Dear Investors,
Continuing with the theme of Investor Rewards Fortnight, JainMatrix Investments is proud to present its fifth reward Report, L&T: At the Business Crossroads. The entire report is published here, for the first time in public, for your benefit.
Readers may note that the share has appreciated by 65% since my Buy call 17 months ago. Another good pick from JainMatrix Investments.Click on LINK below to see this research report.
Happy Investing,
Punit Jain
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- Date: 22-Jan-13
- CMP: 1033 (adjusted for July 2013 bonus)
- Large Cap – Mkt Cap 96,000 crores
- Advice: Invest for the long term
JainMatrix Investments presents investors the complete report on Larsen & Toubro Ltd as part of the Investor Rewards Fortnight.
Summary
L&T is a buy at these levels. The key positives are:
- Diversified across a business verticals like Construction, Roads, Oil & Gas, Power, Fertilizer, Ship Building, Water, Railways, IT and Finance, & a big international presence.
- Management has a reputation for excellence and professionalism.
- Good growth with Revenues, EBITDA and PAT gaining 22%, 31% and 20% CAGR over 5 years.
- Valuation is below historical averages. The share is 32% below highs from 5 years ago.
The negatives are
- Expected share performance is dependent on domestic economic and investment recovery.
- Early signs of stress in the balance sheet due to high…
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