# Packaging & Containers — company-by-company sector analysis

> Packaging & Containers: Pyramid Technoplast Ltd owns the largest revenue base; Shree Tirupati Balajee FIBC Ltd has the fastest current growth.

Sector Alpha — machine-written from the numbers. Data as of 2026-07-26. Not investment advice.

## Bottom line

The 52-week sector comparison is unavailable. 0 of 3 covered companies currently have positive Mansfield relative strength versus NIFTY 500. Pyramid Technoplast Ltd leads with revenue of ₹681 crore, based on 3 of 3 comparable companies through Mar 2026. Shree Tirupati Balajee FIBC Ltd has the fastest current revenue growth at 21.4%, across 3 of 3 comparable companies.

### Is the Packaging & Containers sector outperforming NIFTY 500?

The 52-week sector comparison is unavailable. 0 of 3 covered companies currently have positive Mansfield relative strength versus NIFTY 500.

### Which Packaging & Containers company is largest by revenue?

Pyramid Technoplast Ltd leads with revenue of ₹681 crore, based on 3 of 3 comparable companies through Mar 2026.

### Which Packaging & Containers company is growing fastest?

Shree Tirupati Balajee FIBC Ltd has the fastest current revenue growth at 21.4%, across 3 of 3 comparable companies.

### Which Packaging & Containers company has the strongest 4-Factor Sector Score?

Pyramid Technoplast Ltd ranks first at 46.8/100 with 84% evidence confidence. The score prioritizes research; it is not a buy recommendation.

### Which Packaging & Containers company has the least gross debt?

Oricon Enterprises Ltd has the lowest comparable gross debt at ₹3 crore. Pyramid Technoplast Ltd has the highest at ₹184 crore.

### How much history does this Packaging & Containers comparison include?

The page compares up to 20 reported quarters per company for fundamentals, CAPEX, debt and valuation, ending Mar 2026. Missing observations remain blank rather than being estimated.

### How is the 4-Factor Sector Score calculated?

The four visible contributions add directly: growth and earnings up to 35 points, capital efficiency up to 25, valuation up to 20, and relative strength up to 20. Missing or stale evidence moves only the affected contribution toward neutral.

## Sector relative strength

The 52-week comparison of Packaging & Containers against NIFTY 500 is not available from the current market series. 0 of 3 covered companies currently beat NIFTY on Mansfield relative strength, so leadership inside the sector is selective. Oricon Enterprises Ltd is the strongest against the sector itself at -0.6%.

13-week sector return versus NIFTY 500: —
52-week sector return versus NIFTY 500: —
Stocks leading NIFTY: 0/3
Stocks leading sector: 0/3

Central tension: The central tension: the companies with the most scale are not necessarily the companies creating the most change.

Companies: 3
Combined market value: ₹2.0K Cr

## 4-Factor Sector Score

An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment.

1. Pyramid Technoplast Ltd (PYRAMID): 47/100 — Mixed-negative evidence; evidence 84%
   - Growth & earnings 17.7/35 | Capital efficiency 10.8/25 | Valuation 10.8/20 | Relative strength 7.5/20
   - Exact sum: 17.7 + 10.8 + 10.8 + 7.5 = 46.8
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
2. Shree Tirupati Balajee FIBC Ltd (TIRUPATI): 32/100 — Adverse evidence; evidence 61%
   - Growth & earnings 13.9/35 | Capital efficiency 7.0/25 | Valuation 8.3/20 | Relative strength 3.0/20
   - Exact sum: 13.9 + 7 + 8.3 + 3 = 32.2
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
3. Oricon Enterprises Ltd (ORICONENT): 30/100 — Adverse evidence; evidence 76%
   - Growth & earnings 8.0/35 | Capital efficiency 8.0/25 | Valuation 7.8/20 | Relative strength 6.3/20
   - Exact sum: 8 + 8 + 7.8 + 6.3 = 30.1
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

## Revenue Scale & Growth Durability

What the numbers say: Pyramid Technoplast Ltd is the scale leader at ₹681 crore, 66.5% ahead of Shree Tirupati Balajee FIBC Ltd. Shree Tirupati Balajee FIBC Ltd's growth is 21.4% from a ₹409 crore base, with 10 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.

Investor read: Pyramid Technoplast Ltd is the scale benchmark; Shree Tirupati Balajee FIBC Ltd is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.

This conclusion weakens if: Pyramid Technoplast Ltd's growth falls below Shree Tirupati Balajee FIBC Ltd's for two consecutive comparable reports while operating margin also compresses.

Evidence: Pyramid Technoplast Ltd · ₹681 crore | 66.5% versus #2 · Shree Tirupati Balajee FIBC Ltd | 7/8 recent comparable periods | 3/3 companies · 39 observations

Definition: Revenue is compared on a common reported-currency basis. Growth is year-on-year, so seasonality does not masquerade as progress.

### Revenue — largest
1. Pyramid Technoplast Ltd (PYRAMID): ₹681 Cr
2. Shree Tirupati Balajee FIBC Ltd (TIRUPATI): ₹409 Cr
3. Oricon Enterprises Ltd (ORICONENT): ₹46 Cr

### Revenue growth — fastest growers
1. Shree Tirupati Balajee FIBC Ltd (TIRUPATI): 21%
2. Pyramid Technoplast Ltd (PYRAMID): 15%
3. Oricon Enterprises Ltd (ORICONENT): -43%

### 20-quarter Revenue history
- ORICONENT: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 ₹114 Cr | Dec 2022 ₹125 Cr | Mar 2023 ₹18 Cr | Jun 2023 ₹139 Cr | Sep 2023 ₹29 Cr | Dec 2023 ₹65 Cr | Mar 2024 ₹31 Cr | Jun 2024 ₹32 Cr | Sep 2024 ₹18 Cr | Dec 2024 ₹24 Cr | Mar 2025 ₹7 Cr | Jun 2025 ₹8 Cr | Sep 2025 ₹5 Cr | Dec 2025 ₹18 Cr | Mar 2026 ₹15 Cr
- PYRAMID: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹121 Cr | Mar 2023 ₹123 Cr | Jun 2023 ₹139 Cr | Sep 2023 ₹132 Cr | Dec 2023 ₹128 Cr | Mar 2024 ₹134 Cr | Jun 2024 ₹134 Cr | Sep 2024 ₹133 Cr | Dec 2024 ₹153 Cr | Mar 2025 ₹171 Cr | Jun 2025 ₹164 Cr | Sep 2025 ₹161 Cr | Dec 2025 ₹161 Cr | Mar 2026 ₹195 Cr
- TIRUPATI: Jun 2021 — | Sep 2021 ₹87 Cr | Dec 2021 — | Mar 2022 ₹111 Cr | Jun 2022 — | Sep 2022 ₹97 Cr | Dec 2022 — | Mar 2023 ₹79 Cr | Jun 2023 — | Sep 2023 ₹75 Cr | Dec 2023 — | Mar 2024 ₹86 Cr | Jun 2024 — | Sep 2024 ₹104 Cr | Dec 2024 — | Mar 2025 ₹104 Cr | Jun 2025 — | Sep 2025 ₹94 Cr | Dec 2025 — | Mar 2026 ₹107 Cr

### 20-quarter Revenue growth history
- ORICONENT: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 -75% | Dec 2023 -48% | Mar 2024 76% | Jun 2024 -77% | Sep 2024 -39% | Dec 2024 -63% | Mar 2025 -76% | Jun 2025 -75% | Sep 2025 -70% | Dec 2025 -27% | Mar 2026 105%
- PYRAMID: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 6.1% | Mar 2024 8.9% | Jun 2024 -3.6% | Sep 2024 0.8% | Dec 2024 20% | Mar 2025 28% | Jun 2025 22% | Sep 2025 21% | Dec 2025 5.2% | Mar 2026 14%
- TIRUPATI: Jun 2021 — | Sep 2021 78% | Dec 2021 — | Mar 2022 63% | Jun 2022 — | Sep 2022 11% | Dec 2022 — | Mar 2023 -29% | Jun 2023 — | Sep 2023 -23% | Dec 2023 — | Mar 2024 8.9% | Jun 2024 — | Sep 2024 39% | Dec 2024 — | Mar 2025 21% | Jun 2025 — | Sep 2025 -9.6% | Dec 2025 — | Mar 2026 2.9%

## Operating Economics & Margin Trend

What the numbers say: Pyramid Technoplast Ltd leads both opm at 10% and margin change at +3 percentage points.

Investor read: Pyramid Technoplast Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current margin change signal.

Evidence: Pyramid Technoplast Ltd · 10% | 66.7% versus #2 · Shree Tirupati Balajee FIBC Ltd | 1/8 recent comparable periods | 3/3 companies · 46 observations

Definition: Operating margin compares operating profit with revenue. Improvement is measured in percentage points, not percentage growth.

### OPM — highest
1. Pyramid Technoplast Ltd (PYRAMID): 10%
2. Shree Tirupati Balajee FIBC Ltd (TIRUPATI): 6.0%
3. Oricon Enterprises Ltd (ORICONENT): -172%

### Margin change — fastest expanders
1. Pyramid Technoplast Ltd (PYRAMID): +3.0 pp
2. Shree Tirupati Balajee FIBC Ltd (TIRUPATI): −7.0 pp
3. Oricon Enterprises Ltd (ORICONENT): −18.5 pp

### 20-quarter OPM history
- ORICONENT: Jun 2021 6.7% | Sep 2021 -6.6% | Dec 2021 8.3% | Mar 2022 8.2% | Jun 2022 11% | Sep 2022 6.6% | Dec 2022 -1.1% | Mar 2023 -67% | Jun 2023 10% | Sep 2023 -23% | Dec 2023 -12% | Mar 2024 -30% | Jun 2024 -26% | Sep 2024 -40% | Dec 2024 -30% | Mar 2025 -154% | Jun 2025 -137% | Sep 2025 -160% | Dec 2025 -41% | Mar 2026 -172%
- PYRAMID: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 10% | Sep 2022 12% | Dec 2022 9.8% | Mar 2023 10% | Jun 2023 8.0% | Sep 2023 9.0% | Dec 2023 7.0% | Mar 2024 9.0% | Jun 2024 8.0% | Sep 2024 7.0% | Dec 2024 7.0% | Mar 2025 7.0% | Jun 2025 8.0% | Sep 2025 7.0% | Dec 2025 7.0% | Mar 2026 10%
- TIRUPATI: Jun 2021 — | Sep 2021 7.0% | Dec 2021 — | Mar 2022 6.0% | Jun 2022 — | Sep 2022 7.0% | Dec 2022 — | Mar 2023 11% | Jun 2023 — | Sep 2023 19% | Dec 2023 — | Mar 2024 10% | Jun 2024 — | Sep 2024 11% | Dec 2024 — | Mar 2025 13% | Jun 2025 — | Sep 2025 6.0% | Dec 2025 — | Mar 2026 6.0%

### 20-quarter Margin change history
- ORICONENT: Jun 2021 +18.8 pp | Sep 2021 +0.7 pp | Dec 2021 +7.5 pp | Mar 2022 −0.6 pp | Jun 2022 +4.4 pp | Sep 2022 +13.2 pp | Dec 2022 −9.4 pp | Mar 2023 −75.7 pp | Jun 2023 −0.7 pp | Sep 2023 −30.1 pp | Dec 2023 −11.2 pp | Mar 2024 +37.5 pp | Jun 2024 −36.3 pp | Sep 2024 −16.8 pp | Dec 2024 −17.4 pp | Mar 2025 −123.7 pp | Jun 2025 −111.6 pp | Sep 2025 −119.5 pp | Dec 2025 −11.5 pp | Mar 2026 −18.5 pp
- PYRAMID: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 −2.3 pp | Sep 2023 −2.6 pp | Dec 2023 −2.8 pp | Mar 2024 −1.0 pp | Jun 2024 0.0 pp | Sep 2024 −2.0 pp | Dec 2024 0.0 pp | Mar 2025 −2.0 pp | Jun 2025 0.0 pp | Sep 2025 0.0 pp | Dec 2025 0.0 pp | Mar 2026 +3.0 pp
- TIRUPATI: Jun 2021 — | Sep 2021 −1.0 pp | Dec 2021 — | Mar 2022 −2.0 pp | Jun 2022 — | Sep 2022 0.0 pp | Dec 2022 — | Mar 2023 +5.0 pp | Jun 2023 — | Sep 2023 +12.0 pp | Dec 2023 — | Mar 2024 −1.0 pp | Jun 2024 — | Sep 2024 −8.0 pp | Dec 2024 — | Mar 2025 +3.0 pp | Jun 2025 — | Sep 2025 −5.0 pp | Dec 2025 — | Mar 2026 −7.0 pp

## Profit Scale & Acceleration

What the numbers say: Pyramid Technoplast Ltd leads with ₹29 crore of TTM profit, 12.8% above Oricon Enterprises Ltd. Pyramid Technoplast Ltd shows 3.6% growth from a ₹29 crore profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.

Investor read: Pyramid Technoplast Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.

Evidence: Pyramid Technoplast Ltd · ₹29 crore | 12.8% versus #2 · Oricon Enterprises Ltd | 2/8 recent comparable periods | 3/3 companies · 39 observations

Definition: Net profit is the residual after operating costs, interest and tax. Growth off a loss or near-zero base is excluded from the fastest-grower rank.

### Net profit — largest
1. Pyramid Technoplast Ltd (PYRAMID): ₹29 Cr
2. Oricon Enterprises Ltd (ORICONENT): ₹26 Cr
3. Shree Tirupati Balajee FIBC Ltd (TIRUPATI): ₹17 Cr

### Profit growth — fastest growers
1. Pyramid Technoplast Ltd (PYRAMID): 3.6%
2. Shree Tirupati Balajee FIBC Ltd (TIRUPATI): -29%

### 20-quarter Net profit history
- ORICONENT: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 ₹4 Cr | Dec 2022 ₹-7 Cr | Mar 2023 ₹2 Cr | Jun 2023 ₹9 Cr | Sep 2023 ₹7 Cr | Dec 2023 ₹1 Cr | Mar 2024 ₹13 Cr | Jun 2024 ₹7 Cr | Sep 2024 ₹129 Cr | Dec 2024 ₹3 Cr | Mar 2025 ₹-0 Cr | Jun 2025 ₹12 Cr | Sep 2025 ₹9 Cr | Dec 2025 ₹9 Cr | Mar 2026 ₹-4 Cr
- PYRAMID: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹8 Cr | Mar 2023 ₹8 Cr | Jun 2023 ₹8 Cr | Sep 2023 ₹8 Cr | Dec 2023 ₹6 Cr | Mar 2024 ₹7 Cr | Jun 2024 ₹8 Cr | Sep 2024 ₹6 Cr | Dec 2024 ₹7 Cr | Mar 2025 ₹7 Cr | Jun 2025 ₹8 Cr | Sep 2025 ₹6 Cr | Dec 2025 ₹5 Cr | Mar 2026 ₹10 Cr
- TIRUPATI: Jun 2021 — | Sep 2021 ₹4 Cr | Dec 2021 — | Mar 2022 ₹3 Cr | Jun 2022 — | Sep 2022 ₹4 Cr | Dec 2022 — | Mar 2023 ₹6 Cr | Jun 2023 — | Sep 2023 ₹11 Cr | Dec 2023 — | Mar 2024 ₹3 Cr | Jun 2024 — | Sep 2024 ₹7 Cr | Dec 2024 — | Mar 2025 ₹7 Cr | Jun 2025 — | Sep 2025 ₹2 Cr | Dec 2025 — | Mar 2026 ₹1 Cr

### 20-quarter Profit growth history
- ORICONENT: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 61% | Dec 2023 — | Mar 2024 452% | Jun 2024 -14% | Sep 2024 1,724% | Dec 2024 202% | Mar 2025 -100% | Jun 2025 66% | Sep 2025 -93% | Dec 2025 176% | Mar 2026 —
- PYRAMID: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 -23% | Mar 2024 -13% | Jun 2024 0.0% | Sep 2024 -25% | Dec 2024 17% | Mar 2025 0.0% | Jun 2025 0.0% | Sep 2025 0.0% | Dec 2025 -29% | Mar 2026 43%
- TIRUPATI: Jun 2021 — | Sep 2021 100% | Dec 2021 — | Mar 2022 0.0% | Jun 2022 — | Sep 2022 0.0% | Dec 2022 — | Mar 2023 100% | Jun 2023 — | Sep 2023 175% | Dec 2023 — | Mar 2024 -50% | Jun 2024 — | Sep 2024 -36% | Dec 2024 — | Mar 2025 133% | Jun 2025 — | Sep 2025 -71% | Dec 2025 — | Mar 2026 -86%

## Capacity Spending & Returns On It

What the numbers say: There is not enough comparable evidence to name a reliable capex leader.

Investor read: Use the CAPEX rank as a diligence queue. Verify commissioning, utilization, cash conversion and post-investment ROCE before treating spend as value creation.

This conclusion weakens if: CAPEX rises without higher utilization, operating cash flow or incremental returns.

Evidence: No comparable leader | Not enough peers | Not enough history | 0/3 companies · 0 observations

Definition: CAPEX is cash spent on property, plant, equipment and other reported capital assets. CAPEX intensity divides that spend by revenue; high intensity is a reinvestment signal, not proof that the reinvestment will earn attractive returns.

### CAPEX — largest spenders

### CAPEX intensity — highest reinvestment intensity

### 20-quarter CAPEX history

### 20-quarter CAPEX intensity history

## Debt Load & Balance-Sheet Headroom

What the numbers say: Oricon Enterprises Ltd has the clearest covered balance-sheet capacity with ₹145 crore net cash and gross debt of ₹3 crore. Absolute debt alone does not identify the strongest balance sheet because company scale differs; net debt and debt-to-equity carry more information.

Investor read: Prioritize net-cash capacity and leverage relative to operating scale, not the smallest absolute rupee debt.

This conclusion weakens if: Net debt rises faster than revenue and profit for two consecutive reported periods.

Evidence: Oricon Enterprises Ltd · ₹3 crore | 97.1% versus #2 · Shree Tirupati Balajee FIBC Ltd | 7/8 recent comparable periods | 3/3 companies · 32 observations

Definition: Gross debt shows contractual borrowings. Net debt subtracts reported cash; a negative value means net cash. Lower debt can create capacity, but should be read against the scale and capital intensity of the business.

### Gross debt — lowest gross debt
1. Oricon Enterprises Ltd (ORICONENT): ₹3 Cr
2. Shree Tirupati Balajee FIBC Ltd (TIRUPATI): ₹105 Cr
3. Pyramid Technoplast Ltd (PYRAMID): ₹184 Cr

### Net debt — lowest net debt
1. Oricon Enterprises Ltd (ORICONENT): ₹-145 Cr

### 20-quarter Gross debt history
- ORICONENT: Jun 2021 ₹214 Cr | Sep 2021 ₹242 Cr | Dec 2021 ₹242 Cr | Mar 2022 ₹167 Cr | Jun 2022 ₹167 Cr | Sep 2022 ₹72 Cr | Dec 2022 ₹72 Cr | Mar 2023 ₹89 Cr | Jun 2023 ₹89 Cr | Sep 2023 ₹107 Cr | Dec 2023 ₹107 Cr | Mar 2024 ₹113 Cr | Jun 2024 ₹113 Cr | Sep 2024 ₹17 Cr | Dec 2024 ₹17 Cr | Mar 2025 ₹11 Cr | Jun 2025 ₹11 Cr | Sep 2025 ₹11 Cr | Dec 2025 ₹11 Cr | Mar 2026 ₹3 Cr
- PYRAMID: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 ₹66 Cr | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 ₹56 Cr | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 ₹20 Cr | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 ₹55 Cr | Jun 2025 — | Sep 2025 ₹140 Cr | Dec 2025 — | Mar 2026 ₹184 Cr
- TIRUPATI: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 ₹48 Cr | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 ₹49 Cr | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 ₹74 Cr | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 ₹90 Cr | Jun 2025 — | Sep 2025 ₹97 Cr | Dec 2025 — | Mar 2026 ₹105 Cr

### 20-quarter Net debt history
- ORICONENT: Jun 2021 ₹26 Cr | Sep 2021 ₹-136 Cr | Dec 2021 ₹-136 Cr | Mar 2022 ₹-70 Cr | Jun 2022 ₹-61 Cr | Sep 2022 ₹-95 Cr | Dec 2022 ₹-95 Cr | Mar 2023 ₹4 Cr | Jun 2023 ₹2 Cr | Sep 2023 ₹3 Cr | Dec 2023 ₹3 Cr | Mar 2024 ₹27 Cr | Jun 2024 ₹30 Cr | Sep 2024 ₹-212 Cr | Dec 2024 ₹-212 Cr | Mar 2025 ₹-77 Cr | Jun 2025 ₹-97 Cr | Sep 2025 ₹-113 Cr | Dec 2025 ₹-113 Cr | Mar 2026 ₹-145 Cr

## Return On Capital Employed

What the numbers say: Pyramid Technoplast Ltd leads ROCE at 12.3%, 5.5 percentage points above Shree Tirupati Balajee FIBC Ltd. Pyramid Technoplast Ltd has the strongest latest improvement at -2 percentage points. Read the leader beside the density of its reported history: a sparse high return is a candidate; a repeated high return is evidence of durability.

Investor read: Pyramid Technoplast Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current roce change signal.

Evidence: Pyramid Technoplast Ltd · 12.3% | 80.4% versus #2 · Shree Tirupati Balajee FIBC Ltd | Not enough history | 3/3 companies · 16 observations

Definition: ROCE asks how much operating return the business earns on the capital employed. Direction matters, but a single exceptional year should not be mistaken for durability.

### ROCE — highest
1. Pyramid Technoplast Ltd (PYRAMID): 12%
2. Shree Tirupati Balajee FIBC Ltd (TIRUPATI): 6.8%
3. Oricon Enterprises Ltd (ORICONENT): 2.1%

### ROCE change — fastest improvers
1. Pyramid Technoplast Ltd (PYRAMID): −2.0 pp
2. Oricon Enterprises Ltd (ORICONENT): −2.1 pp
3. Shree Tirupati Balajee FIBC Ltd (TIRUPATI): −8.0 pp

### 20-quarter ROCE history
- ORICONENT: Jun 2021 — | Sep 2021 -0.9% | Dec 2021 — | Mar 2022 -0.1% | Jun 2022 — | Sep 2022 2.5% | Dec 2022 — | Mar 2023 -3.5% | Jun 2023 1.4% | Sep 2023 -3.9% | Dec 2023 2.2% | Mar 2024 -2.7% | Jun 2024 2.5% | Sep 2024 -4.2% | Dec 2024 12% | Mar 2025 -2.4% | Jun 2025 12% | Sep 2025 -2.3% | Dec 2025 3.2% | Mar 2026 -4.5%

### 20-quarter ROCE change history
- ORICONENT: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +3.4 pp | Dec 2022 — | Mar 2023 −3.4 pp | Jun 2023 — | Sep 2023 −6.4 pp | Dec 2023 — | Mar 2024 +0.8 pp | Jun 2024 +1.1 pp | Sep 2024 −0.3 pp | Dec 2024 +9.6 pp | Mar 2025 +0.3 pp | Jun 2025 +9.4 pp | Sep 2025 +1.9 pp | Dec 2025 −8.6 pp | Mar 2026 −2.1 pp

## Valuation Against Growth & Quality

What the numbers say: There is not enough comparable evidence to name a reliable guarded peg leader.

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/e signal.

Evidence: No comparable leader | Not enough peers | Not enough history | 0/3 companies · 0 observations

Definition: PEG is shown only when earnings are positive and three-year EPS growth is between 5% and 60%. It is recomputed consistently as the trailing P/E divided by that growth rate — reported earnings, never an expected-earnings multiple. On Indian companies it is shown only where the two data sources reconciled. A missing PEG is more honest than a low-base fiction.

### Guarded PEG — lowest PEG

### P/E — lowest P/E
1. Pyramid Technoplast Ltd (PYRAMID): 21.0
2. Oricon Enterprises Ltd (ORICONENT): 56.1
3. Shree Tirupati Balajee FIBC Ltd (TIRUPATI): 182.0

### 20-quarter Guarded PEG history

### 20-quarter P/E history
- ORICONENT: Jun 2021 2.9 | Sep 2021 — | Dec 2021 5.3 | Mar 2022 3.9 | Jun 2022 31.6 | Sep 2022 19.1 | Dec 2022 11.4 | Mar 2023 11.0 | Jun 2023 108.7 | Sep 2023 105.7 | Dec 2023 27.5 | Mar 2024 19.0 | Jun 2024 122.6 | Sep 2024 125.0 | Dec 2024 4.0 | Mar 2025 — | Jun 2025 4.9 | Sep 2025 45.5 | Dec 2025 39.2 | Mar 2026 35.2
- PYRAMID: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 17.6 | Dec 2023 19.8 | Mar 2024 16.1 | Jun 2024 20.4 | Sep 2024 21.7 | Dec 2024 28.2 | Mar 2025 18.4 | Jun 2025 24.9 | Sep 2025 21.8 | Dec 2025 22.1 | Mar 2026 20.4
- TIRUPATI: Jun 2021 — | Sep 2021 11.9 | Dec 2021 — | Mar 2022 11.5 | Jun 2022 — | Sep 2022 16.5 | Dec 2022 — | Mar 2023 24.0 | Jun 2023 — | Sep 2023 36.0 | Dec 2023 — | Mar 2024 54.2 | Jun 2024 — | Sep 2024 54.2 | Dec 2024 — | Mar 2025 51.4 | Jun 2025 — | Sep 2025 40.6 | Dec 2025 — | Mar 2026 47.9

## Enterprise Value & Book Value

What the numbers say: Pyramid Technoplast Ltd leads ev/ebitda at 12.8×; Oricon Enterprises Ltd leads p/bv at 0.75×.

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/bv signal.

Evidence: Pyramid Technoplast Ltd · 12.8× | 42.1% versus #2 · Shree Tirupati Balajee FIBC Ltd | 0/8 recent comparable periods | 3/3 companies · 41 observations

Definition: EV/EBITDA includes debt in enterprise value and is useful across different capital structures. P/BV prices the company against its own book. Both are market multiples on reported figures, not intrinsic-value estimates and not forecasts.

### EV/EBITDA — lowest EV/EBITDA
1. Pyramid Technoplast Ltd (PYRAMID): 12.8
2. Shree Tirupati Balajee FIBC Ltd (TIRUPATI): 22.1
3. Oricon Enterprises Ltd (ORICONENT): 22.2

### P/BV — lowest P/BV
1. Oricon Enterprises Ltd (ORICONENT): 0.8
2. Pyramid Technoplast Ltd (PYRAMID): 2.2
3. Shree Tirupati Balajee FIBC Ltd (TIRUPATI): 5.4

### 20-quarter EV/EBITDA history
- ORICONENT: Jun 2021 21.8 | Sep 2021 14.7 | Dec 2021 18.0 | Mar 2022 15.6 | Jun 2022 9.8 | Sep 2022 7.3 | Dec 2022 5.4 | Mar 2023 6.2 | Jun 2023 15.0 | Sep 2023 15.4 | Dec 2023 35.5 | Mar 2024 48.0 | Jun 2024 29.0 | Sep 2024 29.5 | Dec 2024 89.6 | Mar 2025 47.8 | Jun 2025 62.0 | Sep 2025 26.7 | Dec 2025 26.4 | Mar 2026 22.2
- PYRAMID: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 13.6 | Dec 2023 13.5 | Mar 2024 10.3 | Jun 2024 13.8 | Sep 2024 13.3 | Dec 2024 17.0 | Mar 2025 11.1 | Jun 2025 14.5 | Sep 2025 13.2 | Dec 2025 14.6 | Mar 2026 12.8
- TIRUPATI: Jun 2021 — | Sep 2021 9.6 | Dec 2021 — | Mar 2022 9.5 | Jun 2022 — | Sep 2022 12.8 | Dec 2022 — | Mar 2023 17.1 | Jun 2023 — | Sep 2023 23.8 | Dec 2023 — | Mar 2024 34.6 | Jun 2024 — | Sep 2024 32.8 | Dec 2024 — | Mar 2025 31.9 | Jun 2025 — | Sep 2025 22.9 | Dec 2025 — | Mar 2026 22.1

### 20-quarter P/BV history
- ORICONENT: Jun 2021 0.5 | Sep 2021 0.5 | Dec 2021 0.6 | Mar 2022 0.5 | Jun 2022 0.4 | Sep 2022 0.4 | Dec 2022 0.4 | Mar 2023 0.2 | Jun 2023 0.3 | Sep 2023 0.4 | Dec 2023 0.5 | Mar 2024 0.5 | Jun 2024 0.6 | Sep 2024 0.5 | Dec 2024 0.5 | Mar 2025 0.5 | Jun 2025 0.6 | Sep 2025 0.7 | Dec 2025 0.7 | Mar 2026 0.8
- PYRAMID: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 3.4 | Mar 2024 2.6 | Jun 2024 2.8 | Sep 2024 2.9 | Dec 2024 3.2 | Mar 2025 2.1 | Jun 2025 3.0 | Sep 2025 2.4 | Dec 2025 2.3 | Mar 2026 2.0
- TIRUPATI: Jun 2021 — | Sep 2021 1.0 | Dec 2021 — | Mar 2022 1.5 | Jun 2022 — | Sep 2022 2.1 | Dec 2022 — | Mar 2023 3.0 | Jun 2023 — | Sep 2023 5.1 | Dec 2023 — | Mar 2024 6.5 | Jun 2024 — | Sep 2024 9.9 | Dec 2024 — | Mar 2025 8.6 | Jun 2025 — | Sep 2025 7.5 | Dec 2025 — | Mar 2026 4.6

## Market action

Oricon Enterprises Ltd has the strongest one-year price move in Packaging & Containers at +33.2%. It also leads on Mansfield relative strength against NIFTY at -0.4%. 0 of 3 covered companies are above zero on that measure. Every line covers 313 weekly closes through 2026-07-17.

### Strongest one-year price performers
1. Oricon Enterprises Ltd (ORICONENT): 33%
2. Shree Tirupati Balajee FIBC Ltd (TIRUPATI): 4.1%
3. Pyramid Technoplast Ltd (PYRAMID): -7.7%

### Strongest relative strength versus NIFTY 500
1. Oricon Enterprises Ltd (ORICONENT): -0.4%
2. Pyramid Technoplast Ltd (PYRAMID): -1.1%
3. Shree Tirupati Balajee FIBC Ltd (TIRUPATI): -11%

## What can make this comparison misleading?
- A high growth rate can be a low-base artefact. The page keeps level and change separate for that reason.
- A high ROCE can be temporary or flattered by a small capital base. Read it beside margin, cash conversion and reinvestment.
- The 4-Factor Sector Score ranks research priority, not portfolio action. Management quality, catalysts and risks need equally fresh evidence before capital is deployed.
- An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.
- 1 company draws at least one figure from a second data feed with too little overlapping history to cross-check against the primary source; it is marked unverified wherever that figure appears.
- Thin comparisons: Capital expenditure, Valuation have fewer than three usable current readings.

## Every company
- Oricon Enterprises Ltd (ORICONENT) — market value ₹864 Cr; latest fundamentals Mar 2026; includes UNVERIFIED second-feed figures
- Pyramid Technoplast Ltd (PYRAMID) — market value ₹604 Cr; latest fundamentals Mar 2026
- Shree Tirupati Balajee FIBC Ltd (TIRUPATI) — market value ₹517 Cr; latest fundamentals Mar 2026

## Source standing of each company

Cross-checked: 0. Unverified: 3. Withheld: 0. Graded companies: 3.

1 of 3 companies draws at least one figure from a second data feed that could not be cross-checked against the primary source, because the two do not share enough reported history to compare. Those figures are marked unverified wherever they appear.

- UNVERIFIED | ORICONENT | Oricon Enterprises Ltd | too little overlapping reported history to cross-check the second feed

## Methodology and freshness

Fundamentals through Mar 2026; prices through 2026-07-24.
Up to 20 quarters per company. Reported history is normalized to Indian rupees crore. Missing values are not interpolated. Derived metrics are calculated only when their inputs are comparable.

## Frequently asked questions

### What is the Nifty Packaging & Containers index?

The Nifty Packaging & Containers index tracks India's listed Packaging & Containers companies as a single basket. This page follows the same 3 companies and equal-weights them, so every company's weekly return counts once whatever it is worth, and the reading belongs to the Packaging & Containers sector rather than to its largest constituent. Figures are as of Mar 2026.

### Which are the best Packaging & Containers stocks in India?

Ranked by this page's four-factor score, Pyramid Technoplast Ltd places first among 3 listed Packaging & Containers companies, followed by Shree Tirupati Balajee FIBC Ltd. That is a ranking of published data — earnings, quality, valuation and market behaviour as of Mar 2026 — and not a recommendation; Sector Alpha is not registered with SEBI as an investment adviser.

### How many Packaging & Containers stocks are listed in India?

This comparison covers 3 listed Packaging & Containers companies in India, each above the size floor the site applies, with 20 quarters of reported figures per company where the filings exist. The full ranked list is on this page, as of Mar 2026.

### Which Packaging & Containers company is the biggest?

Pyramid Technoplast Ltd is the largest, with trailing-twelve-month revenue of ₹681 crore, ahead of Shree Tirupati Balajee FIBC Ltd at ₹409 crore. That covers 3 of 3 companies with comparable reporting through Mar 2026.

### Which Packaging & Containers company is growing fastest?

Shree Tirupati Balajee FIBC Ltd has the fastest revenue growth at 21.4% year on year, across 3 of 3 comparable companies. Fast growth off a small base is not the same as proven scale — check whether the rate holds across several quarters on the chart above before treating it as a trend.

### Which Packaging & Containers company has the best profit margins?

Pyramid Technoplast Ltd has the highest operating margin at 10%, from 3 of 3 comparable companies. Pyramid Technoplast Ltd shows the biggest recent improvement, at +3 percentage points. A high margin matters most when it is holding or rising, not when it is peaking.

### Which Packaging & Containers company makes the most profit?

Pyramid Technoplast Ltd earns the most, at ₹29 crore of trailing-twelve-month net profit, from 3 of 3 comparable companies. Pyramid Technoplast Ltd has the fastest profit growth at 3.6%, though growth off a small or recovering profit base overstates how much has actually changed.

### Which Packaging & Containers company earns the highest return on capital?

Pyramid Technoplast Ltd leads on return on capital employed at 12.3%, across 3 of 3 companies. Read it beside the length of its reported history: a high return that repeats for years is evidence of a durable business, while a single high reading can be a small capital base or one good year.

### Which Packaging & Containers company has the strongest balance sheet?

Oricon Enterprises Ltd carries the lowest comparable gross debt at ₹3 crore, from 3 of 3 companies. Absolute rupee debt alone does not settle it, because company scale differs — net debt and debt-to-equity in the chart above carry more information, and a very low-debt balance sheet can also mean under-investment.

### Which Packaging & Containers stock has the strongest price momentum?

Oricon Enterprises Ltd has the strongest relative strength against NIFTY 500. Relative strength answers last, after growth, quality and valuation: price can move well before the fundamentals confirm it, and sometimes without them confirming at all.

### Which Packaging & Containers company scores highest for research priority?

Pyramid Technoplast Ltd scores 46.8 out of 100 with 84% evidence confidence, from 17.7 points on growth and earnings, 10.8 on capital efficiency, 10.8 on valuation and 7.5 on relative strength. This ranks what deserves work next. It is not a buy recommendation, and management quality, catalysts and risk still need separate research.

### How many Packaging & Containers companies does this comparison cover, and over what period?

It compares 3 listed companies over up to 20 reported quarters of fundamentals and 10 fiscal years of capital allocation, ending Mar 2026, plus weekly price and relative-strength history. Membership is the full sector list — nothing is dropped for having thin data.

### What is the total market cap of the Packaging & Containers sector?

The 3 Packaging & Containers companies on this page carry ₹1,985 crore of combined market value. Oricon Enterprises Ltd is the largest at ₹864 crore, about 44% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-07-26.

### How is the Packaging & Containers sector performing?

0 of the 3 covered Packaging & Containers companies are beating NIFTY 500 on Mansfield relative strength. A 52-week sector-versus-index comparison is not available from the current market series for this sector, so it is not quoted. Readings are as of 2026-07-26.

### Why are some values on this page blank?

A blank means that company did not report a comparable figure for that period, so nothing is shown. Missing observations are never interpolated, carried forward, or replaced with a similar-looking accounting line, and a company with missing evidence has its research score pulled toward neutral rather than being scored as bad.

### Is this investment advice?

No. Every figure here is a deterministic calculation from reported company filings and market data, published for research. It contains no recommendation to buy or sell any security, does not account for your circumstances, and is not a substitute for advice from a licensed adviser.

Narrative sector analysis: https://www.sectoralpha.in/sectors/packaging-containers