due to Covid 19 impact. APNT has started safe painting campaign and expects labor to return once normalcy is restored. However, slowdown in real estate and guidelines on construction activity will impact sales in near term. Despite near term challenges, we remain positive in the structural growth story due to 1) product portfolio straddling across price points 2) huge scope in entry level paints given deep distribution (2x nearest competitor) and 3) success of new products at 15-20% lower prices. We marginally tweak our estimates given low input costs and lower dividend and capex and estimate...