Vanaja Sundar Iyer, one of the most followed super investors of India is a well-known name in the investor fraternity. This woman Warren Buffett of India is widely known for her community service and mentoring initiatives. But smart investors look at her for her strategic picks from varied sectors like automobiles, industrial manufacturing, and real estate.
Currently she holds 14 stocks in her portfolio, with a worth of Rs 1,164 cr (as per Trendlyne). But 2 of these 14, which she bought in the last 12 months, have caught the attention of investors, given that they are both trading at a discount of over 37%.
The big question investors: Is this a massive opportunity to get into cheap stocks trusted by Iyer, or will it be a mistake in hindsight? Let us look at these 2 stocks.
#1 Bajaj Healthcare: The turnaround bet trading at a 43% discount
Incorporated in 1993, Bajaj Healthcare Ltd manufactures a wide range of Active Pharmaceutical Ingredients and Formulations.
With a market cap of Rs 1,352 cr, the company is focused on development, supply, manufacturing of Amino Acids, Nutritional Supplements and Active Pharma Ingredients for Pharmaceutical, Nutraceuticals and Food industries.
Vanaja Iyer bought a 2.06% stake in Bajaj Healthcare as per the filings for the quarter ending December 2024, which has now gone up to 2.2%, making the holding worth almost Rs 30cr.
Looking at the financials, the company’s sales saw growth between FY20 and FY22 but then recorded drops in FY23 and FY24. However, FY25 once again saw sales jumping back up.
| Year | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
| Sales/Cr | 410 | 657 | 680 | 646 | 473 | 543 |
For the first half of FY26, the company has recorded sales of Rs 297 cr already.
The EBITDA (earnings before interest, taxes, depreciation, and amortization) also recorded ups and down in the similar pattern to that of the sales.
| Year | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
| EBITDA/Cr | 48 | 136 | 119 | 112 | 76 | 82 |
For the first half of FY26, EBITDA logged was Rs 52 cr.
The net profits saw a rocky road with a lot of ups and downs, with FY24 recording losses. But the company once again bounced back in FY25.
| Year | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
| Profits/Cr | 25 | 83 | 71 | 43 | -84 | 40 |
For the first half of FY26, profits of Rs 23 cr were recorded already.
The share price of Bajaj Healthcare Ltd was around Rs 230 in November 2020, and as of closing on 27th November 2025 the price was Rs 427, which is a jump of 85%.
At the current price of Rs 427, the stock is trading at a discount of almost 43% from its all-time high price of Rs 745.
The company’s share is trading at a PE of 26x, while the current industry median is 31x. The 10-Year median PE for the company is 19x and the industry median for the same period is 27x.
In the company’s latest investor presentation from October 2025, Managing Director Anil Jain said, “With a strong foundation, enhanced regulatory preparedness, and continued investment in R&D, we are well-positioned to sustain growth momentum and drive expansion across our API and formulations businesses. We have also strengthened our key management people with industry leaders across key divisions, enabling us to achieve sustainable and scalable growth. We remain committed to creating long-term value for the healthcare ecosystem and our stakeholders.”
#2 TCC Concept: The 3,000% multibagger with a Pepperfry Twist
Incorporated in 1984, TCC Concept Ltd is in the business of real estate services, property management services & renting or leasing services involving own or leased non-residential property.
With a market cap of Rs 1,771 cr, the company is a flexible office space aggregator in India. It functions as a premier real estate brokerage firm facilitating transactions, offering services for buying, selling, leasing and appraisal processes.
Vanaja Iyer bought a 1.86% stake in the company as per the filings for the quarter ending December 2024, and as of the quarter ending September 2025, this holding has fallen to 1.55% (Worth Rs 27.5 cr).
As for the financials, the company’s sales grew from Rs 1 cr in FY23 to Rs 83 cr in FY25, logging an enviable compound growth of an 811%. For the first half of FY26, the sales were already Rs 49 cr.
The EBITDA grew at a compound rate of 675% from Rs 1 cr in FY23 to Rs 60 cr in FY25. For the first 2 quarters of FY26, the EBITDA of Rs 39 cr is logged already.
The net profits were Rs 1 cr in FY23 which grew at a compounded rate of 550% to Rs 42 cr in FY25. For the first half of FY26, profits recorded were Rs 19 cr.
The share price of TCC Concept Ltd was around Rs 16 at listing in June 2023 and as of closing on 27th November 2025 it was Rs 496, which is a jump of 3,000% in just over 2 years.
Even with the impressive financials, the share at its current price of Rs 496 is trading at a discount of 38% from its all-time high price of Rs 798.
The stock is trading at a PE of 38x, and the industry median is 35x. While it would be too soon to look at the long-term median PE for TCC, the 10-year industry median is 24x.
The company is in the midst of executing a strategic acquisition of ~98.98% stake in Pepperfry Limited (India’s largest omnichannel furniture and home goods e-commerce marketplace) via a share-swap deal valued at Rs 661.47 cr. This involves issuing 1,18,55,560 equity shares at Rs 557.95 per share (including premium). The deal was approved by the Board on October 14, 2025, with updates on October 31, 2025, and an EGM held on November 5, 2025, for shareholder approval. Completion is targeted by December 15, 2025, subject to regulatory nods.
A Good Entry Point or a Red Flag?
Both the stocks we analysed today, TCC and Bajaj Healthcare, caught Vanaja Iyer’s attention in the last 12 months. However, fall in prices of both stocks have raised some very valid questions in the minds of investors.
Financials of both, Bajaj Healthcare and TCC have shown strong promise. While Bajaj healthcare saw some red in its books, it is now showing signs or recovery in terms of financials. On the other hand, TCC has recorded enviable financials and seems to be still going strong. On paper, both stocks seem to be moving towards a good end to this fiscal year.
That would only be speculation, as how these stocks will fare is something we will know with time. Will they be able to climb up again when it comes to price? Or were they landmines Iyer stepped on? It will be an interesting ride to track, just to ensure one does not miss out on any big opportunity. For now, adding them to a watchlist is a promising idea.
Disclaimer:
Note: We have relied on data from www.Screener.in and www.trendlyne.com throughout this article. Only in cases where the data was not available, have we used an alternate, but widely used and accepted source of information.
The purpose of this article is only to share interesting charts, data points and thought-provoking opinions. It is NOT a recommendation. If you wish to consider an investment, you are strongly advised to consult your advisor. This article is strictly for educative purposes only.
Suhel Khan has been a passionate follower of the markets for over a decade. During this period, He was an integral part of a leading Equity Research organisation based in Mumbai as the Head of Sales & Marketing. Presently, he is spending most of his time dissecting the investments and strategies of the Super Investors of India.
Disclosure: The writer and his dependents do not hold the stocks discussed in this article.
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