Strong Q3; D2C channels continued its outperformance Q3FY26 Performance: AFL's consolidated revenues grew by 14.5% YoY to Rs.1,376.6cr in Q3FY26 driven by 10% growth in the retail channel and 50% growth in online D2C channel. Lower discounting and better sourcing capabilities aided gross margins to improve by 49bps YoY to 55.4%. EBITDA margins improved by just 39bps YoY to 14.2%. EBIDTA grew by 18% YoY to Rs194.5cr and Adjusted PAT...