FY19 has been a forgettable year for air conditioner manufacturers as weak summer conditions led to an inventory build-up across trade channels during the year and to clear the same, AC manufacturers were forced to offer steep discounts and extend working capital cycles, especially in the winter months(Q3 and Q4).

Sakshi Batra does a 3 point analysis to understand what Q1 may have in store for these companies and where should investors focus on ?