ICICI Securities Ltd | Retail Equity Research Revenues grew 5% YoY at | 540 crore (I-direct estimate: | 506 crore) mainly due to 13% YoY growth in domestic sales to | 178 crore (Idirect estimate: | 173 crore). Export formulations grew marginally by 1% to | 350 crore (I-direct estimate: | 317 crore) EBITDA margins increased 51 bps YoY to 34% (I-direct estimate: 29.1%). Improvement in gross margins by 242 bps YoY to 80% was largely offset by 256 bps increase in employee expenses to 16.5% Adjusted net profit remained flat YoY at | 132 crore (I-direct...