Instrument clusters, pumps & mechanical products and switches & sensors formed ~50%, ~25%, ~11% of standalone FY20 sales, respectively. The company is a leading supplier of instrument clusters for large 2-W players domestically and enjoys significant wallet share with them. Move towards increasing digitisation of instrument clusters post introduction of BS-VI emission norms is slated to be a large growth opportunity in coming times. BS-VI switchover has also benefited the fuel pumps vertical. Sales from these margin accretive new products formed 40% of 9MFY21 revenues, with...