On a consolidated basis, revenues were at Rs 2,440 crore (up 35% YoY), vs. Our estimate of Rs 2,164 crore. Revenue from India (adjusting excise duty) increased 36.4% YoY to Rs 2,137 crore (volume of standalone business grew 35% YoY to 96,000 MT) while revenue from Mexican operation grew 21% YoY to Rs 345 crore (with volume growth of 20% YoY to 16,000 MT) The EBITDA margin came in at 13.3% (down 108 bps QoQ) vs.
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