ICICI Securities Ltd | Retail Equity Research Sagar Cements' results were a mixed bag. Though robust demand from infra fuelled the volume growth by 35.3% YoY to 0.92 MT, prices remained weak (down by 5.4% YoY to | 3470/t). As a result, revenues increased 28% YoY to | 319 crore (vs. I-direct estimate: | 320.4 crore) Margins were under pressure with EBITDA margin falling 322 bps YoY to 9.4% (vs. I-direct estimate: 12.3%) mainly led by higher raw materials expenses up 73% YoY to | 70 crore and 28% YoY on a per tonne basis...