Commercial Syn Bags Limited has submitted press clipping related to its Q3FY26 standalone and consolidated unaudited financial results under Regulation 47(1) of SEBI (LODR) Regulations, 2015. The company filed the compliance document with BSE Limited and National Stock Exchange of India Limited on 6th February 2026.

Regulatory Compliance Filing

The company submitted the press clipping pursuant to Regulation 30 read with Schedule III Part A(A) and in compliance with Regulation 47(1) of the SEBI (LODR) Regulations, 2015. The financial results for the quarter and nine months ended 31st December 2025 were approved in the 09/2025-26 meeting of the Board of Directors held on Thursday, 5th February 2026 at 5:00 P.M. at the registered office of the company.

Press Publication Details

The company published the extract of its financial results in newspapers on 6th February 2026. The advertisement was published in Free Press Journal (English) and Chotha Sansar (Hindi) newspapers, ensuring compliance with regulatory requirements for public disclosure.

Stock Exchange Communication

The filing was submitted to both major stock exchanges where the company is listed. BSE Limited received the communication at Phiroze Jeejeebhoy Tower, Dalal Street, Mumbai with BSE code 539986, while National Stock Exchange of India Limited received it at Exchange Plaza, Bandra Kurla Complex with NSE symbol COMSYN.

Company Secretary Certification

The document was digitally signed by CS Sandeep Patel, Company Secretary, on 6th February 2026 at 14:29:15 +05'30', ensuring proper authorization and compliance with digital signature requirements for regulatory filings.

Q3FY26 Financial Highlights

The published financial extract shows the company's performance for the quarter and nine months ended 31st December 2025, with detailed standalone and consolidated results including revenue from operations, profit figures, and earnings per share metrics as required under SEBI disclosure norms.

Commercial Syn Bags Limited has received credit rating reaffirmation from ICRA Limited for its bank facilities worth ₹141.00 crore, as announced through a regulatory filing dated January 22, 2026. The rating agency has maintained its assessment of the company's creditworthiness while noting improvements in operational performance and ongoing expansion plans.

Credit Rating Details

ICRA Limited reaffirmed the credit ratings for Commercial Syn Bags' various bank facilities totaling ₹141.00 crore. The rating action maintains the total facility amount while redistributing allocations across different categories.

Financial Performance Highlights

ICRA noted significant improvement in Commercial Syn Bags' financial performance during FY2025 and H1 FY2026. The company achieved revenue growth of 20.60% year-on-year in FY2025 and 15.50% year-on-year in H1 FY2026, driven by robust demand in export markets and improved realizations from value-added products.

The operating profit margin improved to 12.70% in H1 FY2026 from 10.20% in FY2025 and 8.80% in FY2024. The capacity utilization of the geo-textiles plant also showed improvement, rising from 31.00% in FY2024 to 58.00% in FY2025 and further to 74.00% in H1 FY2026.

Rating Rationale and Business Strengths

The rating reaffirmation reflects Commercial Syn Bags' established market position in the flexible intermediate bulk container (FIBC) bags segment and its diversified end-user industries. The company benefits from extensive promoter experience of over three decades in the packaging industry and maintains strong business relationships with key customers and suppliers.

Key business advantages include:

• Diversified product portfolio including FIBC bags, woven sacks, tarpaulin, and technical textiles
• Multiple end-user industries including cement, chemicals, agro-commodities, and infrastructure
• Appointed del credere associate cum consignment stockist status for ONGC Petro Additions Limited
• Increasing focus on value-added products like food grade bags and customized solutions

Expansion Plans and Challenges

Commercial Syn Bags has announced significant capacity expansion plans of approximately 12,300 MTPA over FY2026-28, requiring capital expenditure of ₹83.00 crore. The expansion will focus on manufacturing pharma grade bags and fabrics, funded through a mix of debt (₹56.00 crore), internal accruals, and equity (₹27.00 crore).

However, ICRA highlighted certain constraints including modest scale of operations with revenues of ₹347.80 crore in FY2025, working capital-intensive operations, and vulnerability to polypropylene granule price fluctuations. The company also faces stiff competition in the fragmented packaging industry, which limits pricing flexibility.

Liquidity and Future Outlook

ICRA assessed the company's liquidity position as adequate, with sanctioned fund-based working capital limits of ₹85.00 crore and average utilization of 78.00% in the 12 months ending November 2025. The company has scheduled debt repayment obligations of ₹8.70 crore over the 12-month period ending September 30, 2026.

The Stable outlook on the [ICRA]BBB rating reflects ICRA's expectation that Commercial Syn Bags will continue benefiting from healthy export demand and increasing focus on value-added products, while maintaining moderate debt coverage metrics during the planned expansion phase.