Revenue trajectory decelerated in Q4FY20 owing to nationwide lockdown from mid-March onwards. For 9MFY20 (April-December), Hawkins continued to outperform peers with revenue growth of 13% YoY. New product launches and higher marketing spending aided topline growth. However, due to significant fall in revenues in Q4FY20, Hawkins exited FY20 with topline growth of mere 3.2% YoY to | 673.9 crore. Despite subdued topline growth, it saw significant improvement in margin profile with EBITDA margins expanding 220 bps YoY to 15.4% in FY20 (one of the highest...