My first question is for Dr. Om. You mentioned that the new labs have stopped coming in, but has that resulted in let's say lower valuation in the existing labs? I am asking this because you have Rs. 1,100 crore of cash and I think it makes sense to follow the roadblock strategy. Yes, that would be my first question.
I see. And the second is clearly you are focusing a lot on growth. Are there any adjacent areas that you are exploring to further accelerate the current rate of growth?
If I look at margins on a 9M basis be it gross margins or EBITDA margins so gross margins are expanded by 2% points and EBITDA margins 3% points. And Dr. Om, I remember in the last call you mentioned that having higher margins you also attract more competition. So, the question I'm coming to is, is there room for you to reinvest these margins to accelerate volume growth which I believe comes out from the call that's a key metric you want to improve.
Dr. Om, you also mentioned about driving a durable growth which in my opinion is through number of patients increasing but on 9M basis, patients have increased by 2.5% odd and your number of tests have grown by 8% which implies that this bundling of test is working really well. But organic patient volume growth in your mind will that be a right metric for that durable growth that we just referred to?
So, you quantified this $8 million to $9 million to be invested for complex hospital generics in FY’25. Does it cover all the geographies, clinical requirements, incubating new distribution channels, regulatory front? It covers everything or is it just the developmental investments that you are making?
And would you be able to quantify how many those years you are targeting across the market?