KEC International Limited (KEC) revenues grew by 17% y-o-y driven by strong execution in T&D; business (domestic and international), where revenue grew by 30%, despite multiple challenges. SAE revenues doubled y-o-y due to three large order executions and it will continue to contribute strongly for next couple of quarters. The non-T&D; comprising railways, civil and other businesses came lower by 3% y-o-y, wherein railways saw a 35% y-o-y growth, whereas the civil segment saw a decline due to muted industrial capex. Blended operating margins remained...