Maruti Suzuki's (MSIL) Q4FY19 revenue grew a muted 1.4% YoY to Rs 214.6bn. EBITDA fell 25% YoY to Rs 22.6bn and adj. PAT declined 13% to Rs 17.9bn. Despite a subdued near-term PV outlook, We expect MSIL to maintain its above-industry performance. Benefits of operating leverage at the Gujarat plant, normalised inventory and lower discounts can help margins recover from H2FY19 lows. We pare FY20/FY21 EPS estimates by 3.7%/2.3% to build in...