Earnings miss estimates marginally: 2QFY20 revenue grew 4% YoY to INR10.7b (10% below est. INR11.9b), while EBITDA was up 4% YoY to INR1.3b (18% below est. INR1.6b). Reported EBITDA margin was marginally up 30bp YoY to 12% (lower than est. 13.2%). PBT came in at INR1.3b, up 9.5% YoY (15% lower than est. INR1.5b). Aided by lower tax rate of 12.3% (v/s 33.4% YoY), adj. PAT stood at INR1.1b (3.5% below est.). 1HFY20 revenue/EBITDA/PAT grew 8%/10%/29% YoY. Lighting segment performance disappoints: Lighting segment revenue...