Safari Industries (India) Ltd

₹ 1,504 -1.58%

29 May - 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 ₹ 7,380 Cr.
Current Price ₹ 1,504
High / Low ₹ 2,507 / 1,363
Stock P/E 44.0
Book Value ₹ 228
Dividend Yield 0.20 %
ROCE 19.5 %
ROE 16.2 %
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

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
	303	427	370	388	365	450	458	443	421	528	534	512	473
	244	348	307	320	299	384	410	392	360	449	460	457	411
Operating Profit	58	79	63	68	67	66	48	50	61	79	74	56	62
OPM %	19%	19%	17%	18%	18%	15%	10%	11%	14%	15%	14%	11%	13%
	3	2	3	4	5	8	7	7	6	6	6	6	7
Interest	2	3	2	2	2	2	2	2	2	2	2	2	2
Depreciation	9	13	12	13	14	14	15	15	15	17	18	18	18
Profit before tax	50	66	52	57	56	58	38	41	49	65	60	42	49
Tax %	23%	24%	23%	24%	23%	23%	22%	24%	24%	23%	22%	21%	24%
	38	50	40	43	43	44	30	31	38	50	47	33	37
EPS in Rs	8.03	10.54	8.35	9.02	8.86	9.11	6.07	6.37	7.69	10.33	9.58	6.71	7.65
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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
	211	271	344	419	578	686	328	705	1,212	1,550	1,772	2,047
	198	252	319	377	525	614	334	649	1,015	1,273	1,546	1,776
Operating Profit	12	19	24	42	53	72	-6	56	197	278	225	271
OPM %	6%	7%	7%	10%	9%	11%	-2%	8%	16%	18%	13%	13%
	-1	1	0	1	1	1	3	-2	9	14	28	25
Interest	3	3	4	3	4	10	6	5	8	10	9	9
Depreciation	3	4	5	6	8	22	20	20	33	52	59	71
Profit before tax	6	12	16	34	41	40	-29	29	165	230	186	216
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
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
Dividend Payout %	9%	6%	8%	5%	4%	0%	0%	8%	7%	11%	10%	6%

Compounded Sales Growth
10 Years:	22%
5 Years:	44%
3 Years:	19%
TTM:	16%

Compounded Profit Growth
10 Years:	36%
5 Years:	59%
3 Years:	10%
TTM:	20%

Stock Price CAGR
10 Years:	31%
5 Years:	37%
3 Years:	4%
1 Year:	-34%

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	215
Total Liabilities	130	177	198	275	386	416	397	469	747	1,143	1,316	1,446
	12	24	23	32	29	79	67	96	184	293	414	457
CWIP	0	0	1	0	0	0	0	20	0	1	12	0
Investments	0	0	0	0	0	0	0	0	0	149	3	13
	117	152	174	243	357	336	330	353	563	700	887	976
Total Assets	130	177	198	275	386	416	397	469	747	1,143	1,316	1,446

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	111
Days Payable	40	42	87	68	76	59	138	84	90	70	79	57
Cash Conversion Cycle	204	211	147	217	219	174	185	98	105	93	109	101
Working Capital Days	90	75	76	118	102	88	136	72	65	53	75	71
ROCE %	12%	12%	14%	20%	17%	16%	-7%	13%	37%	31%	19%	19%

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Debtors Turnover Days
Days

xx	xx	xx	xx	xx	xx	xxx	xx	xx	xx	xx
xxx	xxx	xxx	x,xxx	x,xxx	x,xxx	x,xxx	x,xxx	x,xxx	x,xxx	x,xxx
			xx.xx	xx.xx	xx.xx			xx.xx	xx.xx	xx.xx
			xx.xx	xx.xx	xx.xx			xx.xx	xx.xx	xx.xx
xx	xx	xx	xx	xx
								x,xxx	x,xxx	x,xxx
									x.xx	x.xx

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Total Workforce (Employees + Contractual)
Count

Hard Luggage Contribution to Turnover
%

Soft Luggage & Backpacks Contribution to Turnover
%

Number of Exclusive Retail Stores (COCO)
Count

Number of Dealers and Distributors
Count

Hard Luggage Production Capacity
Lakh Pieces per Month

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Shareholding Pattern

Numbers in percentages

1 Recently

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
	47.23%	46.96%	46.88%	45.73%	45.73%	45.41%	45.41%	45.41%	45.41%	44.90%	44.70%	44.70%
	12.30%	12.95%	13.44%	13.14%	12.69%	12.24%	12.26%	13.25%	13.05%	12.30%	12.32%	10.81%
	17.00%	17.51%	16.75%	20.52%	21.83%	22.73%	23.97%	23.71%	24.68%	26.11%	26.56%	28.30%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	23.47%	22.59%	22.91%	20.61%	19.75%	19.60%	18.37%	17.63%	16.86%	16.70%	16.42%	16.20%
No. of Shareholders	24,023	31,307	45,251	35,078	32,050	45,148	42,218	38,387	36,080	36,628	35,017	34,886

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

* 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

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Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Insights

Shareholding Pattern

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