While ACIL lost revenue of Rs120mn (including Rs30mn due to non-billing) due to transitory impact of GST, a 15% YoY growth in top-line to Rs3.3bn reflects a decent execution despite seasonal overhang. Further, EBITDA grew by 24% YoY to Rs498 and margin stood at a robust 14.9% mainly on account of inventory/stock adjustments. However, as GST hurdles seem to be behind and considering likely pick-up in execution from new projects, ACIL has upwardly...