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Commercial Syn Bags Ltd.

BSE: 539986 Sector: Industrials
NSE: N.A. ISIN Code: INE073V01015
BSE LIVE 12:55 | 15 Dec 54.90 8.40
(18.06%)
OPEN

49.20

HIGH

54.90

LOW

49.20

NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 49.20
PREVIOUS CLOSE 46.50
VOLUME 33000
52-Week high 63.90
52-Week low 41.00
P/E 11.41
Mkt Cap.(Rs cr) 65
Buy Price 51.10
Buy Qty 3000.00
Sell Price 55.00
Sell Qty 6000.00
OPEN 49.20
CLOSE 46.50
VOLUME 33000
52-Week high 63.90
52-Week low 41.00
P/E 11.41
Mkt Cap.(Rs cr) 65
Buy Price 51.10
Buy Qty 3000.00
Sell Price 55.00
Sell Qty 6000.00

Commercial Syn Bags Ltd. (COMMERLSYNBAGS) - Chairman Speech

Company chairman speech

Dear Shareholders

It is my privilege to present the 33rd Annual Report of your Company for the FinancialYear ended 31st March 2017. The Financial Year 2016-17 was eventful from the globalnational and company specific perspective. The Company has become listed company ofIndia's most recognized Stock Exchange w.e.f. 14th July 2017 under the SME Platformthrough the Initial Public Issue of 3192000 equity shares of Rs. 10/- each at a premiumof Rs. 14/- aggregating Rs. 766.08 Lakhs which has turnaround the con dence achieved aswell as its presence in the capital market for enhancement of the value of theshareholders as well as public recognition. This year was full of challenges as well asexternal dynamics and economical changes that impacted the operational performance of theCompany.

The Company has achieved growth of 2.68% in its total revenue from operations. Theexport continues to contribute 75% of the total turnover. The Company is striving forenhancing its product portfolio and distribution network as well as making all the effortsfor expanding its presence in global as well as local market. During the Financial Year2016-17 pro tability was decreased due to increased employee costs and loss incurredamounting to Rs. 52.48 Lakhs on demolition of part of the building due to runningexpansion at SEZ which was charged to the statement of Profit & Loss in the currentFinancial Year 2016-17.

During the year your company had also taken some strategic decisions like expansion ofCompany's SEZ Unit at Pithampur (M.P.) by setting up of complete manufacturing facilitiesfor Food Grade/Pharma Grade Bags and FIBC and the same is in progress. Soon aftercompletion of expansion and full edged production at SEZ Unit your company will be ableto expand its customer base and cater to the requirements from food grade/pharma gradesections also. However due to some external factors beyond the control of Management ofCompany; like scarcity of water and skilled labour supply have affected expansionactivities and now it is expected to be completed by end of February 2018. Management ofyour company is trying their best to complete the project well within the period mentionedabove by end of February 2018 positively.

Further that the Company has also taken its rst move towards utilization of green &renewable energy by installation of Solar Power Generation System at Ujaas Solar ParkSitamau (M.P.) on 23rd March 2017. The Electricity as may be generated will be used forcaptive consumption at Company's Manufacturing Units situated at Pithampur (M.P.) whichwill result in operational ef ciency and reduction in power cost.

Further I am happy to share that during the FY 2016-17 the Company was appointed as DelCredre Agent-cum-Consignment Stockist (DCA-cum-CS) of ONGC Petro-additions Limited (OPaL)for Madhya Pradesh at Indore for a period of 3 years vide its letter dated 30th March2017.This will strengthen the presence of your company in domestic market.

Further that I am happy to share that your Company has achieved BRC Certi cation"Grade A" from Intertek Certi cations Limited (a UKAS accredited body for certication) for meeting the requirements as set out in the BRC Global Standard for Packagingand Packaging Materials Issue 5: July 2015 for Company's separate clean room facilitiessituated at Unit-I for manufacturing of packaging material to be used for food and nonfoodapplication.

The Company has gained experience of more than 3 decades and is committed to providebest quality products to its customers at all times. The Company will strive to achieveexcellent performance in ensuing Financial Year and your company believes that ourstrategic initiatives will help us to deliver positive results and the Company willachieve targeted growth in long term.

At the close I would like to thank entire team of COMSYN for their high level ofefforts commitment and dedication.

I would like to place on record my sincere appreciation to the Board of directors fortheir guidance. I would also like to place on record my heartfelt thanks to all thecustomers business associates suppliers Bank of Baroda and Bank of India bankers andauthorities of the BSE and SEBI for their support. Lastly I would like to extend mygratitude towards all our Shareholders for their continuing faith and con dence in themanagement of the Company and I look forward for their support trust and con dence.

With best wishes

Sincerely

Anil Choudhary

Chairman & Managing Director