Competition, lower offtake by retailers impact sales growth FY19 was a challenging year for Page, with revenue growth tapering to 11.8% YoY (lowest ever sales growth) to | 2852 crore. As per the management, overall slowdown in the consumer demand and de-stocking by retailers (20-40% across certain regions) were major factors that led to deceleration of revenue trajectory. Furthermore, increasing competitive intensity in the premium category might also weighed on growth. The management highlighted that currently it has ~19-20% market share in...