Top 10 Packaging Stocks in India 2025

Introduction

Whenever I sit down to study the market, there’s one sector I keep coming back to: packaging. It’s not flashy like tech or banking, but it quietly powers almost every industry around us. Think about it—whether you order food online, buy biscuits from a store, or receive an e-commerce parcel, packaging is the unsung hero making it all possible.

As an analyst at Samco Securities, I’ve spent countless hours digging into different sectors. And if there’s one theme that has consistently stood out in India’s growth journey, it’s the rise of packaging companies. The more India consumes, the more packaging firms thrive. And right now, as we look ahead to 2025, this sector is buzzing with opportunities.

So, in this article, I’ll walk you through 10 top packaging stocks in India 2025. I’m not here to give stock tips or say “buy this, sell that.” Instead, I’ll share my perspective, highlight company details, and explain what makes each stock interesting. By the end, you’ll have a clear framework to evaluate packaging stocks yourself.

The Bigger Picture: Why Packaging Stocks Matter

Before diving into the stocks, let me pause and explain why I even pay attention to packaging.

India is in the middle of a consumption boom. FMCG brands are growing, e-commerce is expanding, and food delivery apps are rewriting how we eat. All of this requires one thing: safe, durable, and innovative packaging solutions.

A few big reasons why I believe packaging stocks deserve attention:

• E-commerce growth → every parcel needs durable, cost-effective packaging.

• FMCG demand → from toothpaste to chocolates, every product needs a pack.

• Food delivery + retail shift → higher demand for flexible and eco-friendly packaging.

• Sustainability push → companies focusing on green packaging may see faster growth.

That’s why packaging firms in India have been on my radar. Now, let’s put numbers to this story.

Top 10 Packaging Stocks in India 2025

Here’s a snapshot table of some of the most talked-about packaging companies in India right now. These details—market cap, financial metrics, growth ratios—help me understand where each company stands.

This table may look overwhelming at first, but don’t worry—I’ll break it down stock by stock. The goal is simple: understand what makes each company stand out, without getting lost in jargon.

How I Read This Data Before Picking Stocks

Whenever I analyze a stock, I don’t rush to the price chart. Instead, I start with fundamentals. In packaging, a few metrics matter more than others:

• Market Cap → tells me the size of the company and how stable it might be.

• PE Ratio (Price-to-Earnings) → a quick check on valuation.

• ROE & ROCE → return ratios that show how efficiently the business uses capital.

• Debt Levels → packaging is capital intensive, so I always check if debt is manageable.

• Promoter Shareholding → high promoter skin in the game often signals confidence.

This is the lens I’ll use as we go stock by stock. Think of it as me walking you through my own research notebook.

AGI Greenpac Ltd – A Leader in Premium Packaging

When I think of AGI Greenpac, the first word that comes to mind is resilience. With a market cap of over ₹6,000 crore, AGI has positioned itself as a premium player in the packaging space. The company caters to glass packaging—something that feels old-school, but is quietly becoming more relevant with the shift toward sustainable materials.

Looking at its numbers, AGI Greenpac shows a healthy ROE (17.86%) and ROCE (19.16%), which tells me the company is efficient at generating returns on capital. Debt-to-equity is low at 0.26, which is reassuring in a capital-heavy sector. For me, this balance of growth and stability is what makes AGI stand out.

What excites me is its strategic positioning. Glass packaging is not just about bottles—it’s about premium perception, sustainability, and long-term contracts with FMCG and pharma companies. If you’ve ever picked up a premium juice bottle or a high-end cosmetic pack, chances are it came from companies like AGI.

Anuroop Packaging Ltd – Small Cap with Niche Strength

Now let’s switch gears from a big player to a tiny one. Anuroop Packaging, with a market cap under ₹20 crore, is what I call a “microcap story.” It’s risky, it’s volatile, but it has its own niche.

The company works in corrugated box packaging—a segment that sounds boring but forms the backbone of logistics and FMCG supply chains. Think about the plain brown boxes your online orders arrive in—that’s where players like Anuroop come in.

Its financials are modest. A PE ratio of 4.21 looks attractive on paper, but I don’t jump to conclusions because small caps often face inconsistent earnings. Still, its ROE and ROCE around 17–18% are surprisingly strong.

What keeps me cautious is liquidity risk. With promoter holding at around 48% and institutions almost absent, the float is small. This means the stock can swing wildly. But at the same time, for investors who enjoy spotting under-the-radar names, Anuroop Packaging is worth tracking.

Arrow Greentech Ltd – Innovating in Green Solutions

If there’s one name in this list that makes me think of the future, it’s Arrow Greentech. Why? Because they are all about biodegradable and eco-friendly packaging solutions. And let’s be honest—this is where the world is headed.

The company has a market cap of ~₹827 crore and trades at a PE of 15.36. At first glance, that looks reasonable, especially for a company with a strong eco-friendly narrative. The ROE (26%) and ROCE (36%) are standout figures. These numbers scream efficiency.

What I like most about Arrow Greentech is its focus on innovation. From water-soluble films to specialty coatings, they’re targeting industries that want sustainable alternatives. In a country where plastic bans and green norms are becoming stricter, this positioning could be a big tailwind.

Of course, small companies focusing on innovation face execution risks. Scaling green solutions is never easy. But as someone who tracks packaging trends closely, I see Arrow as a stock that represents where the industry might be in 10 years.

B&A Packaging India Ltd – Specialty Focus in Cartons & Paper

B&A Packaging is one of those quiet mid-sized firms that doesn’t make headlines often but plays an important role in the supply chain. With a market cap of just over ₹110 crore, it’s small compared to giants, but its specialization in cartons and paper-based packaging gives it a steady demand base.

What I immediately notice is its return ratios. An ROE of 12.56% and ROCE of 17.55% suggest decent efficiency, while debt is very low (0.02). That low leverage always makes me sit up—because it means the business is not overburdened.

Paper-based packaging is also gaining attention due to the anti-plastic movement. If you’ve noticed how many FMCG brands are shifting to cartons, paper packs, and recyclable formats, B&A is positioned right there.

Now, as always with small caps, liquidity is an issue. But for me, B&A Packaging is like a specialty supplier that doesn’t make noise but quietly grows alongside FMCG consumption.

EPL Ltd – Large Cap Consistency in Packaging

When it comes to stability in packaging, EPL Ltd is the first name I think of. With a market cap above ₹7,300 crore, EPL is a large-cap packaging leader with a strong global presence.

Its PE ratio of 18.66 may look slightly above peers, but considering EPL’s track record, I see it as justified. ROE at 10.48% and ROCE at 13.58% suggest steady efficiency, while debt levels are manageable. One of EPL’s biggest strengths is its ability to serve multinational FMCG giants with high-quality, consistent packaging solutions.

EPL operates in tubes and specialty packaging, which you’ll find in toothpaste, cosmetics, and pharma. These are everyday essentials—demand here rarely collapses. That’s what makes EPL more defensive compared to smaller, cyclical packaging firms.

For investors who prefer consistency over volatility, EPL is often seen as one of the best packaging stocks in India.

GKP Printing & Packaging Ltd – Microcap Opportunity

GKP Printing & Packaging is another microcap, with a market cap of just ₹13 crore. Companies at this size are always volatile, but sometimes they capture niche opportunities.

The company mainly deals with printing and corrugated packaging solutions. On paper, the PE of 17.86 looks fair, but what catches my eye is the negative ROE (-7.91%). That means profitability is still a challenge.

What worries me more is the volatility in quarterly numbers. Sales growth has been inconsistent, and profitability swings widely. In microcaps like this, execution risk is very high. However, promoters holding above 50% does indicate skin in the game.

I see GKP as a classic example of why investors must tread carefully with small packaging stocks. The opportunity exists, but the risks are equally high.

Huhtamaki India Ltd – Global Player with Indian Roots

Huhtamaki is a familiar name worldwide in flexible packaging, and its Indian arm is an important player here. With a market cap of over ₹1,600 crore, Huhtamaki India brings the advantage of global expertise combined with a strong domestic client base.

The PE ratio of 21.56 is on the higher side compared to peers, but ROE of 7.54% and ROCE of 10.21% suggest stability. For me, what makes Huhtamaki attractive is its clientele—large FMCG brands that rely on consistency and innovation.

Flexible packaging is a critical space, especially with the growth of snacks, ready-to-eat, and frozen foods in India. Huhtamaki has the infrastructure to scale and adapt.

For long-term investors who want exposure to packaging with the backing of a multinational, Huhtamaki India often comes across as a reliable choice.

Kaira Can Company Ltd – Niche Metal Packaging

Kaira Can is not your usual packaging firm—it specializes in metal packaging, particularly tin cans for dairy and beverages. With a market cap of just ₹158 crore, it’s small, but its niche gives it relevance.

The PE ratio is high at 38.92, but that’s often the case with specialty players. ROE of 4.37% and ROCE of 6% are on the lower side, which means efficiency is limited. Still, what I like is the niche factor—metal packaging has few players, and demand is sticky from dairies and beverage companies.

If you’ve ever picked up a tin of condensed milk or a can of dairy-based products, you’ve likely interacted with Kaira Can’s work. This is a reminder that packaging is not just plastic and paper—it’s a diverse universe.

Oricon Enterprises Ltd – Diversified Packaging Approach

Oricon Enterprises is an interesting mid-sized packaging company with a market cap of nearly ₹800 crore. Unlike pure-play packaging firms, Oricon has a diversified model, with packaging as one of its key arms.

Its PE ratio of 5.51 suggests undervaluation, but ROE of 0.05% and negative profitability raise concerns. Still, what makes Oricon unique is its diversified exposure, which reduces risk from overdependence on packaging alone.

For me, Oricon is a reminder that some companies in this sector are hybrids. They’re not pure packaging players, but they have meaningful exposure to the industry.

Panther Industrial Products Ltd – Ultra Small Cap Story

Panther Industrial Products is a microcap with a market cap below ₹10 crore. At this size, stocks are extremely illiquid and high risk. But they also represent the entrepreneurial side of India’s packaging industry.

With negligible institutional holding and highly volatile financials, Panther is not for conservative investors. Its PE ratio is 0, suggesting losses. ROE and ROCE are weak.

Still, I include Panther here because it highlights how packaging is not just a space for big giants—there are small firms scattered across India trying to make their mark.

Trends Shaping Packaging Stocks in India 2025

Now that we’ve walked through the companies, let’s step back. What are the big themes shaping packaging stocks in India this year?

• Sustainability is non-negotiable → eco-friendly, recyclable, and biodegradable packaging is becoming the norm.

• E-commerce and quick commerce growth → from Flipkart to Blinkit, packaging demand is exploding.

• Premium FMCG demand → high-quality packaging for cosmetics, food, and beverages is growing.

• Export opportunities → Indian packaging firms are tapping global clients.

For me, these themes make packaging a structural growth story, not just a cyclical one.

How I Personally Evaluate Packaging Stocks Before Investing

Here’s my personal checklist when I look at packaging stocks:

• Market cap growth → Is the company consistently compounding?

• Debt levels → High debt can cripple small packaging firms.

• ROE & ROCE → Anything above 15% consistently catches my eye.

• Valuation vs. peers → I don’t just look at PE in isolation. I compare with industry averages.

• Promoter holding → High skin in the game usually signals trust.

• Client base → Companies supplying to top FMCG brands usually enjoy steady demand.

This framework helps me cut through noise and focus on fundamentals.

Risks to Keep in Mind While Looking at Packaging Stocks

Of course, no story is one-sided. Packaging stocks come with their own set of risks:

• Raw material costs → paper, plastic, and metal price volatility hits margins.

• Regulatory changes → sudden bans on plastics or sustainability mandates can disrupt operations.

• Liquidity risks → especially in microcaps, where volumes are tiny.

• Global competition → larger global packaging firms may challenge Indian players.

As an investor, I always balance opportunity with risk before forming an opinion.

Final Thoughts: Packaging Stocks as a 2025 Opportunity

If I had to sum it up, I’d say packaging is one of those backbone sectors—not glamorous, but essential. Every biscuit, every shampoo bottle, every online delivery is powered by packaging companies.

The 10 stocks we discussed—ranging from giants like EPL and AGI Greenpac to microcaps like Anuroop and Panther—show just how diverse this sector is. There are steady compounders, niche innovators, and high-risk small caps, all coexisting in this space.

As we move into 2025, my view is simple: packaging stocks in India will continue to benefit from consumption growth, e-commerce expansion, and sustainability trends. For investors, this is a sector worth studying closely—not for quick trades, but for understanding long-term themes.

And remember, I’m not giving recommendations here. My goal is to help you see the bigger picture, decode the fundamentals, and give you the confidence to analyze packaging stocks for yourself.

So the next time you unwrap a product, pause for a second. Behind that pack is a company, and maybe even a stock, quietly shaping India’s growth story.