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Yes, hi. I have got 2 questions. One question is on the margins on the IMFL business. So, in the last quarter, the margins were about 22%. And in this segment, the margins are about 20%. So why is -- so they should be either stabilized or flat or they should be increasing as the brand awareness increases. So, what is the purpose of reason for this?
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Yes, understood. So, is there any -- on the quota side, any visibility for quarter 2 FY27 and quarter 3 going ahead? Is this quota limit going to be remaining the same or it's going to increase at least some bit?
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Yes. Perfect. So, my last question is, again, coming back on the IMFL. So, assuming the other segments, the ENA, the ethanol and the IMIL remains more or less flattish. So, the main growth would be coming from the IMFL business and with the launch of tequila in quarter 2 FY27 and RTD segment bringing more volumes. Is my understanding correct on that looking forward on the quarter 2?
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Analyst questions
Sumit Agarwal
Firm not listed in source transcripts
1Call
1Company
ASSOCIATED
All company callsAssociated Coaters Ltd
Associated Alcohols & Breweries Ltd.
27 Jul 2026