I would agree, Uniparts as much as they discuss they are agriculture related it is important to appreciate that in the US agriculture trucks are much higher HP than what we see in India. So firstly, Uniparts is not as agri focused as they might highlight. They saw strong revenue numbers in Covid due to people using their tractors for leisure in the US but with inflation and other things going on people have left this behind. Uniparts is more linked to discretionary expense as opposed to agri cycle. If you see their customers John Deere have actually done well on Higher HP segment but lower has suffered which is where Uniparts participates.
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