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#YashHighvoltage On the cycle, management said the next 2-4 years look like a seller's market, with component players able to choose where to allocate capacity. They don't see a reason for excess capacity and a price bloodbath, which is what usually follows when tailwinds turn into headwinds. They are more hopeful on bushings specifically: a niche product with reasonable entry barriers. Disc: For educational purposes only. Not a buy or sell recommendation. Jaima Scientific Ventures LLP, SEBI RIA (INA000021030)