19 October 2019 at INR49.2b (-5% YoY, +11% QoQ). The premium to SGRM reduced to USD2.9/bbl (v/s USD3.4 in 2QFY19 and USD4.6 in 1QFY20) as the company had a lower gasoline and FO yield, which primarily drove the improvement in SGRM. Also, the increase in prices of heavy crude had an adverse impact. in 2QFY19 and USD8.1/bbl in 1QFY20. Throughput was at 16.7mmt (our to 4.0mmt from 3.3mmt in 2QFY19 and 2.9mmt in 1QFY20. Petrochemical EBIT stood at INR75b (-6% YoY, flat QoQ), led by pressure on product spreads due to the global supply glut (largely from the US and China).