Commercial Syn Bags Ltd
COMSYNCommercial Syn Bags Ltd's price has outrun its earnings. +104.0% in a year against EPS +52.0% — the market is paying now for delivery later.
The sharpest disagreement: the price moved +104.0% in a year while annual EPS moved +52.0% — the difference is re-rating, and re-rating has to be repaid with earnings.
The price is in a confirmed uptrend (86 weeks in) while the P/E sits at the 94th percentile of its own 6-year range. Underneath, the last four quarters read improving — profit +60.9% year on year, and 90% of the last 3 years' profit arrived as cash. What settles it: whether earnings grow into a price that has already moved.
Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.
Commercial Syn Bags Ltd trades at ₹288, in a confirmed uptrend and 86 weeks into that stage. That is +72.9% against its own 200-day average. It sits at 100% of a 52-week range of ₹138 to ₹288. On relative strength it has been ahead of the NIFTY 500 on a trailing-13-week view for 14 straight weeks.
Today the stock is in a confirmed uptrend — week 86 of stage 2, confirmed. At ₹288 it trades +72.9% versus its 200-day average and sits at 100% of its 52-week range (₹138–₹288).
Against the market, two honest reads. Cumulative: over the last 10.1 years the stock moved +2,401% while the NIFTY 500 moved +227% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock has been ahead for 14 straight weeks — the ribbon below is that same metric, week by week.
What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.
Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.
Commercial Syn Bags Ltd trades at 39.2× P/E, at the pricey end of its own range (94th percentile). Its long-run median P/E is 25.9×, measured across 5.8 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.
Today's P/E of 39.2× is at the pricey end of its own range (94th percentile), against a long-run median of 25.9× measured over 5.8 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.
🚨 Why the multiple sits where it does: over the past year annual EPS moved +52.0% against a +104.0% price move — the price outran earnings, pushing the multiple UP its own range.
The price move, decomposed: over 5y, of the +47.9%/yr price move, ~+17.1%/yr came from earnings growth and ~+30.8 pp from the multiple (expanding). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.
Put together: the multiple is full against its own past, so the story rests on the earnings line underneath it, not the multiple.
A quarterly PEG curve, which only the second data source carries, is not drawn on this page: its two data sources do not share enough overlapping reported history to be compared. A figure nobody could check is not used to price growth — the gap is a decision, not missing data.
What the price assumes This reading works the multiple backwards. It asks one question: what yearly rate of profit growth is a buyer at the market price already paying for? The number is the growth rate that makes eleven years of profit — six years growing, then five fading — add up to that day's market price, once each year is discounted at 11% a year.
At its price on 13 June 2026, Commercial Syn Bags Ltd was priced for profit growth of about 16.8% a year. Profit itself has compounded 15.4% a year over the past 6 years. The market pays that at 39.2× P/E, the 94th percentile of its own 6-year range.
What the two numbers say together. The multiple is full against its own past, and the growth the price is paying for is close to what this company has actually delivered. Both readings sit on the same earnings, so they are one reading rather than two.
How to hold this number: it is a reading of one day's price, taken on 13 June 2026, not a running figure. A higher price is paying for more growth and a lower price for less, so it moves whenever the price does, and this page does not restate it between measurements. Every other number on this page is read off the live quote.
Stage: Mixed Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).
Commercial Syn Bags Ltd reads as mixed on its fundamental arc. Mixed — growth is normalizing off a hyper-growth base: profit growth has eased from +186.1% at its peak to +43.2% but is still expanding, ROCE lifting at 14.0%. The read is built from 8 quarters across 4 curves, on partial evidence.
Why it matters: when the curves disagree, the per-curve reads above matter more than any single verdict.
Return readings here are annual, not quarterly — read as level and direction only; they can confirm the growth curves but never drive the stage on their own.
A partial read: at least one curve is short, or the returns curve is not the computed quarterly series — hold the stage word a little more loosely.
| 1yr | 3yr | 5yr | 10yr | |
|---|---|---|---|---|
| Revenue | +11.5% | +10.1% | +12.7% | — |
| Profit | +52.9% | +48.1% | +16.7% | — |
| EPS | +52.0% | +47.8% | +14.1% | — |
| Share price | +104.0% | +68.3% | +47.9% | +37.5% |
4-Factor Sector Score
69.9/100 — rank 1 of 2 in Packaging - Polysacks · 84% evidence confidence
Commercial Syn Bags Ltd scores 69.9 out of 100 against the 2 companies it is compared with in Packaging - Polysacks, ranking 1. Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
The four contributions add to the total exactly: 28.4 + 13 + 8.5 + 20 = 69.9. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.
What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.
Revenue Revenue is the top line: everything the company billed its customers in the period.
Commercial Syn Bags Ltd reported ₹109 Cr of revenue in the Jun 26 quarter, +20.6% year on year. That is the 8th straight quarter of year-on-year growth. Over 6 years it has compounded at 12.5% a year. The last full year, FY26, came in at ₹387 Cr. The last four reported quarters add to ₹406 Cr.
FY26 revenue came in at ₹387 Cr (+11.5% on the year), capping 6 years at 12.5% compound. The latest quarter (Jun 26) printed ₹109 Cr, +20.6% year on year — the 8th consecutive quarter of year-over-year growth.
Pace check: the last four quarters averaged +12.4% growth against the decade's 12.5% — the current year is running in line with its own long-run rate.
Acceleration check: trailing-twelve-month revenue grew +12.2% over the last 4 quarters against +19.1%/yr over the last 8 — rolling over; TTM profit +43.2% vs +102.4%/yr — rolling over.
Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.
Commercial Syn Bags Ltd's operating margin is 14.4% in the Jun 26 quarter, +2.2 percentage points against the same quarter a year ago. That is the widest this company has ever printed on a full-year basis. Across 7 fiscal years the operating margin has ranged 8.0% to 12.0%. The current quarter is running above every full year in that window.
The latest quarter's operating margin is 14.4%, +2.2 pp against the same quarter a year ago. Across 7 fiscal years the operating margin has ranged 8.0%–12.0%, and FY26's 12.0% is the top of that band — a record year.
Why the margin moved: operating margin went +2.2 pp year on year while gross margin went +1.6 pp — the gain came mostly from the gross line: input costs and pricing.
Worth repeating from the valuation section: cheap against its own history on record margins is not the same thing as cheap — a record margin flatters every ratio built on top of it.
Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.
Commercial Syn Bags Ltd earned ₹8.9 Cr of net profit in the Jun 26 quarter, +60.9% year on year. Full-year FY26 profit was ₹26.0 Cr. The 6-year compound rate is 15.4%. That is 8.2% of the quarter's revenue. The same quarter a year earlier earned ₹5.5 Cr. 1 of the last 12 reported quarters were loss-making.
Jun 26 profit was ₹8.9 Cr, +60.9% year on year. On the full year, FY26 printed ₹26.0 Cr (+52.9%), and the 6-year compound rate is 15.4%.
Why profit moved: revenue contributed +20.6% and the margin +2.2 pp — the quarter was margin-led: most of the profit growth came from keeping more of each sale.
Pace comparison, last four quarters: profit +61.0% vs revenue +12.4%. Profit is growing faster than sales — fixed costs are being spread over a bigger base, and each extra rupee of revenue drops more to the bottom line.
Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.
Over the last 3 fiscal years 90% of Commercial Syn Bags Ltd's reported profit arrived as operating cash — the cash follows the profit. In FY26 that was ₹39.0 Cr of operating cash against ₹26.0 Cr of profit. After ₹41.0 Cr of capital spending, ₹−2.0 Cr was left as free cash.
FY26: operating cash of ₹39.0 Cr against reported profit of ₹26.0 Cr, leaving free cash of ₹−2.0 Cr after ₹41.0 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 90% of profit.
Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.
Why conversion sits at 90%: the cash cycle tightened 19 days between FY21 and FY26 — cash that used to wait in the cycle now reaches the bank sooner.
Router verdict: the bigger cash user is investment — capital spending ran 1.6× depreciation over three years, so the next section's job is to check what that build-out is buying.
Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).
Commercial Syn Bags Ltd's cash conversion cycle runs 171 days in FY26, down from 190 days in FY21. Capital spending ran ₹51.0 Cr over the last 3 years. At FY26 sales of ₹387 Cr each day of that cycle holds about ₹1.1 Cr, so roughly ₹181 Cr sits inside the business at any moment.
FY26: debtors at 62 days, inventory at 149 days — roughly 4.9 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 171 days, tighter than FY21's 190.
The full loop: cash goes out to suppliers and production on day 0; stock waits 149 days to sell; customers pay about 62 days after that; and suppliers themselves are paid at 40 days — netting out to the 171-day cycle.
In money terms: at FY26 sales of ₹387 Cr, each day of the cycle holds about ₹1.1 Cr — so the 171-day loop keeps roughly ₹181 Cr sitting inside the business at any moment.
On the investment side: capital spending of ₹51.0 Cr over the last 3 fiscal years against ₹31.0 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹26.0 Cr (FY26) — capacity paid for but not yet earning.
The synthesis: the cash is going into capacity, not disappearing into the cycle — the question becomes whether the new capacity earns.
Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.⚠ unverified
Commercial Syn Bags Ltd earns a ROCE of 14% in FY26. That is up from a trough of 8% in FY23. Return on invested capital clears the cost of that capital by −0.8 percentage points, so growth here is not yet paying for the capital it uses. The wiring behind it is 6.7% net margin on 1.08× asset turns.
FY26 ROCE is 14%, recovered from a FY23 trough of 8% — the full ladder below shows the fall and the climb, undoctored.
🚨 Why the return is what it is — the wiring (FY26): 6.7% net margin × 1.08× asset turns × 2.02× balance-sheet leverage ≈ 14.6% on equity. Margin does its share; leverage is a meaningful part of the equation.
The capstone test — ROIC − WACC: 11.2% − 12.0% = a −0.8 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. Negative — growth at these returns destroys value until the returns recover.
Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.⚠ unverified
Commercial Syn Bags Ltd carries total debt of ₹129 Cr against shareholder equity of ₹178 Cr as of Mar 26, a debt-to-equity of 0.72. On the annual view that ratio went from 0.79 in FY22 to 0.72 in FY26. Read the returns elsewhere on this page with that leverage in mind.
Mar 26: total debt of ₹129 Cr against shareholder equity of ₹178 Cr — a debt-to-equity of 0.72. On the annual view, debt-to-equity went from 0.79 (FY22) to 0.72 (FY26). Read the returns on this page with that leverage in mind.
Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.
No holder of Commercial Syn Bags Ltd moved a full percentage point over the last two years — the register is quiet. Domestic institutions moved +0.1 points over the same window, to 0.1%. The register is read on the four disclosed classes only; nothing is inferred between filings.
The register over the last two years — Promoters: +0.4 points over 8 quarters to 59.2%; Domestic institutions: +0.1 points over 8 quarters to 0.1%; Foreign institutions: +0.0 points over 8 quarters to 0.0%.
Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.
Commercial Syn Bags Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.
The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.
| Company | Score | Price stage | Growth & earnings/35 | Capital efficiency/25 | Valuation/20 | Relative strength/20 |
|---|---|---|---|---|---|---|
| 1Commercial Syn Bags Ltdthis pageCOMSYN | 69.9/100Favorable setup84% evidence | BREAKING OUT | 28.4/35 Revenue 12.2% · PAT 43.1% · OPM change 2.2 pp 95% evidence | 13.0/25 ROCE 13.9% · OPM 14.4% 95% evidence | 8.5/20 P/E 39.2× · PEG — 35% evidence | 20.0/20 RS sector 15.5% · RS bench 73.9% · 1Y 116.1%7 of 12 weeks ahead 100% evidence |
| Exact sum: 28.4 + 13 + 8.5 + 20 = 69.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 2Kanpur Plastipack LtdKANPRPLA | 56.5/100Mixed-positive evidence77% evidence | TURNING | 27.7/35 Revenue 12.1% · PAT 100% · OPM change 1 pp 95% evidence | 13.8/25 ROCE 17% · OPM 8% 95% evidence | 10.0/20 P/E 13.6× · PEG — 0% evidence | 5.0/20 RS sector -18.6% · RS bench 23.5% · 1Y 22.8%3 of 12 weeks ahead 100% evidence |
| Exact sum: 27.7 + 13.8 + 10 + 5 = 56.5 · Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -18.6% and the one-year return is 22.8%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth. | ||||||
Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step curve the sector itself is placed on — basing, turning, breaking out, leader, fading, asleep — read from how many weeks running it has led NIFTY 500 and whether that lead is widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.
Frequently asked questions
What is Commercial Syn Bags Ltd's share price today?
Commercial Syn Bags Ltd trades at ₹288, +104.0% over the past year. The company is valued at ₹1,163 Cr. The stock sits at the very top of its 52-week range (₹138–₹288), +72.9% versus its 200-day average. On the tape, the price is in a confirmed uptrend, 86 weeks in. — as of 14 August 2026.
What were Commercial Syn Bags Ltd's latest quarterly results?
Commercial Syn Bags Ltd reported revenue of ₹109 Cr and net profit of ₹8.9 Cr for the Jun 26 quarter. Revenue rose 20.6% and profit rose 60.9% year on year. Earnings per share were ₹2.21. The operating margin was 14.4%, 2.2 pp higher than a year earlier. — as of 14 August 2026.
What is Commercial Syn Bags Ltd's revenue?
Commercial Syn Bags Ltd reported revenue of ₹109 Cr in the Jun 26 quarter, +20.6% year on year. For the full FY26 fiscal year, revenue was ₹387 Cr (+11.5%). Over the last 6 years revenue compounded at 12.5% a year. — as of 14 August 2026.
What is Commercial Syn Bags Ltd's profit?
Commercial Syn Bags Ltd earned ₹8.9 Cr of net profit in the Jun 26 quarter, +60.9% year on year. Full-year FY26 profit was ₹26.0 Cr. The operating margin ran 14.4% in the latest quarter. — as of 14 August 2026.
What is Commercial Syn Bags Ltd's market cap?
Commercial Syn Bags Ltd's market capitalisation is ₹1,163 Cr at a share price of ₹288. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 14 August 2026.
What is Commercial Syn Bags Ltd's P/E ratio?
Commercial Syn Bags Ltd trades at a P/E of 39.2×, at the 94th percentile of its own 6-year range, against a long-run median of 25.9×. This is a comparison with the stock's own history, not a value call — as of 14 August 2026.
Does Commercial Syn Bags Ltd pay a dividend?
Not in its latest year — Commercial Syn Bags Ltd's dividend payout was 0% of profit in FY26. It did record a payout in 4 of its last 7 reported fiscal years, so there is a history but no current dividend. — as of 14 August 2026.
Is Commercial Syn Bags Ltd overvalued?
On its own history, Commercial Syn Bags Ltd looks expensive: its P/E of 39.2× sits at the 94th percentile of its 6-year range (long-run median 25.9×). That is a percentile read against the stock's own past, not a price opinion or a direction call. One caveat: margins are the best this company has ever printed — cheap on record margins is not the same thing as cheap. — as of 14 August 2026.
Is Commercial Syn Bags Ltd growing?
Yes — Commercial Syn Bags Ltd is growing: latest-quarter revenue +20.6% year on year, profit +60.9%, and the margin +2.2 pp at 14.4%. The 6-year compound rates are 12.5% (revenue) and 15.4% (profit). The earnings engine currently reads: improving — as of 14 August 2026.
How is Commercial Syn Bags Ltd performing?
Commercial Syn Bags Ltd is in a confirmed uptrend, 86 weeks in. Its latest quarter's revenue rose 20.6% and profit rose 60.9% year on year. Against the NIFTY 500 it has been ahead on a trailing-13-week view for 14 weeks. This describes what the data did, not a rating. — as of 14 August 2026.
What stage is Commercial Syn Bags Ltd in?
Mixed — growth is normalizing off a hyper-growth base: profit growth has eased from +186.1% at its peak to +43.2% but is still expanding, ROCE lifting at 14.0%. The read comes from the last 12 quarters of growth (revenue growth +12.2% latest, profit growth +43.2% latest, eps growth +42.4% latest) plus the ROCE curve, classified by deterministic rules — a trajectory read, not a buy or sell call — as of 14 August 2026.
Is Commercial Syn Bags Ltd in an uptrend?
Yes — the price is in a confirmed uptrend (week 86 of stage 2), trading +72.9% versus its 200-day average and at the very top of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 14 August 2026.
Is Commercial Syn Bags Ltd beating the market?
On recent form, yes — Commercial Syn Bags Ltd has been ahead of the NIFTY 500 on a trailing-13-week view for 14 straight weeks, the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 10.1 years the stock moved +2,401% against the NIFTY 500's +227% — ahead of the index over the full window. — as of 14 August 2026.
Will Commercial Syn Bags Ltd's share price go up?
This page publishes no price forecast for Commercial Syn Bags Ltd. What it measures instead: the share price is ₹288, the price is in a confirmed uptrend 86 weeks in. Its P/E of 39.2× sits at the 94th percentile of its own 6-year range. — as of 14 August 2026.
Who owns Commercial Syn Bags Ltd?
Promoters hold 59.2% of Commercial Syn Bags Ltd, foreign institutions 0.0%, domestic institutions 0.1% and the public 40.8% (latest quarter). No holder moved a full point over the last two years — the register is quiet. — as of 14 August 2026.
Does Commercial Syn Bags Ltd have too much debt?
It is moderate — Commercial Syn Bags Ltd's debt-to-equity is 0.73, and operating profit covers the interest bill 5×. FY26 borrowings were ₹129 Cr against equity of ₹177 Cr. Read the returns on this page with that leverage in mind — as of 14 August 2026.
What is Commercial Syn Bags Ltd's capex?
Commercial Syn Bags Ltd spent ₹51.0 Cr on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY26 alone that was ₹41.0 Cr, with ₹26.0 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 14 August 2026.
What is Commercial Syn Bags Ltd's cash flow?
Commercial Syn Bags Ltd generated ₹39.0 Cr of operating cash flow in FY26 and ₹−2.0 Cr of free cash flow after ₹41.0 Cr of capital spending. Reported profit that year was ₹26.0 Cr, so operating cash ran ahead of profit. Cash-flow resolution for India is annual. — as of 14 August 2026.
Is Commercial Syn Bags Ltd's profit real cash?
Yes — over the last 3 fiscal years, 90% of Commercial Syn Bags Ltd's reported profit arrived as operating cash. In FY26, operating cash was ₹39.0 Cr against reported profit of ₹26.0 Cr. The cash then goes mostly into building capacity. Cash-flow resolution is annual — as of 14 August 2026.
Where is Commercial Syn Bags Ltd in its business cycle?
Commercial Syn Bags Ltd's FY26 operating margin was 12.0%, against a 7-year band of 8.0%–12.0%: the top of the band — a record year. Record profitability is late-cycle territory: every ratio flatters at the top, and the story leans on margins holding. The latest quarter ran 14.4%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 14 August 2026.
What growth does Commercial Syn Bags Ltd's price assume?
At its price on 13 June 2026, Commercial Syn Bags Ltd was priced for profit growth of about 16.8% a year. Profit itself has compounded 15.4% a year over the past 6 years. The figure reads the multiple backwards: the growth a buyer at that price was already paying for. — as of 14 August 2026.
What could break the Commercial Syn Bags Ltd story?
The sharpest disagreement: the price moved +104.0% in a year while annual EPS moved +52.0% — the difference is re-rating, and re-rating has to be repaid with earnings. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 14 August 2026.
Is Commercial Syn Bags Ltd a stock worth studying right now?
This is not investment advice. The machine read: Commercial Syn Bags Ltd's price has outrun its earnings. +104.0% in a year against EPS +52.0% — the market is paying now for delivery later. The sharpest open question: whether earnings grow into a price that has already moved. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 14 August 2026.