TII continues to prioritise expansion of its clean mobility ecosystem with incremental capex visibility, alongside steady execution in newer adjacencies such as CDMO and medical devices. While ramp-up in the railway segment remains gradual, ongoing product approvals and capacity utilisation improvements across engineering facilities are likely to aid growth over the medium term. Backed by robust cash flows, sustained cost optimisation, and calibrated investments across core and emerging platforms, TII remains well placed to deliver consistent growth across its business portfolio. We value...