Demand: Demand has picked up since the markets have opened up post the second lockdown. Replacement demand in the PCR/2W segments is witnessing traction although demand in the Farm/CV segments remains subdued. CV OEM demand is picking up, while demand in the PV segment has slowed down due to chip shortages. Outlook for 2HFY22: The replacement segment is expected to grow in the low single-digit on the high base of 2HFY21. TBR growth: CV replacement demand is under stress. TBB demand is muted owing to the higher base of last year while TBR grew 25% YoY on a low base. Meanwhile, CV OEM demand is improving. Volume growth: Overall volumes grew 23% QoQ/9% YoY. Volumes for OEM/replacement/exports grew 35%/23%/10% QoQ (17%/-3%/50% YoY). Exports: Container availability and cost still remain a key concern. Market share: CEAT’s market share in TBR /PV stands at 8-9%/15% (v/s 5% /11% a few years ago). RM cost inflation: The company’s RM basket cost increased by 6.5% QoQ due to inflatio...