ICICI Securities Ltd | Retail Equity Research Exide Industries' (EIL) revenues grew 31.8% YoY to | 2,772 crore vs. our estimate of | 2,457 crore. EIL's automotive battery volumes remained strong while growth in the UPS, telecom, solar as well as other infrastructure space continued to be good during the quarter EBITDA margins contracted 132 bps YoY but expanded 36 bps QoQ to 14.1% vs. our estimate of 14.4%. Higher raw material cost (average lead price for Q1FY19 increased 14.8% YoY to | 160/kg)...