Utkarsh Nopany

Sir, my first question is regarding the paper price movement in the September quarter. So like we believe that September quarter is a seasonally weak quarter for the printing and writing paper segment. So just wanted a sense from you whether the industry h as seen any correction in the paper prices in this quarter versus June quarter or any discounts have gone up in September quarter period?

Okay. So the prices have remained flat on a Q -on-Q basis despite a weak demand in the September quarter. Is that the correct understanding? Yes. And sir, if you can give some sense what would be the imported paper price of Copier and Maplitho near port area at present, if you can give some sense?

And sir, what has been the change in the timber price in Q1 on both Q -on-Q and Y-o-Y basis for you? And what would be your outlook for timber price over the next, say, 12 - to 18-month period?