Demand pickup, new products to drive future growth A sharp slowdown in macro environment has impacted the sale of cranes, which contribute ~72% of ACE's topline and ~81% of overall EBIT, thereby resulting in weak operational performance for Q1FY20 as well. The company has been hit by higher inventory levels as it had expected the infrastructure and industrial markets to rebound post elections. However, markets have continued to remain sluggish. Inventory levels are expected to revert to normal levels over the next couple of quarters. On the positive front, there...