A scientist prepares test tubes ahead of testing inside the laboratory (Photographer: Krisztian Bocsi/Bloomberg)

Traders Carnival: Success Is All About Risk-Taking, Thyrocare’s Velumani Says

In order to be successful, you have to take risks. This oft-repeated formula seems to have worked for A Velumani, chairman and managing director of Thyrocare Technologies Ltd. The company, which started with a capital of Rs 2 lakh, now has a market capitalisation of over Rs 3,200 crore.

“I decided to do thyroid tests at Rs 100 when everybody else was doing it at Rs 500 and PET CT for cancer diagnostics at Rs 10,000 when everyone else was charging Rs 25,000,” Velumani told participants at the Traders Carnival.

Thyrocare, a diagnostics centre and pathology lab, began operations with a 200-square-feet rented garage in south Mumbai. Today it owns two buildings of over 4 lakh square feet, besides 15 acres of land in Mumbai, Velumani said. “If you plan to lose, you will never lose but if you are scared of loss, you will never get anything.”

Watch the full session here: