Ankit Kedia

Sir, just within Pantaloons division, if I have to take OWND out there, what could be the Pantaloons margins, if I exclude OWND and what are the losses in OWND products?

So, in this environment where you said demand challenges could come in second half, and we're also looking at price increases to mid - to high single digit, the confidence in Pantaloons would be significantly higher versus OWND. And hence, should we have slower stores opening in OWND versus Pantaloons this year?

Sure. My next question is for Tasva. Our check suggests you're entering womenswear in Tasva as well this year. So, from a profitability perspective, FY '28, does that include entry into womenswear in Tasva as well or no?

So, just double-clicking on the CAPEX number again once, you just mentioned INR 200 crores for 300-odd stores. Historically, only 20%-25% of the stores are COCO stores. So, typically, for 60 stores, INR 200 crores number and 1,500 average square feet size seems to be on the higher side.

So, today, how many of our stores are COCO stores for us where we do the CAPEX?

Understood. Our second question is on the PLI scheme. The INR 20 crores which we got, is it annual number for how many years I know it's linked to production. But typically, how will this number flow because that is straight to EBITDA. So, is the number on an increasing trajectory for next two, three quarters, years?