Just a couple of clarifications. Will it be possible for you to quantify the exact price action that you have taken? That 7%, 8% plus a couple of price hike, 1% to 2% in the second round? And what is the gap in terms of -- you mentioned double-digit price hike could be expected to fill up this gap. So, a, if you can quantify these numbers? Second, can you share what was the volume for RAC for us for fiscal '26? And lastly, can you share with us what is the broad mix of the MEP order book between domestic and international?
Questions across 2 calls
Renu Baid Pugalia
IIFL Capital
Voltas Limited
ABB India Limited
Congratulations for the strong results. My first question is, Sanjeev, if you look at the order flows, excluding the automotive large order in RO, your broad comments still have been fairly positive on the ordering environment as we look for CY '26. Given that metro order also we've announced for Jan, how should we look at the order inflow momentum heading towards the next calendar year? And in general, what are your views on the broad investment sentiment? Have they improved? Are they still same? The y're expected to accelerate over the next year? That's the first question. And second, our margins for last year on an annualized basis were about 16%, excluding impact of the New Labour Code. And now that incrementally demand outlook and volumes are looking better, how should we look at the margin environment for the next 12, 15 months? Can we expect margins to improve? Have they bottomed out? Or are they likely to be range bound the way they have been for the last 3 to 4 quarters?
Which could be the key end markets which are driving this?