ICICI Securities Ltd | Retail Equity Research Sagar Cements' results were a mixed bag with revenues beating our estimates while earnings remained below our estimates. Revenues increased 9.6% YoY to | 257.7 crore (vs. I-direct estimate of | 245.4 crore) in Q2FY19 mainly led by 25.3% YoY growth in volumes to 0.72 MT (vs. I-direct estimate of 0.70 MT). However, realisation declined 12.4% YoY to | 3,584/t (vs. I-direct estimate of | 3,679/t) EBITDA margin declined 817 bps YoY to 8.2% (vs. I-direct estimate of...