Neha Talreja

Just two questions from my end. Firstly, going ahead with your capacity expansion, like you said that you are, you know, you're looking at a growth of about 11%, 12%-odd, which includes outperforming industry. Just wanted to take a sense, why are we then adding capacity by 15 % to 18%-odd? Like each year we are seeing capacity expansion close to about 15% to 18%-odd?

Sir, I got that. So in that case, we can assume that Wavin volumes sales will be over and above your capacity addition. I mean, in terms of whatever guidance you have given.

So you're saying volume growth of 11% to 12-odd percent with Wavin acquisition versus your capacity addition in FY '25 itself is 18%. And again, you're planning around about 15% capacity addition in FY '26.