Revenue grew by 9.5% y-o-y, as volumes and realisations each rose ~4% and the core brand Killer clocked strong sales growth. However, gross margins plunged by 473 bps owing to a rise in cost of goods sold, higher discounts and trade margins. The management expects gross margins to stabilise in the coming quarters. Consumer demand is yet to recover, while primary sales (from company to trade-channels/retail partners) are affected by liquidity crisis. Hence, KKCL is expected to end FY2020 with high single-digit revenue growth. The company is organising trade fairs,...