Maintain BUY with an increased SOTP of Rs 163/sh. JMCP 2QFY19 revenue came at Rs 7.3bn (11.3% YoY, 6.5% QoQ). EBITDA margins of 10.6% (+90bps higher than expected) and an effective tax rate of 23.7% led to a higher PAT of Rs 301mn (+49% 2QFY19 beat).