Worth Peripherals Limited is a premier Indian manufacturer of high-precision corrugated packaging solutions. With a legacy spanning over **35 years**, the company has evolved from a regional supplier into a technologically advanced partner for over **50 blue-chip brands**. Operating in a single segment—the **Manufacture and Sale of Corrugated Boxes**—the Group provides end-to-end packaging services, from structural design for automatic packing lines to high-graphic multicolor printing for retail marketing. --- ### **Manufacturing Infrastructure & Logistics Excellence** The company operates a robust manufacturing footprint designed for high-volume output and technical precision. Its facilities utilize state-of-the-art machinery sourced from **Europe, Taiwan, and Japan**, ensuring adherence to global quality standards. #### **Current Production Capacity** | Unit | Location | Monthly Capacity | Status | | :--- | :--- | :--- | :--- | | **Worth Peripherals Ltd.** | Pithampur, Madhya Pradesh | **4,000 MT** | Operational | | **Yash Packers (JV - 50%)** | Valsad, Gujarat | **2,000 MT** | Operational | | **Indore Greenfield Project** | Indore, Madhya Pradesh | **TBD** | Upcoming | #### **Operational Advantages** * **In-House Logistics:** The company maintains a fleet of **85+ GPS-enabled vehicles**, providing a competitive edge in delivery reliability and supply chain transparency. * **Quality & Compliance:** The Group holds **ISO 9001:2008**, **SEDEX**, and **FSC** certifications. It strictly adheres to **SMETA** ethical trade guidelines, making it a preferred vendor for multinational corporations. * **Technical Testing:** An **in-house laboratory** monitors critical parameters, including **bursting strength, stiffness, and load-bearing capacity**, ensuring safety for diverse end-use applications. --- ### **Strategic Growth Lever: The ₹125 Crore Expansion** The Group is currently executing a transformative expansion through its **100% wholly owned subsidiary**, **Worth Wellness Private Limited**. Originally conceived for personal care products, the subsidiary’s mandate was pivotally altered in **July 2024** to focus exclusively on corrugated packaging to meet surging industrial demand. **Project Financials & Status (as of January 2026):** * **Total Estimated Investment:** **₹125 Crores**. * **Funding Mix:** **₹48 Crores** via Term Loans; **₹15 Crores** Working Capital; **₹50 Crores** Inter-corporate Loan. * **Progress:** The first phase of civil works is nearing completion, with machinery arriving on-site for imminent installation. * **Fiscal Incentives:** The project is supported by an **Investment Promotion Assistance (subsidy)** sanctioned by the **MPIDC** totaling **₹1,612 Lakhs**, to be disbursed over seven years. --- ### **Financial Performance & Capital Structure** Worth Peripherals maintains a conservative financial profile characterized by low leverage and consistent shareholder returns. #### **Key Financial Metrics (FY 2024-25)** | Metric | Standalone | Consolidated | | :--- | :--- | :--- | | **Revenue from Operations** | **₹19,265.27 Lakhs** | **₹27,373.57 Lakhs** | | **Net Profit After Tax (PAT)** | **₹1,589 Lakhs** | **₹1,588 Lakhs** | | **Basic EPS (Face Value ₹10)** | **₹10.03** | **₹9.80** | | **General Reserve** | **₹9.65 Crore** | - | #### **Solvency and Liquidity** The company achieved a **negative net debt** position as of **March 2025**, reflecting superior cash flow management. * **Gross Debt:** **₹115.42 Lakhs** (Reduced from ₹189.85 Lakhs in 2024). * **Net Debt to Equity Ratio:** **(0.01)**. * **Dividend Policy:** Maintained a consistent **10% Final Dividend (₹1 per share)**. --- ### **Market Strategy & Sector Diversification** While historically rooted in the **FMCG** sector, the company is aggressively diversifying its client base to mitigate sector-specific cyclicality. * **Target Verticals:** Expanding footprint in **Pharmaceuticals, Breweries, Textiles, Consumer Durables, and Agriculture**. * **Sustainability Leadership:** Capitalizing on government directives for **100% recyclable** packaging. The company’s **FSC-certified** products cater to the "Go Green" initiatives of global brands. * **Value-Added Services:** Moving beyond basic transport brown boxes into **high-graphic cartons** that serve as on-pack marketing tools. --- ### **Corporate Governance & Capital Market Evolution** The company is currently undergoing a significant transition in leadership and market positioning: * **Main Board Migration:** In **July 2025**, the company received in-principle approval to list **1,57,51,000 equity shares** on the **BSE Main Board**, moving up from the NSE SME platform. * **Leadership Transition:** **Mr. Jayvir Chadha** assumed the role of **Managing Director** in August 2025, with **Mr. Raminder Singh Chadha** moving to **Chairman and Whole-Time Director**. * **Audit Oversight:** Appointed **M/s Vatsalya Sharma & Co** as Secretarial Auditors for a **5-year term** to ensure long-term regulatory adherence. --- ### **Risk Management Framework** The Group employs a proactive risk mitigation strategy overseen by the **Audit Committee**. #### **Operational & Market Risks** * **Raw Material Volatility:** **Kraft paper** prices are the primary cost driver. The company manages this through long-term supplier relationships and technical efficiency. * **Currency Exposure:** The company manages fluctuations in **USD, EUR, and SEK** arising from machinery imports and international trade. * **Credit Risk:** **80.7%** of trade receivables are classified as "**Not Due**," demonstrating high-quality debtor management. #### **Credit Ratings (CRISIL)** | Facility | Rating | | :--- | :--- | | **Long Term** | **CRISIL BBB+/Stable** | | **Short Term** | **CRISIL A2** | #### **Regulatory Landscape** The company is currently evaluating the financial impact of the four new **Unified Labour Codes** (Wages, Social Security, Industrial Relations, and Occupational Safety) which became effective in **November 2025**. As of the latest filings, there are no material legal orders or fraud reports impacting the company’s status as a going concern.