JUBI's net sales grew by 9.2% YoY to INR7.3b, EBITDA by 59% YoY to INR1b (est. of INR677m) and adj. PAT by 124.8% YoY to INR485m (est. of INR215m) in 2QFY18. SSS grew 5.5% (est. of +6%) for the quarter. JUBI opened one Domino's store and closed one store in the quarter. Gross margin contracted 70bp YoY to 74.1%. EBITDA margin expanded 440bp YoY to 14.1%, led by sharply lower other expenses (-310bp YoY), staff costs (100bp YoY) and rent costs (-90bp YoY). Concall highlights: 1) Healthy growth witnessed after product refresh in August. 2) Management clarified that it is unlikely to take any price increase...