Yes, sir. Thank you so much for the opportunity. Sir, could you please provide a breakdown of the current unit economics of the battery energy storage system projects, specifically the capex per megawatt hour and what internal rate of written IRR are we targeting both with and without VGF. Also, additionally, the government has reduced the VGF rate from INR27 lakhs per megawatt to INR18 lakhs per megawatt. So what are the underlying reasons for this revision?
Yes, sir.
Yes, thank you so much for the opportunity. So, sir, I want to understand a little deeper in terms of gross margin. So, like gross margin fell 6.5% this quarter and 4.4% impact due to changes in inventory means we sold much of the higher cost inventory we have in last quarter, right? So, could you break down how much of the gross margin drop came from under a bsorbed fixed overhead or pricing change or is it like one of inventory adjustment? Basically, I want to break up of 4.4%?
Okay, so the figure 4.4% in change in inventory contains all the overheads, right? There is nothing raw material cost or maybe…my understanding is right?
So I have only two questions. First question on the side of contrast media. So could you provide an update on the -- any latest developments in the contrast media segment? Specifically how are you positioning Divi's against the competition? What kind of traction are you witnessing in terms of client adoption and market growth?
Next question is related to tariffs. So considering the potential for the changes in U.S. trade policy, particularly around tariffs under Trump's influence, what risks do we foresee for this in terms of cost structure, supply dynamics and overall export? Like also how are you mitigating this risk?