Sector: Miscellaneous /Small-Cap | Earnings Update 4QFY18 Background: TBVF has spun off GYM business as per the ratio of cost of acquisition i.e. 71.04% equity of the combined entity to the new entity which will be listed shortly. The existing entity i.e. TBVF, operates lifestyle business such as Reduce, Nuform, Zumba, Zorba, Dr. Mickey Mehta wellness and club. In FY18, Lifestyle business revenue, EBITDA and PAT grew 17%, 26% and 43% respectively. Nuform is currently operated in 76 centers and Zorba (78 centers). Club is expected to be operational in the next 9-12 months and the membership rollout is expected to commence from mid 2018....