Order inflow grew by 143% yoy to Rs43bn and the company is favourably placed (L1) in additional orders worth Rs170bn. Order backlog too increased by 15% yoy to Rs1.17tn. BHEL is focusing on ramping up its executable order book (~Rs980bn) to achieve better operating leverage as Rs190bn worth of orders are slowmoving. We value the stock at a P/E of 15x on FY20E EPS and ascribe a target...