Safari Industries (India) Ltd.
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ABOUT
AI Sector View
AI GENERATEDConsumer Durables
Urban discretionary demand is mixed but investable. Credit card transactions rose 27.0% YoY (2026-06), urban CMIE sentiment was 109.5 (2026-07), and consumer spending remained large at INR 44743 billion (Jun/26), even though formal consumer confidence fell to 88.3 points (Jul/26) and debit card transactions were -9.0% YoY (2026-06). Heavy sector inflows of INR 13175 crore over 3 months to 2026-08-31 indicate strong investor positioning behind the theme.
PROS
- Company is almost debt free
- Company has a healthy return on capital (ROCE) of 26.1%
- Company has a good return on equity (ROE) track record: 3 Years ROE 20.3%
- Company has delivered good sales growth of 44.2% CAGR over last 5 years
- Company has consistently been profitable over the last 5 years
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 0.92x)
CONS
- Stock is trading at 6.4x its book value
- Operating margins have contracted to 12.3% from 16.1%
- Though reporting repeated profits, the company pays out little dividend (11.7%)
- Expensive relative to growth - PEG of 4.5
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| HINDUNILVR | 1934.00 | 30.38 | 454410.95 | 2.12 | 2680.00 | -3.18 | 17341.00 | 6.24 | 28.98 | 22.76 |
| GODREJCP | 864.60 | 46.24 | 88474.95 | 2.31 | 504.52 | 11.51 | 4225.47 | 16.02 | 17.96 | 18.96 |
| DABUR | 376.50 | 33.87 | 66789.48 | 2.19 | 586.16 | 15.32 | 3764.39 | 10.57 | 21.37 | 19.68 |
| COLPAL | 1797.60 | 112.63 | 48892.14 | 2.67 | 3430.80 | 970.05 | 16033.00 | 1018.01 | 110.06 | 30.12 |
| CUPID | 280.00 | 274.07 | 37650.50 | 0.00 | 441.49 | 2841.89 | 1569.80 | 2524.64 | 33.93 | 39.70 |
| PGHH | 7519.40 | 30.87 | 24408.53 | 3.39 | 126.27 | -34.25 | 891.46 | -4.67 | 157.81 | 19.08 |
| GILLETTE | 7307.85 | 35.64 | 23812.79 | 3.28 | 159.45 | 9.44 | 783.02 | 10.80 | 90.62 | 29.09 |
| EMAMILTD | 363.90 | 21.23 | 15884.24 | 2.75 | 138.94 | -15.41 | 1039.21 | 14.95 | 29.54 | 21.61 |
| GALAXYSURF | 2188.10 | 21.93 | 7757.85 | 1.01 | 165.92 | 108.73 | 1781.90 | 39.44 | 13.39 | 13.99 |
| SAFARI | 1543.70 | 45.83 | 7563.71 | 0.26 | 47.75 | -5.43 | 588.58 | 11.51 | 21.55 | 12.81 |
| SFL | 691.25 | 35.19 | 7548.68 | 0.14 | 62.34 | 770.67 | 1031.94 | 25.63 | 6.76 | 10.85 |
| JYOTHYLAB | 195.00 | 19.33 | 7160.68 | 1.79 | 76.27 | -2.41 | 666.96 | 1.06 | 30.71 | 15.49 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 427 | 370 | 388 | 365 | 450 | 458 | 443 | 421 | 528 | 534 | 512 | 473 | 589 | |
| 348 | 307 | 320 | 299 | 384 | 410 | 392 | 360 | 449 | 460 | 457 | 411 | 535 | |
| Operating Profit | 79 | 63 | 68 | 67 | 66 | 48 | 50 | 61 | 79 | 74 | 56 | 62 | 54 |
| OPM % | 18.52% | 17.15% | 17.56% | 18.29% | 14.64% | 10.46% | 11.38% | 14.45% | 15.02% | 13.88% | 10.86% | 13.06% | 9.15% |
| 2 | 3 | 4 | 5 | 8 | 7 | 7 | 6 | 6 | 6 | 6 | 7 | 7 | |
| Interest | 3 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 3 |
| Depreciation | 13 | 12 | 13 | 14 | 14 | 15 | 15 | 15 | 17 | 18 | 18 | 18 | 19 |
| Profit before Tax | 66 | 52 | 57 | 56 | 58 | 38 | 41 | 49 | 65 | 60 | 42 | 49 | 61 |
| Tax % | 24.05% | 23.38% | 24.12% | 22.76% | 22.78% | 21.62% | 23.66% | 23.95% | 22.85% | 21.94% | 21.20% | 23.62% | 21.79% |
| Net Profit | 0 | 0 | 0 | 0 | 44 | 30 | 31 | 38 | 50 | 47 | 33 | 37 | 48 |
| 10.53 | 8.38 | 9.02 | 9.00 | 9.11 | 6.07 | 6.37 | 7.69 | 10.33 | 9.58 | 6.72 | 7.65 | 9.75 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 344 | 419 | 578 | 686 | 328 | 705 | 1,212 | 1,550 | 1,772 | 2,047 | 2,108 | |
| 319 | 377 | 525 | 614 | 334 | 650 | 1,015 | 1,273 | 1,547 | 1,776 | 1,862 | |
| Operating Profit | 24 | 42 | 52 | 72 | -6 | 55 | 197 | 278 | 225 | 271 | 245 |
| OPM % | 7.09% | 10.01% | 9.08% | 10.49% | -1.96% | 7.83% | 16.24% | 17.90% | 12.69% | 13.22% | 11.64% |
| 0 | 1 | 1 | 1 | 4 | -1 | 9 | 14 | 29 | 25 | 26 | |
| Interest | 4 | 3 | 4 | 10 | 6 | 5 | 8 | 10 | 9 | 9 | 9 |
| Depreciation | 5 | 6 | 8 | 22 | 20 | 20 | 33 | 52 | 59 | 71 | 72 |
| Profit before Tax | 16 | 34 | 41 | 40 | -29 | 29 | 165 | 230 | 186 | 216 | 212 |
| Tax % | 34.50% | 36.32% | 33.60% | 23.76% | 27.53% | 23.17% | 24.21% | 23.60% | 23.05% | 22.46% | 22.14% |
| Net Profit | 10 | 22 | 27 | 31 | -21 | 22 | 125 | 176 | 143 | 168 | 165 |
| EPS | 4.90 | 10.05 | 12.17 | 13.71 | -9.34 | 9.54 | 26.21 | 36.06 | 29.20 | 34.24 | — |
| Dividend Payout % | 8.15% | 5.17% | 4.10% | 0.00% | 0.00% | 8.01% | 6.63% | 11.09% | 10.27% | 11.68% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 22%
- 5 Years:
- 44%
- 3 Years:
- 19%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 36%
- 5 Years:
- —
- 3 Years:
- 10%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- 29%
- 3 Years:
- -4%
- 1 Year:
- -30%
RETURN ON EQUITY
- 10 Years:
- 15%
- 5 Years:
- 21%
- 3 Years:
- 20%
- Last Year:
- 16%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| 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 | 5 | 10 | 10 | 10 |
| 97 | 167 | 195 | 226 | 274 | 296 | 416 | 809 | 939 | 1,094 | |
| 41 | 54 | 104 | 101 | 32 | 42 | 117 | 108 | 92 | 89 | |
| Trade Payables | 48 | 41 | 69 | 61 | 71 | 100 | 166 | 152 | 200 | 169 |
| 14 | 18 | 14 | 22 | 4 | 19 | 40 | 59 | 71 | 76 | |
| Total Liabilities | 203 | 286 | 386 | 414 | 386 | 462 | 744 | 1,138 | 1,312 | 1,437 |
| 23 | 31 | 29 | 79 | 67 | 96 | 184 | 293 | 414 | 456 | |
| Capital Work in Progress | 0 | 0 | 0 | 0 | 0 | 20 | 0 | 1 | 12 | 0 |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 149 | 3 | 13 | |
| 94 | 123 | 187 | 160 | 114 | 146 | 266 | 269 | 350 | 330 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 165 | 243 | 261 | |
| Cash & Bank | 5 | 3 | 1 | 2 | 65 | 59 | 86 | 218 | 227 | 270 |
| 80 | 129 | 169 | 173 | 141 | 141 | 207 | 42 | 62 | 106 | |
| Total Assets | 203 | 286 | 386 | 414 | 386 | 462 | 744 | 1,138 | 1,312 | 1,437 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 30 | -37 | -22 | 84 | 110 | 18 | 87 | 217 | 57 | 173 | |
| Cash from Investing | -6 | -13 | -7 | -21 | -98 | -4 | -70 | -345 | -10 | -103 |
| Cash from Financing | -19 | 59 | 45 | -50 | -10 | -14 | 20 | 164 | -75 | -73 |
| -2 | -2 | -0 | 1 | 3 | -2 | 1 | 36 | -27 | -3 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-08 - Safari Industries (India) Limited has informed the Exchange about General Updates
2026-08-06 - Safari Industries (India) Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on August 04, 2026. Further, the company has informed the Exchange regarding voting results.
2026-08-05 - Safari Industries (India) Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-04 - Safari Industries (India) Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on August 04, 2026
2026-08-04 - Safari Industries (India) Limited has submitted to the Exchange, the unaudited financial results for the quarter ended Jun 30, 2026.
2026-08-04 - Safari Industries (India) Limited has informed the Exchange about change in Management
2026-08-03 - Safari Industries (India) Limited has informed the Exchange regarding Outcome of Committee Meeting held on August 03, 2026.
2026-08-03 - Safari Industries (India) Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-03 - Safari Industries (India) Limited has informed the Exchange about General Updates
News
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