Macroeconomic headwinds impacted the company's domestic air compressor sales growth in Q1FY20. As per management commentary, a similar trend is expected to continue in Q2 as well. After-market contributes ~24% to India's topline. Generally, these are higher margin businesses. Improved contribution from this will help stabilise margins, going ahead. On the automotive side, despite a slowdown in automobile sales, Elgi recorded healthy growth aided by two OEM client additions in India. An improvement in infrastructure investment and recovery in automotive industry are key...