Vardhman Textiles (VTEX) sales, EBITDA grew 3% & 13% YoY whereas PAT de-grew by 60% YoY during Q3FY15. EBITDA margin decreased by 760bps YoY on account of higher cotton inventory. Going forward, management is optimistic on maintaining its margins on stabilizing raw-material costs, optimized product mix & higher turnover on capex.