WORTH PERIPHERALSWorth Peripherals Ltd.NSE:WORTHPERITechnicalAnalystSucritWorth Peripherals Ltd. (CMP ₹159.00, NSE: WORTH) The SmartWay Research Desk | 22 October 2026 A Mumbai‑based manufacturing company, incorporated in 1995. Worth Peripherals Ltd. is engaged in the manufacturing of corrugated boxes, printed packaging solutions, packaging paper products, and industrial packaging materials. The company caters to sectors such as FMCG, pharmaceuticals, consumer durables, agriculture, food processing, and e‑commerce, with a growing focus on sustainable packaging solutions. Promoter Holding (Jun 2026): Patel Family & Promoter Group — ~72.8% stake (no pledges) FY22–FY26 Snapshot Revenue Growth: FY26 revenue ₹842 Cr vs ₹742 Cr in FY25 (+13.5% YoY). → Good Net Profit: FY26 PAT ₹82 Cr vs ₹68 Cr in FY25 (+20.6% YoY). → Good Operating Margin: FY26 EBITDA ₹142 Cr, margin 16.9% vs 15.8% last year (+110 bps). → Good Equity Capital: Stable, face value ₹10. → Good Dividend Policy: Consistent dividend payout supported by healthy operating cash flows. → Good Asset Building: Investments in capacity expansion, automation, and high‑quality printing infrastructure. → Good Sales: Strong demand from FMCG, pharmaceuticals, food processing, and e‑commerce sectors. → Good Expense: Kraft paper and raw material costs remain key cost variables. → Neutral EPS: FY26 EPS ₹8.25 vs ₹6.85 last year (+20.4%). → Good Institutional Interest & Ownership Trends (Jun 2026) Promoter Holding: ~72.8% (no pledges) FII Holding: ~1.2% DII Holding: ~2.8% Retail & Others: ~23.2% Strategic Moves & Innovations Expansion of corrugated box manufacturing capacity. Focus on high‑value printed packaging products. Increasing automation to improve productivity and margins. Growing presence in sustainable and recyclable packaging solutions. Cash Flow & Balance Sheet Strength Market cap ~₹850 Cr. Debt‑to‑equity ratio ~0.18 (low leverage). Book Value per Share ~₹58.00. P/B ~2.7. EPS (TTM) ~₹8.25. P/E ~19.3. Risk Factors Dependence on FMCG, consumer goods, and industrial demand cycles. Exposure to fluctuations in kraft paper and packaging raw material prices. Customer concentration risk in key industry segments. Competition from organized and regional packaging manufacturers. Investor Takeaway Worth Peripherals has established itself as a niche player in India's growing packaging industry, benefiting from increasing demand for organized, high‑quality, and sustainable packaging solutions. The company continues to improve capacity utilization, operating efficiency, and product mix while maintaining a healthy balance sheet. With strong promoter backing (Patel Family & Promoter Group holding ~72.8%), low debt levels, and expanding exposure to FMCG, pharmaceutical, and e‑commerce packaging demand, Worth Peripherals remains a small‑cap packaging sector play. At CMP ₹159.00, valuations are reasonable (P/E ~19.3, P/B ~2.7), offering investors exposure to India's long‑term consumption and packaging growth story.