er depreciation on account of IndAS 116 adoption. Management kept their revenue growth guidance Target Price (INR) unchanged at 8-10% YoY with EBITDA margin between 26%-27% for FY20E. On tax rate front, man- BSE code agement has guided for 25% tax rate from next year as the company adopts the new tax regime. As we witnessed, better recovery in H2 in last two year, we expect this trend to continue this year as well...