The company reported a consolidated sales growth of 27.6% YoY to Rs 11.5bn. A strong sales growth in the CSM business (up 25% YoY to Rs 7.98bn) coupled with improving contribution from ISAGRO (Rs 996mn from domestic business, Rs 109mn from exports) led to a beat on our sales estimate of Rs 10.5bn. EBITDA growth of 45.5% YoY to Rs 2.8bn came in from an improvement in gross margins of 170bps YoY with improved business mix and product mix coupled with easing input costs....