Somany Ceramics (Somany) reported revenue de-growth of 18.8% YoY to | 330.3 crore (our expectation: | 427.0 crore) due to heavy destocking at dealer's level and SAP implementation in the company The EBITDA margin contracted significantly by 350 bps YoY to 4.0% (our estimate: 8.4%) mainly on account of higher other expenses (26.0% as percentage of sales in Q1FY18 vs. 21.2% in Q1FY17) PAT slumped 66.9% YoY to | 6.0 crore (our expectation: | 19.9 crore). However, it included an exceptional item worth | 1.7 crore pertaining...