JK Tyre's revenue grew during the quarter driven by its India operations, while the Mexico business partially offset this growth due to geopolitical tensions. Margin and profitability were impacted as the cost of sales increased. The Indian tyre industry is expected to grow 7-8% this fiscal driven by strong domestic replacement demand. Furthermore, the company's market penetration, digitalisation efforts and focus on enhancing operational efficiencies are expected to support long-term growth. Nevertheless, global uncertainties caused by US tariffs and the ongoing geopolitical situation continue to pose challenges. As a result, we retain our HOLD rating on the...