ICICI Securities Ltd | Retail Equity Research HEG reported a subdued set of Q1FY17 numbers wherein the topline, EBITDA and PAT came in notably lower than our estimates The topline for the quarter came in at | 163.2 crore (down 32.5% YoY and lower than our estimate of | 224.9 crore) EBITDA came in at | 3.2 crore (down 88.1% YoY and below our estimate of | 21.4 crore). The EBITDA margin came in at 1.9%, lower than our estimate of 9.5% (EBITDA margin of 9.3% in Q1FY16)...