With HMCL leadership in the entry level segment, any efforts from the other players to gain market share cannot be ignored by HMCL. We believe that there can be pricing cut by other players to gain some market share in this price sensitive segment. Though HMCL is the strongest brand, we believe that HMCL will have to play as per the market dynamics. We don't expect HMCL to resort to aggressive price cuts, but ability to increase / pass on increase in input prices get limited. We will monitor this closely in the coming months to ascertain future margin profile....