sales, 2) 6% on ad revenues and 3) 10% on F&B; revenues. ATP/SPH growth was healthy at 10%/12% yoy, partially attributed to premium screen additions and price hikes in renovated screens at key locations. The management delivered on its 20% ad growth guidance for FY18. The management remains confident of adding 90+ screens in FY19. But, we continue to remain conservative and project 66 additions in FY19. After record high capex of Rs3.5bn in FY18, the company has raised capex guidance for FY19 to Rs4-4.5bn. Our footfalls growth assumptions stand at 5%/9% for FY19/20E, as we expect revival in...