Post demonetisation, V-Guard posted strong revenue growth of 21% led by strong sale growth of stabilisers, inverters, pumps and wire & cable segments, to 25%, 29%, 24% and ~21% YoY, respectively. Revenue from the non-south region recorded strong growth of ~31% YoY. The company also launched its smart series inverter, which is controlled by an intuitive smart phone app The rise in raw material coupled with a delay in passing on prices led to a contraction in gross margin by ~190 bps YoY. In addition, one...