ICICI Securities Ltd | Retail Equity Research Revenues declined 5% YoY to | 1434 crore (I-direct estimate: | 1483 crore) due to 45% de-growth in the US to | 281 crore (I-direct estimate: | 323 crore) led by a higher base. Brazil grew 82% to | 216 crore (I-direct estimate: | 165 crore) and Germany grew to | 235 crore (I-direct estimate: | 187 crore). Domestic formulations grew 4% YoY to | 467 crore (I-direct estimate: | 500 crore) EBITDA margins declined to 20.6% (I-direct estimate: 23%) against...