@Parko5 @cbirtles that's correct. I recall $25m allowed for the new facility in the capital raise. Design should be completed by end FY24, so we'll see the final cost (be prepared for a potential uplift, as the initial estimate was getting on for 2 years ago.) maybe in the FY in September.

The new facility is designed to see them through to total annual sales of $500m (that's 5x FY24!). That's how capital light this business is.

When it comes onstream in FY26 we'll see %GM tick down a little, but not much by my reckoning. Yes there is still capacity available in the current lines, but I think at the rate they are growing they are going to need the new plant not too far down the track. That said, in the last call, Swami spoke about the productivty improvements they are getting out of the existing process. So it does look like he's been paying attention to it. I am a bit concerned about concentartion risk in their current operation. But 50-60% sales growth quickly eats up spare capacity....so I wonder in the Operations Manager is sleeping well at night. (I did that role decades ago, and having a hypergrowth product and new capacity on the drawing board is not a comfortable place to be. Getting plants going in that industry is not always easy.)

Great thanks for resolving that for me