Safari Industries (India) Ltd

Safari Inds. Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Safari Industries (India) Ltd

₹ 4,206 1.54%
04 Oct - close price
safaribags.com BSE: 523025 NSE : SAFARI
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

Market Position
The Co. claims market share of around 20-22% (as of September 2022) in the organized luggage sector. [1] It is one of the top 3 luggage brands in India. [2]

Website BSE NSE
  • Market Cap ₹ 9,987 Cr.
  • Current Price ₹ 4,206
  • High / Low ₹ 4,260 / 1,571
  • Stock P/E 67.3
  • Book Value ₹ 180
  • Dividend Yield 0.08 %
  • ROCE 37.5 %
  • ROE 34.4 %
  • Face Value ₹ 2.00
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Pros

  • Company is expected to give good quarter
  • Company has delivered good profit growth of 41.8% CAGR over last 5 years
  • Debtor days have improved from 70.3 to 51.0 days.
  • Company's working capital requirements have reduced from 107 days to 83.1 days

Cons

  • Stock is trading at 23.4 times its book value
  • Promoter holding has decreased over last 3 years: -9.44%

* 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

Sector: Plastic products Industry: Moulded Luggage

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023
20 63 112 133 120 189 204 193 293 315 303 303 427
39 68 107 120 113 171 191 176 251 273 248 244 348
Operating Profit -19 -5 5 13 7 18 13 17 42 42 55 58 79
OPM % -95% -8% 5% 10% 6% 10% 6% 9% 14% 13% 18% 19% 19%
1 1 1 0 2 2 2 -7 2 3 3 3 2
Interest 2 2 1 1 1 1 1 1 1 2 3 2 3
Depreciation 5 6 5 5 4 5 5 6 7 8 9 9 13
Profit before tax -25 -12 0 8 3 14 9 3 35 35 46 50 66
Tax % 23% 26% -750% 26% 28% 24% 24% 10% 25% 25% 24% 23% 24%
-19 -9 1 6 2 11 7 2 27 26 34 38 50
EPS in Rs -8.64 -4.01 0.53 2.78 1.09 4.74 3.08 1.07 11.87 10.94 14.54 16.06 21.06
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
161 211 271 344 419 578 686 328 705 1,212 1,347
154 198 252 319 377 525 614 334 649 1,015 1,113
Operating Profit 7 12 19 24 42 53 72 -6 56 197 234
OPM % 4% 6% 7% 7% 10% 9% 11% -2% 8% 16% 17%
0 -1 1 0 1 1 1 3 -2 9 10
Interest 6 3 3 4 3 4 10 6 5 8 9
Depreciation 1 3 4 5 6 8 22 20 20 33 40
Profit before tax 1 6 12 16 34 41 40 -29 29 165 195
Tax % 78% 27% 35% 34% 36% 34% 24% 28% 23% 24%
0 4 8 10 22 27 31 -21 22 125 148
EPS in Rs 0.08 2.14 3.73 4.89 9.68 12.19 13.71 -9.34 9.99 52.76 62.60
Dividend Payout % 0% 9% 6% 8% 5% 4% 0% 0% 8% 7%
Compounded Sales Growth
10 Years: %
5 Years: 24%
3 Years: 21%
TTM: 53%
Compounded Profit Growth
10 Years: %
5 Years: 42%
3 Years: 60%
TTM: 173%
Stock Price CAGR
10 Years: 53%
5 Years: 41%
3 Years: 118%
1 Year: 126%
Return on Equity
10 Years: %
5 Years: 15%
3 Years: 15%
Last Year: 34%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
3 4 4 4 4 4 4 4 4 5
Reserves 9 70 87 97 168 196 226 275 297 421
54 33 58 42 55 104 114 41 56 139
35 23 27 55 47 81 71 77 112 182
Total Liabilities 102 130 177 198 275 386 416 397 469 747
12 12 24 23 32 29 79 67 96 184
CWIP 0 0 0 1 0 0 0 0 20 0
Investments 0 0 0 0 0 0 0 0 0 0
90 117 152 174 243 357 336 330 353 563
Total Assets 102 130 177 198 275 386 416 397 469 747

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
-3 -32 -13 24 -48 -38 71 111 16 51
-9 -3 -15 -6 -13 -7 -21 -98 -4 -70
12 36 29 -20 59 45 -50 -10 -14 20
Net Cash Flow -0 1 1 -2 -2 -0 1 3 -2 1

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 72 70 73 62 85 89 78 101 59 51
Inventory Days 186 174 180 172 199 206 155 223 123 144
Days Payable 121 40 42 87 68 76 59 138 84 90
Cash Conversion Cycle 137 204 211 147 217 219 174 185 98 105
Working Capital Days 102 147 149 116 163 167 134 154 85 83
ROCE % 12% 12% 14% 20% 17% 16% -7% 13% 37%

Shareholding Pattern

Numbers in percentages

62 Recently
Sep 2020Dec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023
56.67% 56.63% 55.27% 50.36% 49.90% 49.89% 50.02% 50.01% 47.24% 47.24% 47.24% 47.23%
22.64% 22.55% 15.75% 16.24% 17.30% 16.28% 16.21% 15.77% 15.14% 15.53% 15.93% 12.30%
1.29% 1.31% 5.73% 5.54% 5.18% 6.14% 5.88% 6.74% 12.21% 12.01% 12.62% 17.00%
19.40% 19.50% 23.25% 27.86% 27.63% 27.69% 27.89% 27.48% 25.43% 25.23% 24.22% 23.47%
No. of Shareholders 11,71110,52012,04112,17614,01114,56714,34613,74115,58114,58315,14824,023

* 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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