Titan's 4QFY18 reported revenue (incl. other operating income) rose 13.3% YoY to IN41.1b (est. of INR40.4b). EBITDA grew 70.3% YoY to INR4.4b (est. of INR3.6b) and recurring PAT rose 72.2% YoY to INR3.1b (est. of INR3.0b). Consol. segmental performance: a) Reported Jewelry sales were up 14% YoY to INR33.6b, with segmental margin up 360bp YoY to 12.6%. b) Watches sales declined 3% YoY to INR4.9b, with EBIT margin up 250bp YoY to 3.5%. Gross margin expanded 110bp YoY to 29.4%, while EBITDA margin inched up 350bp YoY to 10.6% (est. of 9.0%) in 4QFY18....