Commercial Syn Bags Limited (COMSYN) AI Stock Analysis

• Market Cap: ₹6.62B
• Dividend Yield: 0.27%
• Average Volume (3M): 1.66K
• Price to Earnings (P/E): 25.9
• Beta (1Y): 0.26
• Revenue Growth: 22.68%
• EPS Growth: 200.90%
• Country: IN
• Employees: 2,437
• Sector: Consumer Goods
• Sector Strength: N/A
• Industry: Packaging & Containers
• EPS (TTM): 2.11
• Shares Outstanding: 39,952,200
• 10 Day Avg. Volume: 1,482
• 30 Day Avg. Volume: 1,664
• PEG Ratio: 0.15
• Price to Book (P/B): 2.05
• Price to Sales (P/S): 0.88
• P/FCF Ratio: -36.63
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 58 Neutral
• Price Target: ₹172.00 ▲(10.93% Upside)

The overall stock score for Commercial Syn Bags Limited is primarily influenced by its strong financial performance, particularly in revenue growth and profitability. However, significant concerns in cash flow management and bearish technical indicators weigh down the score. The valuation is neutral, with a fair P/E ratio but low dividend yield, offering limited appeal to income-focused investors.

Positive Factors

Revenue Growth

Sustained high revenue growth signals expanding demand and successful market penetration across agriculture, industrial and retail channels. Over 2-6 months this supports scale economies, reinvestment capacity and resilience against sector cyclicality.

Margin Profile

Robust gross and healthy EBIT/EBITDA margins point to efficient manufacturing and pricing power in synthetic packaging. These structural margins help absorb input cost swings and sustain profitability over the medium term, supporting cash generation potential if conversion improves.

Diversified Product & Customer Mix

A broad product range and multi-industry customer base reduce single-market exposure and support steadier demand. Custom solutions and sustainable packaging focus enhance customer stickiness and increase likelihood of long-term contracts and recurring revenue.

Negative Factors

Weak Cash Conversion

Negative free cash flow and very low operating cash conversion indicate earnings are not translating into liquidity. This limits ability to fund capex, service debt or pursue growth without external financing, increasing medium-term financial vulnerability.

Low Return on Equity

A relatively low ROE despite a substantial equity base suggests inefficient capital use or weaker net profitability. Persistently low ROE can hinder shareholder value creation and limit capacity to raise equity on favorable terms over the coming months.

Moderate Leverage with Cash Strain

A moderate D/E of 0.76 combined with poor cash conversion elevates debt servicing risk if earnings weaken. Leverage reduces financial flexibility and may constrain investment or increase funding costs until operating cash flows sustainably improve.

Commercial Syn Bags Limited Business Overview & Revenue Model

Company Description

Commercial Syn Bags Limited (COMSYN) is a leading manufacturer and supplier of high-quality synthetic bags and packaging solutions, primarily serving the agricultural, industrial, and retail sectors. The company specializes in producing a wide range of products, including bulk bags, custom packaging solutions, and specialty bags designed to meet the specific needs of its diverse clientele. With a commitment to sustainability and innovation, COMSYN focuses on delivering durable and eco-friendly packaging solutions that enhance product protection and streamline logistics.

How the Company Makes Money

COMSYN generates revenue through multiple key streams, primarily by selling its synthetic packaging products to various industries, including agriculture, construction, and retail. The company offers both standard and custom solutions, allowing it to cater to a wide range of customer needs, which helps to diversify its revenue base. Additionally, COMSYN may enter into strategic partnerships with distributors and retailers to expand its market reach and enhance sales. The company also focuses on securing long-term contracts with large clients, which provides a steady income flow. Factors contributing to its earnings include the growing demand for sustainable packaging solutions, the ability to offer competitive pricing through efficient manufacturing processes, and a robust supply chain that minimizes operational costs.

Commercial Syn Bags Limited Financial Statement Overview

Summary

Commercial Syn Bags Limited exhibits strong revenue growth and profitability, with healthy margins indicating efficient operations. The balance sheet is stable with moderate leverage, but the low return on equity suggests room for improvement. Cash flow management is a key area of concern, with negative free cash flow and low conversion of income to cash, which could impact future financial flexibility.

Income Statement

Commercial Syn Bags Limited has shown a strong revenue growth rate of 8.81% in the latest year, indicating a positive trajectory. The gross profit margin of 47.02% and net profit margin of 4.92% reflect solid profitability, although there is room for improvement in net margins. The EBIT and EBITDA margins are healthy at 8.85% and 11.38%, respectively, suggesting efficient operational management.

Balance Sheet

The company's debt-to-equity ratio of 0.76 indicates a moderate level of leverage, which is manageable but should be monitored. The equity ratio of 48.78% demonstrates a strong equity base relative to total assets, providing stability. However, the return on equity is relatively low, suggesting potential inefficiencies in generating returns from equity.

Cash Flow

The cash flow statement reveals challenges, with negative free cash flow and a concerning free cash flow to net income ratio of -8.24. The operating cash flow to net income ratio is low at 0.84%, indicating potential issues in converting income into cash. The negative free cash flow growth rate highlights the need for improved cash management.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	3.61B	3.48B	2.88B	2.90B	3.23B	2.12B
Gross Profit	1.69B	1.64B	1.28B	1.26B	1.10B	1.03B
EBITDA	435.95M	395.91M	295.63M	244.63M	365.07M	260.01M
Net Income	207.40M	171.21M	78.58M	80.87M	183.08M	119.83M
Balance Sheet
Total Assets	0.00	3.08B	2.73B	2.26B	2.22B	1.97B
Cash, Cash Equivalents and Short-Term Investments	16.44M	67.80M	4.64M	620.00K	6.73M	23.79M
Total Debt	0.00	1.15B	1.09B	755.34M	839.05M	860.78M
Total Liabilities	-1.50B	1.58B	1.44B	1.06B	1.16B	1.18B
Stockholders Equity	1.50B	1.50B	1.29B	1.21B	1.06B	786.98M
Cash Flow
Free Cash Flow	0.00	-83.83M	-63.79M	-52.19M	-121.24M	-275.44M
Operating Cash Flow	0.00	10.17M	60.95M	376.05M	63.09M	-88.20M
Investing Cash Flow	0.00	-2.10M	-288.09M	-298.77M	-74.77M	-172.15M
Financing Cash Flow	0.00	3.78M	231.15M	-83.38M	-5.38M	280.57M

Commercial Syn Bags Limited Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 155.05
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:COMSYN, the sentiment is Positive. The current price of 155.05 is above the 20-day moving average (MA) of 152.72, above the 50-day MA of 146.84, and above the 200-day MA of 135.61, indicating a bullish trend. The MACD of 3.54 indicates Negative momentum. The RSI at 72.99 is Negative, neither overbought nor oversold. The STOCH value of 96.56 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:COMSYN.

Commercial Syn Bags Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TPLPLASTEH	71 Outperform	₹4.76B	18.23	―	1.49%	14.78%	19.77%
KANPRPLA	66 Neutral	₹4.10B	15.94	―	0.52%	23.02%	―
SAH	63 Neutral	₹1.80B	122.00	―	―	7.47%	104.95%
EMMBI	60 Neutral	₹1.80B	23.54	―	0.29%	11.97%	-29.32%
RPPL	60 Neutral	₹1.16B	10.30	―	―	10.14%	73.18%
COMSYN	58 Neutral	₹6.62B	25.89	―	0.27%	22.68%	200.90%
Sector *	57 Neutral	$3.13B	9.23	-34.32%	3.14%	-25.56%	-353.61%