Yes. Hi, Prabha and team. Just wanted to understand when you talk about premium, first is how do you define it internally? And secondly, if you can share some data in terms of what was the contribution of premium, let's say, a couple of years ago and what it stands today to your overall sales?
So, sorry, premium is 35% of sales currently? Did I get that right?
Am I audible?
This is Percy Panthaki from IIFL. Maybe just had a question on your owned brands in beauty. You've done exceedingly well in this portfolio. There's been a 65% growth Y -o-Y. Dot & Key must be probably close to INR 1,000 crores in NSV terms. How do you see this portfolio growing now? I mean, on this base, which is a pretty high base now, do you think that this growth rate maintains or it slows down a little bit given that it has already scaled up to a meaningful size now? And it would be unrealistic of us to expect the same kind of growth. And I'm sure that, as you said, these businesses are at higher margin. That is probably one of t he reasons contributing to the margin expansion in the Beauty segment this year. If the growth of that portfolio slows down, do we see that lever to push u p margins in the coming 1 or 2 years being a little weaker than what it was?
Hi, sir. Just one more question on your gross margin. Sequentially, it has gone down close to about 150 basis points. If I look at the information you have given on each commodity, and what is the impact to the revenue on a sequential basis, like some of them are 0.37 negative and 0.19 positive and so on. So if I add that up, that is coming only to approximately 40 bps negative, which is much lesser than the drop in your gross margin. So what explains the remaining drop in the gross margin?
Understood. Understood. And regarding your PLI benefit, once it starts, once you start recognizing it, approximately on a quarterly run rate or a yearly run rate basis, what is it going to be as a percentage of your revenue on an ongoing basis?