# Nahar Spinning Mills share price today (Nahar Spinning Mills Ltd, NSE: NAHARSPING) > Nahar Spinning Mills share price today: ₹255.15 at the NSE close on 3 November 2026, up 22.9% in a year. Nahar Spinning Mills (NSE: NAHARSPING) is worth ₹918 crore, trades at a P/E of 6.0 and has closed between ₹155.06 and ₹316.25 over the past 52 weeks. > Nahar Spinning Mills Ltd's results are improving, while its P/E is near the low end of its own history over 11 years, higher than only 33% of past readings. NAHARSPING · Textiles - Hosiery/Knitwear · data as of 3 November 2026. Page: https://www.sectoralpha.in/stocks/nahar-spinning-mills-ltd Sector Alpha also publishes a daily newsletter that explains one Indian stock at a time: https://newsletter.sectoralpha.in/?utm_source=sectoralpha&utm_medium=ai_text&utm_campaign=llms ## Key numbers - Price: ₹255.15 (+22.9% in a year) - P/E: 6.0× (lower than 67% of the last 11 years) - Revenue (Sep 2026): ₹894 Cr (+14.8% on a year ago) - Profit (Sep 2026): ₹71.0 Cr - Operating margin: 13.0% (+9.7 points on a year ago) - ROCE: 3%, FY26 - ROIC: 7.5%, against a 12.0% cost of capital: −4.5 points - Profit that came in as cash: 615%, last 3 years The main question: yearly earnings per share moved +76.6% while the share price moved +22.9%. ## What is the Nahar Spinning Mills share price today? Nahar Spinning Mills Ltd's share price was ₹255.15 at the close on 3 November 2026. It has been rising for 27 weeks. That is 0.0% above its average price over the last 200 trading days. In the last 52 weeks it traded between ₹155 and ₹316, and at that close it sat 62% of the way up from that low. Over the past 13 weeks it has done worse than the NIFTY 500, and it has been behind for 4 weeks running. Over the last 11 years the share price moved +178% while the NIFTY 500 moved +251%, so it is behind the index over that whole period. It was last ahead over 13 weeks in the week of 9 October 2026. The chart above shows the 13-week comparison for every week. This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row. ## What changed at Nahar Spinning Mills this quarter? 7 points on a year earlier. 1. Highest quarterly profit in 16 quarters Profit of ₹71 crore in the September 2026 quarter is the highest of the last 16 quarters. 2. Operating margin up 9.7 points on a year earlier 13% in the September 2026 quarter, from 3.3%. ## What are Nahar Spinning Mills' latest quarterly results? For July to September 2026 (the quarter ended 30 September 2026), Nahar Spinning Mills reported revenue of ₹894 crore, up 14.8% from ₹779 crore a year earlier, and a profit of ₹71.0 crore, against a loss of ₹5.00 crore a year earlier. ### Nahar Spinning Mills results: July to September 2026 against a year earlier | Measure | July to September 2026 | July to September 2025 | Change | | --- | --- | --- | --- | | Revenue | ₹894 crore | ₹779 crore | +14.8% | | Profit | ₹71.0 crore | loss of ₹5.00 crore | n/a | | Earnings per share | ₹19.68 | ₹−1.29 | n/a | | Operating margin | 13.0% | 3.3% | +9.7 points | The next results, for October to December 2026, are due by 14 February 2027: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter). (From the company's reported quarterly results (quarter ended 30 September 2026). Revenue and profit in ₹ crore.) ## What is the Nahar Spinning Mills share price history? Nahar Spinning Mills closed at ₹255.15 on 3 November 2026, up 22.9% from ₹207.63 a year earlier (31 October 2025) and down 53.7% over five years. Its highest weekly close since March 2016 was ₹654.90 on 4 February 2022. ### Nahar Spinning Mills share price: then and now | When | Close | Change to 3 Nov 2026 | | --- | --- | --- | | 1 week ago · 23 Oct 2026 | ₹240.85 | +5.9% | | 1 month ago · 1 Oct 2026 | ₹256.60 | −0.6% | | 6 months ago · 30 Apr 2026 | ₹242.70 | +5.1% | | 1 year ago · 31 Oct 2025 | ₹207.63 | +22.9% | | 3 years ago · 3 Nov 2023 | ₹272.40 | −6.3% | | 5 years ago · 4 Nov 2021 | ₹551.45 | −53.7% | | 10 years ago · 4 Nov 2016 | ₹121.85 | +109.4% | | Earliest weekly close in our records · 11 Mar 2016 | ₹91.90 | +177.6% | | Highest weekly close since March 2016 · 4 Feb 2022 | ₹654.90 | −61.0% | | Lowest weekly close since March 2016 · 27 Mar 2020 | ₹25.75 | +890.9% | | 52-week high (weekly close) · 7 Aug 2026 | ₹316.25 | −19.3% | | 52-week low (weekly close) · 23 Jan 2026 | ₹155.06 | +64.5% | Weekly closing prices. Each change is the move from that price to the 3 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes. (563 weekly closes from 11 March 2016 to 3 November 2026.) ## What is the latest news on Nahar Spinning Mills? 3 Nov 2026: Nahar Spinning Mills closed at ₹255.15, up 5.9% on the week and down 0.6% on the month. Results for July to September 2026: Revenue up 14.8% on a year earlier. ### Earlier - 4 Sep 2026: ex-date for a dividend of ₹1 a share. ## What dividend does Nahar Spinning Mills pay? Nahar Spinning Mills paid ₹1 a share in regular dividends in the 12 months to 4 November 2026 (1 payment), a yield of 0.39% at the ₹255.15 close on 3 November 2026. The last was a dividend of ₹1 a share, ex-date 4 September 2026. ### Nahar Spinning Mills dividends since 1 April 2021 | Ex-date | Dividend per share | Type | Record date | | --- | --- | --- | --- | | 4 Sep 2026 | ₹1 | Dividend | same day | | 4 Sep 2025 | ₹1 | Dividend | 5 Sep 2025 | | 6 Sep 2024 | ₹1 | Dividend | n/a | | 8 Sep 2023 | ₹1.50 | Dividend | n/a | | 11 Aug 2022 | ₹2 | Dividend | n/a | | 16 Nov 2021 | ₹1.50 | Interim | 17 Nov 2021 | | 16 Sep 2021 | ₹1.50 | Dividend | n/a | Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. 5 of 5 Of the last 5 financial years, years with an NSE dividend record Yes. Nahar Spinning Mills Ltd paid out 17% of its profit as dividends in FY26, and it paid a dividend in 10 of its last 13 reported years. 2 of those years show a negative figure because profit itself was negative. (From the NSE corporate-actions record, read 4 November 2026.) ## Which stock lists is Nahar Spinning Mills on? Nahar Spinning Mills is on one of our India lists: Undervalued stocks. [Undervalued stocks Profit growth x: 4.4411764705882355](https://www.sectoralpha.in/markets/in/deep-value-stocks) ## Is Nahar Spinning Mills profitable? Nahar Spinning Mills Ltd earned ₹71.0 Cr of net profit in the Sep 2026 quarter. Full-year FY26 profit was ₹22.0 Cr. Over 10 years profit has grown −8.1% a year on average. That is 7.9% of the quarter's revenue. The same quarter a year earlier lost ₹5.0 Cr. 4 of the last 12 reported quarters were loss-making. For the full year, FY26 profit was ₹22.0 Cr (+83.3% on the year before). On average over the last four quarters, profit changed −352.7% and revenue +6.0%. Profit is growing slower than sales: rising costs are taking part of the growth. ## How much revenue does Nahar Spinning Mills make, and is it growing? Nahar Spinning Mills Ltd reported ₹894 Cr of revenue in the Sep 2026 quarter, +14.8% on the same quarter a year earlier. That is the 3rd quarter in a row with growth on the year before. Over 10 years it has grown 4.7% a year on average. The last full year, FY26, came in at ₹3,218 Cr. The last four reported quarters add to ₹3,480 Cr. FY26 revenue was ₹3,218 Cr, −2.0% on the year before. Recent pace: the last four quarters grew +6.0% on average, against 4.7% a year over the longer run, so this year is growing faster than its own long-run rate. Is growth speeding up? Revenue over the last 12 months grew +5.9%, against +4.8% a year over the last 8 quarters (stabilising). ## How much of every ₹100 of sales does Nahar Spinning Mills keep? Nahar Spinning Mills Ltd's operating margin was 13.0% in the Sep 2026 quarter, 9.7 percentage points higher than the same quarter a year ago. Across 13 years it has been between 3.1% and 23.0%. The latest quarter is within that range. Why the margin moved: operating margin changed +9.9 percentage points on the year while gross margin changed +8.1 points. So the gain came mostly from the gross margin, which means input costs and prices charged. ## Is Nahar Spinning Mills' profit turning into cash? Over the last 3 years, 615% of Nahar Spinning Mills Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 it brought in ₹190 Cr of operating cash against ₹22.0 Cr of profit. After ₹70.0 Cr of spending on assets, ₹120 Cr was left over as free cash. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. Why 615% of profit came in as cash: the cash cycle got 57 days shorter between FY21 and FY26, so cash that used to wait in the business now arrives sooner. What to look at next: no single use of cash stands out. The next section checks both the cash tied up in daily operations and the spending on assets. ## Where does Nahar Spinning Mills' cash go? Nahar Spinning Mills Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 194 days in FY26, down from 251 days in FY21. It spent ₹183 Cr on assets over the last 3 years. Customers take 58 days to pay, and stock sits for 143 days on average. At FY26 sales of ₹3,218 Cr, each day of that cycle ties up about ₹8.8 Cr, so roughly ₹1,710 Cr is tied up in the business at any time. FY26: customers took 58 days to pay and stock sat for 143 days, about 4.7 months of sales sitting as stock, for a full cycle of 194 days, shorter than FY21's 251. The full loop: cash goes out to suppliers and production on day 0. Stock sits for 143 days. Customers pay about 58 days after that. Suppliers are paid at 7 days. Together that makes the 194-day cycle. Spending on assets: ₹183 Cr over the last 3 years, against ₹274 Cr of depreciation (the yearly wear and tear on existing assets). So it is spending about what it takes to replace what wears out, or less. Work still in progress is ₹32.0 Cr (FY26): assets paid for that are not earning yet. In short: neither the daily cycle nor new spending is soaking up the cash, so the picture is fairly clean. ## What is Nahar Spinning Mills' P/E ratio, and how does it compare with its own history? Nahar Spinning Mills Ltd's P/E is 6.0×, near the low end of its own history: it has been lower only 33% of the time. Its usual P/E (the middle reading) is 9.3×, over 11 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth. Why the multiple is where it is: over the past year earnings per share moved +76.6% while the price moved +22.9%. Earnings did better than the price, which pulled the multiple down within its own range. Where the price move came from: over 5 years the price moved −14.3% a year; about −2.0% a year came from earnings growth and about −12.3 percentage points from the multiple (the market paying less); over 10 years the price moved +7.7% a year; about +11.0% a year came from earnings growth and about −3.3 percentage points from the multiple (the market paying less). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple. In short: the multiple is low against its own past, so the earnings trend underneath matters more than the multiple. ## Is the Nahar Spinning Mills business getting better or worse? Nahar Spinning Mills Ltd's business trend cannot be read yet. There are fewer than eight usable quarters of growth figures, so there is not enough history to read the trend. This is based on 12 quarters of 2 measures, with some gaps. Why it matters: with too little history, we say so rather than guess a direction. The latest quarter’s profit includes a one-off item bigger than the normal business, so the profit line is shown but does not count in this reading. There are fewer than eight usable quarters, so this page does not guess a direction from so little history. ## How much does Nahar Spinning Mills earn on its capital? Nahar Spinning Mills Ltd earned a ROCE of 3% in FY26. That is up from a low of −1% in FY20. Its return on capital used (ROIC) is 4.5 percentage points below its cost of capital, so growth here does not yet pay for the capital it uses. It comes from a 0.7% net margin and 1.19× asset turnover (sales divided by assets). Why the return is what it is (FY26): a 0.7% net margin × 1.19× asset turnover × 1.78× leverage (assets divided by equity) ≈ 1.5% on equity. The margin does its share; borrowing is a big part of it. The key test, return on capital used minus the cost of capital: 7.5% − 12.0% = −4.5 percentage points. The 12.0% is a standard assumption for the cost of capital in India, not an estimate for this company. Read the sign and size of the gap, not the decimals. Negative: growth at these returns loses value until returns improve. The 7.5% ROIC above is the latest reading, as reported. The yearly chart below shows FY26 at 2.3%, and the quarterly chart works out each 12-month window from the quarterly figures, so the readings differ by date, not by method. ## Does Nahar Spinning Mills have too much debt? Nahar Spinning Mills Ltd has total debt of ₹983 Cr against shareholder equity of ₹1,512 Cr as of Jun 2026, so its debt is 0.65× its equity. Year by year, that ratio went from 0.63 in FY22 to 0.65 in FY26. Keep that borrowing in mind when reading the returns on this page. ## What is the Nahar Spinning Mills shareholding pattern? Promoters raised their stake in Nahar Spinning Mills Ltd by 1.0 percentage points over 8 quarters, the biggest change among its owners. Promoters now own 68.0% of the company. Domestic institutions moved −0.7 points over the same period, to 0.0%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings. Over the last two years: Promoters: +1.0 points over 8 quarters, to 68.0%; Domestic institutions: −0.7 points over 8 quarters, to 0.0%; Foreign institutions: +0.0 points over 8 quarters, to 0.1%. Why the owners changed: promoters drove it (+1.0 points), with the other side taken by domestic institutions (−0.7 points). They raised their stake step by step. ## How far is Nahar Spinning Mills from balance-sheet trouble? For Nahar Spinning Mills Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date. ## How does Nahar Spinning Mills rank in its industry? 56.4 out of 100, rank 1 of 4 in Textiles - Hosiery/Knitwear, with 81% of the evidence available. Nahar Spinning Mills Ltd scores 56.4 out of 100 against the 4 companies it is compared with in Textiles - Hosiery/Knitwear, ranking 1. The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. The four parts add up to the total exactly: 21.8 + 5.9 + 13.3 + 15.4 = 56.4. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is Nahar Spinning Mills compared with? Nahar Spinning Mills ranks 1 of 4 Textiles - Hosiery/Knitwear companies on the 4-Factor Sector Score, with 56.4 out of 100. 1. Nahar Spinning Mills Ltd this page NAHARSPING · turning · Evidence leans up · 81% evidence 56.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 21.8/35 · Revenue 5.9% · Profit 100% · Operating margin change 9.7 points · 74% evidence Capital efficiency 5.9/25 · ROCE 3.3% · Operating margin 13% · 100% evidence Valuation 13.3/20 · P/E 6.2× · PEG 1.05 · 50% evidence Relative strength 15.4/20 · Lead over its industry 19.1% · Lead over NIFTY 500 15.2% · 1 year 25.5% · 100% evidence · 5 of 12 weeks ahead Exact sum: 21.8 + 5.9 + 13.3 + 15.4 = 56.4 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 2. [Dollar Industries Ltd](https://www.sectoralpha.in/stocks/dollar-industries-ltd) DOLLAR · quiet · Evidence leans up · 93% evidence 53.9 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 17.3/35 · Revenue 6.3% · Profit 14.3% · Operating margin change 1 points · 88% evidence Capital efficiency 13.3/25 · ROCE 13.6% · Operating margin 12% · 100% evidence Valuation 17.3/20 · P/E 12.1× · PEG 0.77 · 85% evidence Relative strength 6.0/20 · Lead over its industry -11% · Lead over NIFTY 500 -13.4% · 1 year -33.3% · 100% evidence · 5 of 12 weeks ahead Exact sum: 17.3 + 13.3 + 17.3 + 6 = 53.9 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 3. [Page Industries Ltd](https://www.sectoralpha.in/stocks/page-industries-ltd) PAGEIND · basing · Evidence leans up · 78% evidence 51.6 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 9.7/35 · Revenue 7.6% · Profit -1.1% · Operating margin change -2 points · 88% evidence Capital efficiency 24.0/25 · ROCE 64.4% · Operating margin 20% · 100% evidence Valuation 8.4/20 · P/E 49.2× · PEG 6.98 · 85% evidence Relative strength 9.5/20 · Lead over its industry n/a · Lead over NIFTY 500 -0.9% · 1 year -16.3% · 25% evidence · 0 of 12 weeks ahead Exact sum: 9.7 + 24 + 8.4 + 9.5 = 51.6 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 4. [Rupa & Company Ltd](https://www.sectoralpha.in/stocks/rupa-company-ltd) RUPA · basing · Evidence leans down · 78% evidence 41.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 12.5/35 · Revenue 5.3% · Profit -4% · Operating margin change 1.1 points · 88% evidence Capital efficiency 6.1/25 · ROCE 9.6% · Operating margin 7.8% · 100% evidence Valuation 15.0/20 · P/E 12.1× · PEG 1.39 · 85% evidence Relative strength 7.5/20 · Lead over its industry n/a · Lead over NIFTY 500 -16.3% · 1 year -39% · 25% evidence · 0 of 12 weeks ahead Exact sum: 12.5 + 6.1 + 15 + 7.5 = 41.1 · What this means: The valuation scores well, but earnings are not improving yet, so the business does not back up the low multiple so far. Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Textiles - Hosiery/Knitwear](https://www.sectoralpha.in/sectors/textiles-hosiery-knitwear), all 4 compared on one page. ## Which companies are close to Nahar Spinning Mills in size? Nahar Spinning Mills is the 4th largest of 4 Textiles - Hosiery/Knitwear companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: Page Industries, Dollar Industries and Rupa & Company. It is the smallest. ### Textiles - Hosiery/Knitwear companies close in size 1. [Page Industries Ltd](https://www.sectoralpha.in/stocks/page-industries-ltd) ₹38,481 crore 2. [Dollar Industries Ltd](https://www.sectoralpha.in/stocks/dollar-industries-ltd) ₹1,355 crore 3. [Rupa & Company Ltd](https://www.sectoralpha.in/stocks/rupa-company-ltd) ₹947 crore 4. Nahar Spinning Mills Ltd ₹943 crore [All 4 Textiles - Hosiery/Knitwear companies, largest first](https://www.sectoralpha.in/sectors/textiles-hosiery-knitwear#all-companies) ### Companies close in size in other industries 1. [Rupa & Company Ltd](https://www.sectoralpha.in/stocks/rupa-company-ltd) ₹947 crore · Textiles - Hosiery/Knitwear 2. [Tejas Cargo India Ltd](https://www.sectoralpha.in/stocks/tejas-cargo-india-ltd) ₹946 crore · Logistics 3. Nahar Spinning Mills Ltd ₹943 crore 4. [Indo SMC Ltd](https://www.sectoralpha.in/stocks/indo-smc-ltd) ₹941 crore · Electric Equipment - General 5. [The Hi-Tech Gears Ltd](https://www.sectoralpha.in/stocks/the-hi-tech-gears-ltd) ₹941 crore · Auto Ancillaries - Gears ## What else do people ask about Nahar Spinning Mills? ### What is Nahar Spinning Mills's share price today? Nahar Spinning Mills Ltd's share price is ₹255.15, +22.9% over the past year. The whole company is worth ₹918 Cr on the market. In the last 52 weeks it traded between ₹155 to ₹316; today it is 62% of the way up from the low, 0.0% above its 200-day average (as of 3 November 2026). ### What were Nahar Spinning Mills's latest quarterly results? Nahar Spinning Mills Ltd reported revenue of ₹894 Cr and net profit of ₹71.0 Cr for the Sep 2026 quarter. Earnings per share were ₹19.68. The operating margin was 13.0%, 9.7 percentage points higher than a year earlier (as of 3 November 2026). ### What is Nahar Spinning Mills's market cap? Nahar Spinning Mills Ltd's market capitalisation is ₹918 Cr at a share price of ₹255.15. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 3 November 2026). ### How is Nahar Spinning Mills performing? Nahar Spinning Mills Ltd's share price has been rising for 27 weeks. Over the past 13 weeks it has done worse than the NIFTY 500, for 4 weeks running. This describes what the data did, not a rating (as of 3 November 2026). ### Will Nahar Spinning Mills's share price go up? This page does not forecast Nahar Spinning Mills Ltd's share price. What it shows instead: the share price is ₹255.15, and it has been rising for 27 weeks. Its P/E of 6.0× is higher than 33% of its own last 11 years (as of 3 November 2026). ### Who owns Nahar Spinning Mills? Promoters own 68.0% of Nahar Spinning Mills Ltd, foreign institutions 0.1%, domestic institutions 0.0% and the public 31.9% (latest quarter). The biggest change over the last two years: Promoters raised their stake by 1.0 percentage points over 8 quarters (as of 3 November 2026). ### Where is Nahar Spinning Mills in its business cycle? Nahar Spinning Mills Ltd's FY26 operating margin was 5.0%, against a 13-year range of 3.1% to 23.0%: the low end of its own range, which is often where recoveries start. The latest quarter was 13.0%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 3 November 2026). ### What could break the Nahar Spinning Mills story? The main question: yearly earnings per share moved +76.6% while the share price moved +22.9%. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 3 November 2026). ### Is Nahar Spinning Mills a stock worth studying right now? What the numbers show: Nahar Spinning Mills Ltd's results are improving, while its P/E is near the low end of its own history over 11 years, higher than only 33% of past readings. The main open question: whether the price catches up with earnings that have already grown. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 3 November 2026). ## Lists - Undervalued stocks: https://www.sectoralpha.in/markets/in/deep-value-stocks This is research, not advice. We’re not SEBI-registered.