Anirudh Shetty

I have 2 questions more around just the overall industry per se. Sir, my first question is it pertains to the new energy vertical and what I've been reading is that companies in China like BYD and CATL are talking about like a further 50% reduction in battery cell prices for this year. Through a combination of just dumping and government support, scale, automation, they're able to kind of keep prices very low.

Yes. And a slightly different question, but more on the stationary storage side, we are seeing capacities being added, but the battery storage still remains underpenetrated. So what are the constraints that are there today? And what would need to happen for the battery storage to pick up in India?

Got it. And on the battery storage front...

Thanks for the opportunity. I have two questions. So , my first question was essentially on just buyer behaviour, given that fundamentally drives traction on the platform, given that we have a fairly sizable number of registered buyers already around 16 - 17 Cr buyers and the number of active buyers has kind of remained flat. So, what is your broad sense around the usage of IndiaMART by potential buyers in India?

From the customer's viewpoint, is the buyer looking for products that are very bespoke, very discrete, such that their consumption for such products will be actually very infrequent? Or are they actually more like the repeat type of buyers who kind of needed at more frequent rate? Just to understand the enquiry.

Absolutely. And just one final question. We are exploring Tier 3, 4 cities, towns, and you mentioned it's a long process. But I wanted to understand that finally for the suppliers there, we think that the value proposition for IndiaMART is strong and their ability to kind of cater to buyers' requirements exists or other constraints around just the infra being underdeveloped or them being so deep in the hinterlands…

Sir I have two questions. My first question is, over long period of time we're looking to do 20% growth which is above the industry and 20% ROE, do you think that could be any sort of inherent conflict between achieving these two outcomes, because to achieve that 20 % ROE, there is a certain loss ratio we would like to kind of maintain, which would mean we need to take price hikes, exclude certain customers to…

Got it and do you believe that once the price hikes that we take are fully in the book, our price competitiveness versus the industry is that something that we will be able to maintain?

Right. I understand that, my second question is, off late in the news there's been a couple of reports around claim settlement ratio and the claim rejection ratio, I understand that there's no standardized number and product mix can be different for peers, but can you just elaborate on whether at least for a genuine customers, what is the right claim settlement ratio to look at for the genuine claims?