ACL Earnings Review – 3Q FY26 📈 3Q FY26 Performance: EPS increased to LKR 2.57 (vs LKR 1.53 YoY), supported by 29% revenue growth driven by higher volumes, while pricing remained broadly stable. 📊 Margins: Gross margin declined to 26.9% due to elevated raw material costs, while EBIT margin remained stable at ~21%, supported by higher revenue and other income. 📘 Outlook: Recent price revisions and a strong order book provide earnings visibility over the next two quarters, while further price adjustments may be required amid rising inflation, currency depreciation, and elevated input cost pressures. Valuation & Recommendation: BUY | TP: LKR 134.60 (+36.5%)