Q3 Revenue & PAT grew by 40% & 74% YoY, led by festive & pentup demand, restriction in imports and market share gains. EBITDA margin improved by 430bps YoY to 16% led by scale benefits, product mix, price hikes and cost rationalisation. We upgrade our EPS estimates by 27% & 18% for FY21E & FY22E, given sharp turnaround in earnings. A complete player in electrical & consumer durables products with strong brand recall, distribution strength and leadership position in...