Kewal Kiran Clothing shareholders and shareholding pattern

NSE: KKCLBSE: 532732Textiles & ApparelsSmall Cap

Kewal Kiran Clothing Limited · Face value ₹10 · Listed Apr 2006

₹431.40₹11.15 (2.65%)BSE ₹431.15

Share price at the NSE close on 29 Oct 2026. Previous close ₹420.25.

29 Oct: open ₹419.05, high ₹435.00, low ₹414.15

52-week range of traded prices to 29 Oct 2026

₹399.90Low, 23 Oct 2026₹568.05High, 5 Aug 2026

Next results date: the board meets on 2 Nov 2026 to consider: financial results and dividend. The notice · Results calendar

Market cap: ₹2,659 Cr994th largest listed
P/E: 17.96
P/B: 2.83
Dividend yield: 0.93%
ROE: 16.8%
ROCE: 17.4%
Debt to equity: 0.04
Volume, NSE: 27,27934.1% delivered

Kewal Kiran Clothing's shareholding pattern for Sep 2026, filed on 17 Oct 2026, with every filing from Dec 2016: who owns its shares by group, its promoters by name and its public holders of 1% or more.

Who owns Kewal Kiran Clothing, filing by filing

Per cent of the company's shares.

Sep 2026 filing

Promoters74.29%
Foreign institutions2.44%
Indian institutions8.38%
GovernmentsNone
Individuals and others14.90%

Shareholding pattern, per cent, from Sep 2022

Promoters
Foreign institutions
Indian institutions
Governments
Individuals and others

Per cent	Dec 2016	Mar 2017	Jun 2017	Sep 2017	Dec 2017	Mar 2018	Jun 2018	Sep 2018	Dec 2018	Mar 2019	Jun 2019	Sep 2019	Dec 2019	Mar 2020	Jun 2020	Sep 2020	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
	74.21%	74.21%	74.21%	74.21%	74.21%	74.25%	74.25%	74.25%	74.25%	74.25%	74.25%	74.25%	74.25%	74.25%	74.25%	74.25%	74.25%	74.25%	74.25%	74.25%	74.25%	74.25%	74.25%	74.25%	74.25%	74.26%	74.26%	74.26%	74.26%	74.26%	74.26%	74.26%	74.26%	74.27%	74.27%	74.27%	74.27%	74.29%	74.29%	74.29%
Indian promoters	74.21%	74.21%	74.21%	74.21%	74.21%	74.25%	74.25%	74.25%	74.25%	74.25%	74.25%	74.25%	74.25%	74.25%	74.25%	74.25%	74.25%	74.25%	74.25%	74.25%	74.25%	74.25%	74.25%	74.25%	74.25%	74.26%	74.26%	74.26%	74.26%	74.26%	74.26%	74.26%	74.26%	74.27%	74.27%	74.27%	74.27%	74.29%	74.29%	74.29%
	25.79%	25.79%	25.79%	25.79%	25.79%	25.75%	25.75%	25.75%	25.75%	25.75%	25.75%	25.75%	25.75%	25.75%	25.75%	25.75%	25.75%	25.75%	25.75%	25.75%	25.75%	25.75%	25.75%	25.75%	25.75%	25.74%	25.74%	25.74%	25.74%	25.74%	25.74%	25.74%	25.74%	25.73%	25.73%	25.73%	25.73%	25.71%	25.71%	25.71%
	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	3.95%	3.48%	2.44%	2.61%	2.61%	2.53%	2.10%	2.80%	2.81%	2.05%	2.39%	2.62%	2.38%	2.33%	2.32%	2.37%	2.44%
Foreign portfolio investors, category I	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	0.00%	3.48%	2.38%	2.51%	2.48%	2.42%	2.05%	2.74%	2.74%	2.01%	2.35%	2.58%	2.36%	2.32%	2.31%	2.36%	2.41%
Foreign portfolio investors, category II	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	3.95%	0.00%	0.06%	0.11%	0.12%	0.11%	0.05%	0.06%	0.07%	0.04%	0.04%	0.04%	0.01%	0.01%	0.01%	0.01%	0.03%
	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	5.61%	5.77%	5.95%	6.54%	8.00%	8.62%	8.85%	6.91%	6.83%	7.21%	7.76%	8.50%	8.64%	8.83%	8.60%	8.85%	8.38%
Mutual funds	8.25%	8.71%	8.06%	8.78%	9.26%	9.35%	9.40%	9.41%	9.48%	11.91%	11.83%	11.79%	11.76%	11.69%	11.81%	11.84%	11.83%	11.77%	10.78%	9.76%	6.01%	6.01%	5.90%	5.35%	5.33%	5.28%	5.61%	6.71%	7.35%	7.51%	5.57%	5.70%	6.12%	6.73%	7.42%	7.70%	7.72%	7.40%	7.57%	7.21%
Insurance companies	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.08%	0.18%	0.18%	0.26%	0.25%	0.25%	0.25%	0.25%	0.22%	–	–	–	–	–
Alternative investment funds	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	0.00%	0.00%	0.00%	0.00%	0.25%	0.43%	0.67%	0.84%	1.10%	1.08%	1.08%	1.09%	0.88%	0.83%	0.78%	0.86%	0.95%	1.11%	1.20%	1.28%	1.17%
Non-bank lenders registered with RBI	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	–	–	–	–	–	–
	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%
Central government	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%
	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	16.20%	16.51%	17.35%	16.59%	15.14%	14.59%	14.80%	16.03%	16.11%	16.49%	15.58%	14.60%	14.71%	14.56%	14.80%	14.49%	14.90%
Resident individuals, up to ₹2 lakh at face value	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	8.61%	9.53%	10.09%	10.07%	9.71%	9.71%	9.89%	10.62%	10.82%	10.94%	10.44%	9.17%	9.31%	9.13%	8.71%	8.47%	8.28%
Resident individuals, over ₹2 lakh at face value	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	3.20%	2.79%	3.09%	2.69%	2.29%	2.31%	2.37%	2.52%	2.33%	2.40%	2.46%	2.78%	2.99%	3.01%	3.45%	3.43%	4.21%
Companies	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	2.23%	2.14%	2.34%	2.37%	2.11%	1.54%	1.46%	1.66%	1.69%	1.83%	1.38%	1.18%	1.07%	1.07%	1.18%	1.11%	0.99%
Non-resident Indians	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	0.53%	0.55%	0.43%	0.43%	0.44%	0.46%	0.49%	0.65%	0.65%	0.65%	0.67%	0.81%	0.67%	0.69%	0.76%	0.75%	0.79%
Investor education fund	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%
Key managers	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	0.00%	0.00%	0.00%	0.00%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	1.63%	1.50%	1.39%	1.02%	0.58%	0.56%	0.58%	0.57%	0.60%	0.65%	0.63%	0.65%	0.66%	0.66%	0.69%	0.71%	0.62%
Clearing Members	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	0.05%	0.03%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	0.02%	0.01%	Under 0.01%	0.02%	0.01%
Hindu undivided families	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	0.77%	0.81%	0.70%	0.58%	0.50%	0.48%	0.49%	0.49%	0.52%	0.59%	0.58%	0.63%	0.59%	0.60%	0.65%	0.64%	0.58%
Director or Director's Relatives	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	–	–	–	–	–	–	–	–	–	–
Others	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	0.01%	0.01%	0.02%	0.02%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	–	–	–	–	–	–	–
LLP	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	0.80%	0.62%	0.61%	0.37%	0.02%	0.01%	0.04%	0.01%	0.01%	0.02%	0.02%	0.02%	0.05%	0.05%	0.03%	0.05%	0.03%
Trusts	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	Under 0.01%	0.02%	0.05%	0.05%	0.05%	0.05%	0.05%	0.06%	0.06%	0.03%	0.03%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%
Shares in issue	1,23,25,037	1,23,25,037	1,23,25,037	1,23,25,037	1,23,25,037	1,23,25,037	1,23,25,037	1,23,25,037	1,23,25,037	1,23,25,037	1,23,25,037	1,23,25,037	1,23,25,037	1,23,25,037	1,23,25,037	1,23,25,037	1,23,25,037	1,23,25,037	1,23,25,037	1,23,25,037	6,16,25,185	6,16,25,185	6,16,25,185	6,16,25,185	6,16,25,185	6,16,25,185	6,16,25,185	6,16,25,185	6,16,25,185	6,16,25,185	6,16,25,185	6,16,25,185	6,16,25,185	6,16,25,185	6,16,25,185	6,16,25,185	6,16,25,185	6,16,25,185	6,16,25,185	6,16,25,185

Filings before Sep 2022 are on an older form, which did not split institutions into foreign and Indian and grouped some holders differently, so those columns show only the lines both forms state alike. A dash is a line the filing did not state. “Under 0.01%” is a holding of shares too small to show at two decimals.

Number of Kewal Kiran Clothing shareholders

Shareholders on the company's register in each filing.

Shareholders, filing by filing

Shareholders	Dec 2016	Mar 2017	Jun 2017	Sep 2017	Dec 2017	Mar 2018	Jun 2018	Sep 2018	Dec 2018	Mar 2019	Jun 2019	Sep 2019	Dec 2019	Mar 2020	Jun 2020	Sep 2020	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
All shareholders	3,980	4,019	4,319	4,124	4,146	5,001	5,011	5,080	5,085	5,101	5,185	5,193	5,201	5,176	5,858	5,891	5,836	5,792	6,683	8,497	31,347	29,026	25,406	25,662	35,083	30,942	29,342	30,263	32,016	33,372	33,495	34,814	36,514	35,786	34,915	35,368	34,175	33,321	32,735	32,235
	16	16	16	16	16	16	16	16	16	16	16	16	16	16	16	16	16	16	16	16	16	16	16	16	16	16	16	16	16	16	16	16	16	16	16	16	16	16	16	16
Indian promoters	16	16	16	16	16	16	16	16	16	16	16	16	16	16	16	16	16	16	16	16	16	16	16	16	16	16	16	16	16	16	16	16	16	16	16	16	16	16	16	16
	3,964	4,003	4,303	4,108	4,130	4,985	4,995	5,064	5,069	5,085	5,169	5,177	5,185	5,160	5,842	5,875	5,820	5,776	6,667	8,481	31,331	29,010	25,390	25,646	35,067	30,926	29,326	30,247	32,000	33,356	33,479	34,798	36,498	35,770	34,899	35,352	34,159	33,305	32,719	32,219
	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	47	48	42	42	43	48	42	47	49	45	49	49	46	41	42	47	51
Foreign portfolio investors, category I	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	0	48	40	38	40	45	40	43	46	43	46	45	43	39	40	44	46
Foreign portfolio investors, category II	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	47	0	2	4	3	3	2	4	3	2	3	4	3	2	2	3	5
	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	7	7	7	13	14	14	14	14	12	13	12	12	14	14	13	13	13
Mutual funds	20	16	13	11	11	4	4	4	4	4	4	4	4	4	3	3	3	3	3	3	2	2	2	2	2	2	5	7	9	8	7	6	7	6	7	8	8	8	8	8
Insurance companies	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	0	0	0	0	0	0	0	1	1	1	2	2	2	2	2	1	–	–	–	–	–
Alternative investment funds	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	0	0	0	0	3	4	4	6	5	4	4	5	4	4	4	4	6	6	5	5	5
Non-bank lenders registered with RBI	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	2	1	1	1	1	0	0	0	0	0	0	–	–	–	–	–	–
	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	0	0	0	0	0	0	0	0	0	1	1	1	1	1	1	1	1
Central government	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	0	0	0	0	0	0	0	0	0	1	1	1	1	1	1	1	1
	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	25,592	35,012	30,877	29,271	30,190	31,938	33,300	33,418	34,737	36,439	35,708	34,837	35,291	34,103	33,249	32,658	32,154
Resident individuals, up to ₹2 lakh at face value	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	24,234	33,321	29,203	27,448	28,237	29,743	30,884	30,865	32,119	33,709	33,048	32,259	32,773	31,607	30,805	30,238	29,780
Resident individuals, over ₹2 lakh at face value	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	37	37	37	31	26	28	29	31	26	27	28	29	30	29	35	36	35
Companies	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	155	312	353	439	457	487	506	540	526	546	522	412	398	395	381	369	355
Non-resident Indians	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	477	624	526	603	720	848	1,028	1,105	1,131	1,146	1,127	1,186	1,127	1,137	1,111	1,093	1,080
Investor education fund	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1
Key managers	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	0	0	0	0	2	2	2	2	2	2	2	2	2	2	2	2	2
	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	688	717	757	749	747	829	850	874	932	1,008	980	948	960	932	914	919	901
Clearing Members	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	56	21	13	5	4	5	4	3	3	6	3	4	8	7	7	10	9
Hindu undivided families	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	615	676	720	718	715	787	808	833	888	957	941	910	916	891	879	875	864
Director or Director's Relatives	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	1	1	1	1	1	1	1	–	–	–	–	–	–	–	–	–	–
Others	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	5	5	8	8	6	6	6	6	6	6	–	–	–	–	–	–	–
LLP	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	10	11	11	12	14	23	24	26	30	34	31	31	35	33	27	33	27
Trusts	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	1	3	4	5	7	7	7	6	5	5	5	3	1	1	1	1	1

Kewal Kiran Clothing promoters

Promoters are the founders, families and companies that control the company, as its filings name them. Every member of the promoter group holding shares in the filing for Sep 2026; the largest is Shantaben P Jain, 49.92%. The filing names 3 more members with no shares.Promoter buying and selling

Holder
Shantaben P JainIndividuals and Hindu undivided families	49.92%	3,07,65,000
Dinesh P JainIndividuals and Hindu undivided families	6.05%	37,29,155
Vikas P JainIndividuals and Hindu undivided families	5.99%	36,89,105
Hemant P JainIndividuals and Hindu undivided families	5.74%	35,39,575
Kewalchand P JainIndividuals and Hindu undivided families	5.73%	35,33,055
Sangeeta D JainIndividuals and Hindu undivided families	0.13%	80,000
Hitendra H JainIndividuals and Hindu undivided families	0.13%	80,000
Lata H JainIndividuals and Hindu undivided families	0.13%	80,000
Kesar V JainIndividuals and Hindu undivided families	0.13%	80,000
Veena K JainIndividuals and Hindu undivided families	0.13%	80,000
Pankaj K JainIndividuals and Hindu undivided families	0.13%	80,000
Kewal Kiran Finance Private LimitedIndian companies, trusts and others	0.07%	43,476

No promoter shares are reported as pledged.

Largest public holders of Kewal Kiran Clothing, filing by filing

Per cent, on the same shares as the split above.

Holder	Dec 2016	Mar 2017	Jun 2017	Sep 2017	Dec 2017	Mar 2018	Jun 2018	Sep 2018	Dec 2018	Mar 2019	Jun 2019	Sep 2019	Dec 2019	Mar 2020	Jun 2020	Sep 2020	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
PINEBRIDGE GLOBAL FUNDS - PINEBRIDGE INDIA EQUITY FUNDForeign portfolio investors, category I	–	–	–	–	1.46%	1.46%	1.46%	1.46%	1.46%	1.46%	1.46%	1.46%	1.46%	1.46%	1.46%	1.46%	1.46%	1.46%	1.46%	1.46%	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	1.03%	1.10%	1.10%
Ambit Private LimitedCompanies	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	1.02%	1.02%	1.02%	1.02%	1.02%	1.02%	1.02%	1.02%	1.02%	1.02%	1.02%	1.02%	–	–	–	–	–	–	–	–	–	–	–	–	–
Nalanda India Fund LimitedInstitutions Foreign Portfolio Investor	9.74%	9.74%	9.74%	9.74%	9.74%	9.57%	9.57%	9.57%	9.57%	7.13%	7.13%	7.13%	7.13%	7.13%	7.13%	7.13%	7.13%	7.13%	7.13%	7.13%	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Ambit Capital Private LimitedOther non-institutions	–	–	–	1.01%	1.02%	1.02%	1.02%	1.02%	1.02%	1.02%	1.02%	1.02%	1.02%	1.02%	1.02%	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Matthews India FundInstitutions Foreign Portfolio Investor	2.63%	2.68%	2.68%	2.24%	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Ambit Corporate Finance Private LimitedOther non-institutions	–	–	1.02%	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–

A filing names every holder above one per cent, in the company's own words: an insurer's holding can carry one of its funds' names. A dash is a filing that did not name the holder, which includes holding under one per cent.