EKL is well placed on the back of new tractor launches across its brands and a paddyspecial tractor for the southern markets. The CE segment has turned around in Q4 and should benefit from the government's infrastructure push. With a healthy balance sheet and the planned new manufacturing facility, the long-term growth runway remains intact. Margins could be tested by commodity inflation and rising manpower costs, partly cushioned by price hikes. With FY26 setting a record base, near-term volume growth could...