Q1FY21 revenue de-grew sharply by ~85% YoY owing to lock-down in April & May, and nil production due to Covid-19 pandemic. Usually Q1 is the strongest quarter on account of high demand due to school openings. However, the schools are now closed due to lock-down. Despite gradual relaxation in lockdowns, prevailing uncertainties are impacting the discretionary demand. Currently BIL's ~85% stores are open and the company has achieved ~35-40% of the pre-Covid business levels as per management. To generate demand in the current scenario, BIL has launched two new products to suit work at home, strengthening E-commerce channel, rolled out two new...