Safari Industries (India) Ltd
Safari Industries is in the business of manufacturing and trading of luggage and luggage accessories. There are two broad categories of luggage i.e hard luggage and soft luggage. Hard luggages are mainly made of PolyPropylene (PP) and Polycarbonate (PC) and manufactured in-house by Safari at its Plant located at Halol, Gujarat. Soft luggages are made of fabrics of various kinds and are mainly imported.[1]
- Market Cap ₹ 7,266 Cr.
- Current Price ₹ 1,483
- High / Low ₹ 2,507 / 1,363
- Stock P/E 44.0
- Book Value ₹ 228
- Dividend Yield 0.27 %
- ROCE 19.3 %
- ROE 15.9 %
- Face Value ₹ 2.00
Pros
- Company's median sales growth is 24.4% of last 10 years
Cons
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 211 | 271 | 344 | 419 | 578 | 686 | 328 | 705 | 1,212 | 1,550 | 1,772 | 2,047 | 2,108 | |
| 198 | 252 | 319 | 377 | 525 | 614 | 334 | 649 | 1,015 | 1,273 | 1,546 | 1,776 | 1,841 | |
| Operating Profit | 12 | 19 | 24 | 42 | 53 | 72 | -6 | 56 | 197 | 278 | 225 | 271 | 267 |
| OPM % | 6% | 7% | 7% | 10% | 9% | 11% | -1.7% | 8% | 16% | 18% | 13% | 13% | 13% |
| -1 | 1 | 0 | 1 | 1 | 1 | 3 | -2 | 9 | 14 | 28 | 24 | 26 | |
| Interest | 3 | 3 | 4 | 3 | 4 | 10 | 6 | 5 | 8 | 10 | 9 | 9 | 9 |
| Depreciation | 3 | 4 | 5 | 6 | 8 | 22 | 20 | 20 | 33 | 52 | 59 | 71 | 72 |
| Profit before tax | 6 | 12 | 16 | 34 | 41 | 40 | -29 | 29 | 165 | 230 | 186 | 216 | 212 |
| Tax % | 27% | 35% | 34% | 36% | 34% | 24% | -28% | 23% | 24% | 24% | 23% | 22% | |
| 4 | 8 | 10 | 22 | 27 | 31 | -21 | 22 | 125 | 176 | 143 | 168 | 165 | |
| EPS in Rs | 1.06 | 1.87 | 2.45 | 4.84 | 6.09 | 6.86 | -4.67 | 4.99 | 26.39 | 36.05 | 29.21 | 34.24 | 33.69 |
| Dividend Payout % | 9% | 6% | 8% | 5% | 4% | 0% | 0% | 8% | 7% | 11% | 10% | 12% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 22% |
| 5 Years: | 44% |
| 3 Years: | 19% |
| TTM: | 14% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 36% |
| 5 Years: | 59% |
| 3 Years: | 10% |
| TTM: | 11% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 32% |
| 5 Years: | 31% |
| 3 Years: | -6% |
| 1 Year: | -26% |
| Return on Equity | |
|---|---|
| 10 Years: | 17% |
| 5 Years: | 20% |
| 3 Years: | 19% |
| Last Year: | 16% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 5 | 10 | 10 | 10 |
| Reserves | 72 | 87 | 97 | 168 | 196 | 226 | 275 | 297 | 421 | 814 | 944 | 1,105 |
| 33 | 58 | 42 | 55 | 104 | 114 | 41 | 56 | 139 | 146 | 125 | 117 | |
| 20 | 27 | 55 | 47 | 81 | 71 | 77 | 112 | 182 | 173 | 238 | 211 | |
| Total Liabilities | 130 | 177 | 198 | 275 | 386 | 416 | 397 | 469 | 747 | 1,143 | 1,316 | 1,442 |
| 12 | 24 | 23 | 32 | 29 | 79 | 67 | 96 | 184 | 293 | 414 | 456 | |
| CWIP | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 20 | 0 | 1 | 12 | 1 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 149 | 3 | 13 |
| 117 | 152 | 174 | 243 | 357 | 336 | 330 | 353 | 563 | 700 | 887 | 972 | |
| Total Assets | 130 | 177 | 198 | 275 | 386 | 416 | 397 | 469 | 747 | 1,143 | 1,316 | 1,442 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| -32 | -13 | 24 | -48 | -38 | 71 | 111 | 16 | 51 | 217 | 57 | 173 | |
| -3 | -15 | -6 | -13 | -7 | -21 | -98 | -4 | -70 | -345 | -10 | -103 | |
| 36 | 29 | -20 | 59 | 45 | -50 | -10 | -14 | 20 | 164 | -75 | -73 | |
| Net Cash Flow | 1 | 1 | -2 | -2 | -0 | 1 | 3 | -2 | 1 | 36 | -27 | -3 |
| Free Cash Flow | -36 | -29 | 19 | -62 | -47 | 50 | 103 | -27 | 3 | 106 | -88 | 105 |
| CFO/OP | -244% | -50% | 120% | -87% | -41% | 117% | -1,991% | 32% | 44% | 98% | 43% | 82% |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 70 | 73 | 62 | 85 | 89 | 78 | 101 | 59 | 51 | 39 | 50 | 47 |
| Inventory Days | 174 | 180 | 172 | 199 | 206 | 155 | 223 | 123 | 144 | 124 | 138 | 116 |
| Days Payable | 40 | 42 | 87 | 68 | 76 | 59 | 138 | 84 | 90 | 70 | 79 | 59 |
| Cash Conversion Cycle | 204 | 211 | 147 | 217 | 219 | 174 | 185 | 98 | 105 | 93 | 109 | 103 |
| Working Capital Days | 90 | 75 | 76 | 118 | 102 | 88 | 136 | 72 | 65 | 53 | 74 | 68 |
| ROCE % | 12% | 12% | 14% | 20% | 17% | 16% | -7% | 13% | 37% | 31% | 19% | 19% |
Insights
In beta| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Permanent Employees count ・Standalone data |
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| COCO (Company Owned Company Operated) Outlets count |
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| Customer Touchpoints count ・Standalone data |
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| Hard Luggage share of total turnover % ・Standalone data |
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| Market Share in Organized Luggage Sector % |
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| Hard Luggage Manufacturing Capacity lac pieces per month |
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| Renewable Energy Share in Total Energy Consumption % ・Standalone data |
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Extracted by Screener AI
Documents
Announcements
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Shareholder Meeting / Postal Ballot-Scrutinizer''s Report
- 46th AGM held on 4 Aug 2026; 5 resolutions passed, including Rs2 final dividend and director reappointments.
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Announcement under Regulation 30 (LODR)-Newspaper Publication
- Enclosed is the Newspaper Publication for the Unaudited Financials Results for the Quarter ended 30th June 2026.
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Shareholder Meeting / Postal Ballot-Outcome of AGM
- 46th AGM held on 4 Aug 2026; final dividend Rs.2/share and director reappointments approved.
-
Announcement under Regulation 30 (LODR)-Change in Management
- Safari approved Q1 FY27 results and appointed Aditya Bhargava CFO effective 4 Aug 2026.
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Outcome Of The Board Meeting Held On 4Th August 2026
- Q1 FY27 results approved; Aditya Bhargava appointed CFO from 4 August 2026.
Annual reports
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Financial Year 2026
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Financial Year 2025
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Company Overview
Safari has been in the business since 1974 of manufacturing and trading of luggage and luggage accessories. There are two broad categories of luggage i.e. Hard luggage and soft luggage. [1]