ICICI Securities Ltd | Retail Equity Research HEG reported a stellar Q2FY18 performance marked by healthy capacity utilisation levels and a sharp increase in realisation Topline for the quarter was at | 409.5 crore (up 115.5% YoY, 99.4% QoQ, notably higher than our estimate of | 303.3 crore). The capacity utilisation during the quarter was in line with our estimate of ~85% The raw material cost (as a percentage of sales) declined to 29.8% in Q2FY18 (vs. 47.7% in Q2FY17 and 46.4% in Q1FY18). The lower raw...