The year has been a defining one for Devyani International — a year in which we navigated a challenging operating environment while taking transformational steps that position the company strongly for the future. Our proposed merger with Sapphire Foods is a strategic combination of two scaled-up and complementary platforms, united by a shared vision for long-term growth. The merger is expected to unlock meaningful synergies, strengthen execution, and create a more agile and efficient organization capable of accelerating growth across markets. We have also taken steps to transform our management team under the leadership of Manish, our new CEO. Our focus is to bring in experienced and forward-looking professionals with deep operational and strategic expertise. As we prepare for the next phase of growth and integration, these capabilities will be critical in driving transformation across the organization. Technology, automation, and data-led decision making will remain central and critical to this journey. This will also play a key role in enhancing efficiency, scalability, and customer experience. While external and seasonal factors remain fluid, we are optimistic about demand conditions and believe the business is well positioned for stronger performance during the year. Our strategic priorities remain unchanged — disciplined expansion, stronger profitability, and deeper consumer relevance through innovation and digital engagement. Our view on India opportunity remains unchanged and the proposed merger further enhances our ability to execute these priorities on scale and reinforces our confidence in the long-term opportunity ahead. This has been a year of resilience, execution, and strategic progress.