Robust Guidance for FY17E and beyond: CUMI management has guided for FY17E revenue and PAT in the range of Rs.22,500mn to Rs.22,750mn and Rs.1,850mn to Rs.2,000mn respectively. In the medium term, over two to three years with all facilities running flat could help in clocking revenues in the range of Rs.3,000mn to Rs.3,500mn along with considerable operating leverage allowing for margin expansion. In terms of medium term outlook for business segments, Abrasives, Ceramics and Electrominerals could grow in the range of 12%-14%, 14%-16% and 18% plus respectively.