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Commercial Syn Bags Ltd.

BSE: 539986 Sector: Industrials
NSE: N.A. ISIN Code: INE073V01015
BSE 00:00 | 24 Apr 42.50 2.20
(5.46%)
OPEN

42.00

HIGH

42.50

LOW

42.00

NSE 05:30 | 01 Jan Commercial Syn Bags Ltd
OPEN 42.00
PREVIOUS CLOSE 40.30
VOLUME 6000
52-Week high 46.00
52-Week low 30.15
P/E 7.77
Mkt Cap.(Rs cr) 50
Buy Price 41.00
Buy Qty 3000.00
Sell Price 42.35
Sell Qty 3000.00
OPEN 42.00
CLOSE 40.30
VOLUME 6000
52-Week high 46.00
52-Week low 30.15
P/E 7.77
Mkt Cap.(Rs cr) 50
Buy Price 41.00
Buy Qty 3000.00
Sell Price 42.35
Sell Qty 3000.00

Commercial Syn Bags Ltd. (COMMERLSYNBAGS) - Chairman Speech

Company chairman speech

CHAIRMAN’S MESSAGE

Dear Shareholders

It is my privilege to present the 34th Annual Report of your Company for the nancialyear ended 31st March 2018. The Financial Year 2017-18 was backed by various economicreforms. As per Economic Survey released by the Govt. a series of major reformsundertaken over the past year allowed real GDP growth to reach 6.7% this scal and willrise to 7.0 to 7.5 percent in 2018-19 thereby re-instating India as the world‘sfastest growing major economy and moved it to the world’s Top 100 countries in termsof ease of doing business.

Your company recorded a stellar performance for this nancial year with the growth inrevenues and pro ts. For Financial Year 2017-18 total revenue has grown to Rs. 16156.62Lakhs from Rs. 12098.16 Lakhs in previous year registering growth of 33.55%. Pro t beforetax also recorded growth to Rs. 898.20 Lakhs from Rs. 758.84 Lakhs in previous year anincrease of 18.36% and net pro t after tax stood at Rs. 615.93 Lakhs as compared to Rs.531.70 Lakhs in previous year growth of 15.84%.The export sales continue to contributemore than 75% of total sales from manufacturing segment and company’s customer baseis spread in all the continents except Antarctica.

Further I am pleased to inform that commercial production at company’s SEZ Unithas been successfully commenced w.e.f. 22nd April 2018 after completion of expansionactivities and capacity addition of 3900 MT p.a. by setting up of complete manufacturingfacilities and installation of Tape Line and Looms with clean room facilities formanufacturing of Food Grade FIBC Bags. The total production capacity (all units) of thecompany has been increased from 13100 MT p.a. to 17000 MT p.a. Thus your company hasadequate production capacity to meet the increased demand of the customers.

Further I am happy to share that the company has been appointed as ProjectImplementing Agency (PIA)/Training Partner and assigned the work of execution andimplementation of the skill development programme under Deen Dayal Upadhyaya GrameenKaushalya Yojana (DDU-GKY) a skill development and placement initiative of the Ministryof Rural Development (MoRD) Government of India. It is a part of the National RuralLivelihood Mission (NRLM) - tasked with the dual objectives of adding diversity to theincomes of rural poor families and cater to the career aspirations of rural youth. Total1540 candidates belonging to rural areas of various districts of Uttar Pradesh will becovered under this project and will be provided industrial and job oriented training bythe company at training centre established for the purpose at Nawabganj District Gonda(UP). As your company works in a labour oriented industry this move will help the companyto get better trained work force for its operations.

Your company always focuses on operational ef ciency and reduction in cost for which ithas also taken some initiatives in previous years. During the year under review 14.33Lakhs units of Electricity were generated through 1.0 MW (1.2 MW peak (p) Solar PowerGenerating System at Ujaas Solar Park Sitamau (MP) and used as captive consumption atcompany’s manufacturing units at Pithampur. Further that during the year under reviewyour Company has achieved turnover of 11989 MT under trading operations as DCA cum CS ofONGC Petro additions Limited (OPaL) and strengthened its presence in domestic market.

Having more than 3 decades of industry expertise and sector knowledge your company haswide range of products in its basket which caters to customers across the globe. At yourcompany Research & Development is an on-going process which allows us to understandand respond to market and customer needs. We strive to develop new product lines anddistribution channels to expand company’s global as well as local market. Yourcompany endeavor to maintain state of art infrastructure which consists of machineriesfrom the best suppliers in Industry. There is continuous change in the technology thattakes place and our team strives to keep itself updated with technological advancements.Company’s fully integrated food grade manufacturing facility for FIBC is one of thebest in India.

The way ahead is lled with numerous opportunities. We are committed to exceptionalstandards of productivity corporate governance willingness to embrace new ideas andlearn continuously. Your company’s global scale of operations quality and wide rangeof products building trusted relationships with customers adequate production capacitydiversi ed manufacturing facilities and various strategic initiatives will surely help usto achieve excellent performance and sustainable growth in years ahead.

At the end I would like to thank entire team of the COMSYN for an outstanding yearwhich is re ective of their hard work dedication and commitment to success.

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 bankers and authorities of the BSE SEBI NSDLCDSL and RTA for their support. Lastly I would like to extend my gratitude towards allour Shareholders for their continuing faith and con dence in the management of theCompany; we aim to earn your trust every day and will work towards achieving the greaterheights of success in coming years.

With best wishes

Sincerely

Anil Choudhary

Chairman & Managing Director