(a) Gas & Power revenue grew 11.9% YoY to INR16.3b; PBIT margin expanded 40bp YoY to 10.8%. (b) Smart Infrastructure revenue was down 9.2% YoY to INR11b; PBIT margin was at 9.3% (+230bp YoY). (c) Mobility revenue was flattish at INR3.6b; PBIT margin shrank 510bp YoY to 10.5%. (d) Digital Industries revenue grew at a paltry 3.8% to INR7.2b; PBIT margin expanded 140bp YoY to 7.8%. (e) Portfolio of Companies revenue grew 17.6% YoY to INR3.9b, but PBIT margin was at - 6.2% v/s +6.3% last year due to one-off employee expense (led by VRS and YoY to INR31.9b in 4QFY19. SIEM let go some large orders which would have affected profitability. New orders were up 10.6% YoY (INR26.5) in FY19. New orders were up 10.6% YoY (INR26.5) in FY19. In FY18, there were two large orders worth INR2.6b. New orders in FY19 were up 31.7% YoY (INR13b).