fell 32% YoY to INR4.4b, much below our estimate of INR7.6b. Commissioning in 1Q stood at 48MW (-38% YoY). Execution suffered as management's focus shifted toward improving the deteriorated working capital cycle. EBITDA fell 57% YoY to INR0.4b, with margins down 580bp YoY to 10.0% (v/s est. of...