Value Added Product Mix Shift
Expected: FY26-28HIGH confidence
What: Pharma grade capacity: 12,300 MTPA
Commercial Syn Bags Ltd: Stock Analysis & Fundamentals
Data from 4w agoCommercial Syn Bags Ltd (Packaging - Polysacks) — fundamental analysis, earnings data, and key metrics. PE: 23.6. ROE: 12.3%. This stock is not currently in the Nifty 500 momentum outperformers list.
Commercial Syn Bags Ltd Key Facts
Earnings Acceleration Triggers
1. Value Added Product Mix Shift
FY26-28HIGH
2. Market Share Gains
FY26MEDIUM
Key Risks
1. Vulnerability to volatile polypropylene (PP) and HDPE granule prices which are l
HIGH2. High freight costs on export sales, which account for over 70% of revenue
MEDIUMSector-Specific Signals
Export Revenue Contribution70%Stable
Total Manufacturing Capacity20,630 MTPAPlanned expansion to ~33,000
PP/HDPE Granule ExposureHighIncreasing
Debt to EBITDA Ratio3.39xElevated
Key Numbers
Current Price
₹164
Dividend Yield
0.24%
Market Cap
661 Cr
Valuation
N/AWhy Are Commercial Syn Bags Ltd's Earnings Accelerating?
Based on Q3 FY26 (web) earnings • Updated Apr 19, 2026
Market Share Gains
Expected: FY26MEDIUM confidence
What: Volume growth: 10%
What Are the Key Risks for Commercial Syn Bags Ltd?
Earnings deceleration risks from management commentary
Vulnerability to volatile polypropylene (PP) and HDPE granule prices which are l
HIGHTrigger: Vulnerability to volatile polypropylene (PP) and HDPE granule prices which are linked to crude oil.
Management view: Passing on costs to B2B customers where possible.
Monitor: commodity
High freight costs on export sales, which account for over 70% of revenue
MEDIUMTrigger: High freight costs on export sales, which account for over 70% of revenue.
Impact: PAT impact: ₹3.51 Cr (FY24 base)
Management view: Focusing on efficient logistics and regionalization.
Monitor: logistics
What Did Commercial Syn Bags Ltd Report This Quarter?
Headline numbers from the latest earnings call
Revenue
₹97.63 Cr
YoY +12.7%QoQ -1.19%
Revenue grew year-on-year driven by volume expansion but saw a marginal sequential dip.
PAT
₹6.00 Cr
YoY +70.45%QoQ -28.74%
Profitability showed significant annual improvement but faced sequential pressure likely due to rising raw material costs.
Other Highlights
• Net profit margin jumped 51.25% year-on-year to 6.15% in Q3 FY26.
• Standalone net profit for the quarter ended Dec 31, 2025, reached ₹6.25 crore.
• Board meeting held on Feb 5, 2026, approved the unaudited financial results.
What Sector Metrics Matter for Commercial Syn Bags Ltd?
Sub-sector-specific signals from the latest concall — each with management's stated reason for the change
Export Revenue Contribution
70%
YoY Stable
Why: The company maintains a strong global footprint across six continents.
Total Manufacturing Capacity
20,630 MTPA
YoY Planned expansion to ~33,000
Why: Ongoing capex of ₹83 crore to add 12,300 MTPA capacity for pharma grade products.
PP/HDPE Granule Exposure
High
YoY Increasing
Why: Granule prices are highly sensitive to crude oil fluctuations, impacting gross margins.
Debt to EBITDA Ratio
3.39x
YoY Elevated
Why: Reflects the debt-heavy nature of the current expansion phase.
What Is Commercial Syn Bags Ltd's Management Guidance?
Forward-looking targets from management for Q4 FY26
OPM Guidance
8%
Capex Plan
₹83 Cr
Revenue Outlook
Rs 185 Cr (Q4 estimate)
Margin Outlook
Targeting high single-digit EBITDA margins
Capex Plan
₹83.00 Cr
Capacity expansion of 12,300 MTPA for pharma grade bags
Volume
Positive volume trajectory expected
Management Tone: BULLISH
The above analysis is parsed from publicly available earnings call transcripts. This is educational research only — not investment advice. Last updated Apr 19, 2026.
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Frequently Asked Questions: Commercial Syn Bags Ltd
Based on publicly available financial data. This is educational research, not investment advice.
What were Commercial Syn Bags Ltd's latest quarterly results?
Commercial Syn Bags Ltd's latest quarterly results (Dec 2025) show
- PAT Growth YoY: +70.5%
- Revenue Growth YoY: +12.7%
- Operating Margin: 12.4%
What is Commercial Syn Bags Ltd's current PE ratio?
Commercial Syn Bags Ltd's current PE ratio is 23.6x.
- Current PE: 23.6x
- Market Cap: 661 Cr
- Dividend Yield: 0.24%
What is Commercial Syn Bags Ltd's price-to-book ratio?
Commercial Syn Bags Ltd's price-to-book ratio is 4.0x.
- Price-to-Book (P/B): 4.0x
- Book Value per Share: ₹41
- Current Price: ₹164
Is Commercial Syn Bags Ltd a fundamentally strong company?
Commercial Syn Bags Ltd's fundamental strength based on key financial ratios
- Return on Capital (ROCE): 12.0%
Is Commercial Syn Bags Ltd debt free?
Commercial Syn Bags Ltd has a debt-to-equity ratio of N/A.
- Total Debt: ₹115 Cr
What is Commercial Syn Bags Ltd's return on equity (ROE) and ROCE?
Commercial Syn Bags Ltd's return ratios over recent years
- FY2023: ROCE 8.0%
- FY2024: ROCE 9.0%
- FY2025: ROCE 12.0%
Is Commercial Syn Bags Ltd's cash flow positive?
Commercial Syn Bags Ltd's operating cash flow is positive (FY2025).
- Cash from Operations (CFO): ₹1 Cr
- CFO/PAT Ratio: 6% (weak cash conversion)
What is Commercial Syn Bags Ltd's dividend yield?
Commercial Syn Bags Ltd's current dividend yield is 0.24%.
- Dividend Yield: 0.24%
- Current Price: ₹164
Who holds Commercial Syn Bags Ltd shares — promoters, FII, DII?
Commercial Syn Bags Ltd's shareholding pattern (Mar 2026)
- Promoters: 59.2%
- FII (Foreign): 0.2%
- DII (Domestic): 0.1%
- Public: 40.6%
Is promoter holding increasing or decreasing in Commercial Syn Bags Ltd?
Commercial Syn Bags Ltd's promoter holding has increased recently.
- Current Promoter Holding: 59.2% (Mar 2026)
- Previous Quarter: 58.8% (Dec 2025)
- Change: +0.39% (increasing — positive signal)
Is Commercial Syn Bags Ltd a new momentum entry or an established outperformer?
Commercial Syn Bags Ltd is an established outperformer with 1 weeks of consecutive Nifty 500 outperformance.
What are the growth catalysts for Commercial Syn Bags Ltd?
Commercial Syn Bags Ltd has 2 key growth catalysts identified from recent earnings analysis
- Value Added Product Mix Shift — Shift toward pharma-grade FIBCs significantly improves margins and reduces commodity cyclicality.
- Market Share Gains — Consistent volume growth indicates market share gains in the fragmented packaging sector.
What are the key risks in Commercial Syn Bags Ltd?
Commercial Syn Bags Ltd has 2 key risks worth monitoring
- [HIGH] Vulnerability to volatile polypropylene (PP) and HDPE granule prices which are l — Vulnerability to volatile polypropylene (PP) and HDPE granule prices which are linked to crude oil.
- [MEDIUM] High freight costs on export sales, which account for over 70% of revenue — High freight costs on export sales, which account for over 70% of revenue.
What is Commercial Syn Bags Ltd's management guidance for growth?
Commercial Syn Bags Ltd's management has provided the following forward guidance for Q4 FY26
- Revenue outlook: Rs 185 Cr (Q4 estimate)
- OPM guidance: 8%
- Capex plan: ₹83 Cr for Capacity expansion of 12,300 MTPA for pharma grade bags
- Management tone: bullish
What sector-specific metrics matter most for Commercial Syn Bags Ltd?
Commercial Syn Bags Ltd's most important sub-sector-specific KPIs from the latest concall
- Export Revenue Contribution: 70% (YoY Stable) — The company maintains a strong global footprint across six continents.
- Total Manufacturing Capacity: 20,630 MTPA (YoY Planned expansion to ~33,000) — Ongoing capex of ₹83 crore to add 12,300 MTPA capacity for pharma grade products.
- PP/HDPE Granule Exposure: High (YoY Increasing) — Granule prices are highly sensitive to crude oil fluctuations, impacting gross margins.
- Debt to EBITDA Ratio: 3.39x (YoY Elevated) — Reflects the debt-heavy nature of the current expansion phase.
Is Commercial Syn Bags Ltd worth studying for long term investment?
Based on quantitative research signals, here is why Commercial Syn Bags Ltd may be worth studying
- Cash flow is positive — CFO ₹1 Cr
What is the investment thesis for Commercial Syn Bags Ltd?
Commercial Syn Bags Ltd investment thesis summary:
Research Signals (Bull Case)
- Growth catalyst: Value Added Product Mix Shift
Risk Factors (Bear Case)
- Key risk: Vulnerability to volatile polypropylene (PP) and HDPE granule prices which are l
What is the future outlook for Commercial Syn Bags Ltd?
Commercial Syn Bags Ltd's forward outlook based on current data signals
- Key Catalyst: Value Added Product Mix Shift
- Key Risk: Vulnerability to volatile polypropylene (PP) and HDPE granule prices which are l
The above FAQs are generated from publicly available earnings data and conference call transcripts. This is educational research only. Sector Alpha is not SEBI registered and does not provide investment advice.