CMP : 535
Target Price : 615
For 2QFY2018, sales came in at `6,590cr (`7,118cr expected) v/s. `7,764cr in 2QFY2017, a yoy de-growth of 15.1%, following a decline in US sales (which was impacted on the back of pricing pressures and base effect). On operating front, the EBITDA margins came in at 20.0% as expected v/s. 34.3% in 2QFY2017, mainly on the back of lower sale..