Sir, can you provide some guidance or color if you can, let's say, what sort of cargo volumes we can expect in FY '26 and potentially what sort of logistics revenue you will be targeting to clock in FY '26?
So 50% growth is at the entire logistics, not just Navkar, so total?
My first question is regarding your Distribution segment. Can I get some idea like what would be the contribution of RECD and dual fuel kits, let's say, in the distribution mix? The reason that I ask, I also want to get a sense of the continuity because I guess, there is still a lot of, let's say, pre-CPCB IV products that needs to be converted. So can you throw some color on that aspect?
So is it fair to say that this level of distributions, at least for the 9 months that you have delivered, that should possibly continue or maybe grow in the next coming years. So would that be a fair assessment?
My first question is regarding your Distribution segment. Can I get some idea like what would be the contribution of RECD and dual fuel kits, let's say, in the distribution mix? The reason that I ask, I also want to get a sense of the continuity because I guess, there is still a lot of, let's say, pre-CPCB IV products that needs to be converted. So can you throw some color on that aspect?
So is it fair to say that this level of distributions, at least for the 9 months that you have delivered, that should possibly continue or maybe grow in the next coming years. So would that be a fair assessment?
Congratulations, ma'am, for your new responsibilities. So my first question is on the PowerGen side. If I recall in the last con call, what we heard was that there was a lack of channel inventory for CPCB IV because there was a lot of pre-buying. So what is the inventory level at the channel right now? And also parallelly on that question, I would add on one more thing is, what I understand is that most of the players are offering 2 years comprehensive warranty. And then on top of that, 3 years critical parts warranty. So isn't it going to lead to higher warranty provisionings at your end in case if you are following the same trend. So that's my question.
Okay. So -- and then one more question that I have is recently, what we are seeing is that, at least from the data shared by ICEMA that the construction equipment sales growth has been falling. For example, in 4Q, what used to be 21%, is now like 1% construction equipment sales growth in September. So how confident are we that our construction segment or the industrial sales will continue on their growth momentum?
Congratulations, ma'am, for your new responsibilities. So my first question is on the PowerGen side. If I recall in the last con call, what we heard was that there was a lack of channel inventory for CPCB IV because there was a lot of pre-buying. So what is the inventory level at the channel right now? And also parallelly on that question, I would add on one more thing is, what I understand is that most of the players are offering 2 years comprehensive warranty. And then on top of that, 3 years critical parts warranty. So isn't it going to lead to higher warranty provisionings at your end in case if you are following the same trend. So that's my question.
Okay. So -- and then one more question that I have is recently, what we are seeing is that, at least from the data shared by ICEMA that the construction equipment sales growth has been falling. For example, in 4Q, what used to be 21%, is now like 1% construction equipment sales growth in September. So how confident are we that our construction segment or the industrial sales will continue on their growth momentum?
So, my first question is with regards to the Middle East. So, just a clarification question. So, it was reported in the media that L&T is well placed on a multi-billion Safaniya oil projects order. So, can you just answer if this is already included in this quarter, or this is something yet to be finalized? So, that's the first one.
No, I mean, in the current quarter order inflows.