Divis Laboratories Limited (Divis) reported impressive numbers for yet another quarter with results ahead of estimates. A double digit growth in the API as well as custom Synthesis business drove the topline growth, while backward integration benefits and gross margin expansion drove the growth in operating margins, leading to a sturdy double digit earnings growth. Consolidated sales for the quarter stood at Rs. 1,749 crore, is up 21% y-o-y, due to 26% growth in API and 18% growth in custom synthesis business. OPM at 43.3% expanded sturdily by 933 bps y-o-y because of rise in gross margins and benefits of backward integration. Consequently, reported PAT at Rs. 519.6 crore was up 45.6% y-o-y and was ahead of estimates....