Rupa reported strong revenue growth of 10% YoY to | 420.3 crore (Idirect estimate: | 393 crore) despite Q4FY17 being a high base quarter (24% revenue growth in Q4FY17) Gross margins expanded 423 bps YoY to 36% on the back of a decline in yarn prices and a favourable product mix. Furthermore, with operating leverage kicking in (employee & others expenses as a percentage to sales down 14 bps, 113 bps YoY, respectively), EBITDA margins improved significantly by 550 bps YoY to 16.1% (Idirect estimate of 11.2%). Absolute EBITDA increased 67% YoY to | 67.5 crore (I-direct estimate: | 44.0 crore)...