Revenue growth of ~15% YoY driven by PE pipes and composite cylinders categories where topline grew 42% and 29% YoY, respectively. The management has reiterated strong order book position in these categories while the growth momentum would continue in FY20E. Plastic product category (contributes ~70% in topline) grew ~12% YoY led by a revival in demand of plastic drums from the chemical sector. We model revenue CAGR of ~13% in FY19-21E (lower than management guidance of 15%) led by ~20% and 10% revenue CAGR in the VAP and established product...