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 ₹ 10,893 Cr.
- Current Price ₹ 2,228
- High / Low ₹ 2,837 / 1,670
- Stock P/E 76.3
- Book Value ₹ 195
- Dividend Yield 0.13 %
- ROCE 19.0 %
- ROE 16.1 %
- Face Value ₹ 2.00
Pros
- Company has delivered good profit growth of 35.9% CAGR over last 5 years
- Company's median sales growth is 26.8% of last 10 years
Cons
- Stock is trading at 11.3 times its book value
- Promoter holding has decreased over last 3 years: -4.61%
* 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 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
161 | 211 | 271 | 344 | 419 | 578 | 686 | 328 | 705 | 1,212 | 1,550 | 1,772 | |
154 | 198 | 252 | 319 | 377 | 525 | 614 | 334 | 649 | 1,015 | 1,273 | 1,547 | |
Operating Profit | 7 | 12 | 19 | 24 | 42 | 53 | 72 | -6 | 56 | 197 | 278 | 225 |
OPM % | 4% | 6% | 7% | 7% | 10% | 9% | 11% | -2% | 8% | 16% | 18% | 13% |
0 | -1 | 1 | 0 | 1 | 1 | 1 | 3 | -2 | 9 | 14 | 28 | |
Interest | 6 | 3 | 3 | 4 | 3 | 4 | 10 | 6 | 5 | 8 | 10 | 9 |
Depreciation | 1 | 3 | 4 | 5 | 6 | 8 | 22 | 20 | 20 | 33 | 52 | 59 |
Profit before tax | 1 | 6 | 12 | 16 | 34 | 41 | 40 | -29 | 29 | 165 | 230 | 186 |
Tax % | 78% | 27% | 35% | 34% | 36% | 34% | 24% | -28% | 23% | 24% | 24% | 23% |
0 | 4 | 8 | 10 | 22 | 27 | 31 | -21 | 22 | 125 | 176 | 143 | |
EPS in Rs | 0.04 | 1.06 | 1.87 | 2.45 | 4.84 | 6.09 | 6.86 | -4.67 | 4.99 | 26.39 | 36.05 | 29.21 |
Dividend Payout % | 0% | 9% | 6% | 8% | 5% | 4% | 0% | 0% | 8% | 7% | 11% | 10% |
Compounded Sales Growth | |
---|---|
10 Years: | 24% |
5 Years: | 21% |
3 Years: | 36% |
TTM: | 14% |
Compounded Profit Growth | |
---|---|
10 Years: | 40% |
5 Years: | 36% |
3 Years: | 68% |
TTM: | -18% |
Stock Price CAGR | |
---|---|
10 Years: | 40% |
5 Years: | 64% |
3 Years: | 68% |
1 Year: | 6% |
Return on Equity | |
---|---|
10 Years: | 18% |
5 Years: | 19% |
3 Years: | 24% |
Last Year: | 16% |
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 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 3 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 5 | 10 | 10 |
Reserves | 9 | 72 | 87 | 97 | 168 | 196 | 226 | 275 | 297 | 421 | 814 | 944 |
54 | 33 | 58 | 42 | 55 | 104 | 114 | 41 | 56 | 139 | 146 | 125 | |
35 | 20 | 27 | 55 | 47 | 81 | 71 | 77 | 112 | 182 | 173 | 241 | |
Total Liabilities | 102 | 130 | 177 | 198 | 275 | 386 | 416 | 397 | 469 | 747 | 1,143 | 1,319 |
12 | 12 | 24 | 23 | 32 | 29 | 79 | 67 | 96 | 184 | 293 | 414 | |
CWIP | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 20 | 0 | 1 | 12 |
Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 149 | 3 |
90 | 117 | 152 | 174 | 243 | 357 | 336 | 330 | 353 | 563 | 700 | 890 | |
Total Assets | 102 | 130 | 177 | 198 | 275 | 386 | 416 | 397 | 469 | 747 | 1,143 | 1,319 |
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 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
-3 | -32 | -13 | 24 | -48 | -38 | 71 | 111 | 16 | 51 | 217 | 57 | |
-9 | -3 | -15 | -6 | -13 | -7 | -21 | -98 | -4 | -70 | -345 | -10 | |
12 | 36 | 29 | -20 | 59 | 45 | -50 | -10 | -14 | 20 | 164 | -75 | |
Net Cash Flow | -0 | 1 | 1 | -2 | -2 | -0 | 1 | 3 | -2 | 1 | 36 | -27 |
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 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 72 | 70 | 73 | 62 | 85 | 89 | 78 | 101 | 59 | 51 | 39 | 50 |
Inventory Days | 186 | 174 | 180 | 172 | 199 | 206 | 155 | 223 | 123 | 144 | 124 | 133 |
Days Payable | 121 | 40 | 42 | 87 | 68 | 76 | 59 | 138 | 84 | 90 | 70 | 76 |
Cash Conversion Cycle | 137 | 204 | 211 | 147 | 217 | 219 | 174 | 185 | 98 | 105 | 93 | 107 |
Working Capital Days | 102 | 147 | 149 | 116 | 163 | 167 | 134 | 154 | 85 | 83 | 67 | 83 |
ROCE % | 12% | 12% | 14% | 20% | 17% | 16% | -7% | 13% | 37% | 31% | 19% |
Documents
Announcements
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Reg. 34 (1) Annual Report.
19h - Notice of 45th AGM on 1 Aug 2025 with FY2024-25 financials, dividend, director appointments, and secretarial auditor appointment.
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Business Responsibility and Sustainability Reporting (BRSR)
19h - Notice of 45th AGM on 1 Aug 2025, FY25 financials, dividend, new independent director, secretarial auditor appointment.
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Business Responsibility and Sustainability Reporting (BRSR)
19h - Notice of 45th AGM on 1 Aug 2025 with FY25 financials, dividend, director appointment, and e-voting details.
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Notice Of 45Th Annual General Meeting (AGM) To Be Held On Friday, 1St August 2025 At 3:30 Pm (IST) And Annual Report (Including BRSR)
20h - Notice of 45th AGM on 1 Aug 2025, FY25 financials, dividend, director and auditor appointments.
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Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
21h - Certificate confirming securities dematerialisation compliance for April-June 2025 quarter.
Annual reports
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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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Financial Year 2011
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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]