Results in-line at operating level: Consol. sales grew 14% YoY to INR8.9b, below our estimate of INR9.7b. Revenue growth was supported by a pick-up in execution of key orders like Petronas, Polgawela and AMAS (Bahrain). Standalone sales rose 12% YoY to INR5.1b, while subsidiary sales grew 17% YoY to INR3.8b. Consol. EBITDA grew 41% YoY to INR0.8b, with the margin of 9.3% (+181bp YoY) above our estimate of 8.4%. Consol. recurring profit of INR388m was in line with our estimate of INR396m. Order backlog of INR71b provides robust revenue visibility: In 2QFY18, consol....