18)      Redeemable Noncontrolling Interest

The redeemable noncontrolling interest consists of 9.9% of common stock of Narayan Powertech Private Limited ("Narayan"), a privately-held India-based company. The Company owns the remaining 90.1%. During the three and nine months ended  March 31, 2026, Narayan declared and distributed a dividend of $0.7 million and $2.3 million, respectively, to the Company and its noncontrolling interests, allocated according to equity ownership.

In accounting for the subsequent measurement of the redeemable noncontrolling interest measurement adjustments pursuant to ASC 480, Distinguishing Liabilities from Equity, the Company has made accounting policy elections to record any such applicable changes on the immediate recognition of the full adjustment required to report the redeemable noncontrolling interest at its redemption value, while also electing to record such adjustments under the income method, with a corresponding offset recorded to the Net income attributable to noncontrolling interests in consolidated subsidiaries within the consolidated statement of operations for the period in which such measurement adjustment becomes required. Part of the noncontrolling interest is currently redeemable and the remaining noncontrolling interest is probable of redemption as of March 31, 2026. A re-measurement adjustment of $0.8 million and $18.8 million, respectively, has been recorded for the three and nine months ended  March 31, 2026 to record the non-controlling interest as of  March 31, 2026 at its estimated redemption value based on the terms of the Shareholder Agreement with the non-controlling interest shareholder. This re-measurement adjustment has been recorded as a component of the total net income attributable to redeemable noncontrolling interest financial statement line in the Company’s condensed consolidated statements of operations.