L&T – Bluechip, Value play, Digital giant in making

I believe it to be a good hypothesis. They have under utilised defence capacity from guns to ship making. But defence deals have political dimensions and long gestation to signing. even signing a deal doesn’t mean anything, payment for delivery matters. If you look at HAL, BEL, all of them sign deals 1000s of crores, doesn’t immediately reflect in balance sheet revenues. Probably why, analysts focus on engineering services for roads, power, utilities, buildings, Metros etc as they have a timeline

I’m invested in L&T, so my biases are there and certainly not a recco to buy or sell.