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NSE:COMSYN

COMMERCIAL SYN BAGS LTD

Capital Goods › Industrial Products
₹209.05
at close · 28 Oct 2026
▼ 12.85 (-5.79%)

Latest filings

  1. Regulation 74(5) not applicable as all shares held in demat form · Compliance
  2. AGM minutes: 5% dividend, preferential warrants to promoters, director re-appointments · Board & Shareholder Meetings
  3. Re-appointment of Chairman and Whole-time Director for 3 years · Management Changes
All filings ↓
Ask Nexa about COMMERCIAL SYN BAGS LTD

Snapshot

What the business is, and whether it's a good one at a fair price.

AI · written from filings

Manufactures synthetic bags and technical textiles used in industrial packaging. The manufacturing segment generated Rs 381.24 crore in FY26, or 99.3% of segment revenue, with the remaining 0.7% (Rs 2.75 crore) coming from a small 'other' segment. Operations are based at Indore SEZ, Pithampur in Madhya Pradesh, where the existing manufacturing capacity of 24,530 MTPA was running at about 91% utilization before a 1,500 MTPA expansion at the Techtex unit, which commenced commercial production on 22 July 2026. The expansion was funded through internal accruals, share capital and borrowings, with Rs 5 crore invested in the Techtex unit. The company is also expanding through a wholly-owned subsidiary Comsyn India Private Limited and a step-down subsidiary Comsyn International. Raw materials are the largest cost at 49.5% of revenue, followed by employees at 16.9% and other operating expenses at 18.6%, with capex at 10.4% of revenue. FY26 standalone revenue stood at Rs 387.00 crore with an EBITDA margin of 13.08%.

Revenue mix · reported segments
Manufacturing (Segment A)99.3%
Other segment (Segment B)0.7%
Operating scale
Existing manufacturing capacity
24,530 MTPApre-expansion FY26
Techtex capacity addition
1,500 MTPAJuly 2026
Capacity utilization
91%pre-expansion FY26
Manufacturing location
Indore SEZ, Pithampur, Madhya PradeshFY26
Who pays it
Industrial packaging buyers, served through synthetic bag and technical textile products
Biggest cost
Raw materials at 49.5% of revenue
Kind of business
Asset-heavy industrial packaging manufacturer with ongoing capacity expansion
Where it sits
Listed NSE/BSE manufacturer of synthetic bags and technical textiles in the packaging industry
Market Cap
₹843 Cr
P / E (TTM)
28.2×
EV / EBITDA
17.4×
Div Yield
0.19%
Growth
12.6%▲
Revenue 5y CAGR
PAT +17.0% · EBITDA +14.2%
Quality
16.6%▲
ROCE (5y median)
ROE 11.4% (5y median) · margin 13.1%
Leverage
0.68·
Debt / Equity · moderate
Net debt ₹120 Cr
Revenue FY21→FY26
1.8×▲
Margin +1.2 pts
₹214 Cr → ₹387 Cr
Cash conversion
1.16×▲
Operating cash ÷ profit · 5 yrs
₹90 Cr on ₹78 Cr
Moves on a normal day
0.86%·
Median daily move
Last 267 sessions · the yardstick for filing-day moves
Where it sits among 72 Packaging peersBar = share of peers beaten · tick = industry median · latest reported figures
P/E (TTM)#45/64
P/B#57/61
ROCE#15/68
ROE#8/61
Debt / Equity#41/61
EBITDA margin#23/62
Revenue growth#22/61
Profit growth#22/60

Scorecard

Measured from the filed financials, judged against its Packaging peers · as of FY26 — not investment advice

Strengths
Revenue compounding 13% a year over 5 years
Profit compounding 17% a year over 5 years
Returns on capital 16.6% (5-year median)
#15 of 68 in Packaging on the latest reported figures · up from 15.2% in FY21
Over 5 years it reported ₹78 Cr of profit and ₹90 Cr of operating cash — 1.16×
Profit is converting into cash
Concerns
Customers are taking longer to pay — 36 → 62 days of receivables
FY21 → FY26
EPS grew slower than profit — the share count rose (bonus or dilution)

Charts

How has the market priced it — with filings on the timeline?

COMSYN · price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Peers

How does it stack up on valuation, returns and growth?

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Financials

Quarterly & annual P&L, balance sheet, cash flow, ratios and segments.

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Ownership

Who owns it — and is the promoter stake clean?

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Common questions

Answered from COMMERCIAL SYN BAGS LTD's filed financials and exchange disclosures

What does COMMERCIAL SYN BAGS LTD do?

COMMERCIAL SYN BAGS LTD is a Industrial Products company listed on NSE and BSE, trading under the symbol COMSYN.

Is COMMERCIAL SYN BAGS LTD profitable?

Yes. Over the trailing twelve months COMMERCIAL SYN BAGS LTD reported a net profit of ₹30 Cr on revenue of ₹406 Cr.

Does COMMERCIAL SYN BAGS LTD pay a dividend?

Yes. The dividend yield is 0.19% at the current price. It paid out 6% of its profit as dividend in FY26.

Is COMMERCIAL SYN BAGS LTD debt-free?

No. It reported borrowings of ₹120 Cr on its 31 Mar 2026 balance sheet, or net debt of ₹120 Cr after cash. Debt stands at 0.68× equity. That is higher than 67% of its 61 Packaging peers.

Is COMMERCIAL SYN BAGS LTD expensive compared with its peers?

On trailing P/E, COMMERCIAL SYN BAGS LTD ranks 45 of 64 in Packaging — cheaper than 30% of them, against an industry median of 16.2×. This is a position, not a valuation judgement.

How much does the COMMERCIAL SYN BAGS LTD share price move in a day?

On a typical session COMMERCIAL SYN BAGS LTD moves 0.86% — that is the median absolute close-to-close move across its last 267 trading days. MarketPing measures each filing's price reaction against it.

Where can I track COMMERCIAL SYN BAGS LTD's announcements?

Every NSE and BSE filing by COMMERCIAL SYN BAGS LTD appears on this page, AI-summarised, alongside the price reaction that followed it. Follow the company to get each new filing on WhatsApp within minutes.

Figures are as last reported and may lag the latest filing. Not investment advice.