Order backlog providing robust revenue visibility: Order backlog as on date stands at INR85.9b (+26% YoY in 4QFY19), with order inflow of INR13.1b (-21% YoY). VATW has also signed framework contracts worth INR7b, which will get converted into firm orders after receiving advance from customers. The current order backlog provides strong revenue visibility of INR3.1x its FY19 revenue. VATW won two orders under the Namami Gange scheme worth INR10b, which will entail equity investment of INR150m. Issues revenue and order inflow guidance for FY20: Management has issued...