With near term numbers missing our forecasts, we cut CY17E EPS by 3%. However, with asset-light debottlenecking and operational efficiency yet to be explored, we increase CY18E EPS by 6%. Maintain Hold. Result Highlights and Investment Rationale Better-than-anticipated realization paves the way: Revenues were up 15% YoY to Rs23bn. Here, the September quarter volumes advanced by 11.6% YoY to 5.02mnt. And the realizations inched 3.2% YoY to Rs4,621/ton. Adding to that, inventory gains in past-- which lowered raw material outgo-- was missing. Yet this was offset by...