Revenues for Q4FY18 grew 22% YoY to | 608.4 crore (I-direct estimate: | 588.8 crore). The revenue beat was mainly driven by higher blended realisations, up 16% YoY to | 164/piece. Overall volumes for the quarter grew 6% YoY 36.5 million pieces Elevated raw material prices led to a decline in gross margins by 188 bps YoY to 62.6%. However, with controlled operating expenses and lower employee expenses (down 3% YoY to | 98.6 crore), EBITDA margins improved significantly by 455 bps YoY to 24.1% (highest ever...