Surge in auto & auto components sales & uptick in industrial activity to up revenue by 10.3% for FY15-FY18E: With automotive industry estimated to grow at a CAGR of 10.1% for FY15-FY17E coupled with auto components industry expected to record a CAGR of 24.5% to reach a high of $115Bn by FY20E from the current levels of $38.5 Bn combined With IIP & core sector growth, finally exhibiting signs of recovery on the back of strong macro-economic factors. Menon bearings, having a near perfect correlation with auto sales & IIP growth, is well poised to grow at a CAGR of 10.3% for FY15-FY18E.