Mayur Uniquoters (Mayur) came out with mixed result in Q1FY17 where revenue was below expectation while EBITDA and PAT were above expectation. Lower than expected revenue was primarily due to lower than expected volume which grew just 1.8% YoY to 5.9 mn mtrs. Also, realization remained flattish YoY to Rs217.1/mtr. However, the company benefited from lower raw material prices which came down to 56.1% of sales in Q1FY17 compared to 60.5% in Q1FY16. Consequently, Mayur reported a strong EBITDA margin of 29.7% in Q1FY17 against 24.8% in...