Growth outlook It is expecting lower than expected sales in 4QCY21 (v/s earlier estimates) due to ongoing semiconductor shortage as the LMV market is expected to grow by only 8%/1% in India/Europe. n   However, it is optimistic about growth in both India and the European region during CY22 and CY23, subject to semiconductor availability. India business n   Bill Forge has secured EV orders (worth ~EUR20m, similar to Metalcastello) for driveline products. Margin in EVs would be similar to ICE products. However, complexity and accuracy would be higher than those of ICE products. n   All divisions grew during 3QCY21, despite the semiconductor shortage. However, there is uncertainty in 4QCY21 due to the chip shortage. n   Exports momentum is being impacted by high logistics cost and is expected to grow at a slower pace. European business n   The European business has delivered good performance, despite COVID-1...