four quarters. On the scooters side, YTD growth has been a hefty 47.3% for Hero, which is much higher than the scooters industry growth of 27% indicates a good market share gain. On the exports side, the likes of Hero's closest competitors Bajaj and TVS are facing the heat, Hero is fairly insulated due to its minimum presence there. However, ambitious plans to enter markets like Argentina, Ghana and Mexico may start delivering in a couple of years, at the time when overall macros in these exports countries are expected to improve. We now expect 11%...