Thank you, Sachin. Next question is from Percy. Mr. Percy Panthaki Yeah. Am I audible? Mr. Gautam Sharma Yes Mr. Percy Panthaki Yeah, so sir, on the India margins, altho ugh there is an expansion there, I think our ambition was to expand about 150 basis points plus, per year, for the next few years. We are tracking below that level. So what is the reason that we are tracking below that and also what would be required or why do you think that we will come back to that level and by when? Mr. Supam Maheshwari Sure. Percy, I think if you look at it , the reasons that we have talked about in Q3, we believe that we could have grown little higher than what we grew in Q3. And if you would have got because of the winter sale , we had a delayed winter in the country. And, that would have actually led to a slight ly, I would say a higher proportion of even fashion as a category for us and winter sale, which would have meant more growth and given us more operating leverage, and more bang for our buck for our marketing spend. And also we had a few COCO stores that we cleaned up. And because of some of these reasons, we believe that we have left out some expansion that we could have had, being able to pocket which is not reflective in our numbers. And hoping that in the subsequent quarters and in the com ing quarters, we'll be able to recoup that but in a long journey of next four to five years you will continue to see our margin expansion because our levers for margin expansion pretty much remain the same. If you look at our AUTC growth, it is the highest ever. We were at 12% for the FY24, it became 14% for Q1, 16% for Q2, and now 17% for Q3. Had we not had this winter sort of an impact, maybe we would have had a higher sort of a coho rt leading to more higher sales, and more growth , given us , more operating leverage, more bang for our marketing cost and therefore you would have seen a little higher impact on the bottom line as well. So that's what I would summarize more of, I would say a short-term impact. But we still have grown 70 bps, on a nine- month basis . And we will conti nue to improve our gross margin, marketing efficiency , operating leverage , resulting into our core India multi-channel adjusted EBITDA over a long period of time. Mr. Percy Panthaki So Supam, would you say that over a three-year period, 500 basis points EBITDA margin expansion in India is a reasonable sort of number for us to go with? Mr. Supam Maheshwari While I'll not be able to specifically point out any specific number that you know would there be a 500 bps or x number of bps. But you should continue to see us performing every quarter on quarter , on a year- on-year basis, here when we meet every quarter and you should be able to see that performance improvement. Because we feel comfortable that we have not reached to a steady state, adjusted EBITDA. Mr. Percy Panthaki Got it. Got it. My second question is on the International business. W ith the increase in competition, do you think it needs us to revise our assumptions of what the medium term growth rate can be and how long we take to break even in this business? Or this is just something pertaining to one quarter and it doesn't require a revision in our sort of three year forecast of either top line or profitability. Mr. Supam Maheshwari Percy, it's a difficu lt question because we don't know that heightened sort of competitive activity will mean how long they will operate at that level. In India, over a prolonged period of time, we have seen everything becomes sober beyond a point in time. Everyone becomes cap ital efficient, everyone ties to become saner on that front. This was definitely recent two new entrants, which of course, splurged and created a lot of promotional acti vity. How long it will continue, we'll have to see it as you go along. But we believe that the moats that we have created being a niche mother's baby and kids vertical player, that will continue to deliver superior value to young parents like it does in India to the middle eastern market as well. So while it is very difficult for us to forecast in terms of exact i mpact of this competitive intensity, but we believe that our moats will play out in the longer run. So very difficult to really give you a very specific answer of time frame but we feel very confident about our moats and how will we play out as we go along. Mr. Percy Panthaki So these new players, are they sort of just adding the childcare category to an existing product portfolio that they have or they are completely new sort of players in all respects? Mr. Supam Maheshwari Completely new. Completely new in all respect. Mr. Percy Panthaki I see, I see. Mr. Gautam Sharma And Percy, we believe in consistent growth , so we will continue to grow consistently and keep on improving our margins. Mr. Supam Maheshwari For us, the bottom line is more important, Percy. We want to be ensuring our bottom line performance improvement is not being compromised. While we will have an eye on the top line in terms of how we have to manage to bring a balance between the two. But you should continue to see our improvement. Mr. Percy Panthaki And last question from my side, what is the number of stores that we have closed and what are the net store openings , both on a nine month basis if you can give that? Mr. Supam Maheshwari We had close to 508 store as of Dec’24 in terms of COCO. Out of which we have closed 38 stores . This is the first time that we have done this cleanup because we have never ever closed even a single store prior to this . We believe that , and the reason for closing these as well, we see the metric at an omni- channel way where two things are important for us. One is a footfall. And second is the wallet share of the customer in that catchment. We have a certain expectation at a multi-channel level, the wallet share of the customer as well as the footfall we had reasons and data to believe that in those 38 stores, we were not to the level that we would have wished. We are not exiting any particular city or location per se. But we had to close down to be able to optimize our location or our size and so on and so forth to be able to optimize the performance of those at a multi -channel way . So that, it solves our objective, obviously it will indirectly help to improve our profitability as well. Mr. Percy Panthaki Got it. So 38 stores have closed down and have there been any additions in the nine months of the year? Mr. Supam Maheshwari Of course. So Percy, we have on a net basis, we have added around 73 COCO stores in last nine months, which effectively means roughly around 115 stores have been added in last nine months, on a gross basis. Mr. Percy Panthaki Got it. Got it. That's all from me. Thanks, Gautam and Supam Mr. Supam Maheshwari Sure, thank you. Mr. Anish Arora Thank you, Percy. Next question is from Videesha. Videesha, please unmute yourself. Ms. Videesha Sheth Hi, Good Evening. Thank you for the opportunity. Just two small questions from my side. One is on the growth of home brands. If you could just elaborate on that. How is that been versus the overall India business growth of 17%? Even any indicative sense whether it's materially high or just marginally? Mr. Supam Maheshwari Videesha, can you introduce yourself? Sorry we couldn't seem to recall. Ms. Videesha Sheth Yes, I'm so sorry. Yeah. Hi, this is Videesha Sheth from Ambit Capital. Shall I repeat my question? Mr. Supam Maheshwari No, no, your question was very clear. So Videesha, as we have mentioned in our prior calls as well, our home brand share is quite material in our business because of very fragmented brands out there in the mother's baby and child category. Although we have 8,000 brands on our platform, but most of the brands are not that big and are fairly fragmented in terms of size. So our home br and share is quite meaningful and it has been growing on a year on year basis at a much higher clip than our overall India multi-channel. If I talk about at an India multi-channel level, our home brand share has been growing at a higher CAGR than the India multi-channel CAGR for many, many years in the past. So that has been compounding higher sort of a share. We have multiple brands that we have shared in the RHP, if you will recall. We have brands that are catering, Babyhug like, it is the India's largest mother's baby and kids product brand by GMV that was shared in the RHP. We believe that it continues to be the leading mother baby and kids multi-category product brand and it also happens to be, as was stated in the RHP, it is the largest product assortment brand in Asia Pacific, excluding China. We continue to believe it is the case even now , but as per the factual statement was stated in the RHP. So we believe with that, we will continue to increase our assortment , our power, what we can deliver better to our customers as we continue to l earn from our analytics, to be able to find the products that with customer behaviors and customer changing trends and patterns, what we need to bring and we continue to innovate in our in-house team, w hich design s and develop s all of these products, domestically and abroad. And that's how we will continue to do. So our home brand share will continue to improve and that's for India and even for the Middle East as someone asked, I think this was a question asked by Sachin. We continue to deliver we have built spe cific home brands even for the Middle East market we will continue to . This is a journey, it will take us time because, in the prior period before us, like in KSA, we have been there for only two and a half years now So it's just it takes time for a consumer to change patterns, change behavior and build comfort and trust with a brand. So as we go along on a longer time frame, we have built our product range. While our India home brands are gone to middle east a nd the specific home brands catering to that market also will continue to deliver i n that market. So over a longer period of time, our home brand share will continue to improve. And that is why it gives us great confidence that w e will continue to improve our overall gross margin. One of the factors, key factors to improve our gross margin as an overall India multi-channel and even in Middle East market Mr. Gautam Sharma And Videesha, the growth in our home brands historically has always been disproportionate to the growth in the India multi-channel business and that will continue to happen. This is what we believe. Ms. Videesha Shah Sure, sure. Thanks for that. And the second question was if you could just talk about how is the response for the older age segment of 6 to 12 years or 8 to 12 years and how many stores are you looking to open that? Mr. Supam Maheshwari So we have a very handful of stores. We have not opened any stores in 6 to 12 in the last, quarter or last couple of quarters. We have few handful of stores that we had opened, we are fine-tuning our merchandise from a n offline perspective and but online, I think we are doing fairly well that assortment has turned out quite nice as we've expanded our assortment. And the cohort of the customers actually is quite nicely compounding there from as we progress from six years to seventh year and eighth year and ninth year as this this tail will get forme d over a longer period of time, because as customers move from six years of seven, seven to eight, eight to nine. So this funnel will be complete in another couple of years when there'll be a fully loaded pregnant sort of a base of customers who would have transacted from six to twelve . So this is a work in progress, but it has turned out quite well. We're quite happy with the progress of Pine kids which is our home brand and several other third party brands that we sell to our brand partners. We're doing quite well on 6 to 12. Ms. Videesha Shah Got it. So net, net growth for this age cohort would be led by the online channel. Mr. Supam Maheshwari Yes. Yes. Of course. Absolutely. Ms. Videesha Shah Thank you. Thank you. I'll get back in the queue. All the best. Mr. Anish Arora Thank you, Videesha. Next question is from Mr. Sudhir. Mr. Sudhir Hey, Hi Supam. Hi, Gautam. This is Sudhir from Kota k Mahindra AMC. Thanks for the opportunity and congrats on decent set of numbers. So first question, you mentioned the 38 COCO store shut down. So, I mean, while you said that the customer wallet share expectations are not being met. Can you elaborate what has led to this? Is it these 38 stores a re more impacted by, let's say c ompetition from quick commerce place or the unorganiz ed players are being more aggressive in those micro markets. And if you can give some color on where are these 38 stores, are they in the top cities or tier two, tier three towns? Some color and slicing and dicing of that data will help. Mr. Supam Maheshwari Sure. So Sudhir, I appreciate your question. So first of all, we have our internal benchmark. I would out -rightly clarify that for our offline stores , quick commerce is not a right comparison. I mean we have a very different assortment. And these are largely set of Babyh ug stores out of the 38 stores that we are talking about. And the reason are, multiple fold. The footfalls get impacted, sometimes also by the impact of a lot of construction activity happening in the country, w hich goes on for two three years in terms of the, sort of the metros that are getting constructed and which impacts the footfall . And at the same time sometimes while we get the data from online that this is the pin code that is the most suited in terms of opening up a store and that's how the science that we have built in terms of opening a store , but at the same time, a pin code in India is actually quite wide in terms of the physical territory of a particular town or a city. And the availability of the right catchment sometimes becomes also a challenge and within that constraint the size of the store as well. So some of these things has led to a suboptimal outcome in terms of the footfall expectations that we had from the store. From our online data source that told us like in t his particular pin code you can open comfortably a store and usually you know , I would say 95 percent of the time you will be bang on. But for these particular 38 stores, we felt that we had a suboptimal outcome in terms of both footfall as well as the wallet share of the customer that we expect both from an online offline perspective, the offline customers going online or an online customer going off line, had not resulted into an enhanced sort of a wallet share and leading us to believe that we should nail this . So this is not a representative that we will, as I mentioned earlier, that we will come out of those cities or those towns. That's not what w e are saying. It is just maybe, we don't want to call it replace, relocation and all of that, but we will ultimately find a new or fresh location. We are not exiting any particular territory or location or the city , not at all. And this is not one territory or one regio n, one south, north, west, east or one city or one town where we have exited all of this. So this is not an impact of any local store, this is not like one phenomenon . This is just an internal benchmark that we have had, which has resulted in for us to take this decision. And going forward, I can just sort of share that this is not like, we will, we hope that our churn rate for a COCO store will be lower than our churn rate for FOFO store that we have demonstrated in the past for so many years. So we are very comfortable on that. It will only mean it will improve our customer experience, our expectation of footfall, our wallet share, leading to an optimum outcome on the profitability as well as top line. Mr. Sudhir Sure, Supam. So if I understand your response right, you are essentially saying the real estate suitability in a particular catchment or micro market is the bigger reason than any competition or sort of angle. Mr. Supam Maheshwari Absolutely. Fair enough and in the overseas business, right, you mentioned about the two horizontal players impacting in this quarter. So what is our strategy of defense here? Assuming because they are newly entered horizontals, might be private equity funded, don't care about profitability, have a lot of cash to burn, while we have to be defensive on the profitability front also in line with your stated objective. So how do you ensure that you don't lose big market share to these horizontals? At least in the next one, two, three quarters. Mr. Supam Maheshwari No, very relevant question, Sud hir. Look, it is a balance of growth and our laser focus on our improvement on profitability to reduce the burn. So we will try and balance out through the moats that we have built . Specifically moats on enhancing quality of the customers that we acquire, quality of our home brands that we are delivering out and expansion of those home brands as quickly as, we can get out there to the consumers proliferating that and improving the network effect of that to all our audiences, both in the UAE and the KSA. And overall improving our merchandising a nd our tech platform, operational leverage in terms of personalization. So I think some of these things will enable us to deliver a superior sort of a performance , from a discerning customer view and we believe both UAE and KSA have as discerning customers as in India. And while we have been able to battle it out i n our initial journey of maybe five, seven years back when we had a lot of these horizontal s in 2013 to 2016 in I ndia. And like we will be able to battle it out, in a very balanced approach of sort of a burn prudence , while balancing the growth and the market share. But it's yet to play out. We'll be very focus ed, balance, monitor situation on a day -to-day basis. It will play out as it will play out. You know mostly most horizontal players are decently funded, decent backgrounds with a lot of capital but I think over a period of time, they all have their way of showing performance to their sort of investors or shareholders as well. So this will all balance out. Maybe we'll have some rough ride for maybe a few quarters is what probably, it might mean. But again, as I said, we will ride it out in a very , I would sa y, prudent way as we have done in the past.

Fair enough, sir. That would be from me. All the very best. Mr. Supam Maheshwari Thank you, Sudhir Mr. Anish Arora Thank you, Sudhir. Next question is from PS Rohit. Mr. PS Rohit Hi Gautam and Supam. Good evening. This is Rohit from Claypond Capital. So my first question is that I noticed that the GMV, both the GMV and the order growth for nine mo nths year on year has been 17%, w hich could indicate that the order values are sort of s tagnant. Any levers that could be at play there to improve them in the future? Mr. Supam Maheshwari So Rohit, we believe that there were a couple of reasons why this happened. Our expectation on Q3 internally was slightly higher than what we delivered. A nd we could have done better, as I said there are a couple of reasons. One reason being, we had, of course, the festive environment had, which is a Q2 and Q3 is a balanced way that you should see . But more importantly, winter was delayed in the country. Usually, in mother's baby and kids, because of the size issue every child or every family , literally has to change their winter garments every year because I mean, your children will out- grow and you have to buy , which had a delayed impact of winter. Order frequency could have been slightly better. Even AOVs could have been slightly better, which could have led to a higher growth in the Q3, which could have meant that nine months growth could have been slightly sort of a better . So that's how we believe and even also the COCO stores closure also had a minor impact, as well. So, if all of these reasons had played out positively, which is just in this particular quarter. I don’t think it is a natural phenomenon. We believe over a longer period of our journey, o ur moats remain absolutely strong. Our AUTC growth is absolutely strong, which we have been growing only 12% FY24 to 14%, 16% and 17% in Q1, Q2 and now Q3. So which will result into a superior growth and it should reflect in the coming quarters or in the quarters of the subsequent year. And as we've taken some corrective actions in the COCO as well. So all of this will mean, our core business India multi -channel should continue to deliver a strong outcome. So you should be able to see some of these numbers subsequently, over a longer period of time, here and there, one or two quarters does happen because some of these things like winter is not in our control and this cleanup exercise was just one time. I hope, Rohit, that gives you comfort. Mr. PS Rohit Yeah. Yeah, yeah, it does. Just one more follow -up question. You know, we've seen that, the GM for this particular quarter has sort of gone down slightly. And while that's over Q2, while that's a phe nomenon that typically happens, o ver the previous years as well, where Q3 GMs are slightly lower than Q2. Would that mean that you would see like a meaningful jump going into Q4 where you know some of that is uh some of the prior quarters reversed and then some added. Mr. Supam Maheshwari So Rohit, you should not see actually quarter on quarter GMs. You should see GMs year on year only. Because there are certain seasonality in our business. So like Q2 and Q3 typically because of this Diwali, Dussehra and Durga Puja, festivities a lot of , there is a fashion sale and fashion gives us a slightly higher gross margin than other categories and therefore some of these, so quarter on quarter, you should not really see that you should see a year on year basis . If you look at our year - on-year gross margin, we have improved by 250 bps, from the last year at a consol. level. Obviously, India multi- channel, which is our core business , has to deliver a very meaningful , steep higher number to be able to deliver 250 bps increase at a consol. level.

So trend remains more or less same between the ma rgin differences in Q2 versus Q3, for both the years. And we'll continue with the gross margin increase in the coming years. Mr. PS Rohit Got it. Got it. Thank you , Gautam and Supam . This is really helpful. And All the best. Mr. Supam Maheshwari Thank you Mr. Anish Arora Thank you, Rohit. Next question is from Raj Mr. Raj Vyas Yeah, Hi. Thanks for the opportunity. I'm Raj Vyas from TM Investment Technologies Private Limited. So, I have question regarding like, how do you plan to sustain and further accelerate the profitability like as we can see the losses have narrowed down . So how do you plan to improve the profitability going ahead for, a consolidated business and the India multi -channel segme nt in the upcoming quarters, especially in the terms of cost efficiency, revenue generation and market expansion? Mr. Supam Maheshwari So Raj, if you will see our first slide of the presentation, first, second, third slide of our presentation, you'll see we have been able to report the best quarter or a best performance both in terms of Adjusted EBITDA performance , at a consol. level, which has gone to 6.2% and also at India multi-channel, which has gone to 11.2 %, which is in the last four years, the best ever. And year on year basis as well, it has continued to increase. We believe, as we've been saying it. And Gautam mentioned that if you just see our business in four segments. India multi-channel business hasn't reached to a steady state across different parts of our, if you look at our business from a gross margin perspective , operating efficiency, marketing efficiency, our operating leverage, all of these levers will continue to deliver as outcome to you know optimize and increase our adjusted EBITDA, for India multi- channel meaningfully, going forward in many quarters and years to come. Our international business obviously has to become profitable as we are improving and reducing our negative EBITDA. And there's a journey there as well, which will overall impact our consol. performance, bottom line performance . And Globalbees is a very young business and less than a three and a half year sort of a track record right from inception. The company has delivered quite a meaningful performance both on the top line and bottom line. And as I said, it's a young business. So there is a lot more to happen in terms of the steady state, both our top line growth as well as the adjusted EBITDA. And preschool business is still very young a gain, it's an asset light model, although at a 22% adjusted EBITDA but if you look at our first three businesses, all of them will improve. On a longe r period, you should be able to see you know improvement across all our businesses , therefore leading to more superior outcome across different metrics that you would want to see a nd resulting into more capital efficiency, marketing efficiency, operating leve rage, gross margin improvement, which will remain in the business for a longer period of time. So those are not like one time , sort of performance indicator which will vanish. So we feel very confident about that. Mr. Gautam Sharma In fact, while th is is our third earnings call after listing. We have published the segment wise numbers from FY22, in our prospectus if you see . And you will see that , we have improved our margin performance in all the four business segments year on year. FY 23 is better than FY 22, FY24 is better than FY 23, a nd so is 9MFY25. So you will see a continuous improvement, both in gross margins as well as the EBITDA performance. And we believe t hat it should continue to happen going forward. Mr. Raj Vyas So, any ball park number that we are looking for in terms of revenue or margins or profitability , because some bit of any like that we can put a number in our minds as well while going forward. Mr. Supam Maheshwari We really admire companies like Page Industries. That's something that we believe that is a very admirable company from a management perspective , to aim, aspire to be at the bottom line level. Mr. Raj Vyas And any sort of challenges to make FirstCry as Page industries, any sort of challenges that you will be looking and how can you overcome those challenges? Mr. Supam Maheshwari Just focused execution, not much strategy work is required . More of very , I would say , detailed execution, on a focused execution by the entire FirstCry team and Globalbees team together. All of us have to really continue to be at it to be able to deliver, there are I mean, and obviously , there are certain factors that are not in our control like winter, some of these factors that come into play or general sort of narrative around this slow down and all of that, although we don't believe that as much there is a little bit of a, so many factors are there which macros will make difference . But we believe we have enough internal moats to continue to focus , t o be able to deliver the superior performance. But yes, we got to be lucky as we go along in some of the external environment situations. And we always have believed that a s long as you are in the game and you a re doing your best and you are delivering the best in the industry , luck will be your side as well, while external when facing external situations and thereby reaching to your goalpost, as I just mentioned. Mr. Anish Arora Thank you. Next question is from Mr. Chintan. Please note that this will be the last question. Mr. Chintan Hi, Supam and Gautam. This is Chintan here from JM Financial Family Office. So I had two questions. So one is on growth. So if you look at on a nine month basis, you've delivered a growth of around say 17% YoY . So my question is, there is this organized growth and the key thesis for us has been the shift from unorganized to organized for a player like us. So I wanted to understand slightly from a longer term perspective, this number of 17%, does it indicate that the shift we expect to happen from unorganized to organized in not happening and if that’s the case can you highlight what could be a few reasons for it to play out. Is it just price points or it just customer behavior that is my first question. And second one I would say is more so from an online platform perspective. If you could help us with few variables like the repeat purchase , in terms of customers how many repeat purchases happening if you give through some t hat number that would be helpful to gauge the performance . Those were my two questions. Mr. Supam Maheshwari I think the first question answer is actually very simple, Chintan. If you look at our industry report, which was part of the RHP, the unorganized industry is roughly close to 84%. At the time of listing that we had, the industry report had mentioned and the overall industry is going between 13 to 14%. So we are and this is also you must remember, this is a CAGR for next four to five years. There can always be certain sort of a blips in between. So this 13 to 14% is the industry growth as stated in the industry report by Reds eer. And we have been compounding at a far higher clip than that and our internal obviously aim is slightly hig her than even what we have. But it just I mean, we have gone through the reasons so I won’t sort of go through them again. But relatively speaking, we are obviously converting unorganized to organized and as India, as I would quote, our finance minister has said over the next four to five years as our per capita income will double up over a period of next few years. So growth of the unorganized to organized has to happen and being the largest sort of a multi-channel, multi-category mothers baby and kids p layer. W e believe that we will be the biggest beneficiary in that journey. So I think that's how I would put it . So far we have been tracking nicely. Whether it'll compound faster, slower, I would say, we have seen the environment around us , in that which is where we are, but it is compounding far better than the industry growth which i s also a little longer horizon, y ou can't say 13, 14% every quarter industry report. This is over a four or five year. That's exactly what will happen to us as well that our CAGR might be slightly superior. And over a longer, if you look at our four years CAGR , past and going forward, it definitely can be different than what you have just known for the nine months which is just 17, 18%. So that's the answer to your sort of first question. Mr. Chintan Supam, if I may, just one follow up on this. So the message that I'm getting from this is clearly two points. One is we don't see any factors in terms of price point and customer behavior that is stopping the shift from unorganized to organized, that is one . And secondly, the growth that we are looking at is much higher than the 17% that we have delivered in the nine months. Is that the right understanding? Mr. Supam Maheshwari And so the Q3 was impacted , I would say, for us, because of the delayed winter, we've gone through the reasons and you should see your business in Q2 and Q3. I would not try to say that you should benchmark like , a very steep grow th curve from where do we stand. You should see in the backdrop of the overall industry, retail industry as well. While there will be a conversion from unorganized to organized without doubt. And that's happening in the market, and being a very large online domination in our multi-category approach, as you can see, it's almost 78% of our multi-channel business. The online is 70 sort of, it's a significant part and there if you will see as well, our AUTC growth has been stronger. So you will be able to see a superior sort of a performance, as we sort of go along, but industry is 13, 14 % . We are compounding at a much higher clip, gives us the confidence that we are doing the right things. Yes, we as management, we remain hungry , we remain unhappy, we want to deliver more, but we don't want to promise more, so we will deliver more is how I would sort of put it. Mr. Gautam Sharma And being the largest demand aggregator in terms of the largest platform, retail destination in India and being the largest supply aggregator which is Babyh ug is the largest home bran d in India. And I think, both these factors put together should give anyone a sufficient comfort that we'll continue to grow better than the industry growth. Mr. Supam Maheshwari Our long-term moats are absolutely intact and compounding all the key moats that we have built in the business, they're all compounding and generating a strong defensibility , strong foundation for our future growth. I think you should be able to see it over a period of next couple of years. Mr. Anish Arora Thank you. That was the last question. I hand it over back to Supam and Gautam for any closing remarks. Mr. Supam Maheshwari I would like to thank you , everyone for all of you taking time out on a Saturday. And we r eally appreciate and looking forward to seeing you in our n ext quarter which will be a completion of the annual fiscal year. Thank you once again. Mr. Gautam Sharma Thank you so much, everyone.

Thank you.