Domestic segment surprised with 10% yoy revenue growth to Rs1.9bn, led by better product mix and increasing traction in new launches. Export revenue however, stood flat yoy at Rs4.3bn, as shipment worth Rs700mn got delayed due to logistical issues. Net Revenue grew by mere 3% yoy to Rs6.34bn and was below our as well as consensus estimates. Gross margin contracted by 130bps to 48.4% and EBITDA margin contracted by 390bps to 21.5%. EBITDA declined 12% yoy to Rs1.4bn while PBT was flat at Rs 1.3bn. more molecules in FY19. In the domestic segment the company is likely to introduce 4-5 new products which will be a mix of novel molecules and co-marketing products....