Ensuing PAT was at | 36 crore (down 52% YoY and 35% QoQ) What should investors do? TML's share price has given a return of ~152% over the last five years (from ~| 344 in January 2017 to ~| 866 levels in January 2022). We downgrade to stock from BUY to HOLD Target Price and Valuation: We value TML at | 975 i.e. 6.5x FY23E EV/EBITDA...