's picture on it 😂😂
And it got changed 😂
@@utsavprabhakar5072muh me lelo isi baat pe😂
@@utsavprabhakar5072do u want pappu`s picture there?
As a student of Biomedicine, I can truly understand how wonderful their strategy is! Please do more such healthcare related case studies.
As a doctor I can say this is truly a propaganda
Price of health are has not come.e down at all
As a student of CZcams , I can truly understand how beautiful the commentator looks 😍😍
Testing costs surely have come down (not true for in-house testings at hospitals) It is the hospitals that price everything in a predatory manner.. that's keeps healthcare costs shockingly high.
@@zhinkunakur4751 nah bro u down bad 💀
As a medical student i can confirm that their marketing is also superb.
We can see their promotions, gift items, seminars literally everywhere.
Honestly, that's not ideally wanted if a company end goal is to make services affordable and also do tell that now with the PharmEasy labs their accuracy is awful, either patient gets miss diagnosed or have to rerun the tests for confirmation, idk how it helps.
I personally don't trust them anymore and specifically let patients know of other alternatives when they ask for suggestions.
That’s so tongue and cheek. These large labs are crooks at the very best.
but their promotions are very very effective, hope Think School will get more subscribers !! ? (Thyrocare stock is falling)
As a medical student.. . I am 100% agree with this information
Thank you think school got to learn alot
I guess this is the only CZcams channel in India which is giving ton of knowledge and all the business strategies with crystal clear for free😅
I started my business by watching DR VELUMANI sir.. in 2020 & today I saw this video .. amazing work THINK SCHOOL 😊
Today your video was not just CZcams video but it was looking like a superhit documentary movie. From starting to end, every part of it was fabulous even I'm not a medical student but I get it more clearly, you are great 😃
I want to see this in radiology labs too by some company one day. These equipments are very costly and one have to travel kilometers to have a test done for MRI or CT Scan. If any company can bring down these tests to even 1000inr, I would call that a success.
Not going to happen since Healthcare is also looked as demand and supply due to CT and MRI machines cost crores of rupees and reverse funnel is applied to recover the cost.
@@abhishekbodke3004but if the cost is reduced testing can be done more frequently after cost cuts even at private settings specially by middle income strata…invariably increasing revenue!
@@akshaysharma8940would you do it? 1.5T MRI scanner comes at a cost of 2cr. 4T the state of the art, by siemens cost 5cr+. Tell me how will you make a profit on such a business doing MRI under 1k per patient. Each MRI session takes 45min approx and 3-4 attendants to run.
@@akshaysharma8940cheaper testing more testing leads to over treatment. That's why rich people get over treated while poor people can't even get basic tests reliably.
Testing costs aren't the bottleneck.
Purposeful and deliberate running down of govt hospitals is the reason.
For the Air transport cost which you have mentioned, at 17:05, I guess their arrangement of samples in the containers does make a difference to fit in more ones in a single box, for which they could transport more samples, on the same day, within a set number of boxes.
Case study on Bharat Forge as it is Indias largest and world's second largest Forging giant also now in defence industry too. Thank you thinkschool for amazing case studies.
Much required case study for Health entrepreneurs.. Thanks a ton
He can actually excel well in Pathology sector as well...... specifically in Histopath and forensic segments as we still hv demand in diagnosing PostOperative slides which are important in diagnosis and further management (as many would hv experienced in their lifetime.... misdiagnosis leading to grave circumstances), basically work from home assignments and extra pocket money for pathologists.
His PhD in Biochemistry is helping him a lot (applying his subject into his business.... Rare instances)
I remember test for arsenic in samples..... such tests are done only by Thyrocare and not other premium labs.
This how thyro care business model is similar to lenskart.
1. Lenskart also one manufacturing facility to manufacture the lens and High level of automation at there facility and so they achieve the economy of scale & low cost of production.
2. Similar to thyro care collection centre lens cart have physical store to try and test the frame of your glasses and select the vast variety.
3. Because of this thing Lenkart is also able to give glass cheaper rate
Think school is best and i am one of there early subscribers and the quality and quantity of there content is Improved very much. Thank You
Think school is back ❤ to it’s original glory. I’m super happy to see the business case study in the last few days. They last 2 case studies have been insanely helpful me. I indeed made notes & got some some really good core ideas which I’m gonna implement in the upcoming days. Hub & spoke model is indeed a game changer. 46% EBITA 😳 indeed deserves 👏👏. Thanks a lot to think school & ofcourse Ganesh for this insightful business lesson. You guys deserve a standing applause for this 🙏🏻. My 🧠 is buzzing with new ideas after watching this .
Old school Think School is back! Would like an analysis for Polycab as well.
I think the catch was that, he when worked in BARC, he learned something which could reduce the cost of thyroid testing. That gave him advantage over others and that is what made him think about hub and spoke model in which he don't have to give up the technology to others.
Mr. Deepanshu sir thankyou for your support for all coordination with your team.Thanks a lot
Your content is fantastic! Thanks for great insights
Would like to know if some if not all of the content you present is when brands approach you for promotions?
You may make a video on the Apollo hospitals. Because they brought the very first medical technologies to the India. And also there the very first corporate hospital in the India.
This is truly a beautiful soul...
wow what a video and in so much detail loved it
One more remarkable storytelling by Ganesh ❤
In this episode I learned how automation, supply chain and niche market helped thyrocare achieve magnificent EBITDA
Thank businesses and entreprenaurs for India's success. They make the lives of Indians better more than the Indian national government ever does.
6:31 You omitted a big part of pathology which is *surgical pathology* without which pathology is utterly incomplete. In fact, Lal Path has its core strength in this surgical pathology sector which others are far from covering.
Exactly why lal pathlabs will outrun any new wannabe.
This is why we don't trust srl thyrocare only lal path for serious tests.
According to me, they are adopting the strategy of entering into agreements with particular airlines by calculating the average number of orders they can get, and if they give a bulk and recurring order to the particular airlines, then they avail themselves of a low-cost benefit.
Hey think school.
Thank you for making this amazing case study.
I would also request you to look at edtech startup in neet pg domain and tell how marrow won 😅
This is so misleading... The most important thing in blood test or urine test or any other test is the time... If the time and the carrying process is not correct then the test results come out to be false.. the whole purpose of test is to get the correct Results. I myself bring a doctor used to send tests to thyrocare and they have one of the most errors form these big diagnostic centre.i have completely stopped sending them patients from then on.. I will not name any diagnostic centre as good as people will just to say you have agenda or profit sharing stuffs that's why you are promoting other diagnostic labs... But to all the people who are watching this video I want to convey that please go to the lab yourself and give your samples that's how you will get much reliable results. If you can't then it's a different story.. please understand the whole purpose of tests is to get correct results not to save money.I hope people get benefit from this.
Excellent post. Health tech and bio tech are under explored sectors by Indian startups whereas theres domestic and export market.
You guys should start a podcast! Id definitely watch u talk to revolutionaries
wow!😲
It is the one of the most valuable content I found on the internet.
This is enough inspiration to become entrepreneur
The numbers seem to be outdated. Today the margins have crashed to the 20%+ range. Cash flow isn’t very promising and hence the share value has plummeted from almost 1500 to half of that. Expect better research from you and also researching why the share values have crashed. This gives deeper insights
Start to end... only genuine information...just to the point! excellent!
A very nuanced analysis. Most important is that preventive care tests for thyroid and diabetes are made affordable apart from the business it gets. Happy to see such subjects discussed but at the same time worried that India is the diabetes capital in the world.
you give good competition to the school I spent millions on my business degree
Well Explained bro 🙌❣️
Was expecting this one ❤
I studied this company almost 6 years back and watching this video makes me realise how wonderfully Thyrocare is growing and excelling in the market!
#ThinkSchool once again proved❤
Niche marketing, effective scm, innovation.
தமிழனுக்கு தமிழ் நாட்டில் தவிர செல்லுமிடமெல்லாம் சிற்பு
புதியதன்று
Fantastic presentation!
You are fabulous man …I learned lots of things from you ❤❤❤
Fabulous Explanation !!
great explanation , ganesh bhaiya
Got Best experience.Thank you
from where you learn this type of researching and presenting technique. Your videos are super exciting nd your presentation skills with animations skill and background sound are super amazing.
Keep it Simple and effective...thats the lesson
It doesn't matter if you buy health insurance at early age, as chances of being ill at that age is way too less, and the yearly premium kept on increasing but the insured amount remains same.
Thank you ❤
sir please bring a case study on vip industries,how hiranandani developed powai because i have a great fascination for your channel and being a 17 year old iyou provide me with valuable insights to how does corporate world works thank you ganesh dada
If an individual like Dr.Velumani can do such a revolution in the diagnostic market, Govt can do much better know? Govt has to take his consultation in modernizing our medical service to the nation.
really good analysis sir
Excellent, i want to learn about more such successful businesses 👏
@Manishasati thanks you for your support which you have given me and guided me about my policy which i have taken .
I'm very happy that you made me satisfied as you have already taught me and time which you have given me to make me understand...
Thank you so much Manisha ji
Bro ,next time add All 3 lessons in text animation, it easy take screenshot to refer later myself, how many of you Agree
insane case study 🔥
Being a biochemist every day i interact with many lab peoples especially for thyroid test competitors refer thyrocare oly now i understand business model out & out
Brilliant reel outsourcing
Inspiring :) medical science development at it's best
Just recenlty left thyrocare as an sde was really a great experience on how at old time they were able to build this much of it
I love your case study which not only helps us in academic but also in terms to invest for further...
I would request if we can see a case study of CCD (Cafe coffee day) rise, fall and then a growth year by year.. anytime in near future. Thank you in advance...
Today, the biggest problem is the authenticity and reliability of the test result..
By my own experience, i always have doubts about the test result because it varies day to day and lab to lab and also brand to brand..
This makes really serious worry ...
Fraudulent tests, this hub needs to be audited and screened quarterly.
Thanks for covering great content.
Could you cover the economics of Casino business model and how government tax them ?
Thank you Bikram Jeet Singh, you are a good claim manager
As an investor, this brought a smile to my face. I had done all this research months ago and invested in Thyrocare Technologies stock. It'll be a multibagger even from this point in time. Glad to see more proof that my decision and research was on point.
I was working in thyrocare laboratories in the Gulf. It was an empire in the truest sense of the word
Encouraging to make reels out of this is great!!
Sir, please make a video on rise of Yuan. And the emerging geo-economics. What challanges it can pose to Indian trade, forex and to rupee? 🙏🙏🙏
Its a great video and appreciate your efforts :). One thing to note, you have mentioned financials only till ~2018, it will be helpful if you could have referred to their current financials. As you might know, their stock is struggling since they got acquired by PharmEasy.. I really thought you will touch base on the acquisition and comment the pros/cons of it. Nevermind, this is a very helpful video, thanks for doing it.
The numbers are completely outdated. Post acquisition (majority stake) of Thyrocare by API Holdings (parent company of Pharmeasy), the valuation had dropped more than half and currently stands at 3097 Crs. The company’s profit margins, which ones were more than 50% are now only 18%.
Part 2 of this video can be: *How Pharmeasy's acquisition destroyed Thyrocare?* 😃
Hello I have been seeing case studies from you for a long time. A request for you from my side can you make a case study on mankind Pharma also.
This is incredible!!
Please do a case study on Indian Biotech industry and it's future
Please do make a business case study of Narayana health( Narayana hrudayalaya) started by Dr Devi Shetty, he is known as the Henry ford for heart surgery. Making the most affordable place for heart surgery along with making it more accessible to thousands of people around the world. Also tell us about 'Yashasvini scheme' he started in association of govt of Karnataka, which is probably the cheapest health insurance for the poor and farmers of Karnataka, which is helping millions of families in Karnataka.
INNOVATION ALWAYS MAKES HISTORY ❤️❤️❤️
I haven't seen any major Competitor's for Bookmyshow. Thousands of start-ups are emerging in India every year, why there is no competition for BMS ??
Can you please do a detailed video ln this.
Business strategy of BMS
There are soem problems also in this model
There are very few labs, transportation take time and customer has to wait more for getting result.
By choosing 200 test only they restrict their growth also.
Top level content as usual ❤️
Well the stock is almost 60% down. B2B model is always dependent and struggle at bad times cutting the margins.
I don't think you can find a better Explanation of Hub and Spoke Model any time soon on you tube. In the future can you please make a case study on Kanban.
Your focus was on Business model but what about the reliability of tests done at Thyrocare?? Do Doctors approve & rely on them is a big question ❓ Need to focus on this aspect also. Many visit Thyrocare centre because of affordability.
Should also mention how simple Dr.Velumani is.. last month he tweeted about taking mumbai local to save time.
Bivramjeet singh 100% help ful this person and solve my all problems easily thank you sir
If this channel would have existed during my MBA time I would have got gold medal students award
Wonderful!❤️🔥
Thank you ❤❤❤❤ sirr
Could you please do case study in Edible Oil business.
And how Adani Wilmar is one of the leader in this business...
Last me dill jeet liya brother
Stock down by around 70% from its all time high despite high ROCE numbers. Insane.
Thats because promotors songs their stake
thanks for such insightfull content bro, request you to do godrej case study
Thyrocare market cap is just 3.1k CR rupees. It is less than its competitors.
Hoping for a wonder pill or treatment for the permanent cure of diabetes.
e-tailers can learn from velumani to reduce cost of transportation.
Very nicely done
broh if you're interested in "how it works"........... please make a video on HUL how it works
Thyrocare first Automated testing lab The Health Revolution of India using Hub and Spoke model The Thyrocare Founder Dr. Velumani testing labs innovation on psychology and Bio chemistry lab and Central processing units in Mumbai Thyrocare labs with 200 Test with cost less efficiency in medical testing Preventive care Treatment Think school 🏫 Case studies ❤ Thyrocare Test labs business innovation in medical field The owner from Tamilnadu Dr.Velumani shinning in medical testing labs all over India. Thyrocare lab 🧫 Health Revolution of India தமிழன் தமிழ்நாட்டில் தவிர செல்லும் இடம் எல்லாம் சிறப்பு
Can you make some videos on Business case Study on some startups ??
Can you shed more light on How did he started with 1.1lakhs and step by step growth?
Want more business related case studies on healthcare sector
Make a video about Narayana Health Hospitals founded by Dr.Devi Shetty