Integrated Filing — IndAS



General information about company
Scrip Code 539986
NSE Symbol COMSYN
MSEI Symbol NOTLISTED
ISIN INE073V01015
Name of company COMMERCIAL SYN BAGS LIMITED
Type of company Main Board
Class of security Equity
Date of start of financial year 01-Apr-2024
Date of end of financial year 31-Mar-2025
Date of board meeting when results were approved 30-May-2025
Date on which prior intimation of the meeting for considering financial results was informed to the exchange 23-May-2025
Description of presentation currency INR (in Actuals)
Reporting Type Quarterly
Reporting Quarter Fourth quarter
Nature of report standalone or consolidated Consolidated
Whether results are audited or unaudited for the quarter ended Audited
Whether results are audited or unaudited for the Year to date for current period ended/year ended Audited
Segment Reporting Multi segment
Description of single segment
Start date and time of board meeting 30-May-2025   17:00:00
End date and time of board meeting 30-May-2025   21:35:00
Whether cash flow statement is applicable on company Yes
Type of cash flow statement Cash Flow Indirect
Declaration of unmodified opinion or statement on impact of audit qualification Declaration of unmodified opinion



Financial Results Ind-AS
Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-Jan-2025 01-Apr-2024
B Date of end of reporting period 31-Mar-2025 31-Mar-2025
C Whether results are audited or unaudited Audited Audited
D Nature of report standalone or consolidated Consolidated Consolidated
Part I Blue color marked fields are non-mandatory. For Consolidated Results, if the company has no figures for 3 months / 6 months ended, in such case zero shall be inserted in the said column.
1 Income
Revenue from operations 977860000 3478195000
Other income 22508000 40287000
Total income 1000368000 3518482000
2 Expenses
(a) Cost of materials consumed 478757000 1830669000
(b) Purchases of stock-in-trade 21994000 70142000
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade 57315000 -58078000
(d) Employee benefit expense 154459000 583316000
(e) Finance costs 22030000 93605000
(f) Depreciation, depletion and amortisation expense 5190000 88177000
(f) Other Expenses
1 Other Expenses 151476000 696520000
Total other expenses 151476000 696520000
Total expenses 891221000 3304351000
3 Total profit before exceptional items and tax 109147000 214131000
4 Exceptional items 0 0
5 Total profit before tax 109147000 214131000
6 Tax expense
7 Current tax 18360000 38707000
8 Deferred tax 10085000 4217000
9 Total tax expenses 28445000 42924000
10 Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement 0 0
11 Net Profit Loss for the period from continuing operations 80702000 171207000
12 Profit (loss) from discontinued operations before tax 0 0
13 Tax expense of discontinued operations 0 0
14 Net profit (loss) from discontinued operation after tax 0 0
15 Share of profit (loss) of associates and joint ventures accounted for using equity method 0 0
16 Total profit (loss) for period 80702000 171207000
17 Other comprehensive income net of taxes 5912000 5912000
18 Total Comprehensive Income for the period 86614000 177119000
19 Total profit or loss, attributable to
Profit or loss, attributable to owners of parent 0 0
Total profit or loss, attributable to non-controlling interests 0 0
20 Total Comprehensive income for the period attributable to
Comprehensive income for the period attributable to owners of parent 0 0
Total comprehensive income for the period attributable to owners of parent non-controlling interests 0 0
21 Details of equity share capital
Paid-up equity share capital 399522000 399522000
Face value of equity share capital 10 10
27 Details of debt securities
22 Reserves excluding revaluation reserve 1133374000
23 Earnings per share
i Earnings per equity share for continuing operations
Basic earnings (loss) per share from continuing operations 2.02 4.29
Diluted earnings (loss) per share from continuing operations 2.02 4.29
ii Earnings per equity share for discontinued operations
Basic earnings (loss) per share from discontinued operations 0 0
Diluted earnings (loss) per share from discontinued operations 0 0
ii Earnings per equity share
Basic earnings (loss) per share from continuing and discontinued operations 2.02 4.29
Diluted earnings (loss) per share from continuing and discontinued operations 2.02 4.29
24 Debt equity ratio
25 Debt service coverage ratio
26 Interest service coverage ratio
27 Disclosure of notes on financial results Textual Information(1)



Disclosure of notes on financial results
Textual Information(1) Notes to Audited Consolidated Financial Results for the quarter and year ended on 31st March 2025 n n1tThe standalone financial results have been prepared in accordance with the Companies Indian Accounting Standard Rule 2015 IndAS as prescribed under Section 133 of the Companies Act 2013 and other recognized accounting practices and policies to the extend applicable nSmartlift Bulk Packaging Limited is a private limited company limited by shares incorporated in England and Wales and domiciled at United Kingdom Smartlift Bulk Packaging Ireland Limited is a wholly owned subsidiary of Smartlift Bulk Packaging Limited is a company limited by shares incorporated and registered in the Republic of Ireland and domiciled at Ireland n n2tThe figures for the last quarter are the balancing figures between audited figures in respect of full financial year upto 31st March 2025 and unaudited published year to date figures upto 31st December 2024 being the date of end of the third quarter of financial year respectively which were subject to limited review n n3tThe audited consolidated financial results of the Group comprises of results of parent Commercial Syn Bags Limited its wholly owned subsidiary Comsyn India Private Limited and its associate Smartlift Bulk Packaging Limited in UK along with its wholly owned subsidiary Smartlift Bulk Packaging Ireland Limited Ireland The audited results of Commercial Syn Bags and Comsyn India Private Limited and un audited results of Smartlift Bulk Packaging Limited and its wholly owned subsidiary for the quarter and year ended on 31st March 2025 have been approved and recommended by the Audit Committee and thereafter approved by the Board of Directors at its meeting held on 30th May 2025 n n4tStatutory Auditors of the Company have carried out Audit of the books of Accounts for the Financial Year 2024 2025 and issued us an Audit Report with unmodified opinion n n5tThe Company operates in three segments ie a Manufacture and sale of FIBC Bulk Bags Poly Tarpaulin Woven Sacks Bags Box Bags PP HDPE Fabric Liner and b Trading of Granules c Solar Power generation nThe segment for Manufacture and sale of FIBC Bulk Bags Poly Tarpaulin Woven Sacks Bags Box Bags PP HDPE Fabric and Liner meets the quantitative thresholds and is considered as reportable segment Financial information of other segments b and c have been shown in All other Segments as these do not fall within the criteria for segmental report as on 31st March 2025 n n6tPrevious Year and Previous Quarter figures have been regrouped reclassified wherever necessary to confirm to this period classification n n7tThe Company has solar power project of 1 MW for Captive Consumption of power n n8tSome balances of Trade Receivables and recoverable shown under Assets and Trade and Other Payables shown under Liabilities include balances subject to confirmation/reconciliation and consequential adjustments if any However reconciliations are carried out on ongoing basis The management does not expect any material adjustment in the books of accounts as a result of the reconciliation n n9tThe Company manufacturing unit Techtex situated at Plot No A12 and A13 Indore Special Economic Zone, Pithampur Phase 2 Dhar Madhya Pradesh is yet to achieve its optimum capacity n n10tThe members of the Company at its 01 2024 25 Extra Ordinary General Meeting held on 10th January 2025 has approved the increase in the Authorised Capital of the Company from existing Rs 4000 Lakhs to Rs 4250 Lakhs and consequent alteration of the Memorandum of Association of the Company Further the member of the Company has also authorised the Board of Directors of the Company for issuance of 2000000 warrants of Rs 72 each convertible into equity shares of Rs 10 each at a premium of Rs 62 per share on a preferential basis to the promoters and promoters group of the Company nThe Company has received in principal approval for issuance of the warrants on preferential basis from NSE and BSE and the Board of Directors, in its meeting held on 20th March 2025 allotted 2000000 convertible warrants of Rs 72 per warrants to the promoters and promoter group The Company has received 25 percent upfront money ie Rs 360 Lakhs and utilized the same as per the object of the preferential issue. n n11tThe Company has further acquired 1 percent ie 10 shares in Smartlift Bulk Packaging Limited, U.K. by payment of agreed consideration of GBP 43500 to Mr Trevor William Bland With this acquisition the Company now holds 50 percent of the paid up share capital of Smartlift Bulk Packaging Limited n n12t The Company has filed an appeal before the Commissioner Appeals Indore against the order passed by Assistant Commissioner Customs for failure to fulfil the export obligation and non submission of EODC thereby demanding the Custom Duty with interest and penalty The matter is remanded back to the Assistant Commissioner Customs and the case is finally adjudicated in favour of Company dropping the demand, interest and penalty The Company received back the amount deposited in appeal along with interest n n13tComsyn India Private Limited a wholly owned subsidiary of the Company has acquired 100 percent equity shareholding of Erawat Vegcap Private Limited through a Share Purchase Agreement SPA dated 12th April 2025 for a total consideration of Rs 551 Lakhs nFollowing the completion of this transaction Erawat Vegcap Private Limited has become a wholly owned subsidiary of Comsyn India Private Limited. Consequently Commercial Syn Bags Limited is the ultimate holding company of Erawat Vegcap Private Limited n



Remarks
Debt equity ratio
Debt service coverage ratio
Interest service coverage ratio


Statement of Asset and Liabilities
Particulars Year ended (dd-mm-yyyy)
Date of start of reporting period 01-Apr-2024
Date of end of reporting period 31-Mar-2025
Whether results are audited or unaudited Audited
Nature of report standalone or consolidated Consolidated
Assets
1 Non-current assets
Property, plant and equipment 997233000
Capital work-in-progress 16455000
Investment property 0
Goodwill 0
Other intangible assets 14000
Intangible assets under development 0
Biological assets other than bearer plants 0
Investments accounted for using equity method 0
Non-current financial assets
Non-current investments 234874000
Trade receivables, non-current 0
Loans, non-current 102581000
Other non-current financial assets 59770000
Total non-current financial assets 397225000
Deferred tax assets (net) 0
Other non-current assets 4959000
Total non-current assets 1415886000
2 Current assets
Inventories 807177000
Current financial asset
Current investments 0
Trade receivables, current 461770000
Cash and cash equivalents 16486000
Bank balance other than cash and cash equivalents 44136000
Loans, current 115499000
Other current financial assets 7177000
Total current financial assets 645068000
Current tax assets (net) 23534000
Other current assets 185149000
Total current assets 1660928000
3 Non-current assets classified as held for sale 0
4 Regulatory deferral account debit balances and related deferred tax Assets 0
Total assets 3076814000
Equity and liabilities
1 Equity
Equity attributable to owners of parent
Equity share capital 399522000
Other equity 1100957000
Total equity attributable to owners of parent 1500479000
Non controlling interest 0
Total equity 1500479000
2 Liabilities
Non-current liabilities
Non-current financial liabilities
Borrowings, non-current 201415000
Trade payables, non-current
(A) Total outstanding dues of micro enterprises and small enterprises 0
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 0
Total Trade payable 0
Other non-current financial liabilities 78076000
Total non-current financial liabilities 279491000
Provisions, non-current 43446000
Deferred tax liabilities (net) 35632000
Deferred government grants, Non-current 0
Other non-current liabilities 0
Total non-current liabilities 358569000
Current liabilities
Current financial liabilities
Borrowings, current 867167000
Trade payables, current
(A) Total outstanding dues of micro enterprises and small enterprises 36112000
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 149363000
Total Trade payable 185475000
Other current financial liabilities 2557000
Total current financial liabilities 1055199000
Other current liabilities 131494000
Provisions, current 0
Current tax liabilities (Net) 31073000
Deferred government grants, Current 0
Total current liabilities 1217766000
3 Liabilities directly associated with assets in disposal group classified as held for sale 0
4 Regulatory deferral account credit balances and related deferred tax liability 0
Total liabilities 1576335000
Total equity and liabilites 3076814000
Disclosure of notes on assets and liabilities



Format for Reporting Segmenet wise Revenue, Results and Capital Employed along with the company results
Particulars 3 months/ 6 month ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
Date of start of reporting period 01-Jan-2025 01-Apr-2024
Date of end of reporting period 31-Mar-2025 31-Mar-2025
Whether accounts are audited or unaudited Audited Audited
Nature of report standalone or consolidated Consolidated Consolidated
1 Segment Revenue (Income)
(net sale/income from each segment should be disclosed)
1 Segment -A Manufacturing 969745000 3451018000
2 Segment-B other Segment 8115000 27177000
Total Segment Revenue 977860000 3478195000
Less: Inter segment revenue 0 0
Revenue from operations 977860000 3478195000
2 Segment Result
Profit (+) / Loss (-) before tax and interest from each segment
1 Segment -A Manufacturing 123618000 281845000
2 Segment-B other Segment 7559000 25891000
Total Profit before tax 131177000 307736000
i. Finance cost 22030000 22030000
ii. Other Unallocable Expenditure net off Unallocable income 0 0
Profit before tax 109147000 214131000
3 (Segment Asset - Segment Liabilities)
Segment Asset
1 Segment -A Manufacturing 2898490000 2898490000
2 Segment-B other Segment 178324000 178324000
Total Segment Asset 3076814000 3076814000
Un-allocable Assets 0 0
Net Segment Asset 3076814000 3076814000
4 Segment Liabilities
Segment Liabilities
1 Segment -A Manufacturing 1488698000 1488698000
2 Segment-B other Segment 87637000 87637000
Total Segment Liabilities 1576335000 1576335000
Un-allocable Liabilities 0 0
Net Segment Liabilities 1576335000 1576335000
Disclosure of notes on segments



Other Comprehensive Income
Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-Jan-2025 01-Apr-2024
B Date of end of reporting period 31-Mar-2025 31-Mar-2025
C Whether results are audited or unaudited Audited Audited
D Nature of report standalone or consolidated Consolidated Consolidated
Other comprehensive income [Abstract]
1 Amount of items that will not be reclassified to profit and loss
1 Item that will not be classified to Profit and loss 7016000 7016000
Total Amount of items that will not be reclassified to profit and loss 7016000 7016000
2 Income tax relating to items that will not be reclassified to profit or loss 1104000 1104000
3 Amount of items that will be reclassified to profit and loss
Total Amount of items that will be reclassified to profit and loss
4 Income tax relating to items that will be reclassified to profit or loss 0 0
5 Total Other comprehensive income 5912000 5912000



Cash flow statement, indirect
Particulars Year ended (dd-mm-yyyy)
A Date of start of reporting period 01-Apr-2024
B Date of end of reporting period 31-Mar-2025
C Whether results are audited or unaudited Audited
D Nature of report standalone or consolidated Consolidated
Part I Blue color marked fields are non-mandatory.
Statement of cash flows
Cash flows from used in operating activities
Profit before tax 214131000
Adjustments for reconcile profit (loss)
Adjustments for finance costs 93605000
Adjustments for decrease (increase) in inventories -85729000
Adjustments for decrease (increase) in trade receivables, current -41419000
Adjustments for decrease (increase) in trade receivables, non-current 0
Adjustments for decrease (increase) in other current assets -128670000
Adjustments for decrease (increase) in other non-current assets 4468000
Adjustments for other financial assets, non-current 3464000
Adjustments for other financial assets, current -121089000
Adjustments for other bank balances -3588000
Adjustments for increase (decrease) in trade payables, current 14553000
Adjustments for increase (decrease) in trade payables, non-current 0
Adjustments for increase (decrease) in other current liabilities 21173000
Adjustments for increase (decrease) in other non-current liabilities 0
Adjustments for depreciation and amortisation expense 88177000
Adjustments for impairment loss reversal of impairment loss recognised in profit or loss 1278000
Adjustments for provisions, current -4627000
Adjustments for provisions, non-current 9221000
Adjustments for other financial liabilities, current -2239000
Adjustments for other financial liabilities, non-current -200000
Adjustments for unrealised foreign exchange losses gains 0
Adjustments for dividend income 0
Adjustments for interest income 23347000
Adjustments for share-based payments 0
Adjustments for fair value losses (gains) 0
Adjustments for undistributed profits of associates 0
Other adjustments for which cash effects are investing or financing cash flow 0
Other adjustments to reconcile profit (loss) 3730000
Other adjustments for non-cash items 7016000
Share of profit and loss from partnership firm or association of persons or limited liability partnerships -17993000
Total adjustments for reconcile profit (loss) -182216000
Net cash flows from (used in) operations 31915000
Dividends received 0
Interest paid 0
Interest received 0
Income taxes paid (refund) 21742000
Other inflows (outflows) of cash 0
Net cash flows from (used in) operating activities 10173000
Cash flows from used in investing activities
Cash flows from losing control of subsidiaries or other businesses 0
Cash flows used in obtaining control of subsidiaries or other businesses 8368000
Other cash receipts from sales of equity or debt instruments of other entities 0
Other cash payments to acquire equity or debt instruments of other entities 0
Other cash receipts from sales of interests in joint ventures 0
Other cash payments to acquire interests in joint ventures 3367000
Cash receipts from share of profits of partnership firm or association of persons or limited liability partnerships 0
Cash payment for investment in partnership firm or association of persons or limited liability partnerships 0
Proceeds from sales of property, plant and equipment 73237000
Purchase of property, plant and equipment 94007000
Proceeds from sales of investment property 0
Purchase of investment property 0
Proceeds from sales of intangible assets 0
Purchase of intangible assets 0
Proceeds from sales of intangible assets under development 0
Purchase of intangible assets under development 0
Proceeds from sales of goodwill 0
Purchase of goodwill 0
Proceeds from biological assets other than bearer plants 0
Purchase of biological assets other than bearer plants 0
Proceeds from government grants 0
Proceeds from sales of other long-term assets 0
Purchase of other long-term assets 17993000
Cash advances and loans made to other parties 0
Cash receipts from repayment of advances and loans made to other parties 0
Cash payments for future contracts, forward contracts, option contracts and swap contracts 0
Cash receipts from future contracts, forward contracts, option contracts and swap contracts 0
Dividends received 10939000
Interest received 37455000
Income taxes paid (refund) 0
Other inflows (outflows) of cash 0
Net cash flows from (used in) investing activities -2104000
Cash flows from used in financing activities
Proceeds from changes in ownership interests in subsidiaries 0
Payments from changes in ownership interests in subsidiaries 0
Proceeds from issuing shares 0
Proceeds from issuing other equity instruments 36000000
Payments to acquire or redeem entity's shares 0
Payments of other equity instruments 0
Proceeds from exercise of stock options 0
Proceeds from issuing debentures notes bonds etc 0
Proceeds from borrowings -107558000
Repayments of borrowings -170664000
Payments of lease liabilities 7862000
Dividends paid 0
Interest paid 87465000
Income taxes paid (refund) 0
Other inflows (outflows) of cash 0
Net cash flows from (used in) financing activities 3779000
Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes 11848000
Effect of exchange rate changes on cash and cash equivalents
Effect of exchange rate changes on cash and cash equivalents 0
Net increase (decrease) in cash and cash equivalents 11848000
Cash and cash equivalents cash flow statement at beginning of period 4638000
Cash and cash equivalents cash flow statement at end of period 16486000





Details of Impact of Audit Qualification
Whether results are audited or unaudited Audited
Declaration of unmodified opinion or statement on impact of audit qualification Declaration of unmodified opinion
Auditor's opinion
Declaration pursuant to Regulation 33 (3) (d) of SEBI (LODR) Regulation, 2015: The company declares that its Statutory Auditor/s have issued an Audit Report with unmodified opinion for the period on Standalone results Yes
Sr No. Audit firm's name Whether the firm holds a valid peer review certificate issued by Peer Review Board of ICAI Certificate valid upto
1 Ashok Kumar Agrawal and Associates Yes 31-Jul-2027