diversifying business wherein we expect consumer durable (mainly RAC) proportion to reduce from ~69% in FY26 to ~47% in FY28E. In Q1, electronics division delivered healthy growth of 29% YoY, albeit below the ~40% FY27 guidance. Further, Amber has partnered with Oppo, Realme and Oneplus to manufacture their phones in India targeting ~8 mn phones in year 1 and ~16 mn phones in year 2. Also, Amber is investing ~4,300 crore towards bare PCB manufacturing, strengthening its backward integration. Besides, the growth in electronics shall be supported by the...