Commercial Syn Bags Limited (COMSYN)

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Commercial Syn Bags Limited (COMSYN) · mywealthgrid

About

Commercial Syn Bags Limited manufactures packaging products in the industrials sector, with quarterly revenues around ₹100 Cr and market cap of ₹1,162 Cr. The stock has appreciated 118% over the past year but trades at a PE of 39.14, requiring strong forward earnings visibility.

Face value: ₹10

Market cap

₹1,057 Cr

P/E

35.6×

P/B

6.0×

Dividend yield

0.2%

ROE

16.1%

ROCE

19.7%

Debt / equity

0.68

OPM

12.4%

EPS (TTM)

₹7.4

Book value

₹44.0

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

High PE multiple of 39.14 — verify what near-term earnings growth rate justifies valuation relative to historical cycles in packaging

Operating margin fluctuates between 11.2% and 14.4% across recent quarters, suggesting exposure to uncontrolled cost or pricing factors

Strong 1-year return of 118% concentrates gains; confirm earnings resilience if market reprices growth expectations downward

Minimal institutional ownership (FII 0%, DII 0.06%) — assess liquidity and analyst coverage at current price levels

Generated analysis · source review pending

Growth drivers

Latest quarter EPS of ₹2.40 is the highest in the dataset; verify if this reflects durable earnings improvement or cyclical strength

Operating margin has reached 14.38% in prior quarters; sustained recovery toward that level would expand net profit significantly at current ₹100Cr revenue

ROE of 16.07% shows reasonable capital efficiency; if asset base grows, absolute profit scales provided return rate persists

Quarterly revenue of ₹97–109 Cr shows no recent growth; verify whether packaging sector demand is expanding and company's positioning within it

Generated analysis · source review pending

2,148 historical price candles were omitted because the exchange source has not been verified.

₹262.4+0.2%1Y

Quick read

rule-based

Pros

+Profit CAGR of 17% over the last 5 years

Cons

−Low dividend payout of 6.8% of profit

Research score

Structured signal from quality, growth, valuation and momentum.

55/100

Business quality: 42
Growth: 81
Valuation: 41

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Screen this industry Compare top 5 side-by-side

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	191	214	323	290	288	348	387
COGS	100	109	189	164	161	184	202
Gross profit	91	104	134	126	128	164	185
	67	78	100	102	101	128	137
	24	26	34	24	27	36	48
OPM %	12.4%	12.3%	10.4%	8.1%	9.3%	10.2%	12.4%
Depreciation	7	8	9	10	11	9	11
Interest	4	4	7	6	8	9	9
	2	-0	4	2	3	4	3
Profit before tax	14	15	21	9	11	21	31
Tax	3	3	3	1	3	4	4
Tax %	20.9%	17.4%	13.6%	14.5%	26.8%	20%	14.1%
	11	12	18	8	8	17	26
PAT margin %	6%	5.6%	5.7%	2.8%	2.7%	4.9%	6.8%
EPS (₹)	9.7	10.1	15.5	2	3.9	4.3	6.6
EPS adjusted (₹)	3.2	3.4	4.9	2	2	4.3	6.5
	15.5%	19.7%	13.6%	0%	0%	9.3%	7.6%
Annual report	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	—

₹ Cr	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	12	12	12	40	40	40	40
Reserves	57	—	93	81	89	110	137
Minority interest	—	—	0	—	0	—	—
	46	—	84	76	101	107	120
	26	—	32	30	44	51	61
Total equity & liabilities	140	—	222	226	273	308	358
	58	87	94	99	108	100	106
CWIP	14	—	0	13	0	2	26
Investments	0	—	0	0	22	23	24
	68	—	128	115	143	183	202
Total assets	140	—	222	226	273	308	358

Segment results

As reported in NSE results XBRL. Segment result is before tax and finance costs. ROCE uses that annual result divided by segment assets less liabilities.

Source XBRL ↗

Latest reported period · 31 Mar 2026 · ₹ crore

Segment	Revenue	Result	Assets	Liabilities	Capital employed	ROCE %
Segment -A Manufacturing	384.26	47.38	331.62	164.65	166.97	28.38
Segment-B other Segment	2.75	3.25

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	47.5%	48.9%	41.5%	43.3%	44.3%	47%	47.8%
EBITDA margin %	12.4%	12.3%	10.4%	8.1%	9.3%	10.2%	12.4%
EBIT margin %	8.8%	8.8%	7.5%	4.8%	5.5%	7.7%	9.6%
PAT margin %	6%	5.6%	5.7%	2.8%	2.7%	4.9%	6.8%
Working capital
Receivable days	35	—	40	35	54	48	62
Inventory days	110	—	115	129	164	160	149
Payable days	21	—	30	34	39	37	40
NWC days	124	—	125	130	179	172	171
Leverage
Current ratio	1.59	—	1.56	1.67	1.28	1.36	1.27
Debt to EBITDA	1.92	—	2.5	3.2	3.76	3.01	2.5
Debt to equity	0.66	—	0.79	0.63	0.78	0.71	0.68
Interest coverage	4.4	4.5	4.2	2.5	2.3	3.3	4.4
Asset turnover	1.36	—	1.46	1.28	1.06	1.13	1.08
Return ratios
Return on assets %	8.2%	—	8.3%	3.6%	2.9%	5.6%	7.3%
Return on capital employed %	18.5%	—	19.1%	10%	11.2%	17.1%	19.7%
Return on equity %	16.6%	—	17.3%	6.7%	6.1%	11.4%	14.8%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	58.79%	58.79%	58.79%	58.79%	58.79%	58.79%	58.79%	58.79%	58.79%	58.79%	59.18%	59.18%
	0%	0%	0.11%	0%	0%	0%	0%	0.24%	0.11%	0%	0.17%	0%
	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0.09%	0.06%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	41.21%	41.21%	41.1%	41.21%	41.21%	41.21%	41.21%	40.97%	41.1%	41.21%	40.56%	40.76%
No. of shareholders	—	—	—	—	—	—	—	—	6,015	5,007	5,832	5,378

Promoter holding up 0.39 percentage points since Sep 2023.

134 deals · 1 Sept 2021 – 30 Sept 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
30 Sept 2026	ARIHANT CAPITAL MARKETS LIMITED	Bulk	NSE	Sell	2,27,547	₹273.27	₹6.22 Cr
30 Sept 2026	ARIHANT CAPITAL MARKETS LIMITED	Bulk	NSE	Buy	51,040	₹271.89	₹1.39 Cr
28 Sept 2026	CRABEL VINTRADE PRIVATE LIMITED	Bulk	NSE	Buy	3,21,655	₹281.02	₹9.04 Cr
28 Sept 2026	ARIHANT CAPITAL MARKETS LIMITED	Bulk	NSE	Sell	2,66,893	₹284.85	₹7.60 Cr
28 Sept 2026	ARIHANT CAPITAL MARKETS LIMITED	Bulk	NSE	Buy	1,36,038	₹284.26	₹3.87 Cr
25 Sept 2026	ARIHANT CAPITAL MARKETS LIMITED	Bulk	NSE	Buy	9,49,123	₹300.27	₹28.50 Cr
25 Sept 2026	ARIHANT CAPITAL MARKETS LIMITED	Bulk	NSE	Sell	5,12,571	₹300.63	₹15.41 Cr
25 Sept 2026	PROMPT CORPORATE SERVICES LTD	Bulk	NSE	Sell	2,20,000	₹301.02	₹6.62 Cr
23 Sept 2026	ARIHANT CAPITAL MARKETS LIMITED	Bulk	NSE	Buy	2,87,595	₹301.25	₹8.66 Cr
23 Sept 2026	ARIHANT CAPITAL MARKETS LIMITED	Bulk	NSE	Sell	2,69,197	₹301.83	₹8.13 Cr

1–10 of 134

1 / 14

Mr. Anil ChoudharyExecutive Director-Chairperson related to Promoter-MD
Mrs. Ranjana ChoudharyExecutive Director
Mr. Virendra Singh PamechaExecutive Director
Mr. Sunil AgrawalNon-Executive - Independent Director
Mr. Milind MahajanNon-Executive - Independent Director
Mr. Vijay Kumar BansalNon-Executive - Independent Director
Ravindra ChoudharyChief Executive Officer
Mr. Abhishek JainChief Financial Officer & Compliance Officer
Mr. Sandeep PatelCompany Secretary

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

No fund holdings on record

No scheme among the 32 fund houses on record reported a position in Commercial Syn Bags Limited. Portfolios are published monthly by each AMC; coverage is still partial.

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

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Events

Upcoming dates and the company’s corporate-action history.

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

38 announcementsExport CSV

1 Oct 2026, 6:53 pmCompany Update

Announcement under Regulation 30 (LODR)-Change in Management

Change in Management PDF

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Ratio	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	47.5%	48.9%	41.5%	43.3%	44.3%	47%	47.8%
EBITDA margin %	12.4%	12.3%	10.4%	8.1%	9.3%	10.2%	12.4%
EBIT margin %	8.8%	8.8%	7.5%	4.8%	5.5%	7.7%	9.6%
PAT margin %	6%	5.6%	5.7%	2.8%	2.7%	4.9%	6.8%
Working capital
Receivable days	35	—	40	35	54	48	62
Inventory days	110	—	115	129	164	160	149
Payable days	21	—	30	34	39	37	40
NWC days	124	—	125	130	179	172	171
Leverage
Current ratio	1.59	—	1.56	1.67	1.28	1.36	1.27
Debt to EBITDA	1.92	—	2.5	3.2	3.76	3.01	2.5
Debt to equity	0.66	—	0.79	0.63	0.78	0.71	0.68
Interest coverage	4.4	4.5	4.2	2.5	2.3	3.3	4.4
Asset turnover	1.36	—	1.46	1.28	1.06	1.13	1.08
Return ratios
Return on assets %	8.2%	—	8.3%	3.6%	2.9%	5.6%	7.3%
Return on capital employed %	18.5%	—	19.1%	10%	11.2%	17.1%	19.7%
Return on equity %	16.6%	—	17.3%	6.7%	6.1%	11.4%	14.8%

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Epl LimitedEPLEPL	₹7,443 Cr	₹8,152 Cr	₹5,043 Cr	₹1,000 Cr	20.3%	₹388 Cr	8.3%	19.5%	14.9%	97
Agi Greenpac LimitedAGIAGI	₹5,116 Cr	₹5,355 Cr	₹2,763 Cr	₹628 Cr	22.3%	₹362 Cr	13.2%	18.6%	15.6%	188
Uflex LimitedUFLEXUFLEX	₹4,692 Cr	₹14,545 Cr	₹16,866 Cr	₹2,302 Cr	12.2%	₹682 Cr	2.1%	8.6%	4.1%	89
Tcpl Packaging LimitedTCPLPACKTCPLPACK	₹3,574 Cr	₹4,148 Cr	₹1,872 Cr	₹299 Cr	16.2%	₹115 Cr	5.4%	22.4%	14.4%	98
Polyplex Corporation LimitedPOLYPLEXPOLYPLEX	₹3,228 Cr	₹4,145 Cr	₹7,601 Cr	₹592 Cr	4.9%	₹155 Cr	0.6%	1.1%	1.1%	147
Jindal Poly Films LimitedJINDALPOLYJINDALPOLY	₹2,863 Cr	₹6,866 Cr	₹2,152 Cr	₹-613 Cr	-20.2%	₹-989 Cr	-36.6%	-2%	-29.6%	81
Xpro India LimitedXPROINDIAXPROINDIA	₹2,670 Cr	₹2,959 Cr	₹535 Cr	₹50 Cr	6.3%	₹33 Cr	3.9%	3.9%	2.8%	80
Knack Packaging LimitedKNACKKNACK	₹2,211 Cr	₹2,404 Cr	₹736 Cr	₹133 Cr	18.1%	₹74 Cr	10%	47.1%	41.5%	—
Mold-Tek Packaging LimitedMOLDTKPACMOLDTKPAC	₹2,187 Cr	₹2,231 Cr	₹631 Cr	₹121 Cr	19.1%	₹64 Cr	10.1%	24.3%	17.9%	148
Cosmo First LimitedCOSMOFIRSTCOSMOFIRST	₹2,166 Cr	₹3,752 Cr	₹4,004 Cr	₹428 Cr	10.5%	₹167 Cr	4.3%	11.6%	10.1%	10
Huhtamaki India LimitedHUHTAMAKIHUHTAMAKI	₹1,757 Cr	₹1,859 Cr	₹2,610 Cr	₹225 Cr	7.7%	₹136 Cr	4.8%	12.3%	9.5%	26
Arrow Greentech LimitedARROWGREENARROWGREEN	₹1,306 Cr	₹1,306 Cr	₹247 Cr	₹86 Cr	32.2%	₹64 Cr	23.6%	30.4%	22.4%	141

Date	Category	Subject	Filing
1 Oct 2026, 6:53 pm	Company Update Change in Management	Announcement under Regulation 30 (LODR)-Change in Management	PDF
1 Oct 2026, 6:43 pm	Corp. Action Dividend Updates	Announcement under Regulation 30 (LODR)-Dividend Updates	PDF
1 Oct 2026, 6:33 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Outcome of AGM	PDF
1 Oct 2026, 6:24 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Scrutinizer''s Report	PDF
29 Sept 2026, 7:12 pm	AGM/EGM AGM	Submission Of The Proceedings Of The 42Nd Annual General Meeting (AGM) Of The Company.	PDF
22 Sept 2026, 12:33 pm	AGM/EGM AGM	Submission Of Corrigendum To The Notice Of 42Nd Annual General Meeting To Be Held On 29Th September, 2026	PDF
17 Sept 2026, 11:47 am	Board Meeting Outcome of Board Meeting	Board Meeting Outcome for Submission Of Outcome As Per Regulation 30 Read With Schedule III (A)(IV) Of The SEBI (LODR) Regulation, 2015 For The 4/2026-27 Board Meeting	PDF
14 Sept 2026, 2:20 pm	Insider Trading / SAST Closure of Trading Window	Closure of Trading Window	PDF

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	-9	6	38	6	1	39
	-17	-7	-30	-29	-0	-45
	28	-1	-8	23	0	5
Net cash flow	2	-2	-1	0	1	-1
Free cash flow	-28	-12	-5	-6	-8	-1
CFO / Operating profit %	-33.4%	18.8%	159.3%	22.8%	2.9%	81.1%

Commercial Syn Bags Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Segment results

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Events

Announcements

Not in the F&O segment

No fund holdings on record

Announcements

Annual reports

Credit ratings

7

1

1

Segment results

Compounded sales growth

Compounded profit growth

Return on equity

Segment -A Manufacturing · revenue

Commercial Syn Bags Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Segment results

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Events

Announcements

Ratio timeline

Not in the F&O segment

No fund holdings on record

Quarterly record

Bulk & block deals

Board and management

Announcements

Annual reports

Credit ratings

Dividends7

Board meetings1

Bonus issues1

Profit & loss

Balance sheet

Segment results

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

Segment -A Manufacturing · revenue

7

1

1