Dhruv S

Thank you for the opportunity. So my first question is, sir, could you help us understand the sustainable margin profile of the business? Historically margins have been quite volatile, like we have seen volatility with freight rates and trade cycle. As the business normalizes, what do you see as a sustainable long term EBITDA margin and what are the key factors that could drive if it's higher or lower from here?

Okay, sir, thank you. My second question is given the ongoing geopolitical disruptions, changes in trade routes, and increasing supply chain diversification, how are you thinking about the medium to long term growth opportunity for the business? And do you see these disruptions as a structural opportunity for volume and market share or are they like likely to remain near term headwinds for growth?

Okay, sir. Thank you so much.