Results ahead of estm; Order book intact; Commentary turns cautious Results were ahead of estm with a revenue growth of about 8.8% YoY at Rs 1.38bn (our estm at Rs1.32bn) and OPM at 20.3% against our estm at 16.5% - profit beat led by reversal of variable pay provisions. Order book stood at Rs 4.4bn, implies 18% growth YoY (flat QoQ) with new 8 new product order wins in the quarter, adding 4 new logos. It also completed 24 product module implementation in Q4 (65 for FY20). Order book is encouraging but management unsure about...