Q1 seasonally smallest, but moving in the right direction. The debt level is also decreasing well, and the average interest rate on loans is falling along with the general decline in interest rates.
L&T makes an adjusted operating profit of over 50 million annually without Sweden’s loss-making blunders. Quite good upside leverage if one considers that the company’s market value is around 350 million. Just needs to do things less stupidly than before, and there’s a possibility for quite good value creation.
A value investor’s junk stock.