Significant Demand Pick-up to Aid Growth: Q3 numbers hit by Macro factors - Menon Bearings has registered turnover de-growth of 11.8% sequentially mainly owing to unfavorable demand environmentcaused due to demonetization, however has shown 11.9% YoY growth for Q3FY17 owing to improved volumes. EBITDA & EBIT margins have contracted by 207 bps,266 bps QoQ and 125 bps & 196 bps YoY respectively. 9 months YTD performance has been optimistic with a sales growth of 11.9% along with EBITDA, EBIT & PAT Margin expansion of 217 bps, 166 bps & 167 bps to reach 26.9%, 22.3% & 14.7% respectively.