costs (-60bp YoY), leading to EBITDA margin contraction of 20bp YoY to 18.8%. 1HFY18 performance: Sales rose 10.7% YoY, while EBITDA and adj. PAT fell 3.6% and 7.3%, respectively. EBITDA margin shrunk 270bp YoY to 20.9%. Standalone performance: Net sales grew 16.1% YoY to INR36b. Gross margin shrunk by 340bp YoY to 42.2% and EBITDA margin by just 40bp YoY to 22.2%. Thus, EBITDA grew 14.1% YoY to INR7.2b. Adj. PAT was up 8.8% YoY to INR4.7b....