Pradip Pandey

Hello, sir. Thank you for taking my questions. I had two questions. One was on precious metal cost, which has been on the rise since the middle of Q1. And since your royalties are linked to revenues from operations, what impact do you see on margins in that sense? That's one. And so, okay, let's first go ahead with one and then I'll ask the second question?

Yes. Understood. The second was on the EBITDA for last year. So, we reported 18.6% for the full year. And as I see the first half EBITDA margin is 19.5. So, is there an element of seasonality in the margins or was there some higher margin that were done in the first half? That is why we see the margins to be slightly subdued in second half?