Consol. revenue grew 26% YoY to INR24.0b in 3QFY18. All business segments, excluding cables, registered strong growth. Cables business during the quarter was impacted by a higher GST rate of 28%. T&D business (including SAE)registered 23.4% growth YoY, while Railways grew by 99% YoY and Civil by321% YoY. T&D contributed 77% of revenue, followed by Cables (11%),Railways (9%) and Solar, Civil and Water (5 %). Management guided for revenue growth of 15-20% in FY19, which will be supported by a pick-up in execution of T&D orders in hand and strong growth in non-T&D segments.