FY19 was a challenging year for the company with moderate topline growth of 4.8% YoY to | 1816.2 crore. The management highlighted that market conditions remained sluggish post implementation of GST while normalisations at dealer's level took longer than anticipated. To address this issue, the management had to invest in marketing spends and trim its average realisations especially for garmenting segment. This translated into 90 bps margin contraction to 13.2% YoY in FY19. With stabilisation of trade channels and higher number of wedding dates in FY20, we expect revenue...