Strong performance: KECI reported revenues at Rs24bn (+26% yoy, +13% qoq), driven by strong execution in T&D; (Rs15bn, +20% yoy), SAE (Rs3bn, +41% yoy) and Railways (Rs2bn, +98% yoy). The Civil segment also reported robust growth at Rs870mn (up by 335% yoy) albeit on a low base. Revenue in the Solar segment declined by 42% yoy to Rs340mn, impacted by frequent changes in policies. Revenue in the Cable segment declined by 2% yoy to Rs2.7bn. EBIDTAM increased by 64bps yoy to 10.1%. APAT increased by 78% yoy to Rs1.11bn. Order inflow more than doubled to Rs55bn (+105% yoy) T&D; (excl. SAE) Rs24bn (+25% yoy), SAE Rs1.5bn (+150% yoy), Cables Rs2.7...