ICICI Securities Ltd | Retail Equity Research McLeod Russel India (MRIL) reported 13.8% YoY decline in sales for the quarter to | 432.6 crore (I-direct estimate: | 489.4 crore). Pressure on both demand and price in export as well as the domestic market continued for the quarter due to the excessive production in Kenya. Tea price per kg declined by 10% YoY to | 170.3 and the volume declined by 4.2% YoY to 214 lakh kg Decline in sales and substantial increase in employee cost (up ~10pp...