Commercial Syn Bags Limited , a manufacturer of FIBC, PP Fabric, Woven Sacks & Tarpaulin, has released its financial results for the quarter ended June 30, 2020, revealing the impact of the COVID-19 pandemic on its operations.

Financial Performance

The company reported revenue from operations of Rs 3,502.04 lakhs for the quarter, marking a 14.2% decrease compared to Rs 4,081.56 lakhs in the same quarter of the previous year. Net profit also saw a slight decline, dropping to Rs 214.89 lakhs from Rs 229.06 lakhs year-over-year, representing a 6.2% decrease.

COVID-19 Impact

Commercial Syn Bags acknowledged that its operations were significantly impacted by the COVID-19 pandemic during the quarter. The company faced increased operational costs as a result of the challenging business environment.

Business Segments

The company operates in three main segments:

1. Manufacturing and sale of various bags and fabrics
2. Trading of granules
3. Solar power generation

Commercial Syn Bags maintains a 1.0 MW solar power project for captive consumption, demonstrating its commitment to sustainable energy practices.

New Developments

Subsidiary Formation

On August 26, 2020, the company formed a wholly-owned subsidiary named 'Comsyn India Private Limited', potentially expanding its operational capabilities.

Unit-II Project Delay

The company reported delays in a new project at Unit-II. The capital investment for this project has reached Rs 1,662 lakhs, exceeding the estimated cost of Rs 1,500 lakhs. Commercial Syn Bags expects commercial production at this unit to commence in September 2020.

Looking Ahead

Despite the challenges posed by the COVID-19 pandemic, Commercial Syn Bags Limited continues to move forward with its expansion plans. The company's diverse product portfolio and investments in solar power generation may help in navigating the current economic uncertainties.

As the situation evolves, stakeholders will be watching closely to see how the company adapts to the changing market conditions and whether the commencement of the new Unit-II project will contribute to improved performance in the coming quarters.

Commercial Syn Bags Limited has announced significant board decisions, including the re-appointment of key directors and a dividend recommendation, following a board meeting held on September 4, 2025.

Director Re-appointments

The board has approved the re-appointment of two directors, subject to shareholder approval at the upcoming Annual General Meeting (AGM):

1. Shri Virendra Singh Pamecha (DIN: 07456367) has been re-appointed as Whole-time Director & Key Managerial Personnel (KMP) for a further period of three years, effective March 26, 2026. Pamecha, aged 56, brings over three decades of experience in manufacturing, marketing, and administrative functions to the company.

2. Shri Vijay Kumar Bansal (DIN: 09002441) has been re-appointed as an Independent Director for a second term of five consecutive years, from February 14, 2026, to February 13, 2031. Bansal, aged 63, holds a Post Graduate Diploma in Management from IIM Ahmedabad and has 37 years of experience in the petrochemical industry with IPCL/RIL.

Both directors have confirmed that they have not been debarred from holding directorial positions by SEBI or any other authority.

Dividend Recommendation

The board has recommended a final dividend of Rs. 0.40 per equity share (4%) for the financial year 2024-25, subject to shareholder approval at the upcoming AGM. The dividend, if approved, will be paid to shareholders whose names appear in the company's records as of September 22, 2025, which has been set as the record date.

Other Key Decisions

Secretarial Auditor Appointment

The board has approved the appointment of M/s Ishan Jain & Co., Company Secretaries, as the Secretarial Auditor for a period of five consecutive years, from FY 2025-26 through FY 2029-30, subject to shareholder approval.

Annual General Meeting

The 41st AGM of the company is scheduled for September 29, 2025, at 1:00 PM, to be held through Video Conferencing and Other Audio Visual Means (VC/OAVM).

E-voting

The company will provide remote e-voting facilities for the AGM, with voting to commence on September 26, 2025, at 9:00 AM and conclude on September 28, 2025, at 5:00 PM.

Commercial Syn Bags Limited, with its registered office in Indore, Madhya Pradesh, continues to strengthen its corporate governance and reward its shareholders as it moves forward in the packaging industry.