Sanofi India (Sanofi)'s 1QCY2016 results have come in lower than our expectation; the company posted a 10.1% yoy growth in revenue to Rs506cr V/s an expected Rs593cr. On the operating front, the gross margin came in at 52.1%, almost in line with our expectation, and V/s 47.8% in the corresponding period of last year. The OPM came in at 18..