Vardhman reported healthy revenue growth of 12.3% YoY to | 1648.0 crore (I direct estimate: | 1538.5 crore). Revenues from textile segment grew 11.0% YoY to | 1584.3 crore, whereas revenues from acrylic fibre rose 21.0% YoY to | 86.3 crore albeit on a favourable base of demonetisation in Q3FY17 EBITDA margins for the quarter declined 740 bps YoY to 13.7% (Idirect estimate: 16.0%) mainly on account of higher raw material expense (cotton) by 1095 bps YoY. However positive operating leverage (employee and other expenses down 72 bps and 273 bps...