Headwinds in domestic OEMs to result in sluggish FY20E Domestic OEM segment witnessed double digit de-growth in the midst of a slowdown in the auto sector. Domestic OEM (two-wheelers, CV comprise highest share in OEM segment) contributes to ~69% of topline. Going ahead, we expect some short-term pain in this segment, which can be followed by some recovery starting H1FY21. Margins look to have bottomed out with the company benefitting from the lag effect of low steel prices in the first half of the year. This should cushion EBITDA as well as bottomline...