UPL reported a revenue growth of 6.5% YoY to INR 56.9bn against our estimates of INR 58.8bn. The growth was led by mixed of geographies such as Europe (+7.3% YoY) & LATAM (+7.2% YoY). OPM inched up by 32bps YoY to 21.4% resulting into EBITDA growth of 8.2% YoY to INR 12.18bn against our estimates of INR 12.86bn....