As a proof? No, it's is not correct.
The form of induction is this:
First you prove the base case. Here you have stated it but not proved it.
Then you assume that the statement is true for some $k$ and using that assumption (the "inductive hypothesis") prove that it is also true for $k+1$.You haven't done this either.
It seems likely that the intention was for you to run induction on values of $p$. It's not clear what foundational truths you are relying on here but your use of $S()$ suggests that you can rely on $S(x) = x+1$ and $S(x)>x$.
Then the base case for example might need two cases: $y=S(x)$ and $y>S(x)$.
The inductive step could use associativity, $x+(p+1) = (x+p)+1$.
Hope this is enough to get you on track.