Revenues for Q3FY19 grew 21% YoY to | 1451 crore (I-direct estimate: | 1346 crore). UBL recorded strong volume growth of 16% (I-direct estimate: 10%). UBL saw good growth in all key states except West Bengal, owing to high consumer prices, and UP, due to capacity constraints. UBL achieved revenues of | 3 crore for its non-alcoholic segment (commenced operations at Bihar plant in Q3FY19) EBITDA margins increased 433 bps YoY to 17.1% (I-direct estimate: 13.5%) mainly due to lower other expenditure to sales ratio (28.6% vs....