Safari Industries (India) Ltd

₹ 1,254 0.39%

06 Nov - close price

About

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]

Key Points

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]

Website BSE NSE

Market Cap ₹ 6,142 Cr.
Current Price ₹ 1,254
High / Low ₹ 2,507 / 1,155
Stock P/E 39.6
Book Value ₹ 244
Dividend Yield 0.32 %
ROCE 19.3 %
ROE 15.9 %
Face Value ₹ 2.00

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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.

Peer comparison

Consumer Discretionary Consumer Durables Consumer Durables Plastic Products - Consumer

Part of BSE Consumer Discretionary Nifty Microcap 250 Nifty Total Market BSE 1000 Nifty Smallcap 500

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
	370	388	365	450	458	443	421	528	534	512	473	589	582
YoY Sales growth	+18%	+28%	+21%	+5%	+24%	+14%	+15%	+17%	+17%	+16%	+12%	+12%	+9%
	307	320	299	384	410	392	360	449	460	457	411	513	522
Operating Profit	63	68	67	66	48	50	61	79	74	56	62	75	60
OPM %	17%	18%	18%	15%	10%	11%	14%	15%	14%	11%	13%	13%	10%
	3	4	5	8	7	7	6	6	6	6	7	7	7
Interest	2	2	2	2	2	2	2	2	2	2	2	3	2
Depreciation	12	13	14	14	15	15	15	17	18	18	18	19	19
Profit before tax	52	57	56	58	38	41	49	65	60	42	49	61	46
Tax %	23%	24%	23%	23%	22%	24%	24%	23%	22%	21%	24%	22%	19%
	40	43	43	44	30	31	38	50	47	33	37	48	37
EPS in Rs	8.35	9.02	8.86	9.11	6.07	6.37	7.69	10.33	9.58	6.71	7.65	9.75	7.54
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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	2,156
Sales growth	+31%	+29%	+27%	+22%	+38%	+19%	-52%	+115%	+72%	+28%	+14%	+16%	+12%
	198	252	319	377	525	614	334	649	1,015	1,273	1,546	1,776	1,904
Operating Profit	12	19	24	42	53	72	-6	56	197	278	225	271	253
OPM %	6%	7%	7%	10%	9%	11%	-1.7%	8%	16%	18%	13%	13%	12%
	-1	1	0	1	1	1	3	-2	9	14	28	24	28
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	74
Profit before tax	6	12	16	34	41	40	-29	29	165	230	186	216	198
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	155
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	31.65
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:	12%

Compounded Profit Growth
10 Years:	36%
5 Years:	59%
3 Years:	10%
TTM:	-7%

Stock Price CAGR
10 Years:	28%
5 Years:	23%
3 Years:	-16%
1 Year:	-40%

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	Sep 2026
Equity Capital	4	4	4	4	4	4	4	4	5	10	10	10	10
Reserves	72	87	97	168	196	226	275	297	421	814	944	1,105	1,187
	33	58	42	55	104	114	41	56	139	146	125	117	152
	20	27	55	47	81	71	77	112	182	173	238	211	277
Total Liabilities	130	177	198	275	386	416	397	469	747	1,143	1,316	1,442	1,625
	12	24	23	32	29	79	67	96	184	293	414	456	453
CWIP	0	0	1	0	0	0	0	20	0	1	12	1	4
Investments	0	0	0	0	0	0	0	0	0	149	3	13	13
	117	152	174	243	357	336	330	353	563	700	887	972	1,155
Total Assets	130	177	198	275	386	416	397	469	747	1,143	1,316	1,442	1,625

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/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit	-244%	-50%	120%	-87%	-41%	117%	-1,991%	32%	44%	98%	43%	82%

Ratios

Consolidated / 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

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Permanent Employees
count ・Standalone data

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Customer Touchpoints
count ・Standalone data

COCO (Company Owned Company Operated) Outlets
count

Hard Luggage share of total turnover
% ・Standalone data

Market Share in Organized Luggage Sector
%

Renewable Energy Share in Total Energy Consumption
% ・Standalone data

Hard Luggage Manufacturing Capacity
lac pieces per month

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Shareholding Pattern

Numbers in percentages

1 Recently

	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
	46.88%	45.73%	45.73%	45.41%	45.41%	45.41%	45.41%	44.90%	44.70%	44.70%	44.70%	44.70%
	13.44%	13.14%	12.69%	12.24%	12.26%	13.25%	13.05%	12.30%	12.32%	10.81%	10.56%	10.95%
	16.75%	20.52%	21.83%	22.73%	23.97%	23.71%	24.68%	26.11%	26.56%	28.30%	28.26%	28.54%
	0.00%	0.00%	0.00%	0.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	22.91%	20.61%	19.75%	19.60%	18.37%	17.63%	16.86%	16.70%	16.42%	16.20%	16.47%	15.81%
No. of Shareholders	45,251	35,078	32,050	45,148	42,218	38,387	36,080	36,628	35,017	34,886	36,853	35,380

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Sep 2026
	61.98%	57.80%	57.61%	56.67%	55.27%	50.02%	47.24%	45.73%	45.41%	44.70%	44.70%
	0.00%	8.73%	9.98%	23.54%	15.75%	16.21%	15.93%	13.14%	13.25%	10.81%	10.95%
	20.09%	15.98%	14.53%	0.81%	5.73%	5.88%	12.62%	20.52%	23.71%	28.30%	28.54%
	17.93%	17.48%	17.88%	18.98%	23.25%	27.89%	24.22%	20.61%	17.63%	16.20%	15.81%
No. of Shareholders	3,038	3,488	7,603	8,790	12,041	14,346	15,148	35,078	38,387	34,886	35,380

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Safari Industries (India) Ltd

Safari Industries (India) Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Insights

Shareholding Pattern

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