Jyothy Labs (JLL) posted a disappointing set of numbers with 24% revenue & 22% volume decline as the company lost last 10 days of sales. JLL lost | 150 crore sales due to lockdown. Fabric care & dishwashing category revenues saw de-growth of 16.5% & 21.4%, respectively. Further decline in household insecticides (HI) & personal care category revenue was even sharper at 36% each. This was explained by the management as loss of preseason stocking with trade channel. However, such a sharp decline in all categories seems to be more than 20-25 days sales loss, which depicts strategy of pushing inventory to trade at the end of quarter/year. Operating...