In 3QFY22, TVS motors reported standalone revenue of 57.1bn (5.8%/1.5% YoY/QoQ); led by better than expected ASP growth. Realizations rose 15% YoY (19%/6% YoY/QoQ) to 65k on the back of price hikes and better product mix. EBITDA margin expanded 50bp YoY (+30bp QoQ) to 10%, aided by operating leverage. Contraction in gross margin was restricted to ~15bp YoY (flat...