I think one of the reason is they are highly diversified business and 2nd may be because they are cyclical business.
But management seems to focusing on few products as mentioned in their concall.
“So, solar EPC is not a sector that is identified as a major growth area for us. We have strong
capabilities in that business, and we have a strong order book in that business as well, but the
businesses that we would want to grow year-over-year 5 years from now make them, build them
into multi-thousand crore businesses each of them, that would be the PEB business or hydraulics
business, PGI, tubes, engineering services, and a process equipment. And all of those have the
potential to all be multiple thousand crores, and if we focus on them, we will be able to scale.”