negative (-2%YoY) volumes growth and persistent protectionism, AIAE continues to deliver industry-leading operating margins of (27.2%) and strong cash generation, supported by favorable product mix and disciplined cost control. A net cash balance of ~4,200 crore provides downside protection, funding flexibility for overseas expansion (Ghana, China) and patience through elongated trial cycles. This combination of high profitability, cash optionality and limited balance-sheet risk underpins earnings resilience and enhances visibility on long-term value creation. we...