Commercial Syn Bags Limited (COMSYN.NS) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-106.8%

-₹13.76

vs ₹201.68 price

Levered DCF

-₹98.34

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

—

Rating

C+

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	23.22×	17.93×	34.11×	40.72×	16.94×	25.06×	26.3×	26.55×
P/B	3.44×	2.05×	2.08×	2.73×	2.93×	3.82×	4.36×	5.12×
P/S	1.58×	0.88×	0.93×	1.13×	0.96×	1.41×	1.57×	1.45×
EV / EBITDA	14.5×	10.61×	12.72×	16.15×	10.78×	14.77×	13.9×	14.01×
Gross margin	28.2%	47.0%	44.3%	43.3%	34.2%	48.5%	47.5%	30.4%
Operating margin	9.6%	7.7%	26.5%	27.7%	28.4%	30.7%	9.6%	28.9%
Net margin	6.8%	4.9%	2.7%	2.8%	5.7%	5.6%	6.0%	5.5%
Current ratio	1.27×	1.36×	1.27×	1.69×	1.56×	1.35×	1.59×	1.35×
Debt / equity	0.72×	0.76×	0.84×	0.63×	0.79×	1.09×	0.75×	0.92×
Interest coverage	4.07×	2.86×	9.68×	13.06×	15.63×	17.01×	4.73×	14.6×
Dividend yield	0.3%	0.0%	0.0%	0.8%	0.8%	0.6%	0.3%	0.2%
Payout ratio	6.1%	0.0%	0.0%	34.6%	12.9%	14.8%	8.3%	4.2%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	14.8%	11.4%	6.1%	6.7%	17.3%	15.2%	16.6%	19.3%
Return on invested capital	10.2%	7.8%	22.9%	34.0%	40.7%	31.6%	11.6%	38.7%
Return on assets	7.3%	5.6%	2.9%	3.6%	8.3%	6.1%	8.2%	8.3%
Free cash flow yield	-1.0%	-2.7%	-2.4%	-1.6%	-3.9%	-9.2%	3.1%	-3.1%
Earnings yield	4.3%	5.6%	2.9%	2.5%	5.9%	4.0%	3.8%	3.8%
Enterprise value	₹7.3B	₹4.2B	₹3.8B	₹4B	₹3.9B	₹3.8B	₹3.5B	₹3.5B
Net debt / EBITDA	2.43×	2.86×	3.66×	3.01×	2.28×	3.22×	2.04×	2.12×
Cash conversion cycle (days)	142	184	179	130	116	188	124	77