For Q2FY24, MDA reported revenue of INR 11,958 Mn, a growth of 4.3% YoY/ 11.3% QoQ. This was the highest-ever quarterly revenue for MDA and an industry-beating growth. The growth was driven by robust demand in the domestic market, an increasing share of business with key customers, and product premiumization, despite continuing headwinds from exports on the back of geo-political issues.