30 May 2018 Revenue grew 7.0% YoY to INR11.0b, below our estimate of INR12.4b. EBIDTA came in at INR1.2b (+13.2% YoY), below our estimate of INR1.4b. Operating margin of 11.2% (+60bp YoY) was ahead of our estimate of 10.9%. PAT of INR699m (+2.4% YoY) came in below our estimate of INR880m due to lower other income (INR39m v/s est. For FY18, sales stood at INR36.