Margins impacted due to RM volatility. Story remains intact. Maintain BUY Astral Poly Technik (ASTRA) Q1FY20 numbers were in line with estimates on revenue and profitability parameters. Piping segment (including Rex) reported volume growth of 41.2% YoY and revenue growth of 37% YoY. Adhesive segment reported flattish growth due to few structural changes in Resinova, which will be corrected in current quarter and management has guided for double digit growth for FY20. Margins got impacted due to inventory losses of approx. ` 70-80 mn. We believe that inventory losses...