Safari IND (India) Ltd
NSE: SAFARI · Plastic Products - Consumer · sector
₹1,228.00NSE close 2026-10-26
Key numbers
Market cap₹6,017 cr
Price₹1,228.00
52w high / low₹2,507 / ₹1,228
P/E36.4xSector median 22.9x
P/B5.4xSector median 2.0x
Book value₹227.5
Dividend yield0.29%Sector median 0.29%
ROE15.9%Sector median 8.1%
ROCE19.8%Sector median 10.8%
OPM12.7%Sector median 8.9%
Debt / equity0.00xSector median 0.20x
EV/EBITDA21.5xSector median 16.9x
Interest cover24.7x
Current ratio3.79x
Sales growth 3y+19.1%Sector median +5.8%
Profit growth 3y+10.3%Sector median +12.1%
PEG–
Last 12 months to Jun 2026, Consolidated. "Sector median" = middle value of 11 companies in Plastic Products - Consumer (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹283 cr vs borrowings ₹0 cr (FY26): cash is higher (net cash).
- Borrowings fell in each of the last 3 years (₹60 cr → ₹0 cr).
- Operating profit covered interest 24.7x in the last 12 months.
- Operating cash flow was below net profit in 3 of the last 5 years (FY25, FY23, FY22).
- Revenue was higher than a year earlier in 4 of the last 4 quarters.
- Other income was 16% of net profit in the last 12 months.
- Dividend paid in 4 of the last 5 financial years.
- Price ₹1,228.00 on 2026-10-26: -51.0% from the 52-week high, 0.0% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹2,709.80 · low ₹1,228.00
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 458 | 443 | 421 | 528 | 534 | 512 | 473 | 589 |
| EBITDA | 48 | 50 | 61 | 79 | 74 | 56 | 62 | 75 |
| OPM % | 10.5% | 11.4% | 14.5% | 15.0% | 13.9% | 10.9% | 13.1% | 12.8% |
| Other income | 7 | 7 | 6 | 6 | 6 | 6 | 7 | 7 |
| Net profit | 30 | 31 | 37 | 50 | 47 | 33 | 37 | 48 |
| EPS (₹) | 6.07 | 6.37 | 7.69 | 10.33 | 9.58 | 6.72 | 7.65 | 9.75 |
| Revenue YoY | +16.5% | +15.7% | +12.4% | +11.5% | ||||
| Profit YoY | +56.9% | +5.6% | +1.5% | -5.4% |
Consolidated figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 706 | 1,212 | 1,550 | 1,772 | 2,047 | 2,108 |
| EBITDA | 46 | 197 | 278 | 225 | 271 | 267 |
| Net profit | 22 | 125 | 175 | 141 | 168 | 165 |
| EPS (₹) | 9.99 | 52.76 | 36.90 | 29.24 | 34.27 | 33.70 |
| Revenue growth | +71.7% | +27.9% | +14.3% | +15.5% | +14.0% | |
| Profit growth | +459.2% | +39.7% | -19.1% | +18.7% | +11.1% | |
| Dividend / share (₹) | – | 2.30 | 4.50 | 3.00 | 3.50 |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | +19.1% | +44.2% | +14.0% |
| Net profit | +10.3% | – | +11.1% |
| EPS | -13.4% | – | – |
| Share price | – | -26.2% (2y) | -38.4% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 426 | 823 | 953 | 1,115 |
| Borrowings | – | 60 | 42 | 20 | 0 |
| Cash & equivalents | – | 86 | 367 | 228 | 283 |
| Total assets | – | 748 | 1,144 | 1,319 | 1,446 |
| Fixed assets | – | 184 | 139 | 412 | 455 |
| Capital work in progress | – | 0 | 1 | 12 | 0 |
| Investments | – | 0 | 0 | 0 | 0 |
| Receivables | – | 169 | 165 | 243 | 261 |
| Inventory | – | 266 | 269 | 350 | 330 |
| Payables | – | 166 | 152 | 200 | 169 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | 16 | 51 | 217 | 57 | 173 |
| Cash from investing | 33 | -70 | -345 | -10 | -103 |
| Cash from financing | -14 | 20 | 164 | -75 | -73 |
| Capex | 44 | 50 | 111 | 145 | 70 |
| Free cash flow | -28 | 0 | 106 | -88 | 103 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | 29.4% | 21.2% | 14.8% | 15.1% |
| ROCE % | – | 35.6% | 27.7% | 20.0% | 20.2% |
| Debtor days | – | 51 | 39 | 50 | 47 |
| Inventory days | – | 139 | 120 | 133 | 111 |
| Payable days | – | 87 | 68 | 76 | 57 |
| Cash conversion cycle (days) | – | 103 | 91 | 107 | 101 |
| Working capital days | – | 90 | 139 | 122 | 119 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 44.70% |
| FIIs | 10.95% |
| DIIs | 28.55% |
| of which Mutual funds | 20.26% |
| of which Insurance | 1.96% |
| Public (non-institutions) | 15.81% |
| Quarter | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 45.41% | 45.41% | 45.41% | 44.91% | 44.70% | 44.70% | 44.70% | 44.70% |
| Promoter group | % |
|---|---|
| Sudhir Mohanlal Jatia | 36.74% |
| Safari Commercial LLP | 7.96% |
| Shalini Sanjay Jatia | 1.05% |
| Neeti Sudhir Jatia | 0.00% |
| Shivani Sudhir Jatia | 0.00% |
| Tanisha Sudhir Jatia | 0.00% |
| Banyan Rooted LLP | 0.00% |
| STJ Commercial LLP | 0.00% |
| Public holders above 1% | % |
|---|---|
| Malabar India Fund Limited | 5.16% |
| Invesco India Flexi Cap Fund | 3.67% |
| Lighthouse India Fund IV AIF | 3.08% |
| DSP Small Cap Fund | 2.65% |
| ICICI Prudential Flexi Cap Fund | 2.58% |
| Canara Robeco Mutual Fund A/C Canara Robeco Small Cap Fund | 2.42% |
| PI Opportunities AIF V LLP | 2.20% |
| Sundaram Mutual Fund A/C Sundaram Small Cap Fund | 2.11% |
| Bajaj Finserv Flexi Cap Fund | 1.91% |
| Mirae Asset Great Consumer Fund | 1.63% |
| Ashish Kacholia | 1.61% |
| Rajeev Chitrabhanu HUF | 1.53% |
| SBI Life Insurance Co. Ltd | 1.50% |
| Investor Education and Protection Fund Authority Ministry of Corporate Affairs | 1.44% |
| HSBC Mutual Fund - HSBC ELSS Tax Saver Fund | 1.13% |
35,380 shareholders. Pledged: – of promoter shares.
Peers in Plastic Products - Consumer
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| SHAILY | ₹13,731 cr | 77.6x | 19.2x | 28.0% | 27.9% | 28.7% | +17.7% | 0.06% |
| SAFARI | ₹6,017 cr | 36.4x | 5.4x | 15.9% | 19.8% | 12.7% | +19.1% | 0.29% |
| VIPIND | ₹3,710 cr | – | 12.8x | -83.6% | -43.7% | -10.7% | -3.7% | 0.01% |
| NILKAMAL | ₹2,444 cr | 19.6x | 1.6x | 8.1% | 10.8% | 8.9% | +6.5% | 1.22% |
| BAIKAKAJI | ₹605 cr | 18.0x | 3.9x | 17.5% | 28.4% | 14.3% | – | – |
| PILITA | ₹165 cr | 78.1x | 2.0x | 2.8% | 4.6% | 6.2% | +8.3% | – |
| PRIMAPLA | ₹124 cr | 6.3x | 0.7x | 9.4% | 13.2% | 17.8% | +4.8% | 8.68% |
| AVROIND | ₹75 cr | 17.8x | 0.8x | 4.9% | 6.7% | 2.2% | +5.8% | – |
| TOKYOPLAST | ₹69 cr | 197.0x | 1.1x | 0.6% | 3.2% | 8.1% | +1.6% | – |
| ATHARVA | ₹51 cr | 22.9x | 7.1x | 89.5% | 132.9% | 17.9% | – | – |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2026-07-17 | Dividend | Dividend - Rs 2 Per Share |
| 2025-11-14 | Dividend | Interim Dividend - Rs 2 Per Share |
| 2025-07-18 | Dividend | Dividend - Rs 1.50 Per Share |
| 2024-11-19 | Dividend | Interim Dividend - Rs 1.50 Per Share |
| 2024-07-12 | Other | Annual General Meeting |
| 2024-07-12 | Dividend | Dividend - Rs 1.50 Per Share |
| 2023-12-12 | Bonus | Bonus 1:1 |
| 2023-11-10 | Dividend | Interim Dividend - Rs 2.50 Per Share |
| 2023-07-14 | Dividend | Dividend - Rs 2 Per Share |
| 2023-07-14 | Other | Annual General Meeting |
| 2023-02-17 | Dividend | Interim Dividend - Rs 1.50 Per Share |
| 2022-07-14 | Dividend | Dividend - Rs 0.80 Per Share |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Annual report FY22
- Announcements NSE filings
- BRSR FY26
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
- Manufacturing: Manufacturer of luggage
- Trade: Retail and wholesale trading of luggage, backpacks and travel accessories
| Sector | Consumer Discretionary |
| Industry | Plastic Products - Consumer |
| Sub-industry | Plastic Products - Consumer |
| Symbol | SAFARI |
| BSE code | 523025 |
| ISIN | INE429E01023 |
| Face value | ₹2.0 |
| Incorporated | 1980-07-08 |
| Website | www.safaribags.com |
| Plants (India / abroad) | 3 / 0 |
From the company's filings (BRSR FY26).
Data built 2026-10-23 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.