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Worth Peripherals Overview

1. Business Overview

Worth Peripherals Ltd. operates in the Paper & Paper Products sector in India. Its core business involves the manufacturing and sale of various paper-based products. Given its industry, the company likely produces items such as paperboard, corrugated boxes, specialty papers, or other paper-based packaging solutions catering to industrial and possibly consumer markets. The company generates revenue by selling these manufactured paper products to its customer base.

2. Key Segments / Revenue Mix

Specific details regarding key business segments or a detailed revenue mix for Worth Peripherals Ltd. are not publicly provided. Typically, companies in this sector might differentiate revenue by product type (e.g., packaging paper, writing paper, specialty paper) or end-use industry. Without specific data, it can be inferred that the company's revenue primarily derives from its core paper and paper products manufacturing operations.

3. Industry & Positioning

The Indian Paper & Paper Products industry is diverse, encompassing both large integrated players and smaller, specialized manufacturers. It is often characterized by its capital-intensive nature, reliance on raw materials like wood pulp and waste paper, and susceptibility to cyclical demand. The industry also faces evolving environmental regulations and competition from both domestic and international players. Worth Peripherals Ltd. operates within this competitive landscape, likely carving out its position through product specialization (implied by "Peripherals"), operational efficiencies, or customer relationships within its target markets.

4. Competitive Advantage (Moat)

In the paper and paper products industry, durable competitive advantages can be challenging to establish due to the often commoditized nature of products. Potential moats for Worth Peripherals Ltd., if present, could include:

Cost Advantage: Achieved through economies of scale, efficient manufacturing processes, or access to low-cost raw materials.

Specialized Product Niche: If "Peripherals" implies unique or high-value added paper products that are harder to replicate.

Customer Relationships & Distribution: Strong, long-standing relationships with key industrial clients and an effective distribution network.

Operational Efficiency: Superior process technology leading to higher yields or lower energy consumption.

Without specific operational details, a strong, wide moat is not readily apparent, and the industry generally has limited structural moats.

5. Growth Drivers

Key factors that could drive growth for Worth Peripherals Ltd. over the next 3-5 years include:

E-commerce Boom: Increasing demand for packaging solutions (e.g., corrugated boxes) driven by the growth of online retail in India.

Plastic Ban & Sustainability Trends: Growing preference for paper-based packaging alternatives due to environmental concerns and regulatory actions against single-use plastics.

Indian Economic Growth: General economic expansion driving demand across various end-use industries (FMCG, retail, pharmaceuticals) that require paper and packaging products.

Increased Literacy & Education: Rising demand for writing, printing, and specialty papers.

Product Diversification: Expansion into higher-margin or specialized paper products.

6. Risks

Raw Material Price Volatility: Fluctuations in the cost of wood pulp, waste paper, and other inputs can significantly impact profitability.

Energy Costs: Manufacturing paper is an energy-intensive process, making the company vulnerable to rising fuel and power costs.

Environmental Regulations: Stringent environmental norms regarding deforestation, water usage, and pollution can lead to increased compliance costs or operational restrictions.

Cyclical Demand: The paper industry can be cyclical, with demand often tied to economic growth, leading to revenue and profit volatility.

Competition: Intense competition from domestic and international players can put pressure on pricing and market share.

Capital Intensity: High capital expenditure requirements for capacity expansion or modernization.

7. Management & Ownership

As is common with many Indian companies, Worth Peripherals Ltd. is likely led by its promoters (founding family or individuals). The ownership structure is typically characterized by a significant promoter holding, which often provides long-term vision but can also concentrate decision-making power. Specific details on management quality or ownership percentages are not available in the provided information.

8. Outlook

Worth Peripherals Ltd. operates in a foundational industry within India, poised to benefit from several macro trends. The increasing demand for paper-based packaging driven by e-commerce growth and the shift away from plastics due to environmental concerns present a positive long-term demand outlook. Operational efficiencies and strategic product positioning within its "Peripherals" niche could enable the company to capitalize on these tailwinds.

However, the company faces inherent industry challenges including the cyclical nature of demand, volatility in raw material and energy prices, and a competitive landscape. Stricter environmental regulations also pose an ongoing operational and cost risk. The company's ability to manage these input costs, maintain efficient operations, and potentially differentiate its product offerings will be key to navigating these challenges and achieving sustainable growth.

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Worth Peripherals Key Financials

Market Cap ₹206 Cr.

Stock P/E 11.9

P/B 1.1

Current Price ₹131

Book Value ₹ 119

Face Value 10

52W High ₹201.6

Dividend Yield 0.76%

52W Low ₹ 114.5

Worth Peripherals Share Price

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Volume
Price

Worth Peripherals Quarterly Price

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Worth Peripherals Peer Comparison

Worth Peripherals Quarterly Results

#(Fig in Cr.) Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
Net Sales 59 59 66 70 68 71 76 77 75 76
Other Income 1 5 1 1 1 2 1 1 0 0
Total Income 61 64 67 71 69 73 77 79 75 76
Total Expenditure 54 53 60 64 61 63 69 69 67 67
Operating Profit 6 11 7 7 8 10 8 10 8 9
Interest 1 0 0 0 0 1 0 0 0 0
Depreciation 2 1 2 2 2 2 2 2 2 2
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 -0
Profit Before Tax 4 9 5 5 6 7 6 8 6 7
Provision for Tax 1 2 1 2 2 2 2 2 2 2
Profit After Tax 3 7 4 4 5 5 4 6 4 5
Adjustments 0 -0 -0 -1 -1 -0 -1 -1 -1 -1
Profit After Adjustments 3 7 3 3 4 5 3 5 3 3
Adjusted Earnings Per Share 1.9 4.2 2.1 1.9 2.6 3.2 2.2 2.9 2 2.2

Worth Peripherals Profit & Loss

#(Fig in Cr.) Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 138 158 193 175 217 293 297 238 276 304
Other Income 6 3 1 4 6 7 2 8 5 2
Total Income 144 161 193 179 223 300 300 247 280 307
Total Expenditure 122 136 167 151 189 264 263 217 248 272
Operating Profit 22 25 26 28 34 36 36 30 33 35
Interest 3 2 2 2 2 1 1 2 2 0
Depreciation 4 4 5 6 6 6 6 6 7 8
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 15 19 20 20 26 29 29 22 24 27
Provision for Tax 4 12 5 5 8 8 8 6 7 8
Profit After Tax 11 7 15 15 18 21 21 16 17 19
Adjustments 0 0 -2 -1 -2 -2 -3 -0 -2 -4
Profit After Adjustments 11 7 13 14 16 19 18 16 15 14
Adjusted Earnings Per Share 0 4.7 8.2 8.9 10.1 12.2 11.5 10.1 9.8 9.3

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 16% -2% 10% 0%
Operating Profit CAGR 10% -3% 3% 0%
PAT CAGR 6% -7% 3% 0%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR -12% 8% 16% NA%
ROE Average 10% 12% 14% 17%
ROCE Average 14% 17% 19% 22%

Worth Peripherals Balance Sheet

#(Fig in Cr.) Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 42 66 78 92 107 126 143 159 174
Minority's Interest 0 0 7 8 9 11 14 15 15
Borrowings 16 10 7 19 19 1 1 8 5
Other Non-Current Liabilities 0 6 6 6 8 9 9 10 11
Total Current Liabilities 24 22 18 14 21 43 16 19 29
Total Liabilities 82 104 115 139 163 190 183 210 234
Fixed Assets 49 52 56 83 79 76 79 91 84
Other Non-Current Assets 2 1 5 0 3 7 7 5 17
Total Current Assets 31 51 53 56 81 108 97 114 133
Total Assets 82 104 115 139 163 190 183 210 234

Worth Peripherals Cash Flow

#(Fig in Cr.) Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 1 0 0 12 0 4 7 1 1
Cash Flow from Operating Activities 10 8 16 17 13 16 34 13 21
Cash Flow from Investing Activities -6 -7 5 -37 -7 -9 -23 -18 -26
Cash Flow from Financing Activities -5 11 -9 9 -2 -3 -17 5 7
Net Cash Inflow / Outflow -1 12 12 -11 4 3 -6 -0 2
Closing Cash & Cash Equivalent 0 12 12 0 4 7 1 1 3

Worth Peripherals Ratios

# Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) 0 4.7 8.24 8.89 10.15 12.15 11.47 10.08 9.8
CEPS(Rs) 12.59 7.23 12.46 13.46 15.35 17.19 17.05 14.26 15.18
DPS(Rs) 0 0 1.5 2.25 2 1 1 1 1
Book NAV/Share(Rs) 0 41.82 49.73 58.39 67.97 79.86 91.09 100.91 110.42
Core EBITDA Margin(%) 10.68 13.76 13.34 13.76 12.71 9.99 11.46 8.96 10.1
EBIT Margin(%) 12.37 13.25 11.11 12.59 12.61 10.2 10.08 9.92 9.4
Pre Tax Margin(%) 10.42 12 10.19 11.34 11.82 9.82 9.66 9.21 8.69
PAT Margin (%) 7.38 4.63 7.56 8.74 8.28 7.11 6.94 6.84 6.29
Cash Profit Margin (%) 9.99 7.12 10.19 12.08 11.16 9.25 9.02 9.42 8.67
ROA(%) 13.06 7.98 13.32 12.06 11.86 11.76 11.07 8.3 7.81
ROE(%) 25.7 13.77 20.19 18.01 18.03 17.87 15.35 10.79 10.42
ROCE(%) 27.52 28.95 25.33 22.05 22.75 21.98 20.66 15.04 14.36
Receivable days 37.93 36.39 39.71 52 50.62 48.53 49 58.61 54.25
Inventory Days 24.63 26.32 26.82 29.91 25.77 25.88 24.32 26.92 23.76
Payable days 45.62 37.31 33.01 38.06 28.23 24.09 21.88 21.47 16.71
PER(x) 0 20.62 8.49 4.61 4.74 8.46 8.02 10.01 15.27
Price/Book(x) 0 2.32 1.41 0.7 0.71 1.29 1.01 1 1.36
Dividend Yield(%) 0 0 2.14 5.49 4.16 0.97 1.09 0.99 0.67
EV/Net Sales(x) 0.25 0.99 0.56 0.42 0.34 0.51 0.36 0.5 0.67
EV/Core EBITDA(x) 1.6 6.18 4.08 2.61 2.21 4.12 2.93 3.99 5.71
Net Sales Growth(%) 0 14.49 22.31 -8.91 23.5 35.09 1.61 -19.84 15.66
EBIT Growth(%) 0 18.11 1.04 3.28 23.66 9.28 0.43 -21.14 9.65
PAT Growth(%) 0 -30.83 96.69 5.31 17 15.98 -0.7 -21.02 6.28
EPS Growth(%) 0 -49.5 75.37 7.85 14.16 19.77 -5.63 -12.07 -2.82
Debt/Equity(x) 0.56 0.23 0.12 0.22 0.19 0.15 0.02 0.06 0.11
Current Ratio(x) 1.3 2.32 3.04 3.87 3.93 2.51 6.01 5.94 4.65
Quick Ratio(x) 0.89 1.71 2.18 2.92 3.11 1.94 5.08 4.89 4.1
Interest Cover(x) 6.34 10.65 12.09 10.06 16.01 26.9 24.04 14.02 13.24
Total Debt/Mcap(x) 0 0.1 0.09 0.32 0.27 0.11 0.02 0.06 0.08

Worth Peripherals Shareholding Pattern

# Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Oct 2025 Dec 2025 Mar 2026
Promoter 74.51 74.51 74.51 68.16 68.16 68.16 0 68.16 68.16 68.16
FII 0 0 0 0 0.01 0 0 0 0 0
DII 0 0 0 0 0 0 0 0 0 0
Public 25.49 25.49 25.49 31.84 31.84 31.84 0 31.84 31.84 31.84
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 0 100 100 100

Worth Peripherals News

Worth Peripherals Pros & Cons

Pros

  • Debtor days have improved from 21.47 to 16.71days.
  • Company has reduced debt.
  • Company is almost debt free.

Cons

    0
  • Company has a low return on equity of 12% over the last 3 years.
  • The company has delivered a poor profit growth of 2% over past five years.
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