Other income to PBT was ~47% in FY26. The valuation multiple (P/E) based on core business earnings, i.e., excluding cash and tax-adjusted other income, stood at 48x on FY26 earnings. Revenue grew 1.4% YoY in FY26; however, EBITDA/PAT declined 12.6%/8.9% YoY due to weak summers and intense competitive activity.