TVS Srichakra (TVSSL) reported a good set of numbers for 4QFY2016. Its top-line grew by 13.0% yoy to Rs525cr. On the operating front, the raw material cost came down significantly, ie by 805bp yoy to 48.1% of sales. Still, the EBITDA margin expanded by a marginal 68bp yoy to 14.5% as raw material cost savings were offset by higher employe..