Q4FY20 revenue de-grew by -15%YoY largely on account of production lockdown and 20%YoY decline in tractor volume and 26%YoY in construction equipment sales. However softening metal price, localization, cost control initiative and superior product mix has expanded the margin to 245bps at 14.1%. Adj. PAT grew by 15.5%YoY supported by lower tax. The government's action towards improving the agricultural...