Yes, hi. Good morning and thanks for taking my questions. So just -- most of them have been answered. Just on the -- I mean, just a data point on spare parts sales, could you give us what is that for this quarter and the year?
Okay. And just also in terms of like you've talked about a few things, but in terms of what is the total R&D spend that we had during the year? And how do you see that trending going forward?
Sir, just a couple of questions, just follow-ups to the existing ones. So one is that in terms of we also have a fair amount of import content, which is, I think, yen denominated. And we've not really seen much I mean, well, yen has also been weak like the rupee. So it's not really been relatively we've not seen much depreciation of the rupee versus the yen. So would it be correct to understand that then that the rupee depreciation would not have impacted you other than the copper-related stuff, right?
Got it. And the arrangements would be similar, right, like you're say ing 3 months for most customers?
Good evening. Thanks for taking my question. Just one question from my side. Essentially, on the railway equipment like we've been saying we have a strong order book. We started the year very strongly, but then last two quarters we've been showing a year-on-year decline despite a good order book. So could you just highlight what exactly is happening there?
Okay. Thank you.
Congrats on your consistent performance and improvement over the years. Sir, just on trying to understand on the EV side, right, like you mentioned that there is clearly a very aggressive price competition happening in this space and that has sort of dente d your market share as well? Although, I think it's still a respectable performance, but just trying to understand if the environment was to persist like this, then how do you plan to address this? So will you be addressing this through a vari ance which narrow the price gap? Or what is going to be the strategy for TVS in terms of the EV 2-wheeler space?
Got it, sir. Sir, just on the capex and investment side because this has consistently been at fairly high level of around like INR1,000 crores for the last few years and again, investments in excess of INR1,000 crores. So could you give us some more sense, right, like how much of this capex is product development versus, like capacity enhancement versus some localization, just trying to get more sense on where the money is going, right?