Gradual demand recovery post ease in lockdown restrictions While the Q1FY21 performance was largely hit by lockdowns, dealers also shied away from building inventory in the wake of various uncertainties. However, according to market leader in the plastic furniture space, JulyAugust saw ~85% demand recovery post ease in lockdown restrictions. We believe demand was largely driven by tier II, tier III cities where impact of pandemic was limited. We also believe, backed by strong supply chain management, organised players like WPL would have gained market share from regional/unorganised players as latter's business activities were...