operational performance, c) higher other income and d) exceptional gains of Rs760mn. 2HFY20 plant and when situation normalizes this plant will also add to growth. FY21 is not looking is expected to be better than 1HFY20 with reasonable growth in exports and presence of levers that bad as it was at the end of Q1FY21. With volume recovery in footwear, ramp up of PU for margin improvement. However, we believe current valuations already discount most of the plant and businesses from new clients such as VW, Mercedes, BMW; we expect a strong...