(led by Brezza) have now doubled to 12.6% of sales (6% in Q2FY16) boosting realizations by 9% YoY. Higher steel prices along with a surge in the Yen (up 20% YoY) also resulted in gross margins contracting 84bps to 32.3%. However, EBITDA grew 34% to Rs30.3bn, with margin expansion of 74bps YoY to 17% (est. 14.8%) as other expenses fell 150bps YoY to 12.4% on the back of lower discounts (16,100/vehicle down 18% YoY, 4% QoQ) and higher operating leverage. PAT grew 68% to Rs24 bn(est. Rs17 bn)....