Thermax reported standalone revenue of | 1167.7 crore, registering robust growth of 37.5% YoY (on a proforma basis, including B&H; business), while consolidated revenue grew 34% to | 1392 crore YoY predominantly led by 45% growth in domestic and 9-10% growth in the international business. Proforma EBITDA came in at | 71.2 crore, up 21.4% YoY (vs. our estimate of | 68.9 crore) while the EBIDTA margin declined 80 bps owing to a morethan-expected increase in total operating expenses. PAT came in at | 49.9 crore, up 11.1% YoY. The consolidated order inflow for the quarter was at | 1217 crore (| 1652 crore in Q1FY19), down 26% YoY due to ongoing...