Incremental margin expansion to be tepid as advertising, marketing and overheads will gradually perk up We increase our FY21/22/23 earnings by 15.7%/ 3.6%/ 5.3% respectively and reiterate our positive stance on Crompton given 1) strong sales with market share gains in core categories of Fan, Pumps 2) Focus on scaling up large categories like Geysers, Coolers and Mixer Grinders 3) Superior market penetration and on shelf availability due to go to market initiatives and 4)...