ICICI Securities Ltd | Retail Equity Research Kewal Kiran Clothing's (KKCL) Q2FY17 revenues were in line with our estimates. Revenues increased by 9% YoY to | 155.32 crore V/s our expectation of | 156.4 crore. Volume growth was flattish with sales volume of 14.79 lakh garments v/s 14.89 lakh garments in Q2FY16. However increase in average realisation by 8.5% to | 1008 enabled the KKCL to report a growth in revenues EBITDA declined by 2% YoY to | 36.9 crore. EBITDA margin declined...