1.2xCY17, one could argue, bodes well. That may not be the case, however. With 50% of orders skewed to medium to long cycle, the revenue recognition may shift to a stretched timeline. The 8.3% YoY growth in Q1CY17 revenue to Rs.21.6bn may continue in tepid pace. Further, transition to IND AS, changing revenue mix and provisions may spoil the EBITDA for days to come. This was evident in the flat EBITDA of Rs.1.7bn. This bodes no well. This, in turn, will translate in lower revenues and lower profitability. Adding to that, ABB India, for yet another time, has reclassified its segmental reporting....