Looks an interesting company. Strangely never heard of it and neither of bajaj electricals EPC business prior to demerger…Voltas also has EPC business and we hear a lot about it…maybe I didnt follow bajaj electricals well…
Some thoughts and would be good to know your views…
- For Voltas, EPC part has always been a struggling business. When entire power spectrum in market making new highs, not sure why the EPC part of these businesses not doing good.
- How should one value the EPC business…which is closest competetor for Bajel or even the EPC part of Voltas?
- Is EPC part of Voltas same as Bajel?
- Bajaj electricals has mcap of around 11k crores and Bajel at present as around 2K crores…in this context is 2k crore cheap or expensive? How to see value here…
- In one of your points I saw this is 15 years old business of bajaj electricals…Now should we take it as positive or negative…positive being it has a history & experience to look at and negative that even after 15 years the order book is only around 1500 crore? Is this really negative or not? Maybe with demerger the focus on this business increase…not sure…
- Was checking on new MD…he has all his experience in oil & gas companies rather than electricals, power or infra…not sure if right fit…I maybe wrong…
Thanks for always introducing new interesting companies to look at
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