MHCIE's India sales (~ 40% of consolidated sales) increased by 19.5% yoy to Rs7.7bn mainly on account of strong demand from domestic PV, Tractor and 2W industry. Its key domestic customers (M&M, Maruti and Tata Motors) grew by 11.7%. MHCIE's Europe sales (~ 60% of consolidated sales) increased by 22.8% yoy to Rs11.4 bn mainly on the back of impressive 11.2% volume growth supported by buoyancy in European market.