I have goen through June -23 con call transcript.
Over all I find it solid turn around and sustainable growth story for next 2-3 yers
+ve:
Good healthy order book
Management focus on EP order (avpoiding Constuction part as much as possible) i.e will help in improving margins
Also Semicondutor and Hydrogen production will be added booster for the business
Order do have long term maainternce contract which will make revenue more predictable
most important VA Tech is on ESG theme if the perfromance contuine for next 2 qtr definately it will be good rerating candidate. for now I think its PE is 15 only as last qty they have written-off approx 240 Cr receivable.
Over all I think workst is over and good performance has already started and I think in next 12-18 month if it shows similar to last qtr(excuding write off) than it will be re rated to 25X PE for 38 to 45 EPS.
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