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Commercial Syn Bags Ltd.

BSE: 539986 Sector: Industrials
NSE: N.A. ISIN Code: INE073V01015
BSE 14:42 | 07 Dec 114.95 0.90
(0.79%)
OPEN

114.05

HIGH

115.95

LOW

114.00

NSE 05:30 | 01 Jan Commercial Syn Bags Ltd
OPEN 114.05
PREVIOUS CLOSE 114.05
VOLUME 6122
52-Week high 154.40
52-Week low 71.87
P/E 33.81
Mkt Cap.(Rs cr) 459
Buy Price 114.50
Buy Qty 7.00
Sell Price 114.90
Sell Qty 27.00
OPEN 114.05
CLOSE 114.05
VOLUME 6122
52-Week high 154.40
52-Week low 71.87
P/E 33.81
Mkt Cap.(Rs cr) 459
Buy Price 114.50
Buy Qty 7.00
Sell Price 114.90
Sell Qty 27.00

Commercial Syn Bags Ltd. (COMMERLSYNBAGS) - Chairman Speech

Company chairman speech

Dear Shareholders

A year ago we witnessed an unprecedented economic and health crisis and I gave you arather ambivalent outlook on our business growth. Though the first two months of thefiscal year were particularly difficult things started picking up with the revival ofeconomic activity. I am delighted to inform you that during the year gone by we haverecorded the highest ever revenue and profitability in the history of our company'sexistence.

We exhibited some excellent numbers during this year achieving Rs. 21389.10 Lakhs ofRevenue from Operations marking a 12% growth compared to Rs. 19097.23 Lakhs in FY2020 (onstandalone basis). In addition our profit aftertax increases by 2.2% from Rs. 1142.26Lakhs to Rs. 1208.58 Lakhs in the current fiscal year (on standalone basis).The exportsales continue to contribute more than 70% of total sales from manufacturing segment andCompany's customer base is spread in all the continents except Antarctica.

Like every other organisation our priority was to ensure the safety and well-being ofour people. We set up an internal helpline to extend support to the affected team membersand their families. We have organised free vaccination camp for all of our team members.We ensured that our people are duly vaccinated against the virus we extended supportoutside our organisation to the communities as well. We provided food to the needy andalso arranged to deliver PPE kits and masks to healthcare workers. We will continue tohelp wherever we can and stand with the world in the fight against this pandemic.

The Company has commenced the commercial operation of Unit - II on 28thSeptember 2020 with the installation of Multifilament Plant Lamination Plants and MeltBlown Non-Woven Fabric Production Line. With this expansion the production capacity (allunits) has been increased from 17000 MT to 20630 MT p.a. Further the operation of WhollyOwned Subsidiary Comsyn India Private Limited had also commenced w.e.f. 19thMarch 2021 with the capacity of 3100 MT p.a. making the aggregate annual capacity of23730 MT. We are hopeful to announce the details of upcoming project on newly allottedland from MPIDC Indore in this financial year.

Your directors are pleased to recommend a Final Dividend of 20% i.e. Rs. 2.00 perequity share of face value of Rs. 10 each for financial year 2020-2021 subject toapproval of shareholders involving an outflow of Rs. 2.36 Crores.

Your directors are pleased to inform that the Board of directors at their meeting heldon 4th Sept. 2021 has approved the matter related to Preferential issue of1500000 Warrants of Rs. 130/- convertible into 1500000 equity shares of Rs. 10/- eachissued at a premium of Rs. 120/- per share to the promoter and its group and tononpromoters selected investors which is subject to approval of members in the ensuingAnnual General Meeting by way of Special Resolution and approvals as may be required fromthe BSE Ltd and other concerning authorities as may be applicable.

Your Company always focuses on operational efficiency and reduction in cost by adoptionof renewable energy sources. As a measure of green initiative your company has installeda solar power generation plant and roof top solar plant. During the year under review18.61 Lakhs units of Electricity were generated through 1.0 MW (1.2 MW peak (p) SolarPower Generating System at Ujaas Solar Park Sitamau (MP) and used as captive consumptionat Company's manufacturing units at Pithampur and 2.06 Lakhs unit were generated from theinstalled roof top solar plant at Unit - II.

During the year under review your Company has achieved turnoverof39188.80 MT vis avis39270.25 MT in financial year 2019-2020under trading operations as DCA cum CS of ONGCPetro additions Limited (OPaL) and strengthened its presence in domestic market.

Before I conclude I take this opportunity to thank the Board for effectively steeringthe Company in these unprecedented times. I am grateful to the leadership team and ouremployees for their relentless efforts and contributions towards upholding businesscontinuity and enabling growth. To our stakeholders including our partners supplierscustomers consumers influencers bankers government authorities and to you ourshareholders I express my gratitude for reposing your faith in us. Let us together make adifference and scale new heights of progress in the impending year.

 

With best wishes

Sincerely

Anil Choudhary

Chairman & Managing Director

.