Tag: LEEL

Management Intentions can’t be calculated in Excel

In the year 2018, I have been rubbed wrongly thrice now by controlling stakeholders (Management)

  • Fraudulent disclosures (ASX GSX)
  • Ungainful dilution (ASX LBT)
  • and now this one ..

this is my learning from investing in LEEL electricals.

I created this position at ~1100 crore, My initial thought process was company has sold its consumer division for an enterprise value of Rs. 1550 crores, on debt free cash free basis.

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The overall borrowings were ~1000 crores after paying off everything they would still have ~550 crores and a business left
I was paying 550 crores and getting a business with sales
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