Q4FY18 revenue grew by 40%YoY due to 32% volume growth and superior product mix. PAT grew by 31%YoY. EBITDA margin expanded by 130bps despite combination of higher raw material price and Employee wage cost. Increased penetration in the High margin premium motorcycles is becoming a game changer for the company. The category (>150cc) grew by 95%YoY. We expect the Revenue /PAT to grow by 19%/33% over FY18-20E led by 16% CAGR in volume growth and superior product mix....