Heavy 2-W exposure to help limit topline damage Speedier aftermarket growth necessary to aid margin recovery The OEM channel has formed the lion's share of GIL's revenues over the years at ~83-85%, with replacement (aftermarket) and exports accounting for 11-13% and ~2-4%, respectively. Amid short-term supply side and longer term demand side issues for OEMs, ancillaries with a firm aftermarket channel stand to gain through (a) volume growth and (b) better pricing because of its B2C nature. GIL does command strong ~40% market share...