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

• Market Cap: ₹99.00B
• Dividend Yield: 0.15%
• Average Volume (3M): 1.05K
• Price to Earnings (P/E): 66.4
• Beta (1Y): 0.17
• Revenue Growth: 17.51%
• EPS Growth: -13.86%
• Country: IN
• Employees: 999
• Sector: Consumer Cyclical
• Sector Strength: 71
• Industry: Apparel - Footwear & Accessories
• EPS (TTM): 10.30
• Shares Outstanding: 48,971,912
• 10 Day Avg. Volume: 1,234
• 30 Day Avg. Volume: 1,051
• 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: ₹2,272.00
• Price Target Upside: 11.98% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 1

• Rating: 61 Neutral
• Price Target: ₹2,272.00 ▲(11.98% Upside)

Safari Industries' strong revenue growth and operational performance are its main strengths, countered by valuation concerns with a high P/E ratio and low dividend yield. Technical indicators suggest bearish trends, and liquidity challenges are evident due to declining cash flow.

Safari Industries (India) Limited Business Overview & Revenue Model

Company Description

Safari Industries (India) Limited (SAFARI) is a prominent player in the luggage and travel accessory sector in India. The company designs, manufactures, and markets a wide range of products including suitcases, duffel bags, backpacks, and other travel-related accessories. With a strong emphasis on quality, innovation, and consumer satisfaction, Safari Industries caters to both domestic and international markets, offering products that blend style with functionality to meet the diverse needs of travelers.

How the Company Makes Money

Safari Industries (India) Limited generates revenue primarily through the sale of its luggage and travel accessory products. The company operates a diverse portfolio of brands that target different market segments, including premium, mid-range, and budget categories. Revenue streams are bolstered by a mix of direct sales through company-owned retail outlets and e-commerce platforms, as well as indirect sales via a wide network of distributors and retail partners across India and select international markets. Additionally, strategic partnerships with retailers and online marketplaces enhance product visibility and accessibility, contributing significantly to the company's earnings. Safari Industries' focus on product innovation and responsiveness to consumer trends also plays a crucial role in driving sales and sustaining competitive advantage in the market.

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 issues with declining cash reserves and negative free cash flow raise concerns about liquidity and cash flow management.

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 2023	Dec 2022	Dec 2022	Dec 2021
Income Statement
Total Revenue	17.72B	17.72B	15.50B	7.04B	12.12B	3.27B
Gross Profit	7.68B	8.09B	7.28B	2.43B	5.15B	1.30B
EBITDA	2.47B	2.25B	2.91B	539.27M	2.06B	-26.27M
Net Income	1.43B	1.43B	1.76B	223.68M	1.25B	-208.97M
Balance Sheet
Total Assets	13.19B	13.19B	11.44B	4.68B	7.48B	3.97B
Cash, Cash Equivalents and Short-Term Investments	2.28B	2.28B	3.67B	591.46M	892.28M	643.01M
Total Debt	1.25B	1.25B	1.46B	556.09M	1.39B	408.48M
Total Liabilities	3.66B	3.66B	3.21B	1.67B	3.22B	1.18B
Stockholders Equity	9.53B	9.53B	8.23B	3.01B	4.26B	2.79B
Cash Flow
Free Cash Flow	0.00	-881.20M	1.06B	-283.65M	3.41M	1.03B
Operating Cash Flow	0.00	573.20M	2.17B	156.43M	506.46M	1.11B
Investing Cash Flow	0.00	-96.60M	-3.45B	333.00M	-695.46M	-1.00B
Financing Cash Flow	0.00	-751.00M	1.64B	-140.79M	196.29M	-103.73M

Safari Industries (India) Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 2028.95
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• 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 Negative. The current price of 2028.95 is below the 20-day moving average (MA) of 2108.38, below the 50-day MA of 2151.50, and below the 200-day MA of 2237.70, indicating a bearish trend. The MACD of -33.27 indicates Positive momentum. The RSI at 33.90 is Neutral, neither overbought nor oversold. The STOCH value of 21.99 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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
KKCL	71 Outperform	₹31.48B	11.75		0.39%	30.23%	83.60%
ARVINDFASN	65 Neutral	₹68.52B	76.09		0.32%	7.62%	-124.65%
SAFARI	61 Neutral	₹99.00B	66.37		0.15%	17.51%	-13.86%
Sector *	61 Neutral	$17.22B	11.53	-5.99%	3.08%	1.40%	-15.51%
SAPPHIRE	57 Neutral	₹103.68B	1,154.11		―	10.62%	-76.06%
VIPIND	49 Neutral	₹58.64B	―		0.48%	-6.53%	-14491.90%