We build 32.3% sales, 74.7% PAT CAGR (latter aided by low base) over FY21-23E and believe WIL continues to offer a prime play on the impending M&HCV; revival domestically. We maintain our BUY rating, valuing WIL at | 8,020, 48x P/E on FY23E EPS (previous target price | 7,350). Strong technology support from MNC parentage & track record of outperformance...