Stellar 21% domestic volume growth; best among peers: Dabur's comparable domestic sales grew by 25%, 9% ahead of our estimates. Volume grew strongly by 21%, exceeding our expectation, indicating pick-up in wholesale channel, improved demand and market share gains. Volume growth was broad-based, as HPC/ Healthcare/Beverages grew by 20%/23%/27%. Toothpaste grew by 17% on a high base of 10%, extending its market share gain. Despite 31% increase in advertising spends, EBITDA grew by 35% (2% ahead of our estimate). Lower other income resulted in PAT growth of 25%. International business continues to recover: International business grew by 11.5%...