We made healthy progress to start the year with increasing contributions from CDMO business and continued advancement of pipeline projects, supported by Generic FDF. We are moving ahead with strong focus on commercial execution realizing the full potential from promising pipeline opportunities, business development and rapidly enhancing scale and technology capabilities. We also commenced construction of various facilities across CDMO, Generics and FDF. Once complete, these facilities will fortify our ongoing commitment of being a high-quality development and manufacturing partner at scale including advanced therapies. We remain confident in our strategic direction and commitment as the source of sustainable value creation now and well into the future.

We delivered a solid performance in Q1, in line with expectations. We are pleased to see sustained growth momentum fueled by increasing uptake in CDMO deliveries and healthy business fundamentals. We have achieved revenues of ₹ 1,570 Cr, representing 31% growth and EBITDA of ₹ 389 Cr, representing 127% growth. The EBITDA margins improved substantially to 24.8%, supported by continuing operating leverage. Gross margins stood strong at 59.4% due to favorable CDMO mix and ongoing process improvement initiatives.