VGRD reported in-line revenues in Q3, driven by the Consumer Durables and Electronics segment, while the Electrical segment's revenues increased only marginally (+3.2%) due to the weak performance of the Wires and Pumps segment. Consumer Durables segment growth was supported by strong volumes in Fans and Water heaters. The Electronics segment (+17.4%) has made a comeback after nearly four quarters of muted growth, with equal contributions from Stabilizers and UPS. by an expansion into the non-South markets and the introduction of new product categories. However, we have blended in a 13% revenue CAGR from FY18-21E....