Cigarette EBIT was marginally impacted by stock damage due to floods in Kerala and some costs relating to the shift to new graphic health warnings on the packs from 1 Sep18. Cigarette EBIT, thus, grew at a relatively slow rate of 8.7% YoY (v/s sales growth), with the margin contracting 110bp YoY to 71.2%. INR585m v/s INR205m in the year-ago period. Revenues of Agri Business/Paperboards, Paper & Packaging/Hotels grew by 12.8%/8.8%/20.8%. EBITDA margin expanded 160bp YoY to 38.