EBITDA de-grew by 21.5% Y-O-Y to `48.7crs in Q1FY18. EBITDA margins contracted by ~240bps Y-O-Y to 12.5%. Margin contraction was primarily due to decrease in plywood volumes and currency loss of `8.58 crs on foreign currency borrowings for new MDF plant. However, Gross margins expanded by ~230bps on account of better capacity utilisations and a 4% improvement in MDF domestic realisation. EBIDTA margins in the Plywood...