Sterling Tools (STL) continues to strengthen its relationship with OEMs enabling it to expand product portfolio. Higher grade / specialised fasteners proportion are on a constant rise and margin expansion was the logical outcome. We expect the proportion of specialised fasteners to rise gradually for the foreseeable future. Volatility in raw material prices can impact margins for a couple of quarters as the raw material impact is passed on with a lag. Meidoh tie up will open up significant opportunities for STL. The capacity augmentation through a greenfield capacity in Karnataka will...