ICICI Securities Ltd | Retail Equity Research AIA Engineering reported lower-than-expected Q1FY18 results. The revenues and volumes were mostly in line with estimates while a massive decline in gross margins led to disappointing EBITDA. Consequently, PAT was below estimates as EBITDA margins and lower other income played spoilsport Revenues came in at | 554.8 crore vs. our estimate of | 564.5 crore. Volumes for Q1FY18 grew 17% YoY to 55680 tonnes vs. estimates of...