HEG's Q4FY17 results came in below our estimates. Topline for the quarter came in at | 257.8 crore (up 45.4% YoY, 9% QoQ and below our estimate of | 309.4 crore). Capacity utilisation during the quarter came in at ~80% (our estimate: 85%) EBITDA came in at | 29.6 crore, lower than our estimate of | 54.5 crore. The resultant EBITDA margin came in at 11.5% (our estimate of 17.6%, Q3FY17: 12.3%, Q4FY16: 5.2%) At the PAT level, the company reported a loss to the tune of | 3.9...