GOLIL delivered a healthy volume growth of 33% for Q1FY19 driven by strong growth across all segments and channel sales. We expect this sale to stabilize and retail channel to grow faster than B2B channel in FY19. Raw material prices are now stable, however, GOLIL has taken a price hike in July 2018 to protect margins. Volume growth of GOLIL would be around 3x of industry average. This growth would be driven by the new product launches, expansion of distribution channels and focus on gaining more OEM tie-ups. Improvement in the working...