Excellent growth track record; financials in the pink of health ETL has a history of strong outperformance vis--vis base user industries in India as well as Europe (10-year India sales CAGR at ~12% vs. 2-W industry volume CAGR of ~6%; FY15-20 Europe sales CAGR at ~7%), riding on the back of (i) increasing penetration in existing clients (~80% wallet share with the likes of Bajaj Auto and Royal Enfield), (ii) new client additions (OEMs like TVS Motor, Hyundai and Kia added in recent years), (iii) quick headways into offering multiple products to new clients and (iv) higher value addition...