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Here is our Q1 FY26 Report: https://t.co/Fr88VGzL3t Transformative quarter for the company! Some highlights: Strategic Shift: Focus on Profitable Growth The EV industry has entered a stable 20 percent annual growth phase. In sync with this, we shifted from aggressive expansion to a focus on profitable growth and operational stability. Q1 is the first reflection of this pivot. Q1 Performance Summary We delivered 68,192 vehicles in Q1. The auto business became EBITDA positive in June. Auto Gross Margin reached 25.6 percent, even with minimal PLI benefit. Our Gen 3 now accounts for 80 percent of our S1 sales, contributing to improved profitability and significantly reduced warranty claims. Operating Cost Reduction Program Lakshya Our Cost Reduction Program Lakshya reduced monthly auto operating expenses from ₹178 Cr to ₹105 Cr. Consolidated operating expenses are now approximately ₹150 crore. This will remain stable even if volumes double through FY26. Warranty Costs and Product Quality Improvement Warranty claims continue to decline significantly with each generation. Gen 3 faults are down 60 percent versus Gen 2; Gen 2 is 30 percent better than Gen 1. In-house engineering of motors and controllers has reduced failures by over 90 percent; further highlighting the strength of our vertical integrated strategy Software Monetisation Through MoveOS+ MoveOS+ was launched as a paid software offering in Q1. Adoption rose from 2 percent in Q4 to nearly 50 percent in Q1. This will continue to grow with the recent rollout of MoveOS 5 and MoveOS 6 in the following year. Product Expansion and Safety Technology The Roadster is now available in 200 stores and scaling up further. Customer response has been strong. Our in-house ABS system is under development and will be ready ahead of the January 2026 regulatory deadline, ensuring compliance and cost leadership. Battery Cell Manufacturing Progress and Independence from Rare Earth Magnets We begin production vehicle integration of our 4680 Bharat Cell this Navratri. Current installed capacity is 1.4 GWh; and we are on track to install the remaining capacity to get to 5GWh and scale consumption to 5 GWh through FY27. These cells offer 10 percent higher energy density and reduce supply chain dependency. Furthermore, we have been developing rare earth free motors, which will be coming into our products starting next quarter. FY26 Financial Outlook We are targeting 3.25 to 3.75 lakh vehicles and ₹4,200 to ₹4,700 Cr in revenue for FY26. Exit Gross Margin will be in the 35 to 40 percent range; auto EBITDA will exceed 5 percent.