COMSYN
Commercial Syn Bags financials
- Market cap
- ₹1.2k Cr
- Sector
- Capital Goods
What Commercial Syn Bags Limited does
Commercial Syn Bags Limited manufactures Flexible Intermediate Bulk Container (FIBC/jumbo) bags, HDPE/PP tarpaulin, woven sacks, BOPP bags, ground covers, pond liners, mulch films, laminates, geotextiles and other technical-textile packaging products for B2B customers in chemicals, cement, agriculture, food and construction. It sells mainly to export markets from its manufacturing units at Pithampur near Indore, Madhya Pradesh. Alongside manufacturing, it runs a trading segment as del-credere agent-cum-consignment stockist (DCA-cum-CS) for polymer (PE/PP) granules on behalf of ONGC Petro Additions Limited (OPaL), and holds a 50% stake in UK-based associate Smartlift Bulk Packaging Limited.
Segments
- Manufacturing
- Trading
- Manufacturing units
- 5 (Unit I, II, III, SEZ & TECHTEX, all at Pithampur, Indore, MP)
- Installed manufacturing capacity
- 23,730 MTPA (FY21)
- Annual Big Bag production
- 6-7 Mn bags/year
- Export presence
- Over 25 countries (FY21)
- Employees
- Over 2,200 (FY21)
- Captive solar power capacity
- 1.0 MW (1.2 MW peak) at Ujaas Solar Park, Sitamau, MP
Quarterly results
Q1 FY27: revenue up 20.6%, net profit up 60.9% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 87 | 86 | 98 | 91 | 98 +14% | 97 +13% | 101 +3% | 109 +21% |
| EBITDA | 8 | 9 | 11 | 11 | 13 +65% | 12 +28% | 12 +5% | 16 +42% |
| Net profit | 4 | 4 | 8 | 6 | 8 +134% | 6 +70% | 6 −21% | 9 +61% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance +94.7% 1Y
1Y: ₹153.63 on 10 Sept 2025 → ₹299.15. High ₹304.35 (1 Sept 2026), low ₹138 (10 Dec 2025).
Financials, as filed
Revenue grew 9.9% a year over 3 years, FY23 to FY26. Operating margin widened to 12.4%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹291 Cr | ₹288 Cr | ₹348 Cr | ₹387 Cr |
| Operating profit | ₹20 Cr | ₹27 Cr | ₹36 Cr | ₹48 Cr |
| Operating margin | 7.0% | 9.3% | 10.2% | 12.4% |
| Interest | ₹5 Cr | ₹8 Cr | ₹9 Cr | ₹9 Cr |
| Depreciation | ₹8 Cr | ₹11 Cr | ₹9 Cr | ₹11 Cr |
| Net profit | ₹8 Cr | ₹8 Cr | ₹17 Cr | ₹26 Cr |
| Net margin | 2.8% | 2.7% | 4.9% | 6.8% |
| Cash from operations | ₹38 Cr | ₹6 Cr | ₹1 Cr | ₹39 Cr |
| Free cash flow | ₹10 Cr | ₹0 Cr | ₹-1 Cr | ₹-1 Cr |
| ROCE | 8.0% | 9.0% | 12.0% | 14.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹12 Cr | ₹12 Cr | ₹40 Cr | ₹40 Cr | ₹40 Cr | ₹40 Cr |
| Reserves | ₹67 Cr | ₹93 Cr | ₹81 Cr | ₹89 Cr | ₹118 Cr | ₹137 Cr |
| Borrowings | ₹86 Cr | ₹84 Cr | ₹76 Cr | ₹109 Cr | ₹101 Cr | ₹129 Cr |
| Other liabilities | ₹32 Cr | ₹32 Cr | ₹31 Cr | ₹36 Cr | ₹44 Cr | ₹52 Cr |
| Total liabilities | ₹197 Cr | ₹222 Cr | ₹227 Cr | ₹273 Cr | ₹303 Cr | ₹358 Cr |
| Fixed assets | ₹87 Cr | ₹94 Cr | ₹99 Cr | ₹108 Cr | ₹80 Cr | ₹106 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹13 Cr | ₹0 Cr | ₹2 Cr | ₹26 Cr |
| Investments | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹22 Cr | ₹23 Cr | ₹24 Cr |
| Other assets | ₹109 Cr | ₹128 Cr | ₹116 Cr | ₹143 Cr | ₹198 Cr | ₹202 Cr |
| Total assets | ₹197 Cr | ₹222 Cr | ₹227 Cr | ₹273 Cr | ₹303 Cr | ₹358 Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, promoters added +0.39 pp while FIIs trimmed −0.24 pp. The shareholder count grew 12% to 5,378.
- Promoters
- 59.2%
- DIIs
- 0.1%
- Public
- 40.8%
Since Jun 2025
- Promoters +0.39 pp
- FIIs −0.24 pp
- Public −0.19 pp
How it drifted, 12 quarters
Ownership split by quarter, oldest first. Sep '23: Promoters 58.8%, Public 41.2%.Dec '23: Promoters 58.8%, Public 41.2%.Mar '24: Promoters 58.8%, FIIs 0.1%, Public 41.1%.Jun '24: Promoters 58.8%, Public 41.2%.Sep '24: Promoters 58.8%, Public 41.2%.Dec '24: Promoters 58.8%, Public 41.2%.Mar '25: Promoters 58.8%, Public 41.2%.Jun '25: Promoters 58.8%, FIIs 0.2%, Public 41.0%.Sep '25: Promoters 58.8%, FIIs 0.1%, Public 41.1%.Dec '25: Promoters 58.8%, Public 41.2%.Mar '26: Promoters 59.2%, FIIs 0.2%, DIIs 0.1%, Public 40.6%.Jun '26: Promoters 59.2%, DIIs 0.1%, Public 40.8%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- L7 Securities Private Limited newly disclosed 1.06% held
- L7 Hitech Private Limited +0.98 pp 3.57% held
The same filing shows 0 holders trimming and 0 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Commercial Syn Bags Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Super Sack Private Limited | 26.29% | unchanged |
| Praavanya Ventures Llp | 5.39% | unchanged |
| Mohan Lal Choudhary | 4.75% | unchanged |
| Anil Choudhary | 4.46% | unchanged |
| Pravi Investments Llp | 3.93% | unchanged |
| Veenal Choudhary | 3.87% | unchanged |
| Niraj Rajnikant Shah | 3.72% | unchanged |
| L7 Hitech Private Limited | 3.57% | +0.98 pp |
| Anil Choudhary Huf | 3.50% | unchanged |
| Pramal Choudhary | 3.03% | unchanged |
| Shambhudayal Garg | 2.94% | unchanged |
| Ravindra Kumar Choudhary | 2.86% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Learn to analyse Commercial Syn Bags Limited
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