Decline in Raw material costs leads to operating margin expansion:Subros reported revenue of Rs. 3729Mn in Q3FY17 up by 13.4% YoY and down by -14.8% QoQ where EBITDA margins stood at 11.2% this quarter as against 10.7% in the previous quarter, majorly driven by raw material cost decline. However, PATdeclined by -24.0%/-45.6% in QoQ/YoY due to exceptional expenses on account of the fire accident at their Manesar plant. Also, employee and other expenses have slightly shot up in Q3FY17 as compared to the previous quarter.