We had recommended Menon Pistons on May 25, 2017, on the basis of positive auto sector outlook and expected volume growth due to change in emissions norms triggering replacement demand. Menon Pistons was impacted by GST and uncertainty related to the same in Q1FY18 and also the higher metal prices pressurised the margins. Hence, revenue fell by 10 per cent to Rs.33 crore and EBITDA dropped by 20 per cent. This led to decline in PAT by 27 per cent. We see that share price has recovered as the uncertainty on GST has been cleared and the auto sales data has been positive. Hence, we urge investors to BOOK PROFIT on the scrip.