ICICI Securities Ltd | Retail Equity Research Revenues declined 5% YoY to | 4034 crore (I-direct estimate: | 4030 crore) mainly due to 21% YoY de-growth in the US to | 1499 crore (Idirect estimate: | 1412 crore). This was on account of the high base of Metformin sales in Q4FY17. India sales increased 10% to | 965 crore, in line with I-direct estimate of | 967 crore EBITDA margins declined 80 bps YoY to 17.6% (I-direct estimate: 19.2%). The decline in gross margins (592 bps to 66.2%) was largely offset by lower other expenditure. EBITDA declined 9% YoY to | 709...