ICICI Securities Ltd | Retail Equity Research Revenues grew 39.5% YoY to | 406 crore (I-direct estimate: | 426 crore) mainly on the back of 1) | 40 crore of one-off raw material pass through 2) traction in biologics manufacturing, discovery services and chemical development services, 3) lower base of Q1FY18 (fire incident impact) and 4) favourable currency movement EBITDA margins declined 608 bps to 26.9% YoY (I-direct estimate: 32.2%) mainly due to pass through of raw material billing...