ICICI Securities Ltd | Retail Equity Research Balkrishna Industries' (BIL) revenues grew 18.9% YoY to | 1,325 crore (vs. estimate of | 1,424 crore). Volumes grew 6.1% YoY to 52,339 metric tonnes (MT) (vs. expectation of 56,237 MT) EBITDA increased 9.1% YoY to | 333 crore vs. our expectation of | 411 crore. EBITDA margins came in at 25.1% (down 226 bps YoY & 115 bps QoQ) below our estimate of 28.8%, mainly due to higher other expense that increased 548 bps YoY & 167 bps QoQ...