ICICI Securities Ltd | Retail Equity Research KKCL reported topline growth of 35% YoY to | 106 crore, albeit on a low base (revenues in Q1FY18 had declined 25% YoY). Higher sales were mainly driven by volume growth of 35% to 10.2 lakh pieces while realisation per garment remained flattish at | 1035 Gross margins for the quarter (including manufacturing expense) improved 410 bps YoY to 51%. Given the fixed cost nature of the business, strong volume growth for the quarter resulted in positive...