JK Paper Ltd.'s (JK Paper) Q4FY26 result was in-line with our estimate on net sales front, while margins were beat to our forecast. The management cited that the higher volume with improved operational efficiencies contributed to better performance during the current quarter compared to the corresponding period as well as sequentially. Despite high wood cost and low priced imports, which have severely eroded industry margins, JK Paper achieved its highest ever Paper and Board sale of 8.19 Lac MT during FY26 and maintained its leadership position across its product categories. The performance of the Company's packaging...