In line with our previously communicated guidance, SGRL Limited’s performance for Q1FY26 reflected a moderation in growth. This outcome was primarily driven by the repricing of contracts within our CRAMS business, combined with the continuing headwinds in the European market and intensifying competition in the domestic markets. The contract repricing also impacted our profitability, leading to a moderation in EBITDA margins, which now represent a more normalised and sustainable level compared to the elevated margins observed in the prior year. Despite these near-term challenges, our conviction in the long-term prospects of our CRAMS vertical remains robust. We are actively engaged in multiple new projects with both established and marquee clients, strengthening our pipeline for future growth. To expedite execution, we are establishing a new pilot facility, slated for completion within this quarter, which will enhance our ability to bring innovative solutions to market more rapidly. Additionally, with improved project visibility, we have accelerated the construction schedule for Block 7. At our Dahej site, progress is proceeding as planned. Our focus in FY26 will remain on building the necessary infrastructure to support a significant scale-up, positioning SGRL for a leap forward in the coming years.