📈 Solid fundamentals leaves room for re-rating 💰 2Q FY26 PATMI of LKR 1.4bn (+29% YoY) with EPS of LKR 0.73, driven by strong performance from crop solutions and livestock solutions during the quarter.🌾 Strong Agri Cluster Performance: Supported by consumer spending power and uptick in tourist arrivals.🍗 Livestock: Favourable market conditions for feed and poultry. 🏭 Industrial Activity to pickup: Seasonal demand anticipated for packaging while revival of export industries and construction activities in 2H FY26E to drive demand for industrial chemicals. 📊 Margins: Specialized fertilizer, herbal healthcare and novel therapy pharma molecules to drive margins. ✈️ Export potential: Seeds, Herbal Healthcare (Link Natural) and Health Rice varieties. 📈 Valuation & recommendation: Target prices revised to LKR 40 (CIC.N – BUY) and LKR 32 (CIC.X – BUY) for FY27E. ⚠ Risks: Erratic weather, regulatory changes, exchange rate fluctuations, rising global fertilizer prices