OBC beat estimates across business parameters, led by (1) Gross stress additions (Rs 10.6bn) at a multi-quarter low, (2) Stable asset quality, with slippages of just Rs 7.7bn, (3) 200bps rise in PCR, (4) Negligible restructuring of Rs 2bn under the 5:25 scheme, (5) NIM expansion of ~11bps QoQ, (6) CASA improvement of 75bps QoQ to 25%, and (7) Core/net earnings 8/34% ahead of estimates.