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ASMS - Bartronics India

📊 NSE: ASMS 🏢 Computers - Software - Medium / Small 📅 Last Updated: 12/13/2025 19:09

📢 Recent Corporate Announcements

ASMS Partners with Agrosperity to Expand Digital Agri Ecosystem Across 5,000+ Villages

🟢 POSITIVE ⭐ 7/10

EXPANSION 📅 16 Mar 2026, 10:47 AM

Avio Smart Market Stack Limited (ASMS), formerly Bartronics India, has signed an MoU with Agrosperity Tech Solutions to scale its Project AVIO Agritech. The partnership will leverage ASMS's existing financial inclusion network that spans over 5,000 villages to provide digital credit, supply chain financing, and agronomy advisory services. By integrating Agrosperity’s KiVi platform, ASMS aims to transition into a unified rural operating system. This strategic move targets high-growth sectors including agri-tech, rural commerce, and climate-linked sustainability solutions.

MoU signed with Agrosperity Tech Solutions to integrate the KiVi 'phygital' platform into ASMS's ecosystem.
Leverages an established rural outreach network covering more than 5,000 villages across India.
Collaboration focuses on agricultural credit solutions, input procurement, and commodity supply chain financing.
Includes future initiatives for climate sustainability and carbon sequestration solutions in the agriculture sector.

💡 Investors should monitor the conversion of this MoU into active revenue streams from credit lead generation and supply chain fees. The company's ability to successfully monetize its 5,000-village network through these new digital services will be a critical driver for long-term valuation.

ASMS (Bartronics) Acquires 2.11% Stake in Huwel Lifesciences for ₹7.5 Crore

🟢 POSITIVE ⭐ 7/10

M&A 📅 11 Mar 2026, 04:15 PM

Avio Smart Market Stack Limited (formerly Bartronics India) has completed a strategic equity investment of ₹7.50 crore in Huwel Lifesciences Private Limited. The company acquired 9,665 equity shares at ₹7,760 per share, representing a 2.11% stake in the molecular diagnostics firm. Huwel Lifesciences has shown volatile but growing revenue, reaching ₹15.74 crore in FY25. This transaction marks the first tranche of an investment plan aimed at deriving operational and financial synergies in the healthcare sector.

Acquired 2.11% stake in Huwel Lifesciences for a total consideration of ₹7,50,00,400
Purchase price of ₹7,760 per share includes a significant premium of ₹7,750 per share
Target company turnover increased from ₹4.94 crore in FY24 to ₹15.74 crore in FY25
Investment is structured in tranches, with the first tranche now completed
Huwel Lifesciences specializes in molecular diagnostic kits and in-vitro diagnostic solutions

💡 Investors should watch for the completion of subsequent tranches and further details on how ASMS plans to leverage this minority stake for operational synergies. The recovery in the target's turnover is a positive sign for the valuation.

ASMS Expands Agri-Tech Ecosystem via Strategic MoUs Targeting 20 Million Farmers

🟢 POSITIVE ⭐ 7/10

EXPANSION 📅 11 Mar 2026, 10:52 AM

Avio Smart Market Stack Limited (formerly Bartronics India) has announced multiple strategic collaborations to expand its 'Project AVIO Agritech' ecosystem. The company plans to leverage its existing network of 5,000 banking correspondents and 40 million rural citizens to reach 20 million farmers across 5,000 villages. Partnerships with specialized firms like Kosher Climate and CarbonMint will focus on carbon credits, solar irrigation, and digital farm advisory. The initial rollout is scheduled for Maharashtra and Uttar Pradesh over the next 6 to 12 months.

Leveraging existing network of 5,000+ banking correspondents across 10 Indian states
Targeting engagement with 20 million farmers across 5,000+ villages for agri-tech services
Signed MoUs with 4 specialized partners including Kosher Climate and Enrich Power for carbon and energy solutions
Initial project implementation focused on Maharashtra and Uttar Pradesh within a 6-12 month timeline
Aims to monetize sustainable farming through carbon credits and digital advisory services

💡 Investors should monitor the conversion of these MoUs into tangible revenue streams, particularly from carbon credit monetization and agri-services. The successful execution of this rural 'operating system' model could significantly diversify the company's income beyond traditional financial inclusion services.

Bartronics (ASMS) Acquires 25.75% Stake in Shree Naganarasimha for INR 1 Crore

🟢 POSITIVE ⭐ 7/10

M&A 📅 10 Mar 2026, 05:02 PM

Avio Smart Market Stack Limited (formerly Bartronics India Limited) has completed an equity investment of INR 1 crore in Shree Naganarasimha Private Limited (SNN). This acquisition grants ASMS a 25.75% stake in the target company, which specializes in agro and food product manufacturing. SNN has demonstrated rapid growth, with its turnover increasing from INR 1.39 crore in FY23 to INR 11.48 crore in FY25. The investment is aimed at deriving operational and financial synergies through diversification into the food processing sector.

Acquired 25.75% equity stake in Shree Naganarasimha Private Limited for INR 1 crore.
Target company turnover grew significantly from INR 4.94 crore in FY24 to INR 11.48 crore in FY25.
Acquisition price set at INR 2,882 per share, including a premium of INR 2,872 per share.
The transaction is at arm's length and marks the completion of the first tranche of the investment.
Target entity operates in the high-growth agro-food processing and trading industry.

💡 Investors should view this as a positive diversification move into a high-growth sector, though they should monitor the impact of this investment on the company's consolidated bottom line. Watch for the completion of subsequent tranches as per the shareholders' agreement.

ASMS Acquires 25.75% Stake in Shree Naganarasimha Private Ltd for ₹1 Crore

🟢 POSITIVE ⭐ 7/10

M&A 📅 10 Mar 2026, 04:59 PM

Avio Smart Market Stack Limited (formerly Bartronics India) has acquired a 25.75% equity stake in Shree Naganarasimha Private Limited (SNN) for a total consideration of ₹1 crore. The acquisition involves 3,469 equity shares priced at ₹2,882 each, including a significant premium. SNN is a fast-growing entity in the agro and food products sector, reporting a turnover of ₹11.48 crore in FY25, up from just ₹1.39 crore in FY23. This strategic investment is intended to drive operational and financial synergies for ASMS.

Acquired 25.75% stake in Shree Naganarasimha Private Limited for ₹1,00,00,000 in cash.
Target company SNN operates in the manufacturing and trading of agro and food products.
SNN turnover grew significantly from ₹1.39 crore in FY23 to ₹11.48 crore in FY25.
Acquisition price of ₹2,882 per share includes an equity premium of ₹2,872 per share.
The transaction is conducted at arm's length with no promoter interest in the target entity.

💡 Investors should view this as a positive diversification move into the high-growth agro-processing sector. Monitor the company's future tranches of investment and how SNN's rapid revenue growth contributes to ASMS's consolidated bottom line.

ASMS Partners with Huwel Lifesciences for ₹1,000 Cr TB Diagnostics Market Opportunity

🟢 POSITIVE ⭐ 8/10

EXPANSION 📅 02 Mar 2026, 11:25 AM

Avio Smart Market Stack (formerly Bartronics) has signed a Shareholders Agreement to acquire a minority stake in Huwel Lifesciences, targeting India's ₹1,000 crore annual molecular TB diagnostics market. The partnership focuses on the Quantiplus MTB FAST platform, which offers testing at ₹340 per sample, significantly lower than the current ₹700-₹1,000 range. ASMS will receive a defined share of net project revenues from orders secured through its business development efforts. This strategic move leverages existing national RT-PCR infrastructure for rapid, low-cost deployment in public health.

Acquisition of minority stake in Huwel Lifesciences to address a ₹1,000 crore annual market opportunity
Huwel’s diagnostic platform reduces TB testing costs to ₹340 per sample from the current ₹700-₹1,000
ASMS is contractually entitled to a share of net project revenues from institutional engagements
Compatibility with existing RT-PCR machines allows for nationwide deployment without major capital expenditure
Targeting the National TB Elimination Programme which conducts approximately 1 crore tests annually

💡 Investors should watch for the formalization of government procurement contracts, as the significant cost advantage and infrastructure compatibility provide a strong competitive edge. This marks a high-potential pivot into health-tech that could diversify and scale the company's revenue streams.

ASMS to Invest ₹15 Crore for 4.25% Stake in Huwel Lifesciences

🟢 POSITIVE ⭐ 7/10

M&A 📅 27 Feb 2026, 03:35 PM

Avio Smart Market Stack Limited (ASMS) has approved a ₹15 crore investment in Huwel Lifesciences Private Limited to acquire a 4.25% equity stake. The investment will be deployed in two equal tranches of ₹7.5 crore each at a share price of ₹7,760. A key highlight of the deal is a strategic collaboration where ASMS will receive 40% of the Net Project Revenue from projects it facilitates or supports. This move indicates a strategic push into the lifesciences sector with a significant revenue-sharing component.

Total investment of ₹15,00,00,000 to be infused in two tranches of ₹7.5 crore each
Acquisition of 4.25% equity stake in Huwel Lifesciences Private Limited on a fully diluted basis
Entitlement to 40% of Net Project Revenue from projects facilitated or supported by ASMS
Issuance of 19,930 equity shares at a price of ₹7,760 per share
Strategic collaboration for joint identification, development, and execution of projects

💡 Investors should monitor the progress of the revenue-sharing projects as the 40% net revenue share could be more impactful than the minority equity stake. Watch for future disclosures regarding the specific types of projects being facilitated under this collaboration.

Bartronics India Limited Rebrands as Avio Smart Market Stack Limited

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 23 Feb 2026, 03:36 PM

Bartronics India Limited has officially changed its corporate name to Avio Smart Market Stack Limited effective February 23, 2026. The change was approved by the Registrar of Companies (MCA) following initial intimations in December 2025 and January 2026. A fresh Certificate of Incorporation has been issued, and the company's Memorandum and Articles of Association have been updated to reflect the new identity. The company's NSE symbol is ASMS and the BSE scrip code is 532694.

Official name change to Avio Smart Market Stack Limited effective from February 23, 2026.
Approval received from the Registrar of Companies, Ministry of Corporate Affairs (MCA).
Company's NSE symbol is ASMS and BSE scrip code remains 532694.
The rebranding does not affect the existing rights or liabilities of stakeholders.
Company is required to display its old name alongside the new name for a period of two years.

💡 Investors should note the name change for tracking purposes; however, as this is an administrative rebranding, it does not impact the company's fundamental value or operations.

Bartronics India Secures INR 20 Crore Unsecured Loan from Promoter Kinex India

🟢 POSITIVE ⭐ 7/10

FUNDRAISE 📅 19 Feb 2026, 05:07 PM

Bartronics India Limited (BIL) has entered into an inter-corporate loan agreement with its promoter, Kinex India Private Limited, for an amount up to INR 20 crores. The loan is unsecured and carries a competitive interest rate of 7.5% per annum, with a repayment period of 12 months. This funding is intended to support the company's business operations and strategic investments in the ordinary course of business. The transaction is classified as a related party transaction conducted at arm's length, reflecting promoter commitment to the company's growth.

Unsecured inter-corporate loan facility of up to INR 20 crores to be drawn in multiple tranches
Interest rate set at 7.5% per annum with a repayment tenure of 12 months
Lender Kinex India Private Limited is the promoter, holding a 69.37% stake in the company
Funds earmarked for supporting business operations and ordinary course investments

💡 This move indicates strong promoter backing and provides the company with necessary liquidity at a reasonable cost. Investors should monitor the company's operational progress and how effectively this capital is deployed to enhance business value.

Bartronics Signs Shareholders Agreement with AYOU to Roll Out AI-Led Warehousing

🟢 POSITIVE ⭐ 8/10

EXPANSION 📅 17 Feb 2026, 10:44 AM

Bartronics India Limited has executed a definitive Shareholders Agreement with Shree NagaNarasimha Pvt. Ltd. (AYOU) to integrate AI technology into its agricultural supply chain under Project AVIO Agritech. The partnership will transform warehouses in Uttar Pradesh and Maharashtra into smart hubs featuring computer vision-based grading and predictive analytics. AYOU already serves major quick commerce and retail players including Swiggy Instamart, Zepto, BigBasket, Blinkit, and Trent. This strategic move aims to enhance supply precision and reduce wastage while leveraging Bartronics' existing rural footprint.

Signed definitive Shareholders Agreement with AYOU to deploy AI-led warehousing technology.
AYOU currently supplies to leading quick commerce platforms like Swiggy Instamart, Zepto, and BigBasket.
Focuses on the potato belt of Uttar Pradesh and the onion belt of Maharashtra for smart hub conversion.
Technology stack includes computer vision-based grading, digital quality benchmarking, and predictive inventory analytics.
Transaction completion is expected within the coming weeks following fund transfers and closing formalities.

💡 Investors should monitor the execution of the warehouse upgrades and the subsequent impact on revenue growth from the high-demand quick commerce segment. The integration of AI into the agri-supply chain could significantly improve margins through reduced wastage and better price realization.

Bartronics India Signs MoU with Raphael Global Tech for Agri-Tech and Carbon Projects

🟢 POSITIVE ⭐ 6/10

EXPANSION 📅 10 Feb 2026, 09:28 PM

Bartronics India Limited has entered into a Memorandum of Understanding (MoU) with Raphael Global Tech Private Limited to collaborate on agriculture and climate action initiatives. The partnership aims to combine Bartronics' rural network and digital infrastructure with Raphael's expertise in drone technology, geospatial intelligence, and carbon measurement. This strategic move targets high-growth sectors like agroforestry, mangroves, and carbon credit projects. While the MoU is preliminary, it signals the company's intent to diversify into technology-driven sustainability solutions.

Collaboration with Raphael Global Tech for drone technology and geospatial intelligence solutions.
Focus on agriculture, agroforestry, climate action, and carbon project development.
Utilization of Bartronics' existing rural network for grass-roots level project implementation.
No shareholding or related party transaction involved in the agreement.
Aims to leverage data analytics for carbon measurement and environmental monitoring.

💡 Investors should watch for the conversion of this MoU into definitive contracts and revenue-generating projects in the carbon credit space. The entry into ESG-focused tech could provide long-term valuation support if execution is successful.

Bartronics India Shareholders Approve ₹250 Cr Borrowing Limit and Name Change

🟢 POSITIVE ⭐ 7/10

FUNDRAISE 📅 10 Feb 2026, 01:05 PM

Bartronics India Limited (ASMS) has received shareholder approval for several strategic resolutions via postal ballot, including a significant increase in borrowing limits up to ₹250 crores. The company also secured the mandate to change its name and alter its Memorandum and Articles of Association, signaling a potential rebranding or shift in business focus. Additionally, a material related party transaction with Kinex India Private Limited was approved, alongside a reclassification of the authorized share capital. These approvals provide the management with the necessary financial and legal flexibility to pursue expansion or restructuring initiatives.

Approved a new borrowing limit of up to ₹250 crores under Section 180(1)(c) of the Companies Act.
Authorized the creation of mortgage or charge on company assets to secure future borrowings.
Passed a special resolution for the change of the company's name and consequent MOA/AOA amendments.
Approved material related party transactions with Kinex India Private Limited with 99.92% majority of non-promoter votes.
Sanctioned the reclassification of authorized share capital and amendment to the capital clause.

💡 Investors should monitor the company's upcoming announcements regarding the utilization of the ₹250 crore borrowing limit and the specific details of the name change. These moves suggest a phase of capital expansion or strategic pivot that could impact long-term valuation.

Bartronics Q3 FY26 Net Profit Surges to ₹2.45 Cr; Revenue Up 290% QoQ

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 10 Feb 2026, 01:03 PM

Bartronics India reported a significant turnaround in Q3 FY26, with revenue from operations jumping to ₹48.34 crore compared to ₹12.40 crore in the previous quarter. The company posted a net profit of ₹2.45 crore, a substantial increase from ₹1.00 crore in Q2 FY26 and a recovery from a loss of ₹0.33 crore in the same quarter last year. Total income for the nine-month period ended December 2025 reached ₹70.07 crore, showing strong momentum. Management is currently regularizing compliances related to non-functional foreign subsidiaries following a successful resolution plan implementation.

Revenue from operations grew by 290% QoQ to ₹4,834.04 Lakhs from ₹1,239.67 Lakhs.
Net Profit increased by 143% QoQ to ₹244.50 Lakhs compared to ₹100.43 Lakhs in Q2 FY26.
Turned profitable on a YoY basis, recovering from a loss of ₹32.50 Lakhs in Q3 FY25.
Earnings Per Share (EPS) improved to ₹0.08 for the quarter from ₹0.03 in the preceding quarter.
Operating expenses rose significantly to ₹4,337.09 Lakhs, reflecting scaled-up business operations.

💡 The sharp sequential growth in both top-line and bottom-line suggests the company is gaining traction post-restructuring. Investors should monitor if this revenue growth is sustainable and watch for the final resolution of legacy regulatory filings regarding foreign subsidiaries.

Bartronics Appoints Dr. Raja Krishna Murthy to Lead Agri-Tech and Carbon Growth Initiatives

🟢 POSITIVE ⭐ 7/10

MANAGEMENT 📅 09 Feb 2026, 08:23 AM

Bartronics India has appointed Dr. Raja Krishna Murthy, a veteran with over 21 years of experience, to lead its Project Avio Agritech vertical. This strategic move aims to monetize the company's existing network of 40 million farmers across 5,000 villages by expanding into agri-commerce and carbon markets. Dr. Raja brings significant expertise from global institutions like the World Bank and has managed programs impacting over 1 million farmers globally. The initiative focuses on creating scalable revenue streams through high-integrity carbon solutions and climate-tech growth.

Dr. Raja Krishna Murthy appointed as Head of Agri Tech Business with 21+ years of agribusiness experience.
Project Avio Agritech targets the company's existing reach of 40 million farmers in 5,000 villages.
Dr. Raja has previously led initiatives impacting over 2.8 lakh farmers directly and 1 million globally.
Focus areas include carbon aggregation, methane reduction projects, and digital advisory services.
The move aims to diversify revenue beyond financial inclusion into high-growth climate-tech and agri-commerce.

💡 Investors should monitor the execution of Project Avio Agritech as it represents a high-margin diversification from traditional financial inclusion services. The successful rollout of carbon credit aggregation could be a significant long-term value driver for the stock.

Bartronics to Launch AI Voice-First Agri-Tech App; Targets 20 Million Farmers in 3 Years

🟢 POSITIVE ⭐ 7/10

EXPANSION 📅 06 Feb 2026, 11:15 AM

Bartronics India Limited is set to launch its AI-powered, voice-first multilingual agri-tech application in March 2026 under Project Avio Agritech. This follows successful pilots in Maharashtra and Uttar Pradesh with strategic partners like SNN and Origo Commodities. The company has set an ambitious target to onboard 20 million farmers over the next three years, leveraging its existing network of nearly 5,000 villages. The platform aims to create new revenue streams through eMandis, output marketplaces, and carbon credit programs.

Launch of AI-powered agri-tech app scheduled for March 2026 with support for 5 regional languages.
Targeting the onboarding of 20 million farmers over the next 3 years under Project Avio Agritech.
Successful pilot completion in Maharashtra and Uttar Pradesh demonstrated strong farmer engagement.
Strategic partnerships established with SNN and Origo Commodities for assured off-take linkages.
Platform designed to capture data for future participation in carbon credit and sustainability programs.

💡 Investors should monitor the platform's launch in March and the subsequent pace of farmer onboarding to validate the 20 million target. Success in this segment could significantly re-rate the stock by diversifying revenue into high-growth agri-tech and climate-fintech sectors.

View All ASMS Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

The Rural Fintech and Financial Inclusion segment drove Q2 FY26 revenue to INR 12.40 Cr, representing a 40% growth YoY. H1 FY26 revenue remained stable at INR 21.23 Cr compared to the previous year, indicating a significant acceleration in the second quarter.

Geographic Revenue Split

Not disclosed in available documents, though operations are heavily concentrated in rural India through 5,000 touchpoints and a planned nationwide expansion of Smart Agri Stores.

Profitability Margins

Net Profit Ratio improved to 4.29% from 2.75% (a 56% increase), largely aided by the profit on the sale of Property, Plant, and Equipment (PPE). Return on Equity (ROE) increased from 5.33% to 6.37%.

EBITDA Margin

Return on Capital Employed (ROCE) saw a massive turnaround to 6.46% from -0.21% in the previous period, a 3248% improvement driven by asset disposal and movement in bank balances.

Capital Expenditure

The company executed a Rights Issue of INR 49.90 Cr in 2024. Additionally, it invested INR 5.00 Cr in Ampivo Smart Technologies Private Limited and incorporated BIL Healthtech Private Limited with an authorized capital of INR 0.10 Cr.

Credit Rating & Borrowing

The Board has proposed a borrowing limit of INR 250 Cr under Section 180 of the Companies Act, 2013, to fund its strategic transformation into the Agri-Tech and Rural Commerce sectors.

⚙️ Operational Drivers

Raw Materials

Following the closure of its device manufacturing unit, the company's primary costs have shifted to technology infrastructure and service delivery; hardware-related raw materials like biometric sensors and RFID components now represent 0% of ongoing manufacturing costs as assets were disposed of.

Import Sources

Not disclosed in available documents following the pivot from manufacturing to a digital platform model.

Key Suppliers

Key operational partners include 7 major banks that provide the framework for the company's 5,000 Business Correspondent (BC) touchpoints.

Capacity Expansion

The company is expanding its outreach through Gram Panchayats and plans a nationwide rollout of 'Smart Agri Stores' under Project AVIO to build a physical-digital ecosystem for the rural economy.

Raw Material Costs

Not disclosed in available documents as the company has transitioned to a service-based fintech and agri-tech model.

Manufacturing Efficiency

The company has exited manufacturing, disposing of its old factory land and building at Raj Bollaram Village, Telangana, to focus on asset-light digital services.

Logistics & Distribution

Distribution is managed through a network of 5,000 touchpoints, with each Business Correspondent Agent (BCA) serving a Sub Service Area (SSA) of 2-3 villages.

📈 Strategic Growth

Expected Growth Rate

40%

Growth Strategy

Growth will be achieved through the 'Project AVIO' Unified Rural Platform, renaming the company to ASMS to reflect a focus on 'Market Stacks,' and expanding into Agri-Tech. The strategy includes hiring a national brand ambassador and scaling the Smart Agri Store network nationwide.

Products & Services

Financial inclusion services (PMJDY, APY, PMSBY, PMJJBY accounts), Rural Fintech transactions, Biometric and RFID-based enterprise solutions, and Agri-Tech platform services.

Brand Portfolio

Avio, Project AVIO, ASMS (Avio Smart Market Stack), BIL Healthtech.

New Products/Services

Launch of Project AVIO (Agri-Tech platform) and BIL Healthtech services, with a proposed investment in cryptocurrency to diversify the treasury.

Market Expansion

Expansion of the banking partner network (currently 7 banks) and the opening of a branch office in Singapore to facilitate international growth.

Strategic Alliances

Partnerships with 7 major banks for financial inclusion and a strategic investment in Ampivo Smart Technologies Private Limited (acquired 7,122 shares at a premium of INR 7,010 per share).

🌍 External Factors

Industry Trends

The industry is shifting toward integrated rural ecosystems combining fintech, agritech, and healthtech. ASMS is positioning itself as an 'omni-format digital and physical ecosystem' to capture this convergence.

Competitive Landscape

The company faces competition from other fintech service providers and agritech startups entering the rural commerce space.

Competitive Moat

The moat is built on a deep rural distribution network of 5,000 touchpoints and established trust with 7 banking partners, which is difficult for new entrants to replicate quickly due to the multi-tier management required.

Macro Economic Sensitivity

Highly sensitive to the rural economy and government financial inclusion mandates; H1 FY26 saw stable revenue despite a 27% increase in net profit.

Consumer Behavior

Increasing adoption of digital and AI technologies in rural agriculture and healthcare is driving the demand for the company's new Project AVIO platform.

Geopolitical Risks

Risks associated with operating in frontier markets and potential regulatory changes in the Singapore and Indian jurisdictions.

⚖️ Regulatory & Governance

Industry Regulations

Operations are governed by the Companies Act 2013, RBI guidelines for Business Correspondents, and Ministry of Corporate Affairs regulations for new subsidiary incorporations.

Legal Contingencies

The company is regularizing compliances related to non-functional foreign subsidiaries that were written off in Q1 FY24 following a change in management control post-NCLT resolution in March 2023.

⚠️ Risk Analysis

Key Uncertainties

The Board's approval to invest in cryptocurrency introduces high volatility risk to the company's balance sheet; regulatory changes in rural fintech could impact 100% of the core revenue stream.