Safari Industries (India) Ltd

Safari Industries (India) Ltd

₹ 2,086 -0.29%
19 Jun 10:23 a.m.
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]

  • Market Cap 10,173 Cr.
  • Current Price 2,086
  • High / Low 2,315 / 1,371
  • Stock P/E 57.9
  • Book Value 169
  • Dividend Yield 0.13 %
  • ROCE 31.2 %
  • ROE 28.2 %
  • Face Value 2.00

Pros

  • Company has delivered good profit growth of 44.9% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 25.9%
  • Debtor days have improved from 49.8 to 38.9 days.
  • Company's median sales growth is 27.9% of last 10 years

Cons

  • Stock is trading at 12.4 times its book value
  • Promoter holding has decreased over last quarter: -1.15%

* 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

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
133 120 189 204 193 293 314 303 303 427 370 388 365
120 113 171 191 176 251 272 248 244 348 307 320 299
Operating Profit 13 7 18 13 17 42 42 55 58 79 63 68 67
OPM % 10% 6% 10% 6% 9% 14% 13% 18% 19% 19% 17% 18% 18%
0 2 2 2 -7 2 3 3 3 2 3 4 5
Interest 1 1 1 1 1 1 2 3 2 3 2 2 2
Depreciation 5 4 5 5 6 7 8 9 9 13 12 13 14
Profit before tax 8 3 14 9 3 35 35 46 50 66 52 57 56
Tax % 26% 28% 24% 24% 10% 25% 25% 24% 23% 24% 23% 24% 23%
6 2 11 7 2 27 26 34 38 50 40 43 43
EPS in Rs 1.39 0.55 2.37 1.54 0.54 5.94 5.47 7.27 8.03 10.54 8.35 9.02 8.86
Raw PDF

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
161 211 271 344 419 578 686 328 705 1,212 1,550
154 198 252 319 377 525 614 334 649 1,015 1,273
Operating Profit 7 12 19 24 42 53 72 -6 56 197 278
OPM % 4% 6% 7% 7% 10% 9% 11% -2% 8% 16% 18%
0 -1 1 0 1 1 1 3 -2 9 14
Interest 6 3 3 4 3 4 10 6 5 8 10
Depreciation 1 3 4 5 6 8 22 20 20 33 52
Profit before tax 1 6 12 16 34 41 40 -29 29 165 230
Tax % 78% 27% 35% 34% 36% 34% 24% 28% 23% 24% 24%
0 4 8 10 22 27 31 -21 22 125 176
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
Dividend Payout % 0% 9% 6% 8% 5% 4% 0% 0% 8% 7% 11%
Compounded Sales Growth
10 Years: 25%
5 Years: 22%
3 Years: 68%
TTM: 28%
Compounded Profit Growth
10 Years: 98%
5 Years: 45%
3 Years: 120%
TTM: 41%
Stock Price CAGR
10 Years: 43%
5 Years: 45%
3 Years: 84%
1 Year: 42%
Return on Equity
10 Years: 18%
5 Years: 20%
3 Years: 26%
Last Year: 28%

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
Equity Capital 3 4 4 4 4 4 4 4 4 5 10
Reserves 9 70 87 97 168 196 226 275 297 421 814
54 33 58 42 55 104 114 41 56 139 146
35 23 27 55 47 81 71 77 112 182 174
Total Liabilities 102 130 177 198 275 386 416 397 469 747 1,144
12 12 24 23 32 29 79 67 96 184 293
CWIP 0 0 0 1 0 0 0 0 20 0 1
Investments 0 0 0 0 0 0 0 0 0 0 149
90 117 152 174 243 357 336 330 353 563 701
Total Assets 102 130 177 198 275 386 416 397 469 747 1,144

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
-3 -32 -13 24 -48 -38 71 111 16 51 217
-9 -3 -15 -6 -13 -7 -21 -98 -4 -70 -345
12 36 29 -20 59 45 -50 -10 -14 20 164
Net Cash Flow -0 1 1 -2 -2 -0 1 3 -2 1 36

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
Debtor Days 72 70 73 62 85 89 78 101 59 51 39
Inventory Days 186 174 180 172 199 206 155 223 123 144 120
Days Payable 121 40 42 87 68 76 59 138 84 90 68
Cash Conversion Cycle 137 204 211 147 217 219 174 185 98 105 91
Working Capital Days 102 147 149 116 163 167 134 154 85 83 102
ROCE % 12% 12% 14% 20% 17% 16% -7% 13% 37%

Shareholding Pattern

Numbers in percentages

4 Recently
Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
50.36% 49.90% 49.89% 50.02% 50.01% 47.24% 47.24% 47.24% 47.23% 46.96% 46.88% 45.73%
16.24% 17.30% 16.28% 16.21% 15.77% 15.14% 15.53% 15.93% 12.30% 12.95% 13.44% 13.14%
5.54% 5.18% 6.14% 5.88% 6.74% 12.21% 12.01% 12.62% 17.00% 17.51% 16.75% 20.52%
27.86% 27.63% 27.69% 27.89% 27.48% 25.43% 25.23% 24.22% 23.47% 22.59% 22.91% 20.61%
No. of Shareholders 12,17614,01114,56714,34613,74115,58114,58315,14824,02331,30745,25135,078

* 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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