Shyam Maheshwari

Yes. Thank you for the opportunity and congratulations to the entire Waaree team on a great set of numbers. Sir firstly on the gross margins, wanted to understand a little bit more in detail. If it was just the cost of the sourcing of the cells at a lower cost that played a part or has pricing also moved favorably in the last 6 months post the implementation of ALMM So has the pricing also contributed to the state…

Interesting. So the $0.17, $0.175 that you're mentioning in the utility market, what was that maybe pre-ALMM, if you could just give a comparative figure?

Okay, and secondly, wanted to understand from a strategy point of view, we're making quite a few ancillary acquisitions and business opportunities. Particularly on the inverter side, wanted to understand what was the thought process for going into this business and what is the existing competitive landscape here?