Valuation: We have increased revenue estimates for FY18 by 5.9% on account of revenue expected from plants commissioned in FY17. Also we have contracted EBITDA margins for same year, by ~39bps to factor in lower margins at SMP. However, we expect MSSL's revenue / earnings would grow at a CAGR of ~15% / ~32% over FY16-FY19e led by standalone business which is likely to benefit from demand pull from domestic OEM's particularly from PV segment, ongoing acquisition of wiring harness company for trucks, and plans to set up 9 new plants. We value the stock...