Skipper's EBITDA declined by 12.9% YoY to Rs450mn, while its EBITDA margin contracted by 355bps YoY to 9.4% led by fall in polymer margin to 1.2% in 1QFY19 (from 9.3% in 1QFY18) owing to execution of fixed-value engineering projects. Fall in Polymer market is attributable to increasing penetration cost in newer markets owing to increased brand building spend and dealer incentives. Skipper's PAT declined by 72% YoY to Rs45mn owing to 62% YoY rise in interest cost to Rs274mn on account of high inventory built-up led by subsequent supply...