New Developments to Bring Optimism: Q3FY17 posted revenue of Rs. 3294Mn, which changed (10.2%)/1.6% in QoQ/YoYrespectively, not really indicating any major impact due to demonetization. 9MFY17revenues stood at Rs. 10504Mn, higher by 1.0% as compared to 9MFY16. EBITDA margin for Q3FY17 recorded 10.7%, down by 93bps QoQ and 90bps YoY due to increase in employee spending for their upcoming appliances division. However, other expenses have moderated this quarter by 111bps as compared to Q2FY17.