Strong project pipeline provides comfort; Maintain Buy Consol. EBITDA of INR44.4b (-1% QoQ) in 4QFY19 was 10% ahead of our estimate, led by strong volumes and lower cost of production, partly offset by reduced realizations. This, along with other income (+43% QoQ), led to a 22% beat in consol. PAT (INR15.2b; -6% QoQ). Standalone volumes increased 17% QoQ to 4.29mt, led by exports (+1.6x...