Profitability impacted by higher costs: Standalone revenue increased 16% YoY to INR53.5b (in-line) in 4QFY19, driven by VSF (+18% YoY) and Chemical (+17% YoY) segments. EBITDA grew 6% YoY to INR8.9b (our estimate: INR10.7b), with the margin contracting 1.5pp YoY to 16.8% due to higher cost.. PBT after exceptional items stood at INR6.7b (+36% YoY). The company reported PAT of INR5.4b (-9% YoY; our estimate: INR6.5b). VSF segment: Volumes increased 13% YoY led by debottlenecking of capacities, with revenue at INR26.2b (+18% YoY). Consequently, EBITDA rose...