International Journal of Scientific Research and Engineering Development

This study examines the financial health of select Indian packaging companies—TCPL Packaging, Cosmo First, Huhtamaki India, Nahar Poly Films, and Polyplex Corporation—using a comprehensive ratio-based analysis over the period 2019–20 to 2023–24. The research evaluates liquidity, profitability, leverage, efficiency, and return measures through key financial ratios such as Current Ratio, Quick Ratio, Inventory Turnover Ratio, PBIT Margin, Net Profit Margin, Return on Net Worth, Return on Capital Employed, Return on Assets, Debt–Equity Ratio, and Asset Turnover Ratio. Statistical tools including mean, standard deviation, and linear growth rate were applied to assess performance consistency and trends. The findings reveal mixed financial performance across firms. Polyplex Corporation emerged as the strongest performer with superior profitability, efficient asset utilization, and consistent growth despite volatility. TCPL Packaging demonstrated stable liquidity and moderate returns with gradual deleveraging. In contrast, Huhtamaki India and Nahar Poly Films experienced significant fluctuations and declining trends in profitability and liquidity. Cosmo First showed moderate but gradually weakening performance. Overall, the study highlights varied financial strategies and operational efficiencies within the Indian packaging sector, emphasizing the importance of balanced capital structure, efficient asset management, and sustained profitability for long-term financial stability.

Dr.M.Jayanthi, Dr.R.Swarnalakshmi, Dr.R.Srikala, "A Ratio-Based Analysis of Financial Health of Select Packaging Companies in India" International Journal of Scientific Research and Engineering Development, V9(2): Page(158-169) Mar-Apr 2026. ISSN: 2581-7175. www.ijsred.com. Published by Scientific and Academic Research Publishing.