I think it is getting ready to deliver better growth. EBITDA grew 35% yoy mainly due to 3%+ expansion in gross margins. It is ticking all the boxes by reducing debt, increasing dividends and increasing cash on the balance sheet. Don’t know what caused massive drop in other income and increase in tax rate. Without these it was headed to 35% growth in Q2 EPS. It is too much to expect an elephant to run too fast that too in the rainy season. However, raw material benefits will keep EPS growth good enough for the next few quarters at least.
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