Fair point, however I don’t see these quality issues bearing a meaningful drag on sales or valuations. Also the India PV is hardly 15-18% of overall sales (please verify).
I think with the demerger of CV and PV, there should be some value unlocking. I think there next step will be carving out EV from PV separately, as they already have raised multiple fundings on the EV biz. The healthy balance sheet, coupled with EV shift seems like a relatively safer stock, with moderate growth potential.
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