EBITDA margin expanded 120 bps YoY to 6% but it was below our estimate of 8.5% due to higher-than-expected raw material costs (14.8% as percentage of sales in Q1FY19 vs. our estimate of 12.0%) and higher power & fuel cost amid higher natural gas prices PAT grew 39.4% YoY to | 8.4 crore, below our estimate of | 19.0 crore due to a lower-than-expected topline and EBITDA margins Macro environment & competition impact revenues Somany reported revenue growth of 8.6% YoY to | 362.2 crore. It was...