V-Guards 4QFY17 revenue grew by a strong 21% (17% volume growth) to Rs 6.2bn (est 16% growth). V-Guard?s revenue recovery was encouraging, as 3QFY17 revenue growth was only 10% owing to the demonet impact. Cables & Wires, Stabilizers, Pumps and Fans (80% of business) registered robust growth of 21%, 25%, 24% and 14% respectively.