Ganeshram Rajagopalan

Thank you for taking my question. The first question is a clarification to what Ravi was asking. So when we look at the near doubling in the enquiry book and you've gone into quite some detail about it. Just to be sure, this enquiry, are you only capturing the steam turbine opportunity? Or does it include enquiries from API, for example.

Okay. Understood. And the second question is on the long -duration energy storage itself. When we look at the commentary from your technology partner globally, they seem to have signed up a partnership with Google and with ENGIE for offtake, building in the U.S. with Alliant Energy.

Understood. And another clarification is just on the commodity environment. We're seeing prices spike up quite significantly. So generally, when you're pricing, do you have pass -throughs? Or do you have a certain portion that's fixed?

Thank you. I just have a few questions to start with. And maybe the first one is on the margins, right? What we're seeing is the raw material cost just on a quarter -on-quarter basis seems to have gone up. Maybe if you could give us a bit of clarity on what's happening there? And if you could quantify the impact on the margins because of the one-off repair expense you had and the freight expense you have?

All right. So, if I have to interpret what you're saying, you're attributing it mainly to a change in product mix and the freight, and by underlying raw material wise, you're not seeing any delta. Is that the right interpretation?

So that's about 24% full year, right, if I remember correctly?