The company has said today in a stock exchange filing that “Pursuant to Regulation 29(1) of SEBI (LODR) Regulations, 2015 read with SEBI (PIT) Regulations, 2015 as amended from time to time, we are pleased to inform that 10/2022-23 Meeting of the Board of Directors of the Company is scheduled to be held on Tuesday the 29th day of November, 2022 at 12:15 P.M. at the Registered Office of the Company to consider and approve the following businesses along with other routine businesses: a) To consider and approve allotment of 2,66,34,800 new equity shares of Rs.10/- each to existing shareholders in the proportion of 2:1 i.e. 2 (Two) new equity bonus share of Rs. 10/- each for every 1 (One) existing fully paid equity share(s) of Rs. 10/- each. b) To consider and approve any other matter incidental thereto."
On a consolidated basis, Commercial Syn Bags' net profit dropped by 97.66% YoY to ₹0.10 crore in the quarter that ended in September 2022 compared to ₹4.27 crore in the same quarter a year earlier. In Q2FY23, sales dropped 4.13% YoY to ₹72.40 crore from ₹75.52 crore in Q2FY22. In Q2FY23, the EPS plummeted to ₹0.04 per share from ₹3.61 per share reported in Q2FY22.
Commercial Syn Bags Ltd. shares decreased by 0.063% from yesterday's close of Rs. 318.35 and closed today at Rs. 318.15 a piece. 11,714 shares were traded in total today for the stock. The stock has produced a multibagger return of 607.00% over the past five years and a multibagger return of 536.30% during the past three years. The stock has appreciated 37.10% over the past year, and it has climbed 18.76% YTD in 2022. The stock had touched a 52-week-high of ₹388.00 on (09/11/2022) and a 52-week-low of ₹211.60 on (23/11/2021), indicating that at the current market price the stock is trading 18% below the high and 50.35% above the low. For the quarter ended September or Q2FY23, the company recorded a promoter stake of 58.66% and a public stake of 41.34%.
