Shraddha Kapadia

I would like to congratulate the team for a good set of numbers. And my first question is, if we take a look at the steel prices have increased meaningfully during the quarter around 13% Q-o-Q, but the EBITDA per ton has improved by only approximately 3% Q-o-Q. Additionally, the EBITDA margins contracted sequentially despite a lower contribution from the plasticated LRPC business.

Sorry, the basic question is that the steel prices have increased by approximately 13% Q-o-Q, but our margin on a per ton basis has increased by 3% Q-o-Q. So, is there any major reason for that?

Okay. Also, would it be possible to just give a basic understanding as to how much of the increase we get from the realization is from the commodity pass- through or due to the richer product mix?