Kajaria Ceramics posted a weak set of Q4FY20 numbers on the topline front with steep volume decline due to Covid-19. Sales volumes fell 20% YoY to 18.2 MSM on account of Covid-19 impact, specifically in the second of March. However, it is pertinent to note that the volume decline was relatively lower than ~28% decline reported by its key peer Somany Ceramics. The topline de-grew 20% YoY to | 652 crore. The EBITDA margin contracted 76 bps YoY to 14.3% and was higher than our expectation of 13.2%, largely on account of lower other expenses. EBITDA at | 93.4 crore fell 24.1% YoY....