Commercial Syn Bags Limited

About

Commercial Syn Bags Limited, together with its subsidiary, Comsyn India Private Limited, engages in the manufacturing and exporting of various packaging solutions in India and internationally. It operates through two segments, Manufacturing and Trading. The company offers flexible intermediate bulk container (FIBC) comprising tunnel lift, builder, circular, skip, baffle, UN, silo, single-loop, two-loop, BOPP laminated, type C, and ventilated FIBC bags; HDPE/PP bags; HDPE/PP fabric; and tarpaulin under the TIGER TARPAULIN brand name. It also provides ground cover, pond liners, mulch films, laminates, vermi beds, and flexible pipes under the COMSYN SWAJAL brand name. In addition, the company offers geotextiles, ground cover, nets, and other technical textiles products, as well as various other products under the COMSYN brand name. Further, it provides container, planter, and waste bags; geomembrane and apron covers; and courier parcel large delivery and shopping bags. Additionally, the company trades in granules. It serves the construction, agriculture, asbestos waste removal, bulk packaging, household waste removal, human safety, gardens, green houses, shelter, grain, pulses, animal food, seeds, fertilizers, chemicals, and food products. The company also exports its products to the European Union, the United Kingdom, the United States, and Latin America. Commercial Syn Bags Limited was incorporated in 1984 and is based in Indore, India.

Key Metrics

as of Sep 2026

Market Cap1,215 Cr

P/E40.90

Div Yield0.13 %

Book Value₹44.00

52w High₹315.00

52w Low₹136.00

Face Value₹10.00

Quarterly Results

Rs. Crores · hover row for definition

Metric	Jun 2026	Mar 2026	Dec 2025	Sep 2025	Jun 2025	Mar 2025	Dec 2024	Sep 2024	Jun 2024	Mar 2024	Dec 2023	Sep 2023	Jun 2023
Sales	108.30	100.18	96.99	97.44	89.38	97.02	83.84	85.63	75.12	69.12	69.54	67.12	79.78
Expenses	93.76	88.92	85.66	85.37	79.24	86.99	75.88	79.11	69.46	61.41	66.27	60.91	73.82
Operating Profit	14.54	11.26	11.33	12.07	10.14	10.03	7.96	6.52	5.66	7.71	3.27	6.21	5.96
OPM %	13.43	11.24	11.68	12.39	11.34	10.34	9.49	7.61	7.53	11.15	4.70	9.25	7.47
Other Income	1.34	2.20	0.70	0.95	0.61	2.45	0.75	0.28	0.51	1.50	0.89	0.55	0.26
Depreciation	2.67	2.44	2.44	2.37	2.40	0.43	2.34	2.36	2.68	2.62	2.45	2.38	2.20
Interest	1.84	2.14	2.05	2.01	2.26	2.16	2.54	1.92	2.14	2.03	1.48	1.86	1.44
Profit before tax	11.37	8.88	7.54	8.64	6.09	9.89	3.83	2.52	1.35	4.56	0.23	2.52	2.58
Tax %	14.78	19.93	17.11	1.16	17.08	27.00	14.62	4.76	25.93	37.72	73.91	29.37	0.39
Net Profit	9.68	7.11	6.25	8.54	5.06	7.23	3.27	2.40	1.00	2.84	0.05	1.78	2.57
EPS in Rs	2.40	1.76	1.56	2.14	1.27	1.81	0.82	0.60	0.25	0.71	0.01	0.45	0.64

Profit & Loss

Annual · Rs. Crores

Metric	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017	Mar 2016	Mar 2015
Sales	384.00	341.00	286.00	291.00	322.00	214.00	191.00	207.00	161.00	119.00	117.00	112.00
Expenses	339.00	311.00	262.00	271.00	291.00	187.00	167.00	181.00	145.00	107.00	103.00	100.00
Operating Profit	45.00	30.00	23.00	20.00	30.00	26.00	24.00	26.00	15.00	12.00	14.00	13.00
OPM %	12.00	9.00	8.00	7.00	9.00	12.00	12.00	12.00	10.00	10.00	12.00	11.00
Other Income	4.00	4.00	3.00	3.00	4.00	0.00	2.00	1.00	0.00	1.00	1.00	1.00
Interest	8.00	9.00	7.00	5.00	6.00	4.00	4.00	6.00	3.00	3.00	3.00	4.00
Depreciation	10.00	8.00	10.00	8.00	8.00	8.00	7.00	6.00	4.00	4.00	3.00	3.00
Profit before tax	31.00	18.00	10.00	9.00	21.00	15.00	14.00	15.00	9.00	8.00	8.00	7.00
Tax %	13.00	21.00	27.00	15.00	13.00	17.00	21.00	25.00	31.00	30.00	27.00	29.00
Net Profit	27.00	14.00	7.00	8.00	18.00	12.00	11.00	11.00	6.00	5.00	6.00	5.00
EPS in Rs	6.68	3.48	1.81	2.02	4.89	3.41	3.22	3.18	1.74	1.50	2.29	8.08
Dividend Payout %	0.00	12.00	0.00	0.00	14.00	20.00	16.00	16.00	0.00	0.00	0.00	0.00

Balance Sheet

Annual · Rs. Crores — latest first

Metric	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017	Mar 2016	Mar 2015
Equity Capital	40.00	40.00	40.00	40.00	12.00	12.00	12.00	12.00	12.00	12.00	9.00	2.00
Reserves	133.00	106.00	88.00	80.00	93.00	67.00	57.00	47.00	36.00	30.00	20.00	21.00
Borrowings	113.00	95.00	98.00	65.00	73.00	78.00	52.00	54.00	39.00	27.00	25.00	28.00
Other Liabilities	46.00	42.00	30.00	29.00	30.00	31.00	19.00	24.00	25.00	26.00	15.00	19.00
Total Liabilities	333.00	283.00	256.00	215.00	208.00	187.00	140.00	137.00	112.00	94.00	69.00	70.00
Fixed Assets	84.00	83.00	90.00	79.00	71.00	77.00	58.00	59.00	31.00	35.00	31.00	27.00
CWIP	9.00	0.00	0.00	13.00	0.00	0.00	14.00	2.00	16.00	1.00	0.00	3.00
Investments	23.00	22.00	22.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Other Assets	217.00	178.00	144.00	123.00	137.00	110.00	68.00	75.00	65.00	58.00	38.00	40.00
Total Assets	333.00	283.00	256.00	215.00	208.00	187.00	140.00	137.00	112.00	94.00	69.00	70.00

Cash Flows

Annual · Rs. Crores — latest first

Metric	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017	Mar 2016	Mar 2015
Cash from Operating Activity	32.00	8.00	4.00	36.00	4.00	-1.00	27.00	10.00	7.00	2.00	9.00	8.00
Cash from Investing Activity	-44.00	1.00	-29.00	-30.00	-3.00	-17.00	-17.00	-18.00	-15.00	-9.00	-3.00	-8.00
Cash from Financing Activity	10.00	-8.00	25.00	-7.00	-3.00	19.00	-10.00	6.00	11.00	7.00	-6.00	0.00
Net Cash Flow	-1.00	1.00	0.00	-1.00	-2.00	2.00	0.00	-2.00	2.00	0.00	0.00	0.00
Free Cash Flow	12.00	7.00	-2.00	7.00	2.00	-14.00	10.00	-9.00	-9.00	-7.00	5.00	0.00
CFO/OP %	85.00	32.00	27.00	195.00	23.00	7.00	130.00	53.00	62.00	32.00	82.00	82.00

Ratios

Annual · Days / % — latest first

Metric	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017	Mar 2016	Mar 2015
Debtor Days	62.00	46.00	53.00	35.00	40.00	36.00	35.00	63.00	52.00	48.00	45.00	49.00
Inventory Days	141.00	155.00	149.00	119.00	106.00	183.00	110.00	57.00	74.00	120.00	83.00	73.00
Days Payable	38.00	36.00	28.00	30.00	28.00	36.00	21.00	41.00	36.00	49.00	38.00	28.00
Cash Conversion Cycle	165.00	166.00	174.00	124.00	118.00	183.00	124.00	79.00	91.00	119.00	89.00	95.00
Working Capital Days	34.00	52.00	42.00	60.00	57.00	40.00	35.00	27.00	27.00	22.00	14.00	-13.00
ROCE %	15.00	11.00	8.00	8.00	16.00	13.00	16.00	21.00	16.00	18.00	22.00	23.00

Shareholding Pattern

% holding — latest first

Holder	Jun 2026	Mar 2026	Dec 2025	Sep 2025	Jun 2025	Mar 2025	Dec 2024	Sep 2024	Jun 2024	Mar 2024	Dec 2023	Sep 2023
Promoters	59.18	59.18	58.79	58.79	58.79	58.79	58.79	58.79	58.79	58.79	58.79	58.79
FIIs	0.00	0.17	0.00	0.11	0.24	0.00	0.00	0.00	0.00	0.11	0.00	0.00
DIIs	0.06	0.09	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Public	40.77	40.56	41.21	41.10	40.96	41.21	41.22	41.22	41.21	41.10	41.22	41.22
No. of Shareholders	5,378	5,832	5,007	6,015	4,810	5,240	5,864	5,735	4,671	4,711	4,698	4,921

Corporate Actions

8 records

Action	Ex Date	Record Date	Ratio	Amount (₹)	Notes
Dividend	22 Sep 2025	22 Sep 2025	—	0.40
Other	23 Sep 2024	—	—	—	Annual General Meeting
Bonus	25 Nov 2022	25 Nov 2022	2:1	—
Dividend	22 Sep 2022	23 Sep 2022	—	2.10
Dividend	22 Sep 2021	23 Sep 2021	—	2.00
Dividend	18 Sep 2020	21 Sep 2020	—	1.50
Dividend	09 Sep 2019	—	—	0.80
Dividend	15 Nov 2018	16 Nov 2018	—	0.70