Replacement demand to support amid OEM segment pain! Domestically ATL realises ~60% sales from replacement market, with sizeable ~30% exposure to the OEM market and the remainder 10% from exports. The domestic OEM space is currently witnessing a muted demand scenario owing to a confluence of factors surrounding cost of ownership, with the associated demand pressure impacting auto ancillary players as well. However, strong volume growth registered by OEMs in the past few years would percolate into a ready aftermarket base over the medium term...