Revenue stood at Rs 2.53 bn (+20%/+29% YoY), significantly lower than our estimates of Rs 3.7 bn primarily on lower sales volume of 0.22 mt vs our estimate of 0.32 mt. Blended realizations stood at Rs 11,410/ tonne,more than 2x YoY and up 22% QoQ EBITDA came at Rs 1.22 bn, (vs Rs 57 mn loss in Q4FY16/-7% QoQ). This was lower than our estimate of Rs 1.5 bn. EBITDA margin however improved to 48%, up 1134 bps QoQ. Blended EBITDA/ tonne stood at Rs 5637, c. 50% higher on QoQ basis YoY and 66% QoQ to Rs 660 mn. Declared final dividend of Rs 6 per share takes total dividend to be Rs 11/share for FY17, highest so far...