Thanks guys and congrats on a good set of numbers.
My question is on the classified industry, which you just discussed. So you mentioned the industry may have been weak this particular quarter, and it's quite encouraging that you mentioned that you've gained share. But given the fact that or rather the size of the industry as such versus the overall spend that our end customers do on other platforms, why should our industry degrow? Shouldn't we be sort of growing at least or remain flat?
So just wanted to check on if you can just give us some update on the Bharuch, how is the ramp up? What is the -- what kind of utilization levels have we reached in this quarter?
Fair enough. Sir, just in terms of demand for commercial vehicles, what are you seeing? I think OEMs are indicating and various agencies are indicating a mid-single-digit kind of growth. So if you can give your outlook on the pure automotive business domestic.
Sir, I do understand you have already mentioned the reasons behind the slowdown in the consumer tech, and we do understand the prerogative that this business cannot be looked at on a Q-on-Q basis. But even on a 2-year CAGR basis, if I were to look at the growth, the growth has fallen down to 7% on a 2-year CAGR basis for this particular piece. And we have highlighted in the presentation that there were certain challenges. If you can highlight what exactly are those challenges that we faced. Is it that the use cases that should be increasing are probably slowing down, maybe because the customers are taking a bit more time? So what exactly is happening there? And on the marketing expenses, on the margins, over the last 4 quarters, we have spent about INR15 crores to INR16 crores on marketing. So we've already been doing that expense over a period of time.
No, I'm talking cumulatively, sir, on...
Yes, thank you for the opportunity. So my question is regarding margins. Now, over the last few quarters, we have seen almost a 10% point decline in our operating margins. Now, if I were to look at our revenue growth performance, apart from one, probably Q4, I think, of FY'23, where we had a decline sequentially, our sequential quarter -on-quarter performance has been quite decent. And if I were to believe that H2 is going to be better than H1 in terms of sequential growth, we should land up anywhere between 15% to 17% growth for the year. And 15% to 17% growth, per se, is really not that bad, given the scenario. But what worries me is despite that growth, we are looking at a flattish kind of a margin. I understand that we've made such investments, but could we have done better in terms of, guarding our margins for this year? And what gives us the confidence? And what is the kind of growth rates do we need to get back to that 28%, 29% kind of EBITDA margins? Thanks a lot.
Understood, sir. Thank you so much for the detailed answer. All the best.