Nilkamal Ltd.'s (NILK) Q4FY26 result was in-line with our estimates on key parameters. During FY26, the B2B segment of the Company achieved a growth of 13% in value & 9% in volume terms. Material Handling Business grew by 13%. The Mattress and Foam Business grew by 65%, Bubbleguard business grew by 27%, Furniture business grew by 32%. The Retail & E-commerce segment achieved growth of 17% and clocked turnover of Rs4 Bn. The E-commerce business grew by 19% while the retail through stores grew by 16%.. NILK is operating 31 stores while 70 stores are under franchisee arrangement....