Domestic sales grew 21% YoY in 1QFY17, with HMN gaining market share across its key categories. International business and CSD segment posted sales growth of 14% and 12% YoY, respectively. Gross margin stood at 64.5% (up 390bp YoY). Higher A&P; spends (up 70bp YoY to 23.8%) were partially offset by lower other expenses (down 120bp YoY to 8.6%). EBITDA margin expanded 450bp YoY to 22.9% (est. of +40bp YoY), mainly due to gross margin improvement. EBITDA thus grew 49.2% (est. of +22.8%) to INR1.5b. Adjusted PAT grew 18.4% (est. of +7.1%) to INR 1.2b....