Naushad Chaudhary

Congrats on a decent set of numbers. First, on the capex announcement of INR1,050 crores with 36,000 tons capacity. So this despite being brownfield expansion and assuming in a best case, we reached a full utilization of 36,000, assuming INR1,000 per kg realization, we get around INR3,500 crores of revenue. So looking at our historic number versus our peers, the asset turnover of this investment looks very low, sir.

Okay. Second, was there any inventory gain in this quarter, sir?

Okay. And your staff cost also looks substantially improved. If I look at sequentially also, last quarter, INR90 crores run rate, which has come down meaningfully despite such big volume growth. How do you explain this, sir? And should we look at this as a new normal for the company?