Commercial Syn Bags Ltd

Standalone performance

• Standalone Q1 FY27 revenue from operations Rs 10,830.19 Lakh; total income Rs 10,963.88 Lakh.
• PBT Rs 1,136.66 Lakh; Net profit Rs 968.17 Lakh; EPS Basic Rs 2.40.
• Cost of materials consumed Rs 6,640.18 Lakh; Total expenses Rs 9,827.22 Lakh.
• Segment A revenue 10,819.34 Lakh; Segment B revenue 10.85 Lakh.
• EPS Diluted Rs 2.31.
• Expansion: Techtex Unit expansion commenced commercial production on 22 Jul 2026.
• Company operates three segments: FIBC/plastic products; Granules trading; Solar power.
• Solar power project: 1.0 MW for captive consumption.

Consolidated performance

• Consolidated revenue from operations Rs 10,912.57 Lakh; total income Rs 10,992.25 Lakh.
• Profit after tax (consolidated) Rs 893.31 Lakh; EPS Basic Rs 2.21; Diluted Rs 2.13.
• Consolidated segment assets: Manufacturing Rs 35,606.24 Lakh; Other Segments Rs 1,338.72 Lakh.
• Total consolidated segment revenue Rs 10,912.57 Lakh; PBT before tax Rs 1,151.15 Lakh.

Capex & capacity expansion

• Expansion capex: Techtex Unit expansion commenced commercial production on 22 Jul 2026.
• SEZ unit expansion underway; operations to commence in due course.
• CWIP capitalization of expansion in balance sheet.

Funding & cap actions

• Warrants: 20,00,000 convertible warrants allotted; 25% upfront Rs 360 Lakhs received.
• 3,87,000 warrants converted into equity; no further fund inflows in Q1 2026.
• MPIDC land lease dispute; construction halted; writ petition filed; High Court proceedings ongoing.
• NH Act notification; 99-year lease subject to final order.

Business model & segments

• Manufacturing: FIBC, woven sacks, tarpaulin, pond liner, liner and other plastics.
• Trading: Granules.
• Solar power: Captive consumption generation.

Risks & milestones

• Land lease dispute with MPIDC could impact project timelines.
• Interim relief prohibits dispossession pending court decision.
• Solar project and SEZ expansion remain ongoing capex and operating milestones.

Expanded Techtex capacity update

• Expanded capacity at Plot A-12 & A-13, Indore SEZ, Pithampur Phase-II, Dhar, Madhya Pradesh.
• Machine testing completed; trial run commenced on 15 July 2026.
• Commercial production expected to commence on or before 22 July 2026, subject to stabilization.

demat/remat applicability

• Regulation 74(5) not applicable; all shares are in demat form, per certificate.
• No dematerialisation or rematerialisation requests were received during the period.
• Certificate confirming non-applicability is based on records maintained by the registrar and transfer agent.
• No other material actions or notices related to demat/remat were reported.
• The company has not communicated any exceptions, delays, or non-compliance related to Regulation 74(5).

Meeting Details

• Board meeting scheduled for 30 May 2026.
• Meeting will be held at the company's registered office in Indore.

Key Agenda Items

• Approve audited standalone and consolidated financial results for quarter/year ended 31 March 2026.
• Review statutory auditors' report on the audited standalone and consolidated results.
• Approve audited standalone and consolidated financial statements for year ended 31 March 2026.

Other Notes

• Trading window closed from 1 April 2026 until 48 hours after results declaration.

Equity Allotment

• Allotted 3,87,000 equity shares at Rs. 10 face value with Rs. 62 premium each
• Shares allotted to Pravi Investments LLP, a promoter group entity
• Allotment follows conversion of warrants issued on 20th March 2025
• Received Rs. 2.09 crore as balance amount for 3,87,000 warrants conversion

Preferential Issue Details

• Issued 3,87,000 convertible warrants at Rs. 72 per warrant on preferential basis
• Aggregate consideration for warrants issued is Rs. 2.79 crore
• Post conversion, Pravi Investments LLP holds 15,84,906 equity shares
• Outstanding warrants for conversion total 16,13,000 across five holders

Warrant Conversion

• Received conversion intimation from warrant holder on 24th March 2026
• Company received remaining 75% payment for warrants by 30th March 2026