M&M's Q4FY25 Standalone revenue grew by 24.5% YoY, coming in 2.3%/4.4% higher than PLe/consensus estimates. The growth in revenue was aided by strong volume growth in in Auto and Farm division as well as better mix in the automotive division led its realizations to increase by 6.2% YoY while Farm realizations remained flat, blended realization up by 4.4% YoY. Gross profit grew by 20.4% YoY while margin contracted by 89bps YoY. EBITDA grew by 42% YoY while margin expanded 184bps YoY, owing to lower staff cost and...