Earnings below estimates: Revenue grew by 45% yoy (+17% qoq) to Rs1.51bn (Emkay Est: Rs1.53bn; Consensus Est: Rs1.51bn), broadly in line with estimates. Volume increased by 39% yoy (+7% qoq) to 11,624 units, while realization grew by 4% yoy (flat qoq) to Rs129,542/unit. EBITDA margin expanded by 220bps yoy to 12% (Emkay Est: 14.4%; Consensus Est: 13.8%), which was below estimate due to higher-than-expected RM cost and other expenses. The company is increasing product prices in Q1FY19 to counter commodity inflation. Overall, PAT grew by 84% yoy (+21% qoq) to Rs117mn (Emkay Est: Rs144mn; Consensus Est: Rs135mn)....