in MHCV; LCV market share at record high of 23% led by Bada Dost. AL's Q2FY22 revenue came at Rs 44.6b (57% yoy, PLe 46.3b) led by 42%/11% YoY growth in volumes/ASP. ASPs declined QoQ led by poor mix and increased discounts. Gross Margins at 23.3% (-260bps QoQ, PLE:25.2%) were impacted by higher RM costs however, lower than expected other expenses and employee costs diluted this impact. Improvement in fleet utilization levels led by higher infra spending, construction & mining, improved financing...