While revenue fell 17% YoY (in line), EBITDA saw a massive 26% beat on gross margin (GM) improvement of 570bp, benefiting from a provision write back of INR140m (190bp gain) and potential reduction in discounted sales. Adjusting for write-backs, EBITDA fell 4% YoY (16% beat). Its historic, industry-leading growth should resume in FY22 as aggressive store additions have already resumed. We have raised our FY22E EBITDA...