ICICI Securities Ltd | Retail Equity Research Exide Industries' (EIL) Q3FY17 revenues grew 12.6% YoY to | 1,729 crore vs. our estimate of | 1704 crore. According to the management, growth in replacement sale of 4-W & 2-W batteries continues to be encouraging. However, demand in the OEM business (particularly 2-W batteries) was extremely sluggish. Growth in UPS and solar batteries has shown an improvement in Q3FY17 EBITDA margins contracted 229 bps YoY & 190 bps QoQ to 13.3%...