IILs 2QFY17 revenues grew by 26% YoY to Rs 4.7bn led by both formulations ( 27%) and technical segments ( 16%). Better product mix and contribution from Green Label (newly launched herbicide) resulted in expansion of gross margins to 31% ( 226 bps). EBITDA was strong at Rs 478mn (37%). Lower interest cost (debt repayment, lower rate) further boosted APAT to Rs 287mn ( 59%).