26 May 2017 Cadilas (CDH) 4QFY18 revenue increased significantly by 31% YoY to INR32.5b (est. Gross margin improved ~410bp YoY to 66.7% (65.5% in 3QFY18). EBITDA rose ~88% YoY to INR8.7b (est. of INR7.3b), with margin expansion of ~810bp YoY to 26.8%. Improvement in the gross margin, along with a decrease in employee cost by ~100bp (as % of sales) and in R&D; cost by ~340bp, led to overall margin improvement. Strong revenue growth, coupled with better margins, led to robust ~57% YoY growth in PAT to INR6.1b (est.