SAFARI

Safari Industries (India) Limited

Luggage and travel accessories brand with hard and soft luggage products

Consumer Discretionary›Consumer Durables›Consumer Durables›Plastic Products - Consumer

safaribags.com(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹1315.10
Market cap
6,443 Cr
Stock P/E
39.0
P/B
5.78
Dividend yield
0.3%
ROE (FY26)
15.1%
ROCE (FY26)
20.2%
Operating margin (FY26)
9.8%
Debt / equity (FY26)
0.00
OCF / EBITDA (FY26)
64.0%
OCF / EBITDA (3Y)
57.9%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

Safari (Safari Industries (India)) makes and markets luggage, backpacks and other travel accessories, selling mainly in India.

Company snapshot

2ndBy market cap

Ranked among 9 companies in Plastic Products - Consumer.

What we see

Positives
  • ✓Debt-to-equity of 0.00x — the company is largely funded by its own money, not borrowed funds.
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Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales370 Cr388 Cr365 Cr450 Cr458 Cr443 Cr421 Cr528 Cr534 Cr512 Cr473 Cr589 Cr
Operating expenses (approx.)307 Cr320 Cr299 Cr384 Cr410 Cr392 Cr360 Cr449 Cr460 Cr457 Cr411 Cr513 Cr
EBITDA63 Cr68 Cr67 Cr66 Cr48 Cr50 Cr61 Cr79 Cr74 Cr56 Cr62 Cr75 Cr
OPM %17.2%17.6%18.3%14.6%10.5%11.4%14.5%15.0%13.9%10.9%13.1%12.8%
Other income3 Cr4 Cr5 Cr8 Cr7 Cr7 Cr6 Cr6 Cr6 Cr6 Cr7 Cr7 Cr
Interest2 Cr2 Cr2 Cr2 Cr2 Cr2 Cr2 Cr2 Cr2 Cr2 Cr2 Cr3 Cr
Depreciation12 Cr13 Cr14 Cr14 Cr15 Cr15 Cr15 Cr17 Cr18 Cr18 Cr18 Cr19 Cr
Profit before tax52 Cr57 Cr56 Cr58 Cr38 Cr41 Cr49 Cr65 Cr60 Cr42 Cr49 Cr61 Cr
Tax %23.4%24.1%22.8%22.8%21.6%23.7%24.0%22.8%21.9%21.2%23.6%21.8%
Net profit40 Cr43 Cr43 Cr44 Cr30 Cr31 Cr38 Cr50 Cr47 Cr33 Cr37 Cr48 Cr
EPS (₹)₹16.74₹9.02₹9.00₹9.11₹6.07₹6.37₹7.69₹10.33₹9.58₹6.72₹7.65₹9.75

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales352 Cr420 Cr578 Cr686 Cr328 Cr706 Cr1,212 Cr1,550 Cr1,772 Cr2,047 CrSign in free for the trailing twelve months
Operating expenses (approx.)328 Cr379 Cr525 Cr614 Cr334 Cr650 Cr1,015 Cr1,273 Cr1,547 Cr1,776 CrSign in free for the trailing twelve months
EBITDA24 Cr41 Cr52 Cr72 Cr-6 Cr55 Cr197 Cr278 Cr225 Cr271 CrSign in free for the trailing twelve months
OPM %6.9%9.8%9.1%10.5%-1.8%7.8%16.2%17.9%12.7%13.2%Sign in free for the trailing twelve months
Other income1 Cr2 Cr1 Cr0.95 Cr3 Cr8 Cr9 Cr14 Cr28 Cr25 CrSign in free for the trailing twelve months
Interest4 Cr3 Cr4 Cr10 Cr6 Cr5 Cr8 Cr10 Cr9 Cr9 CrSign in free for the trailing twelve months
Depreciation5 Cr6 Cr8 Cr22 Cr20 Cr20 Cr33 Cr52 Cr59 Cr71 CrSign in free for the trailing twelve months
Profit before tax16 Cr34 Cr41 Cr40 Cr-29 Cr29 Cr165 Cr230 Cr186 Cr216 CrSign in free for the trailing twelve months
Tax %34.5%36.3%33.6%23.8%27.5%23.2%24.2%23.6%23.0%22.5%Sign in free for the trailing twelve months
Net profit10 Cr22 Cr27 Cr31 Cr-21 Cr22 Cr125 Cr176 Cr143 Cr168 CrSign in free for the trailing twelve months
EPS (₹)₹4.91₹10.08₹12.20₹13.72₹-9.34₹9.99₹52.76₹36.90₹29.24₹34.27Sign in free for the trailing twelve months
Dividend payout %—————0.0%4.3%6.0%10.2%10.2%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital4 Cr4 Cr4 Cr4 Cr4 Cr4 Cr5 Cr10 Cr10 Cr10 Cr
Reserves97 Cr168 Cr196 Cr226 Cr275 Cr297 Cr421 Cr814 Cr944 Cr1,105 Cr
Borrowings41 Cr54 Cr104 Cr75 Cr5 Cr11 Cr60 Cr42 Cr20 Cr—
Other liabilities56 Cr54 Cr79 Cr111 Cr113 Cr156 Cr262 Cr279 Cr346 Cr332 Cr
Total liabilities198 Cr281 Cr383 Cr416 Cr397 Cr468 Cr748 Cr1,144 Cr1,319 Cr1,446 Cr
Fixed assets (net)19 Cr27 Cr26 Cr78 Cr66 Cr95 Cr184 Cr139 Cr412 Cr455 Cr
CWIP—0.01 Cr—0.23 Cr0.07 Cr20 Cr0 Cr1 Cr12 Cr0.31 Cr
Investments——0 Cr0 Cr0 Cr0 Cr0 Cr149 Cr3 Cr13 Cr
Inventories94 Cr123 Cr187 Cr160 Cr114 Cr146 Cr266 Cr269 Cr350 Cr330 Cr
Trade receivables58 Cr104 Cr140 Cr147 Cr90 Cr115 Cr169 Cr165 Cr243 Cr261 Cr
Cash & bank2 Cr0.49 Cr0.67 Cr1 Cr2 Cr39 Cr3 Cr39 Cr12 Cr8 Cr
Other assets24 Cr27 Cr29 Cr29 Cr125 Cr53 Cr126 Cr381 Cr286 Cr379 Cr
Total assets198 Cr281 Cr383 Cr416 Cr397 Cr468 Cr748 Cr1,144 Cr1,319 Cr1,446 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity24 Cr-48 Cr-38 Cr72 Cr111 Cr16 Cr51 Cr217 Cr57 Cr173 Cr
Cash from investing-6 Cr-13 Cr-7 Cr-21 Cr-100 Cr33 Cr-70 Cr-345 Cr-10 Cr-103 Cr
Cash from financing-19 Cr59 Cr45 Cr-50 Cr-10 Cr-14 Cr20 Cr164 Cr-75 Cr-73 Cr
Net cash flow-2 Cr-2 Cr-0.06 Cr0.73 Cr0.64 Cr35 Cr0.73 Cr36 Cr-27 Cr-3 Cr
Free cash flow (OCF − Capex)19 Cr-64 Cr-48 Cr51 Cr103 Cr-28 Cr0.34 Cr106 Cr-88 Cr103 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %13.6%16.2%14.9%16.5%-8.1%10.9%35.6%27.7%20.0%20.2%
ROE %10.1%12.5%13.6%13.3%-7.5%7.4%29.4%21.3%15.0%15.1%
Debtor days609088781005951395046
Inventory days10741074936568733297278213215188
Days payable54341436921845020917412012396
Cash conversion cycle592750655429383147155132142138
OCF / EBITDA %99.8%-116.5%-72.9%99.9%—28.3%25.7%78.2%25.5%64.0%
OCF / EBITDA % (3 years)——-52.8%-8.8%122.2%163.8%72.1%53.5%46.5%57.9%
Debt / equity0.400.310.520.320.020.040.140.050.020.00
Current ratio1.822.311.902.053.012.452.233.563.153.79
Net debt / EBITDA1.591.301.961.02—-0.510.290.00930.04-0.03