Safari Industries (India) Limited (SAFARI) AI Stock Analysis

• Market Cap: ₹111.52B
• Dividend Yield: 0.22%
• Average Volume (3M): 1.45K
• Price to Earnings (P/E): 67.0
• Beta (1Y): 0.42
• Revenue Growth: 15.87%
• EPS Growth: 2.76%
• Country: IN
• Employees: 999
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Apparel - Footwear & Accessories
• EPS (TTM): 9.60
• Shares Outstanding: 48,992,280
• 10 Day Avg. Volume: 929
• 30 Day Avg. Volume: 1,453
• PEG Ratio: -3.21
• Price to Book (P/B): 9.98
• Price to Sales (P/S): 5.37
• P/FCF Ratio: -107.94
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: Hold
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 71 Outperform
• Price Target: ₹2,629.00 ▲(15.50% Upside)

Safari Industries benefits from strong financial performance and positive technical indicators, but faces challenges with liquidity and high valuation. The stock's upward momentum is tempered by potential overvaluation and limited dividend yield.

Positive Factors

Revenue Growth

Consistent revenue growth indicates strong market demand and effective sales strategies, supporting long-term business expansion and stability.

Market Position

Being a leading player in its industry, Safari Industries benefits from brand recognition and customer loyalty, providing a competitive edge.

Product Innovation

Continuous product innovation helps Safari Industries meet evolving consumer needs, ensuring sustained relevance and competitive advantage.

Negative Factors

Liquidity Concerns

Declining cash reserves and cash flow challenges may limit the company's ability to invest in growth opportunities and meet short-term obligations.

Cash Flow Issues

Negative free cash flow and declining operating cash flow can hinder the company's ability to fund operations and growth internally, impacting financial health.

Net Profit Margin Decline

A declining net profit margin suggests increasing costs or inefficiencies, which could pressure profitability if not addressed.

Safari Industries (India) Limited Business Overview & Revenue Model

Company Description

Safari Industries (India) Limited manufactures and markets luggage and luggage related accessories in India. The company's products include hard and soft luggage bags; laptop, rain cover, and formal backpacks; and overnighters. It sells its products under the Safari, Magnum, Genius, and Genie brands through stores, as well as through online. The company was incorporated in 1980 and is based in Mumbai, India.

How the Company Makes Money

Safari Industries generates revenue primarily through the sale of its travel and lifestyle products across various channels, including retail outlets, e-commerce platforms, and wholesale distribution. The company has established a strong distribution network that allows it to reach a wide customer base. Key revenue streams include direct sales from branded stores, partnerships with major retail chains, and online sales through its own website and third-party platforms. Additionally, SAFARI may benefit from seasonal sales and promotional campaigns, which can drive higher sales volumes during peak travel periods. The company also focuses on expanding its product range and enhancing brand visibility, which contributes to customer loyalty and repeat purchases.

Safari Industries (India) Limited Financial Statement Overview

Summary

Safari Industries shows strong revenue growth and healthy margins. The balance sheet is stable with low leverage, but liquidity concerns arise from declining cash reserves and cash flow challenges.

Income Statement

Safari Industries has demonstrated strong revenue growth over the past few years, with a notable increase from 2024 to 2025. The gross profit margin has remained healthy, suggesting efficient cost management. However, the net profit margin has decreased, indicating rising expenses or other financial pressures. EBIT and EBITDA margins are strong, reflecting solid operational performance.

Balance Sheet

The company's balance sheet shows a solid equity position, with a high equity ratio indicating financial stability. The debt-to-equity ratio is relatively low, suggesting manageable leverage. However, there is a significant decrease in cash and short-term investments, which could affect liquidity if not managed carefully.

Cash Flow

The cash flow statement reveals a decline in operating cash flow and negative free cash flow in recent years, which could pressure the company's ability to fund operations and growth internally. The operating cash flow to net income ratio is low, indicating potential cash generation issues. However, the company has managed financing activities to offset some cash flow deficits.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	18.49B	17.72B	15.50B	12.12B	7.04B	3.27B
Gross Profit	8.51B	8.09B	7.28B	5.15B	2.43B	1.30B
EBITDA	2.58B	2.25B	2.91B	2.06B	539.27M	-26.27M
Net Income	1.49B	1.43B	1.76B	1.25B	223.68M	-208.97M
Balance Sheet
Total Assets	0.00	13.19B	11.44B	7.48B	4.68B	3.97B
Cash, Cash Equivalents and Short-Term Investments	2.28B	2.28B	3.67B	866.50M	591.46M	643.01M
Total Debt	0.00	1.25B	1.46B	1.39B	556.09M	408.48M
Total Liabilities	-9.53B	3.66B	3.21B	3.22B	1.67B	1.18B
Stockholders Equity	9.53B	9.53B	8.23B	4.26B	3.01B	2.79B
Cash Flow
Free Cash Flow	0.00	-881.20M	1.06B	3.41M	-283.65M	1.03B
Operating Cash Flow	0.00	573.20M	2.17B	506.46M	156.43M	1.11B
Investing Cash Flow	0.00	-96.60M	-3.45B	-695.46M	333.00M	-976.05M
Financing Cash Flow	0.00	-751.00M	1.64B	196.29M	-140.79M	-103.73M

Safari Industries (India) Limited Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 2276.25
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:SAFARI, the sentiment is Positive. The current price of 2276.25 is below the 20-day moving average (MA) of 2317.42, above the 50-day MA of 2247.16, and above the 200-day MA of 2157.08, indicating a neutral trend. The MACD of -17.71 indicates Positive momentum. The RSI at 49.75 is Neutral, neither overbought nor oversold. The STOCH value of 37.87 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:SAFARI.

Safari Industries (India) Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SAFARI	71 Outperform	₹111.52B	67.01	―	0.22%	15.87%	2.76%
KKCL	66 Neutral	₹29.75B	22.90	―	0.41%	28.67%	-20.77%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
ARVINDFASN	56 Neutral	₹69.15B	-417.39	―	0.31%	10.72%	-115.52%
SAPPHIRE	50 Neutral	₹81.08B	-10,600.84	―	―	10.18%	-104.25%
VIPIND	47 Neutral	₹57.98B	-29.57	―	―	-12.59%	-328.41%

Safari Industries (India) Limited Corporate Events

Safari Industries Schedules Investor Meeting with HDFC Asset Management

Safari Industries (India) Limited has announced a scheduled one-on-one meeting with HDFC Asset Management Company Limited on December 9, 2025. This interaction is part of the company’s ongoing efforts to engage with analysts and investors, though no unpublished price-sensitive information will be shared. Such meetings are crucial for maintaining transparency and fostering investor relations, potentially impacting the company’s market perception and stakeholder confidence.

Safari Industries Clarifies Share Volume Surge Amid Market Conditions

Safari Industries (India) Limited has experienced a significant increase in the volume of its shares, prompting an inquiry from the National Stock Exchange of India. The company clarified that all necessary disclosures have been made in compliance with SEBI regulations and attributed the volume increase to market conditions, asserting that the management is not involved in influencing the share movement.

Safari Industries Expands Equity Through ESOP Allotment

Safari Industries (India) Limited announced the approval of allotment of 1,200 equity shares to an ESOP grantee as part of its Employee Stock Option Scheme 2016. This move will slightly increase the company’s issued, subscribed, and paid-up equity share capital, reflecting its commitment to rewarding employees and potentially enhancing stakeholder value.