Bunching up of orders in T&D; segment in H2FY18 and H1FY19 impacted execution, leading to a 12.4% fall in revenues in H1FY19. Going ahead, orders entering the execution stage will help KEC report high double digit revenue growth in H2FY19 in the T&D; segment. On the positive side, inflows have grown 38% YoY to | 7932 crore. The management is optimistic of 10-15% YoY growth in the same for FY19E. Overall, we expect consolidated revenues to grow at 14.6% CAGR in FY18-20E....