Dear Shareholders,
I hope that you and your loved ones are safe and in good health. I am pleased to
communicate with the owners of the company to discuss and analyse the financial numbers of
the Company.
In the Financial Year 2023-24, your Company, Worth Peripherals Limited
("WORTH") continued to deliver a resilient performance in a challenging business
environment. We witnessed a high inflationary impact in the raw material prices as well as
stiff competition due to overcapacities in the industry. Navigating this macro-economic
environment, we continue to focus on nurturing our long-term relationships with existing
clients, adding new customers to our portfolio, driving operational excellence and
developing long-term capabilities that will help us leverage the many opportunities that
India presents.
One of the fastest growing economies in the world, INDIA, is fast progressing on its
Viksit Bharat 2047 roadmap, with an aim to become a developed nation by the 100th
year of its independence. The plan, which was recently unveiled, chalks out actionable and
measurable goals in the areas of economic growth, sustainability, ease of living, ease of
doing business and social welfare. The Government is taking several steps in this
direction including, making significant investment on infrastructure and providing impetus
to manufacturing companies and sectors.
At WORTH, we have taken the need to leverage this opportunity and be the supporters in
the nation s growth journey.
In the continued aftermath of Covid, addressing environmental concerns has become the
essence of living, bringing in a strong shift towards eco-friendly packaging. Paper-based
packaging, being recyclable, has gained prominence as a sustainable choice, driving the
demand for paper materials.
Now let me take this opportunity to report back to you on your Companies performance as
well as the future outlook:
The Company s prime focus is on manufacturing and thus, the company is constantly
striving to improve its manufacturing activities by investment in state-of-the-art
equipment and R&D. The long-term vision is to achieve growth by increasing the
manufacturing and sale of our core product, corrugated boxes and sheets. Further,
reporting about the current year numbers, I am pleased to inform you that this year, Your
Company earned a net profit of Rs. 15,89,27,858.00/- as compared to
Rs. 18,03,92,028/- in the previous year.
Your company is optimistic of revenue & profitability growth going forward due to
addition of new customers, addition of share of business from existing customers,
enhancement of product manufacturing and operational efficiencies.
You will be pleased to know that considering the operational and financial performance,
the Company has declared a Final Dividend of Re. 1 (Rupees One only) per share of Rs. 10
(Rupees Ten each) at a rate of 10% for the F.Y. 2023-24 subject to your approval at the
ensuing Annual General Meeting.
During the F.Y. 2023-24, Your Company spent Rs. 43,50,000/- towards Corporate Social
Responsibility through NGOs for different projects like promoting health care,
education, betterment of children with special needs and providing support to individuals
with autism to bring them into mainstream society through capacity building.
Everything we have accomplished would not have been possible without the relentless
efforts of our teams, and I extend my heartfelt gratitude to the Worth family for their
support and commitment. I am also grateful to all our stakeholders for the trust they have
bestowed on us, and we are committed to fulfilling their expectations and delivering
value.
Thank you once again for being an integral part of our Company.
Best Regards,
Raminder Singh Chadha
Chairman & Managing Director