ICICI Securities Ltd | Retail Equity Research Vardhman Textiles (VTL) reported a mixed set of Q1FY18 numbers. Consolidated revenues increased 6.0% YoY to | 1562.0 crore vs. estimated | 1595.3 crore. Revenues from the textile segment grew 6.5% YoY to | 1513.3 crore whereas revenues from acrylic fibre declined 35.7% YoY to | 67.7 crore EBITDA margins for the quarter declined 707 bps YoY to 14.1% (Idirect estimate: 17.2%) mainly on account of an increase in raw material expense (cotton) by 738 bps YoY. Subsequently, absolute...