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I was just -- I'm fairly new to the company. So I'm just trying to understand a little bit more around the capital allocation decisions over the last few years. In FY24, we invested INR197 crores. In FY25, we did a capex of INR97 crores. In '26, we did a capex of INR136 crores. In '27, we plan to do a capex of INR150 crores.
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Yes. I mean I'm asking on the rationale for capital allocation, which I believe is a function of ROCE, as mentioned by the CFO in the earlier calls.
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Right. So I mean, can you help us understand the bridge? I mean, what's going to get you from the current 11% ROCE in FY26 to a 22% ROCE. How is that going to be bridged? Is it just purely a function of depreciation wearing off? Is it a function of your margin improvement? Can you just help us quantify and bridge that number, please? That would be helpful.
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Analyst questions
Devavrat Jatia
Seven Rivers Holding
1Call
1Company
BOROLTD
All company callsBorosil Limited
Borosil Limited
19 Aug 2026