Safari Industries(I)

₹2007.1 25 | 1.3%

WEBSITE BSE:523025 NSE : SAFARI IND. 10 May, 16:01

Market Cap ₹9788 Cr.

Stock P/E 55.8

P/B 12.4

Current Price ₹2007.1

Book Value ₹ 162

Face Value 2

52W High ₹2640

Dividend Yield 0.17%

52W Low ₹ 1186.6

Edit Ratio

Safari Industries(I) Research see more...

Overview Inc. Year: 1980Industry: Household & Personal Products

Safari Industries (India) Ltd is engaged in manufacturing and buying and selling of bags and baggage accessories. The Company's product range includes polycarbonate (PC) zippered bags. It also offers merchandise underneath various classes, inclusive of laptop bags and backpacks. Its Hard bags consists of Maximus 59 4W-Cyan-Cabin, Truce 71 4W-Silver-Medium, SIGMA 56 4W, SIGMA 65 4W, ORB 55 4W. Its Soft luggage consists of Swift 55 4W-Red-Cabin, Swift 75 4W-Back-Large, AVENUE-4W-Blue-Cabin, Mosaic 4W-Silver-Medium. Its lightweight luggage includes ORB 77 4W, VIBE 55 4W and TITANIUM 55 4W. It backpacks categories consist of Everyday Casual Backpack, Laptop Backpacks, Rucksack, Concept Backpacks, Overnighter.

Safari Industries(I) Share Price

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Price

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Peer Comparison

Safari Industries(I) Quarterly Results

#(Fig in Cr.)	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023
Net Sales	189	204	193	293	314	303	303	427	370	388
Other Income	2	2	2	2	3	3	3	2	3	4
Total Income	191	206	194	295	316	305	305	429	373	392
Total Expenditure	171	191	176	251	272	248	244	348	307	320
Operating Profit	20	16	19	43	44	58	61	81	66	72
Interest	1	1	1	1	2	3	2	3	2	2
Depreciation	5	5	6	7	8	9	9	13	12	13
Exceptional Income / Expenses	0	0	-9	0	0	0	0	0	0	0
Profit Before Tax	14	9	3	35	35	46	50	66	52	57
Provision for Tax	3	2	0	9	9	11	12	16	12	14
Profit After Tax	11	7	2	27	26	34	38	50	40	43
Adjustments	0	0	0	0	0	0	-0	0	0	0
Profit After Adjustments	11	7	2	27	26	34	38	50	40	43
Adjusted Earnings Per Share	2.4	1.5	0.5	5.9	5.5	7.3	8	10.5	8.4	9

Safari Industries(I) Profit & Loss

#(Fig in Cr.)	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Net Sales	166	216	278	344	419	578	686	328	705	1212	1488
Other Income	1	1	1	1	1	1	1	4	8	9	12
Total Income	167	217	279	345	420	579	687	332	713	1221	1499
Total Expenditure	159	204	260	319	377	525	614	334	650	1015	1219
Operating Profit	8	13	19	25	43	54	73	-3	63	206	280
Interest	6	3	3	4	3	4	10	6	5	8	9
Depreciation	1	3	4	5	6	8	22	20	20	33	47
Exceptional Income / Expenses	-0	-1	-0	-1	0	0	0	0	-9	0	0
Profit Before Tax	1	6	12	16	34	41	40	-29	29	165	225
Provision for Tax	0	2	4	5	12	14	10	-8	7	40	54
Profit After Tax	0	4	8	10	22	27	31	-21	22	125	171
Adjustments	0	0	0	0	0	0	0	0	0	0	0
Profit After Adjustments	0	4	8	10	22	27	31	-21	22	125	171
Adjusted Earnings Per Share	0	1.1	1.9	2.5	4.8	6.1	6.9	-4.7	5	26.4	35.9

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	72%	21%	24%	0%
Operating Profit CAGR	227%	41%	37%	0%
PAT CAGR	468%	59%	42%	0%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	56%	89%	42%	46%
ROE Average	35%	11%	13%	11%
ROCE Average	43%	16%	16%	14%

Safari Industries(I) Balance Sheet

#(Fig in Cr.)	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Shareholder's Funds	12	76	91	101	173	201	231	279	301	426
Minority's Interest	0	0	0	0	0	0	0	0	0	0
Borrowings	3	0	3	3	2	1	1	2	0	21
Other Non-Current Liabilities	0	-0	0	0	0	-1	24	12	24	53
Total Current Liabilities	86	53	83	98	111	184	159	93	137	244
Total Liabilities	102	129	177	203	286	386	414	386	462	744
Fixed Assets	12	12	24	23	31	29	79	67	96	184
Other Non-Current Assets	4	8	9	4	6	9	9	40	30	16
Total Current Assets	86	109	143	175	249	347	326	280	335	545
Total Assets	102	129	177	203	286	386	414	386	462	744

Safari Industries(I) Cash Flow

#(Fig in Cr.)	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Opening Cash & Cash Equivalents	2	2	3	4	2	0	0	1	4	2
Cash Flow from Operating Activities	-3	-32	-13	24	-48	-38	71	111	16	51
Cash Flow from Investing Activities	-9	-3	-15	-6	-13	-7	-21	-98	-4	-70
Cash Flow from Financing Activities	12	36	29	-19	59	45	-50	-10	-14	20
Net Cash Inflow / Outflow	-0	1	1	-2	-2	-0	1	3	-2	1
Closing Cash & Cash Equivalent	2	3	4	2	0	0	1	4	2	3

Safari Industries(I) Ratios

#	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Earnings Per Share (Rs)	0.04	1.07	1.87	2.45	4.84	6.09	6.86	-4.67	5	26.38
CEPS(Rs)	0.47	1.79	2.85	3.69	6.23	7.95	11.88	-0.11	9.44	33.4
DPS(Rs)	0	0.2	0.24	0.4	0.5	0.5	0	0	0.8	3.5
Book NAV/Share(Rs)	4.13	18.57	21.94	24.28	38.59	44.72	51.44	62.28	67.17	88.77
Core EBITDA Margin(%)	4.14	5.58	6.51	6.92	9.94	9.08	10	-1.96	7.46	15.33
EBIT Margin(%)	3.57	4.1	5.34	5.52	8.7	7.87	7.01	-7.03	4.6	13.47
Pre Tax Margin(%)	0.32	2.63	4.19	4.41	8.02	7.09	5.59	-8.79	3.93	12.85
PAT Margin (%)	0.07	1.93	2.72	2.89	5.11	4.71	4.26	-6.37	3.02	9.74
Cash Profit Margin (%)	0.81	3.24	4.14	4.35	6.57	6.15	7.39	-0.14	5.71	12.34
ROA(%)	0.11	3.69	5.07	5.37	8.82	8.1	7.67	-5.23	5.28	20.75
ROE(%)	0.94	9.87	9.39	10.62	15.81	14.65	14.27	-8.21	7.72	34.66
ROCE(%)	9.18	10.27	11.77	13.31	19.81	17.06	16.52	-7.75	11.33	43.37
Receivable days	67.6	59.44	60.32	58.2	67.54	75.18	72.98	132.33	50.51	40.35
Inventory Days	98.86	87.61	86.94	88.27	93.75	97.66	87.95	152.47	64.1	58.63
Payable days	127.83	66.69	38.21	60.21	72.93	61.18	62.88	129.14	71.9	72.22
PER(x)	966.62	74.95	53.5	57.35	55.25	59.45	29.27	0	96.95	38.82
Price/Book(x)	9.09	4.32	4.55	5.8	6.93	8.1	3.9	4.86	7.21	11.54
Dividend Yield(%)	0	0.12	0.12	0.14	0.09	0.07	0	0	0.08	0.17
EV/Net Sales(x)	0.98	1.61	1.68	1.81	2.96	2.98	1.42	3.96	3.01	3.99
EV/Core EBITDA(x)	21.26	27.02	24.16	24.38	28.97	32.02	13.32	-494.7	33.54	23.41
Net Sales Growth(%)	0	29.72	28.8	23.52	21.98	37.85	18.73	-52.18	115.01	71.87
EBIT Growth(%)	0	47.92	68.42	27.65	88.8	23.79	10.97	-145.71	247.66	408.32
PAT Growth(%)	0	3572.45	81.85	31.41	111.49	26.32	12.7	-168.15	207.04	459.25
EPS Growth(%)	0	2656.19	74.62	31.41	97.23	25.89	12.51	-168.08	207.02	428.07
Debt/Equity(x)	4.4	0.45	0.64	0.42	0.32	0.52	0.33	0.03	0.04	0.14
Current Ratio(x)	1	2.06	1.73	1.78	2.25	1.88	2.05	3.01	2.45	2.23
Quick Ratio(x)	0.46	0.93	0.81	0.82	1.14	0.87	1.04	1.78	1.38	1.14
Interest Cover(x)	1.1	2.79	4.64	4.99	12.71	10.16	4.94	-3.98	6.91	21.71
Total Debt/Mcap(x)	0.48	0.1	0.14	0.07	0.05	0.06	0.08	0.01	0.01	0.01

Safari Industries(I) Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	49.89	50.02	50.01	47.24	47.23	47.23	47.23	46.97	46.88	45.73
FII	16.28	16.21	15.77	15.14	15.53	15.93	12.3	12.95	13.44	13.14
DII	6.15	5.87	6.73	11.89	12.02	12.61	17	17.51	16.76	20.52
Public	27.69	27.89	27.48	25.73	25.22	24.22	23.46	22.58	22.92	20.61
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	1.12	1.12	1.12	1.12	1.12	1.12	1.12	1.12	2.23	2.23
FII	0.36	0.36	0.35	0.36	0.37	0.38	0.29	0.31	0.64	0.64
DII	0.14	0.13	0.15	0.28	0.28	0.3	0.4	0.42	0.8	1
Public	0.62	0.62	0.62	0.61	0.6	0.57	0.56	0.54	1.09	1.01
Others	0	0	0	0	0	0	0	0	0	0
Total	2.24	2.24	2.24	2.37	2.37	2.37	2.37	2.38	4.76	4.88

Pros

Company has delivered good profit growth of 41% CAGR over last 5 years
Company is almost debt free.

Cons

Promoter holding is low: 45.73%.
Company has a low return on equity of 11% over the last 3 years.
Debtor days have increased from 71.9 to 72.22days.
Stock is trading at 12.4 times its book value.

* 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.