Strong order backlog likely to sustain CSM growth momentum CSM business has order backlog of $ 1.5 billion, which represents TTM book to bill of more than 4x. The revenue from CSM remained at | 1413 crore during H1FY21 against | 1136 crore in H1FY20, registering growth of 24% YoY. The management expects the CSM business to report 20% YoY growth for FY21, leading to H2 growth of 16%. We believe the guidance is conservative and there is high probability of growth crossing over 20% YoY for this fiscal. Going ahead, since a few molecules are in advanced stages of...