ICICI Securities Ltd | Retail Equity Research Q2FY19 results were higher than I-direct estimates on all fronts. Revenues grew 15.4% YoY to | 997.8 crore (I-direct estimate: | 950.5 crore) due to 23.2% growth in export formulations to | 288.3 crore (Idirect estimate: | 282.9 crore). Domestic formulations grew 10.3% YoY to | 468.6 crore (I-direct estimate: | 446.0 crore) EBITDA margins remained at ~17% but came in higher then I-direct estimates of 15.5% mainly due to a strong gross margin performance. EBITDA grew 15.9% YoY to | 172.8 crore...