Commercial Syn Bags Ltd

COMSYN

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Market Cap

₹ 575 Cr

P/E

22.48

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Investment Checklist

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Performance

STEADY PERFORMER

Valuation

OVERVALUED

Growth

STABLE

Profitability

MODERATE MARGIN

Technicals

Bullish

Risk

MODERATE RISK

Investment Checklist

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Price

PE Ratio

Price

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Overview

Detailed Summary

Commercial Syn Bags Limited is a manufacturer of flexible packaging and technical textiles, including FIBC, BOPP, and woven sacks.

The company operates manufacturing and trading segments with plants in Pithampur and a solar power facility in Sitamau for captive use.

In 2018, the company commenced commercial operations at its SEZ Unit, boosting production capacity from 13,100 MT to 17,000 MT annually.

They expanded into printed laminates for flexible packaging in 2016, installing machinery for advanced printing and lamination.

Comsyn India Private Limited was established as a wholly owned subsidiary in 2020, signaling strategic growth intentions.

Sector

Packaging

Industry

Packaging - Polysacks

Market Cap

575 Cr

Volatility

Low Risk

P/E Ratio

22.5

Industry P/E

16.2

PEG Ratio

0.2

P/B Ratio

3.5

52W High

166.00

52W Low

66.34

Sales CAGR

20.59%

2.03%

12.33%

10Y

12.10%

Profit CAGR

117.81%

-8.57%

4.00%

10Y

9.93%

ROE

TTM

15.74%

7.41%

10.28%

10Y

12.09%

ROCE

TTM

14.65%

11.57%

13.78%

10Y

16.17%

Technicals

‌

Forecasts

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
TIRUPATI	719.00	728 Cr	50.78	7.91	0.00	9.64	10.98	4.53
COMSYN	145.00	575 Cr	22.48	3.54	0.28	15.74	14.65	8.10
SHRJAGP	654.50	573 Cr	11.92	1.84	0.00	16.06	19.85	12.24
KANPRPLA	196.10	471 Cr	13.30	2.02	0.43	15.57	16.39	5.57
BALAJEE	38.54	314 Cr	16.54	1.05	0.00	6.33	10.64	3.79
RDBRL	166.50	295 Cr	9.02	1.27	0.00	14.08	19.02	13.69
ECOLINE	138.50	284 Cr	14.69	2.14	0.00	31.50	26.27	0.00

Financial Statements

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Consolidated Quarterly Results (in ₹ Crores)

View Standalone

Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	79	68	71	70	77	87	86	98	91	98
Expenses	73	61	67	61	70	79	77	86	79	85
Operating Profit	6.58	7.42	4.00	8.74	6.88	7.87	9.44	11	11	13
OPM %	8.28	10.87	5.63	12.55	8.95	9.08	10.91	11.65	12.18	13.20
Other Income	0.27	0.56	0.24	2.27	0.85	0.80	0.13	2.25	0.71	0.36
Interest	1.63	2.05	1.65	3.08	2.33	2.10	2.74	2.20	2.44	2.10
Depreciation	2.63	2.71	2.79	2.81	3.00	2.67	2.64	0.52	2.72	2.67
Profit Before Tax	2.59	3.22	-0.20	5.12	2.40	3.90	4.20	11	6.57	8.59
Tax %	1.93	27.02	-30.00	37.11	19.17	7.69	16.19	26.03	15.53	1.98
Net Profit	2.54	2.35	-0.25	3.22	1.93	3.60	3.52	8.07	5.55	8.42
EPS in Rs	0.64	0.58	-0.06	0.81	0.48	0.90	0.88	2.02	1.32	2.01

Consolidated Profit Loss (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	191	214	323	290	288	348	361
Expenses	167	187	289	267	262	312	322
Operating Profit	24	26	34	24	27	36	40
OPM %	12.44	12.34	10.42	8.13	9.27	10.22	10.99
Other Income	1.86	-0.07	3.61	1.62	3.34	4.03	3.89
Interest	4.29	4.14	6.58	6.14	8.41	9.36	9.48
Depreciation	6.90	7.66	9.45	9.62	11	8.82	8.55
Profit Before Tax	14	15	21	9.46	11	21	26
Tax %	20.89	17.41	13.61	14.50	26.81	20.05	18.92
Net Profit	11	12	18	8.09	7.86	17	21
EPS in Rs	—	3.00	4.39	2.14	1.97	4.28	6.23
Dividend Payout %	15.51	19.72	14.34	0.00	0.00	9.32	—

Consolidated Balance Sheet (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	12	12	12	40	40	40
Reserves	57	67	93	81	89	110
Borrowings	46	86	84	76	109	115
Other Liabilities	26	32	32	31	36	43
Total Liabilities	140	197	222	227	273	308
Fixed Assets	58	87	94	99	108	100
CWIP	14	0.30	0.00	13	0.11	1.65
Investments	0.00	0.00	-0.04	-0.16	22	23
Other Assets	68	109	128	116	143	183
Total Assets	140	197	222	227	273	308

Consolidated Cash Flows (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	27	-8.82	6.31	38	6.10	1.02
Cash from Investing Activity	-17	-17	-7.48	-30	-29	0.00
Cash from Financing Activity	-10	28	-0.54	-8.34	23	0.00
Net Cash Flow	-0.04	2.02	-1.71	-0.61	0.40	1.02

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Jan 2024	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Promoters	58.66%	58.66%	58.79%	58.79%	58.79%	58.79%	58.79%	58.79%	58.79%	58.79%	58.79%	58.79%
FIIs	0.00%	0.00%	0.00%	0.00%	0.00%	0.11%	0.00%	0.00%	0.00%	0.00%	0.24%	0.11%
DIIs	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Public	41.34%	41.34%	41.21%	41.21%	41.21%	41.10%	41.21%	41.21%	41.21%	41.21%	40.97%	41.11%
Total Shareholders	4,749	4,875	4,921	4,698	4,706	4,711	4,671	5,735	5,864	5,240	4,810	6,015

Market Transactions

Date	Party	Category	Type	Avg Price (₹)	Total Value (₹)	Quantity	Percent Traded
Jul 30, 2025	Trade corner	Bulk	Buy	138.14	0.08 Cr	5,767	0.01
Jul 30, 2025	Trade corner	Bulk	Sell	137.49	4.98 Cr	3,62,521	0.90
May 21, 2025	Trade corner	Bulk	Sell	114.90	4.03 Cr	3,50,485	0.87
May 21, 2025	Trade corner	Bulk	Buy	113.81	0.52 Cr	45,285	0.11
Oct 17, 2024	Anant wealth consultants priv...	Bulk	Sell	64.17	0.00 Cr	1	0.00
Oct 17, 2024	Anant wealth consultants priv...	Bulk	Buy	63.73	1.48 Cr	2,31,501	0.57
Oct 17, 2024	Yogeshkumar rasiklal sanghavi	Bulk	Sell	63.50	1.27 Cr	2,00,000	0.50
Oct 03, 2024	L7 hitech private limited	Bulk	Buy	59.00	2.00 Cr	3,39,131	0.84
Oct 03, 2024	Prajal bhandari	Bulk	Sell	59.98	2.70 Cr	4,50,000	1.12
Sep 06, 2024	L7 hitech private limited	Bulk	Buy	71.50	1.43 Cr	2,00,000	0.50

Projection

Actions

Action Type

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Announcements

Last 7 days

Newest

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Documents

Presentations

Concalls

Reports

Presentations

Investor Presentation

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Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
TIRUPATI	719.00	728 Cr	50.78	7.91	0.00	9.64	10.98	4.53
COMSYN	145.00	575 Cr	22.48	3.54	0.28	15.74	14.65	8.10
SHRJAGP	654.50	573 Cr	11.92	1.84	0.00	16.06	19.85	12.24
KANPRPLA	196.10	471 Cr	13.30	2.02	0.43	15.57	16.39	5.57
BALAJEE	38.54	314 Cr	16.54	1.05	0.00	6.33	10.64	3.79
RDBRL	166.50	295 Cr	9.02	1.27	0.00	14.08	19.02	13.69
ECOLINE	138.50	284 Cr	14.69	2.14	0.00	31.50	26.27	0.00

Financial Statements

AI Powered Summary

Discover detailed, AI-driven financial summaries that break down key metrics, trends, and insights—empowering you to make smarter investment decisions.

AI Mode

Consolidated Quarterly Results (in ₹ Crores)

View Standalone

Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	79	68	71	70	77	87	86	98	91	98
Expenses	73	61	67	61	70	79	77	86	79	85
Operating Profit	6.58	7.42	4.00	8.74	6.88	7.87	9.44	11	11	13
OPM %	8.28	10.87	5.63	12.55	8.95	9.08	10.91	11.65	12.18	13.20
Other Income	0.27	0.56	0.24	2.27	0.85	0.80	0.13	2.25	0.71	0.36
Interest	1.63	2.05	1.65	3.08	2.33	2.10	2.74	2.20	2.44	2.10
Depreciation	2.63	2.71	2.79	2.81	3.00	2.67	2.64	0.52	2.72	2.67
Profit Before Tax	2.59	3.22	-0.20	5.12	2.40	3.90	4.20	11	6.57	8.59
Tax %	1.93	27.02	-30.00	37.11	19.17	7.69	16.19	26.03	15.53	1.98
Net Profit	2.54	2.35	-0.25	3.22	1.93	3.60	3.52	8.07	5.55	8.42
EPS in Rs	0.64	0.58	-0.06	0.81	0.48	0.90	0.88	2.02	1.32	2.01

Consolidated Profit Loss (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	191	214	323	290	288	348	361
Expenses	167	187	289	267	262	312	322
Operating Profit	24	26	34	24	27	36	40
OPM %	12.44	12.34	10.42	8.13	9.27	10.22	10.99
Other Income	1.86	-0.07	3.61	1.62	3.34	4.03	3.89
Interest	4.29	4.14	6.58	6.14	8.41	9.36	9.48
Depreciation	6.90	7.66	9.45	9.62	11	8.82	8.55
Profit Before Tax	14	15	21	9.46	11	21	26
Tax %	20.89	17.41	13.61	14.50	26.81	20.05	18.92
Net Profit	11	12	18	8.09	7.86	17	21
EPS in Rs	—	3.00	4.39	2.14	1.97	4.28	6.23
Dividend Payout %	15.51	19.72	14.34	0.00	0.00	9.32	—

Consolidated Balance Sheet (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	12	12	12	40	40	40
Reserves	57	67	93	81	89	110
Borrowings	46	86	84	76	109	115
Other Liabilities	26	32	32	31	36	43
Total Liabilities	140	197	222	227	273	308
Fixed Assets	58	87	94	99	108	100
CWIP	14	0.30	0.00	13	0.11	1.65
Investments	0.00	0.00	-0.04	-0.16	22	23
Other Assets	68	109	128	116	143	183
Total Assets	140	197	222	227	273	308

Consolidated Cash Flows (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	27	-8.82	6.31	38	6.10	1.02
Cash from Investing Activity	-17	-17	-7.48	-30	-29	0.00
Cash from Financing Activity	-10	28	-0.54	-8.34	23	0.00
Net Cash Flow	-0.04	2.02	-1.71	-0.61	0.40	1.02

Oscillators

BearishNeutralBullish

Neutral

Bearish

Neutral

Bullish

Overall

BearishNeutralBullish

Bullish

Bearish

Neutral

Bullish

Moving Averages

BearishNeutralBullish

Bullish

Bearish

Neutral

Bullish

Overall

BearishNeutralBullish

Bullish

Bearish

Neutral

Bullish

Overview

Detailed Summary

Commercial Syn Bags Limited is a manufacturer of flexible packaging and technical textiles, including FIBC, BOPP, and woven sacks.

The company operates manufacturing and trading segments with plants in Pithampur and a solar power facility in Sitamau for captive use.

In 2018, the company commenced commercial operations at its SEZ Unit, boosting production capacity from 13,100 MT to 17,000 MT annually.

They expanded into printed laminates for flexible packaging in 2016, installing machinery for advanced printing and lamination.

Comsyn India Private Limited was established as a wholly owned subsidiary in 2020, signaling strategic growth intentions.

Sector

Packaging

Industry

Packaging - Polysacks

Market Cap

575 Cr

Volatility

Low Risk

P/E Ratio

22.5

Industry P/E

16.2

PEG Ratio

0.2

P/B Ratio

3.5

52W High

166.00

52W Low

66.34

Sales CAGR

20.59%

2.03%

12.33%

10Y

12.10%

Profit CAGR

117.81%

-8.57%

4.00%

10Y

9.93%

ROE

TTM

15.74%

7.41%

10.28%

10Y

12.09%

ROCE

TTM

14.65%

11.57%

13.78%

10Y

16.17%