COMSYN

Commercial Syn Bags Limited

FIBC, woven sacks, tarpaulin and other flexible packaging products

Industrials›Capital Goods›Industrial Products›Packaging

comsyn.com(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹251.40
Market cap
1,055 Cr
Stock P/E
34.2
P/B
5.71
Dividend yield
0.2%
ROE (FY26)
14.8%
ROCE (FY26)
13.4%
Operating margin (FY26)
9.6%
Debt / equity (FY26)
0.68
OCF / EBITDA (FY26)
81.1%
OCF / EBITDA (3Y)
41.7%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

Commercial Syn Bags (COMSYN) manufactures FIBC (flexible intermediate bulk containers), woven sacks and bags, tarpaulin, pond liners and other plastic products, and is headquartered in Indore, Madhya Pradesh.

Company snapshot

13thBy market cap

Ranked among 33 companies in Packaging.

Segment mix

Reportable segments as of 2024-12-31 (Consolidated). Revenue share = segment revenue ÷ total revenue.

Largest segment: 99.3% of revenue

SegmentRevenue shareRevenuePBTAssets
Segment -A Manufacturing
99.3%
86 Cr6 Cr287 Cr
Segment-B other Segment
0.7%
0.61 Cr0.60 Cr16 Cr

What we see

Concerns
  • ✗Only 42% of operating profit came in as cash over the last three years — much of it is tied up in unpaid bills or stock.

Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales68 Cr71 Cr70 Cr77 Cr87 Cr86 Cr98 Cr91 Cr98 Cr97 Cr101 Cr109 Cr
Operating expenses (approx.)61 Cr67 Cr61 Cr70 Cr79 Cr77 Cr86 Cr79 Cr85 Cr85 Cr89 Cr93 Cr
EBITDA7 Cr4 Cr9 Cr7 Cr8 Cr9 Cr11 Cr11 Cr13 Cr12 Cr12 Cr16 Cr
OPM %10.9%5.6%12.6%8.9%9.1%10.9%11.6%12.2%13.2%12.4%11.8%14.4%
Other income0.56 Cr0.24 Cr2 Cr0.85 Cr0.80 Cr0.13 Cr2 Cr0.71 Cr0.36 Cr0.15 Cr1 Cr0.80 Cr
Interest2 Cr2 Cr3 Cr2 Cr2 Cr3 Cr2 Cr2 Cr2 Cr2 Cr2 Cr2 Cr
Depreciation3 Cr3 Cr3 Cr3 Cr3 Cr3 Cr0.52 Cr3 Cr3 Cr3 Cr3 Cr3 Cr
Profit before tax3 Cr-0.20 Cr5 Cr2 Cr4 Cr4 Cr11 Cr7 Cr9 Cr7 Cr8 Cr12 Cr
Tax %27.1%-28.2%37.2%19.3%7.7%16.3%26.1%15.5%2.0%18.3%22.0%22.4%
Net profit2 Cr-0.25 Cr3 Cr2 Cr4 Cr4 Cr8 Cr6 Cr8 Cr6 Cr6 Cr9 Cr
EPS (₹)₹0.58₹-0.06₹0.81₹0.48₹0.90₹0.88₹2.02₹1.39₹2.11₹1.50₹1.59₹2.21

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales214 Cr323 Cr290 Cr288 Cr348 Cr387 CrSign in free for the trailing twelve months
Operating expenses (approx.)189 Cr289 Cr267 Cr262 Cr312 Cr339 CrSign in free for the trailing twelve months
EBITDA25 Cr34 Cr24 Cr27 Cr36 Cr48 CrSign in free for the trailing twelve months
OPM %11.6%10.4%8.1%9.3%10.2%12.4%Sign in free for the trailing twelve months
Other income1 Cr4 Cr2 Cr3 Cr4 Cr3 CrSign in free for the trailing twelve months
Interest4 Cr7 Cr6 Cr8 Cr9 Cr9 CrSign in free for the trailing twelve months
Depreciation8 Cr9 Cr10 Cr11 Cr9 Cr11 CrSign in free for the trailing twelve months
Profit before tax15 Cr21 Cr9 Cr11 Cr21 Cr31 CrSign in free for the trailing twelve months
Tax %17.4%13.6%14.5%26.8%20.0%14.1%Sign in free for the trailing twelve months
Net profit12 Cr18 Cr8 Cr8 Cr17 Cr26 CrSign in free for the trailing twelve months
EPS (₹)₹10.14₹15.48₹2.08₹1.97₹4.29₹6.59Sign in free for the trailing twelve months
Dividend payout %14.8%12.9%34.6%0.0%0.0%6.1%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital12 Cr12 Cr40 Cr40 Cr40 Cr40 Cr
Reserves67 Cr93 Cr81 Cr89 Cr110 Cr137 Cr
Borrowings84 Cr84 Cr76 Cr101 Cr107 Cr120 Cr
Other liabilities34 Cr32 Cr30 Cr44 Cr51 Cr61 Cr
Total liabilities197 Cr222 Cr226 Cr273 Cr308 Cr358 Cr
Fixed assets (net)87 Cr94 Cr99 Cr108 Cr100 Cr104 Cr
CWIP0.30 Cr0 Cr13 Cr0.11 Cr2 Cr26 Cr
Investments0.0063 Cr-0.04 Cr-0.16 Cr22 Cr23 Cr24 Cr
Loans & advances0.08 Cr0.07 Cr0.07 Cr0.16 Cr12 Cr0.27 Cr
Inventories57 Cr59 Cr58 Cr72 Cr81 Cr83 Cr
Trade receivables21 Cr36 Cr28 Cr42 Cr46 Cr65 Cr
Cash & bank2 Cr0.67 Cr0.06 Cr0.46 Cr2 Cr0.47 Cr
Other assets29 Cr32 Cr29 Cr27 Cr43 Cr56 Cr
Total assets197 Cr222 Cr226 Cr273 Cr308 Cr358 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity-9 Cr6 Cr38 Cr6 Cr1 Cr39 Cr
Cash from investing-17 Cr-7 Cr-30 Cr-29 Cr-0.21 Cr-45 Cr
Cash from financing28 Cr-0.54 Cr-8 Cr23 Cr0.38 Cr5 Cr
Net cash flow2 Cr-2 Cr-0.61 Cr0.40 Cr1 Cr-1 Cr
Free cash flow (OCF − Capex)-28 Cr-12 Cr38 Cr-6 Cr-8 Cr-3 Cr

Ratios

MetricMar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %11.3%14.6%8.0%8.3%12.0%13.4%
ROE %15.2%17.3%6.7%6.1%11.4%14.8%
Debtor days364035544861
Inventory days179124138166160157
Days payable353236393742
Cash conversion cycle181132137180172177
OCF / EBITDA %-35.6%18.8%159.3%22.8%2.9%81.1%
OCF / EBITDA % (3 years)——42.8%59.6%52.1%41.7%
Debt / equity1.060.790.630.780.710.68
Current ratio1.351.561.671.281.361.27
Net debt / EBITDA3.292.483.203.742.962.49