yes it is. however, market is pricing it lower due to the disruptions in middle east. it pretty much depends on orderbook recovery for the pipeline coating segment (mainly from Qatar) which is exposed to Hormuz situation. Keep an eye on the pipeline + engineering & fabrication segment orderbook wins in coming qtrs. Bioenergy is done deal as that is listed separately under Genergy and Wasco has benefitted from the listing of Genergy - selling some of its stakes at the peak. Orderbook is slightly over 2bn excluding the bioenergy segment.

dont rush it as wasco is neither upstream nor downstream. Its more to O&G service provider and its coating segment primarily based in Qatar is affected by the situation at Hormuz. When the upstream/downstream players start spending capex, it will flow to Wasco then. Need a lot of patience here.