FY20E a write-off, BS-VI transition more palatable for PV space The PV segment has suffered heavily amid the overall auto space weakness that has persisted since the 2018 festive period. Rise in ownership costs (additional safety features, higher fuel prices), slowing consumption demand and increasing preference for shared mobility in some pockets posed volume challenges to players. YTDFY20 volume decline at MSIL was at ~25% YoY, which includes a steep decline of 30% in Q2FY20. We believe BS-VI transition would be relatively more palatable for the PV segment since...