Weak OEM, Telecom impacts revenue growth; Mix, decline in RM drives margins First revenue decline since 1QFY10: Revenues declined by 1% YoY to INR15.7b (our est. INR16.9b), impacted by lead price pass-through (in 40-50% of the business). The healthy volume growth in aftermarket (4W 11-12% YoY, 2W 18-20% YoY) and exports (15-20% YoY) was offset by ~10% YoY decline in...