Just a couple of questions. First is, if you can just give some sense on what the HoReCa contribution is to us total U.S. revenue and the same number for our Europe revenue. The idea is I'm trying to understand whether basmati is in these countries is more consumed in home or in HoReCa?
So this is for U.S. or total?
Just a couple of questions. First is, if you can just give some sense on what the HoReCa contribution is to us total U.S. revenue and the same number for our Europe revenue. The idea is I'm trying to understand whether basmati is in these countries is more consumed in home or in HoReCa?
So this is for U.S. or total?
First question is on the F&O market share. So the broader understanding was post March, post the last phase of regulations, we'll again start seeing the gains in line with increase in retail activity month-on-month. So that really hasn't happened, right? Like there were some market share gains in the month of May. And then again, June was a lower month -- subdued month for us. So how do we -- I know it's just 1 month, but like how do we really see this going forward?
Sir, just a follow-up. So how do we see this F&O market share evolving for us over the coming months? Are we expecting to make gains? Are we expecting to just maintain? And in case we are looking at gaining share, then what would be the drivers for this?
So 2 questions. First one is, if I look at your F&O market share, there's been a slight moderation in Q4 compared to Q3. So how should we maybe look at this going forward given that anyway, the market share gains have already slowed down compared to earlier quarters? And similarly, on the commodity side, the last 3 quarters, we've been seeing a declining market share. So how should we really understand this? And if you could maybe comment on the players who seem to be taking the incremental market share? That's the first question.
Understood. Well understood. And second question is on the activation rate. So one would ideally expect this number to -- at certain times, if I compare over the last several years, quarter- by-quarter, one would expect this number to at times go up, especially during a bull run when you expect maybe the active clients would start growing faster than the total clients and maybe decrease during a bear run or a flat markets. But what we see is it has continuously declined over the 2-, 3-year period quarter-on-quarter. So if -- like why is this happening? And if this is happening, so then is it even a right metric to look at total client acquisition given that maybe we are anyway not able to convert a larger chunk incrementally into active ones?
Thank you for the opportunity. So, pardon me for being a bit new to the company , some of the questions would be basic. First question is on the distribution side we've seen a flat EBITDA, operating EBITDA, Y-o-Y. And the EBITDA number has even declined by 17%. So what is the reason for the same?
Rs 9,000 crores will reach by year-end from what number currently?