Monolithisch IndiaShare price, financial results, shareholding and management
- Market cap
- ₹2,905 cr
- Stock P/E
- 126.1peers 30.6
- Book value
- ₹60.1
- Price to book
- 22.23
- EV / operating profit
- 90.2
- Market cap to sales
- 21.47
- ROCE · FY26
- 34.9%
- ROE · FY26
- 27.8%
- ROE, 3-year average
- 47.3%
- Operating margin · FY26
- 23.6%peers 12.4%
- Sales growth, 3 years
- 47.7%
- Profit growth, 3 years
- 66.4%
- Debt to equity
- 0.05peers 0.38
- Borrowings
- ₹6.5 cr
- Interest cover
- 78.2×
- Cash from business / op. profit
- 43%
- Debtor days
- 63
- Pledged
- 0.00%
- Promoter holding
- 74.57%
- Change in promoter holding
- +0.30 pts
- Shareholders
- 2,229
- 52-week high / low
- ₹1,505 / ₹367
- Dividend yield
- 0.00%
- Face value
- ₹10
Tap or hover on any figure for what it means. Our arithmetic on reported figures, at the latest close.
Monolithisch India share price chart
Close on 6 Nov 2026 · -3.17% on the day · Vol 18,500
Daily prices to 6 Nov 2026, adjusted for splits and bonuses. Closing prices only: check the exchange for the live price.
Share price returns
To the close of 6 Nov 2026
- 1 month
- +5.1%
- 3 months
- +44.0%
- 6 months
- +136.7%
- 1 year
- +153.8%
- Since IPO
- +834.4%
- Traded a day, 20 days
- ₹5.56 cr
- Taken for delivery
- 67%
Business growth
Sales and net profit, from the reported results
| Sales | Profit | |
|---|---|---|
| FY26 on FY25 | +39% | +65% |
| 3 years, a year | +48% | +66% |
About Monolithisch India: business, products and customers
Monolithisch India makes ramming mass, a ready mixed quartz powder that steel makers pack inside their induction furnaces as a lining that holds the molten metal. The lining wears out and has to be replaced often, and the company sells mostly to steel plants in eastern India. Its shares trade on NSE Emerge.
Monolithisch India crushes quartzite stone, mixes it with additives such as boric acid and boron oxide, and bags it as ramming mass in several grades, including SGB-777, SLM-999, BG-77 and a newer premium grade called SGB Limited. Steel and foundry plants ram it into their induction furnaces as a heat resistant lining, which wears out over a number of melts and has to be relined. Most customers are iron and steel makers in West Bengal, Jharkhand and Odisha, and the company delivers to their gates.
The company was set up in 2018 as part of the Mineral Group and runs a plant at Sarbari in West Bengal with yearly capacity of 2,50,000 tonnes, and a 72,000 tonne plant at Ranchi through its subsidiary Mineral India Global, which became part of the group in November 2025. A third plant in Purulia, West Bengal, built by the subsidiary Metalurgica India, is meant to take group capacity to about 5.74 lakh tonnes a year.
Read more about the business
What is new: the premium SGB Limited grade made up about half of revenue in the June 2026 quarter. In September 2026 the company won a five year lease on a quartzite block in Nawada, Bihar, at a bid of ₹157 cr, to secure its own raw stone.
From the offer document (June 2025), the investor presentation and earnings call of July 2026, the May 2026 earnings call, the July 2026 results press release and the September 2026 press releases; the January 2026 call for the Mineral India Global merger date.
Read the deeper study ↓In its favour
- Sales have grown fast: 48% a year over three years.
- It earns a high return on the money it uses: ROCE 35% in FY26.
- It has little debt for its size: debt to equity 0.05.
- The promoters own a large part of the company: 74.57%.
To watch
- Start of the Purulia greenfield plant, with the dry run set for 14 September 2026 and technical trials to 30 September 2026 (Earnings call, July 2026, p.3).
- Revenue guidance of ₹55 to 60 cr for the September 2026 quarter and about ₹250 cr for FY27 (Earnings call, July 2026, p.4).
- Mining at the Nawada quartzite block, expected from February or March 2027, and the tranche payments on the ₹157 cr bid (Press release, quartzite block, September 2026, p.1).
- The aim to cut raw material stock by half in the second half of FY27 (Press release, quartzite block, September 2026, p.1).
- It paid no dividend in the past year.
From the company's documents first, then the reported figures read by fixed rules, the same for every company. Facts, not a view on the shares.
Monolithisch India revenue and profit growth
Half-yearly results · Profit and lossSales have grown fast. Last year profit grew faster than sales, so the company kept more from each rupee of sales.
SME companies report every six months.
Monolithisch India half-yearly results
SME companies report every six months · ₹ crore
| H1FY26 | H2FY26 | |
|---|---|---|
| Sales | 57.28 | 78.01 |
| Expenses | 45.30 | 58.03 |
| Operating profit | 11.98 | 19.98 |
| OPM | 20.9% | 25.6% |
| Interest | 0.23 | 0.17 |
| Depreciation | 0.88 | 1.50 |
| Profit before tax | 11.81 | 19.06 |
| Net profit | 8.84 | 14.18 |
Monolithisch India profit and loss
Full years to March, FY20 to FY26 · ₹ crore, consolidated where reported
| FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|
| Sales | 5 | 14 | 24 | 42 | 69 | 97 | 135.29 |
| Expenses | 4 | 12 | 20 | 35 | 56 | 76 | 103.33 |
| Operating profit | 1 | 1 | 4 | 7 | 13 | 21 | 31.96 |
| OPM | 12.0% | 10.0% | 16.0% | 16.0% | 19.0% | 22.0% | 23.6% |
| Other income | 0 | 0 | 0 | 0 | 0 | 0 | 1.70 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0.40 |
| Depreciation | 0 | 0 | 0 | 0 | 1 | 2 | 2.38 |
| Exceptional and other items | -1 | · | · | -1 | · | · | · |
| Profit before tax | 0 | 1 | 4 | 6 | 12 | 19 | 30.88 |
| Tax rate | 28.0% | 0.0% | 25.0% | 16.7% | 25.0% | 26.3% | 25.4% |
| Net profit | 0 | 1 | 3 | 5 | 9 | 14 | 23.03 |
| EPS ₹ | 1.78 | 4.56 | 14 | 25.22 | 48.06 | 9.06 | 11.22 |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
The years to FY25 come rounded to the nearest crore in the source.
Exceptional and other items: profit before tax beyond operating profit, other income, interest and depreciation, such as one-off items or a share of associates' profit, as reported.
Monolithisch India profitability
Margins and returns on capitalLast year the company kept about as much from each rupee of sales as the year before. It earns a high return on the money it uses.
Operating margin, every year
Per cent of sales kept before interest, depreciation and tax
| FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|
| Operating margin | 12.0% | 10.0% | 16.0% | 16.0% | 19.0% | 22.0% | 23.6% |
| Tax rate | 28.0% | 0.0% | 25.0% | 16.7% | 25.0% | 26.3% | 25.4% |
| ROCE | · | 20.0% | 57.1% | 54.5% | 66.7% | 59.4% | 34.9% |
| ROE | · | 40.0% | 66.7% | 62.5% | 62.1% | 51.9% | 27.8% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Monolithisch India debt and cash flow
Balance sheet · Cash flow · Working capitalThe company's own money, its net worth, has grown fast. Its loans are smaller than its own money. Last year the business brought in less cash than it showed as profit, so part of the profit is still to be collected. It spent more on assets and investments than the business brought in, and raised the rest from loans or shares. Customers take about as long to pay as they did in FY24.
Bars below the line are cash going out.
Monolithisch India balance sheet
At each 31 March · ₹ crore
| FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|
| Equity capital | 2 | 2 | 2 | 2 | 2 | 16 | 21.74 |
| Reserves | 0 | 1 | 4 | 8 | 17 | 19 | 108.97 |
| Net worth | 2 | 3 | 6 | 10 | 19 | 35 | 130.71 |
| Borrowings | 2 | 3 | 2 | 4 | 3 | 7 | 6.48 |
| Other liabilities | 1 | 0 | 1 | 2 | 6 | 14 | 8.15 |
| Total liabilities | 5 | 6 | 9 | 16 | 28 | 56 | 145.34 |
| Fixed assets | 2 | 2 | 2 | 4 | 6 | 12 | 28.49 |
| Capital work in progress | 0 | 0 | 0 | 0 | 0 | 0 | 11 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 6.96 |
| Other assets | 3 | 4 | 7 | 12 | 22 | 44 | 98.89 |
| Receivables | · | · | · | · | · | · | 23.24 |
| Inventory | · | · | · | · | · | · | 38.25 |
| Cash | · | · | · | · | · | · | 27.09 |
| Trade payables | · | · | · | · | · | · | 3.60 |
Monolithisch India cash flow
₹ crore
| FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|
| Cash from operations | -1 | 0 | 1 | 1 | 4 | 4 | 13.79 |
| Cash from investing | -1 | -1 | 0 | -3 | -3 | -11 | -53.94 |
| Cash from financing | 2 | 1 | -1 | 2 | -1 | 7 | 62.38 |
| Net cash flow | 0 | 0 | 0 | 0 | 0 | 0 | 22.23 |
| Capital spending | · | · | · | · | · | · | 23.86 |
Working capital
Days
| FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|
| Debtor days | 170 | 52 | 59 | 54 | 58 | 72 | 63 |
| Inventory days | 34 | 106 | 54 | 67 | 85 | 127 | 226 |
| Days payable | 71 | 14 | 9 | 0 | 23 | 53 | 21 |
| Cash conversion cycle | 134 | 144 | 104 | 120 | 120 | 147 | 268 |
| Working capital days | 106 | 68 | 44 | 51 | 65 | 71 | 137 |
Monolithisch India peers and competitors
Listed SME companies in the same industryBy sales, Monolithisch India is number 68 of the 156 listed SME companies in industrial products.
Each company's latest full year and its latest close; companies the exchange puts in the same industry, whose businesses can differ a good deal. A list, not a comparison of their shares.
| Company | Market cap ₹ cr | P/E | Sales ₹ cr | Profit ₹ cr | Op. margin | Debt/equity |
|---|---|---|---|---|---|---|
| Shree Marutinandan Tubes | 15 | 3.6 | 150 | 4 | 4.3% | 0.14 |
| Mittal Sections | 32 | 10.8 | 149 | 3 | 5.0% | 0.43 |
| RFBL Flexi Pack | 235 | 28.5 | 148 | 8.3 | 8.8% | 0.38 |
| Amic Forging | 2,378 | 84.9 | 141 | 28 | 33.0% | 0.03 |
| Sahasra Electronic Solutions | 1,176 | 97.0 | 139 | 12.1 | 13.1% | 0.28 |
| ALUWIND INFRA-TECH | 117 | 11.1 | 139 | 10.5 | 11.8% | 0.59 |
| Monolithisch India | 2,905 | 126.1 | 135 | 23 | 23.6% | 0.05 |
| Technocrats Plasma Systems | 750 | 50.0 | 131 | 15 | 20.0% | 0.38 |
| Bhadora Industries | 279 | 27.9 | 125 | 10 | 13.0% | 0.22 |
| Ameenji Rubber | 296 | 49.3 | 123 | 6 | 16.0% | 1.02 |
| Rex Pipes And Cables Industries | 152 | 32.7 | 121 | 4.7 | 7.0% | 0.72 |
| Median of the 10 others | 257 | 30.6 | 139 | 9.1 | 12.4% | 0.38 |
Monolithisch India shareholding pattern
Promoters, FIIs, DIIs, HNIs and small holdersThe promoters own more than half the company, a little more than in the first filing shown. Big foreign and Indian funds own very little. The number of shareholders has grown a lot.
Monolithisch India shareholding pattern
Per cent of shares, from the patterns filed with the exchange. Tap + to see everyone holding 1% or more in that group. HNIs and small holders show only where the pattern was filed in full.
| Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 | Sep 26 | |
|---|---|---|---|---|---|---|
| Promoters | 73.61% | 74.15% | 74.24% | 74.27% | 74.27% | 74.57% |
| Foreign investors (FIIs) | 4.68% | 2.37% | 1.33% | 1.31% | 1.79% | 1.61% |
| Indian institutions (DIIs) | 3.71% | 2.43% | 2.37% | 2.61% | 2.82% | 2.76% |
| HNIs (over ₹2 lakh each) | 6.54% | 6.75% | 7.72% | 7.58% | 7.36% | 7.90% |
| Small holders (up to ₹2 lakh) | 7.03% | 8.67% | 9.20% | 8.99% | 9.50% | 9.15% |
| Companies and others | 4.43% | 5.63% | 5.14% | 5.24% | 4.26% | 4.01% |
| Number of shareholders | 967 | 1,081 | 1,623 | 1,658 | 2,102 | 2,229 |
The named holders are at 30 Sept 2026, beside 30 June 2026, each under the group the pattern files them in.
Monolithisch India study: the business from its own documents
Read from 13 of the company's own documentsMonolithisch India so far
From the company's own record
- 19 June 2025Listed on NSE Emerge at ₹143
- 30 Sept 2026Promoters at 74.57%
- 10 Sept 2026Highest close since listing, ₹1,446.40
Monolithisch India key facts from the filings
Each figure with the document it comes from
- Latest quarter
- ₹47.2 cr
- Revenue in the June 2026 quarter, up 64% on a year earlier, with profit after tax of ₹10.1 cr; the company calls it its best quarter so far.Results press release, July 2026, p.2
- Capacity used
- About 70%
- Share of capacity used in the June 2026 quarter, when the company handled about 52,000 tonnes.Results press release, July 2026, p.2
- Premium grade
- About 50%
- Share of June 2026 quarter revenue from the SGB Limited grade, up from about 15% in the March 2026 quarter; the company expects about 65% in the September 2026 quarter.Investor presentation, July 2026, p.7; Earnings call, July 2026, p.4
- Price for premium
- ₹700 to ₹800 a tonne
- Extra price the company says it takes for SGB Limited over its older grades, for what it says is 15% to 20% longer lining life.Earnings call, July 2026, p.4 and p.8
- New plant
- 5.74 lakh tonnes
- Group capacity a year once the Purulia greenfield plant runs, up from 2.56 lakh tonnes; the company set its dry run for 14 September 2026.Earnings call, July 2026, p.3 and p.4
Show 5 more facts
- Own quartzite
- ₹157 cr
- Winning bid for a five year lease on a quartzite block in Nawada, Bihar, with approved output of 7.1 lakh tonnes a year, payable in tranches; mining is expected to start in February or March 2027.Press release, quartzite block, September 2026, p.1
- Top ten customers
- 59.4%
- Share of FY25 revenue from the ten largest customers, down from 68.6% in FY24; the three largest gave 25.6%.Offer document, p.31
- Customers
- 63
- Customers served in FY25, up from 41 in FY23; repeat customers brought in about 61% of FY24 business.Offer document, p.113 and p.117
- Lining trial
- 32 heats
- Melts that an SGB Limited lining lasted in a trial at Shree Ram Multimetals in Punjab, against 22 to 25 heats that the company gives as the usual standard.Press release, lining trial, September 2026, p.1 and p.2
- Exports
- ₹2 to 3 cr
- Rough part of June 2026 quarter revenue that went abroad, to Nepal and Bangladesh through Indian traders, as the Managing Director put it on the call.Earnings call, July 2026, p.8
What the company said, and what happened
The company's own statements, attributed, set against what it later reported; not newboard's estimates
On the July 2026 call the company said it expects revenue of ₹55 to 60 cr in the September 2026 quarter and about ₹250 cr for FY27, and the Managing Director said it guides an EBITDA margin of 22% to 25%. It said the Purulia greenfield plant would have its dry run on 14 September 2026 with technical trials to 30 September. In September 2026 it said mining at the new Bihar quartzite block should start in February or March 2027, and that it aims to cut its raw material stock by half in the second half of FY27.
| What management said | When | What happened |
|---|---|---|
| FY26 revenue of ₹140 to 150 cr | Jan 2026 call | About ₹135 cr |
| June 2026 quarter revenue of ₹52 to 55 cr | May 2026 call | ₹47.2 cr |
| Greenfield plant inaugurated by Q1 FY27 | Jan 2026 call | Moved to Q2 FY27; dry run set for 14 September 2026 |
| FY27 revenue of ₹250 to 300 cr | May 2026 call | Restated as about ₹250 cr in July 2026 |
Is it a good business? Six questions
Each answer is about that one question, read from the documents; tap one for the evidence. Not a view on the shares.
Monolithisch India earns its money selling a furnace lining that steel plants use up and must replace again and again, and a newer premium grade is lifting its prices.
Its weak spots are dependence on steel makers in one region, a lot of money held in raw material stock, and big new commitments on a plant and a quartzite mine.
AverageCan it set its own prices?Customers pay more for the premium grade because a longer lasting lining saves them furnace downtime. For the rest, prices follow the market, and the company itself guides a steady margin rather than a rising one.
AverageHow strong is it against rivals?Its plants sit close to the steel plants it serves, and a new grade has to pass a furnace trial, which favours a known supplier. But much of the market is unorganised, and large customers keep more than one supplier.
AverageWho are its customers?Iron and steel makers in eastern India, and the ten largest brought in well over half of sales in FY25, though that share has been falling.
WatchDoes it need a lot of money?The plants are not costly, but the company keeps large stocks of stone and additives, and it has taken on a quartzite lease that will be paid for over five years.
StrongCan it keep finding new work?The lining is used up in every furnace campaign, so the same customers keep coming back, and the premium grade is winning trials at new plants.
AverageDo good and bad years swing a lot?Demand follows steel output, and freight and raw material prices can move margins from quarter to quarter.
Who runs Monolithisch India?
Promoters, directors and officers; tap a name for the background
PTPrabhat TekriwalPromoter, Chairman, Whole-Time Director and Chief Financial Officer · holds 9.89%
Holds a Bachelor's degree in Commerce from the University of Ranchi and has over 36 years of experience in refractory material manufacturing. With the company since its incorporation, and oversees finance, corporate strategy and dealings with stakeholders.
Offer document, p.145 and p.146HTHarsh TekriwalPromoter and Managing Director
Holds a Master's degree in Business Administration and a Bachelor's degree in Mechanical Engineering from Cardiff University, with about seven years of industry experience at the time of the offer. With the company since its incorporation and runs its business operations. The offer document states that Harsh Tekriwal is the son of Prabhat Tekriwal and Sharmila Tekriwal.
Offer document, p.145, p.146 and p.147; Earnings call, July 2026, p.2STSharmila TekriwalPromoter and Non-Executive Director
Has around 23 years of experience in the refractory material industry and has been with the company since its incorporation. The offer document states that Sharmila Tekriwal is the spouse of Prabhat Tekriwal.
Offer document, p.145, p.146 and p.147KTKritish TekriwalPromoter and Executive Director
Holds a Bachelor of Science with Honours in Banking and International Finance; joined the board in January 2025 and handles investor relations. The offer document states that Kritish Tekriwal is the son of Prabhat Tekriwal and Sharmila Tekriwal.
Offer document, p.145, p.146 and p.147KTKargil Transport Private LimitedPromoter (company) · holds 64.04%
A Ranchi based private company incorporated in 1999 whose stated business is road transport and related services; it holds the largest block of the company's shares.
Offer document, p.157 and p.158SJSuman JeeIndependent Director
A Fellow Member of the Institute of Company Secretaries of India with over 10 years in corporate law, governance and compliance, and proprietor of Jee S and Co. On the board since December 2024.
Offer document, p.146 and p.147SSSatyen SahayIndependent Director
Holds an M.Sc. from Ranchi University and has over seven years of experience in the steel fabrication business. On the board since December 2024.
Offer document, p.146 and p.147Monolithisch India latest news and announcements
Announcements · Documents · Corporate actionsWhat changed recently
Each half-year is set against the same half a year earlier
- Shareholding, 30 Sept 2026: promoters 74.27% to 74.57%.
Monolithisch India announcements
97 on record, latest first; each opens the filing on the exchange
- Certificate under SEBI (Depositories and Participants) Regulations, 2018Certificate under SEBI (Depositories and Participants) Regulations, 2018PDF ↗
- Analysts/Institutional Investor Meet/Con. Call UpdatesTranscriptPDF ↗
- Analysts/Institutional Investor Meet/Con. Call UpdatesLink of RecordingPDF ↗
- Analysts/Institutional Investor Meet/Con. Call UpdatesSchedule of meetPDF ↗
- Analysts/Institutional Investor Meet/Con. Call UpdatesSchedule of meetPDF ↗
- Shareholders meetingProceedings of Annual General Meeting held on September 29, 2026PDF ↗
- General UpdatesGeneral UpdatesPDF ↗
- Press Releasea press release dated September 25, 2026, titled "Intimation regarding SGB Limited setting the ultimate benchmark for lining material life and quality with a rePDF ↗
- Press Releasea press release dated September 23, 2026, titled ": Appointment of Ernst & Young LLP as Investor Relations (IR) Partner"PDF ↗
- General UpdatesGeneral UpdatesPDF ↗
- Press Releasea press release dated September 17, 2026, titled "Update on Greenfield Project of Subsidiary Company, Metalurgica India Private Limited"PDF ↗
- Press Releasea press release dated September 10, 2026, titled "Intimation regarding allotment of Flagship Quartzite stone block in Nawada District, Bihar, conducted by the MPDF ↗
Monolithisch India annual reports, earnings calls and documents
Every document links to its source; “read” marks those this page is built from
Monolithisch India share split, bonus and dividends
From the corporate actions the company announces on the exchange
No share split, bonus issue or dividend is on record since listing.
Checks we ran on Monolithisch India's data · 9
Before any number shows, it goes through the same checks. A figure that fails is held back, never shown as if it were right.
- ✓Balance sheet totals add up for FY25 and FY26.
- ✓Market cap uses the share count in the latest shareholding pattern (2,17,36,000 shares).
- ✓The share capital in the FY26 results matches the share count in the shareholding pattern.
- ✓Promoter pledge figures are within possible limits in every shareholding pattern shown.
- ✓Promoter and public holdings add up to 100% in every shareholding pattern shown.
- ✓The two half-years of FY26 add up to the full-year sales.
- !Earnings per share changes basis between FY24 (₹48.06) and FY25 (₹9.06) because the share count behind it changes; EPS is shown as reported, and growth is worked out on profit.
- ✓Revenue and profit are reported for every year shown, FY20 to FY26.
- iPrices run to the close on 14 Oct 2026, from the exchange's daily figures.
Questions people ask about Monolithisch India
What does Monolithisch India do?
Monolithisch India makes ramming mass, a ready mixed quartz powder that steel makers pack inside their induction furnaces as a lining that holds the molten metal. The lining wears out and has to be replaced often, and the company sells mostly to steel plants in eastern India. Its shares trade on NSE Emerge.
What is the share price of Monolithisch India?
₹1,336 at the close on 6 Nov 2026, from the exchange's daily figures.
What is the market cap of Monolithisch India?
₹2,905 cr at the close on 6 Nov 2026, on 2,17,36,000 shares.
What is the P/E of Monolithisch India?
126.1 times FY26 profit at the close on 6 Nov 2026 (our arithmetic).
What are Monolithisch India's revenue and profit?
Revenue ₹135 cr and profit after tax ₹23 cr in FY26.
Who are the promoters of Monolithisch India?
Prabhat Tekriwal, Harsh Tekriwal, Sharmila Tekriwal, Kritish Tekriwal, Kargil Transport Private Limited; promoters held 74.57% at 30 Sept 2026.
What was the IPO price of Monolithisch India?
₹143 a share; it listed on 19 June 2025.
What is Monolithisch India's website?
www.monolithisch.com
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Built from 5 press releases, 3 earnings call transcripts, 3 investor presentations, 1 offer document, 1 result filing, 97 exchange announcements, 6 shareholding patterns and 7 years of reported results. Every figure carries its source; where the documents are silent, the page says so.