Vikram – most of this is not true. In fact I don’t even think SNS should be allowed to continue as he has failed the shareholders on most fronts.
First was his rant about executives not looking at their wives on Sunday and coming to work instead.
Second he has converted the EPC business to PC with no engg. The company is staffed by third rate engineers doing fourth rate work. I don’t think even one iit btech has joined L&T since he took over.
Third most global investments and diversifications have been a disaster. Most booked projects in the Middle East have been either bombed or abandoned.
Fourth even old clients like Reliance no longer buy equipment from them. Their heavy engg business is in deep distress because of underinvestment and refusal to invest in R&D
Fifth they are getting into businesses like gold loans and real estate development by buying land banks – areas that do not befit the stature of an engg company.
Sixth data centre business is just becoming a meal ticket for Nvidia. They have zero competency in the area compared to a neysa or an ionique.
But in general I love your posts and hear good things about ivycap. Keep it up, Vikram.
