Q3FY26 - Strong revenue growth but margins slowdown on account of higher expense velocity - Revenues were up ~21% YoY to 374 crore driven by power brands of Neurobion Forte (Multivitamins), Livogen (Iron compounds), Nasivion (nasal decongestant) and Polybion (Vitamin B complex) but pulled down by de-growth in Evion (Vitamin E). EBITDA degrew ~10% YoY to ~110 crore and margins decreased 1030 bps YoY mainly due to 31% growth in employee expenses and 44% YoY growth in other expenses. It reported GPM of 70.6% (down 493 bps YoY) and PAT margins of ~21%. Note that Q3FY25 also had an exceptional high margins...