Safari Industries packs up FY18 with strong performance

Safari Industries reported its results for the quarter ended March 31, 2018. The company’s standalone revenue for the quarter came in at Rs. 119.28 crore, registering 26 per cent yoy increase.

EBITDA for the quarter rose by 67 per cent yoy to Rs. 13.83 crore with a corresponding margin expansion of 285 bps. EBITDA margin for the quarter stood at 11.6 per cent. The PAT for the quarter came in at Rs. 7.65 crore, yoy increase of 81.4 per cent.

Looking at the full year numbers, we see that revenue jumped by 19 per cent to reach Rs.418 crore while EBITDA rose by 71 per cent to 40.825 crore. Company reported net profit of Rs.21.21 crore, up 111 per cent yoy.

The Board of Directors has recommended a final dividend of Rs. 0.50 per equity share of Rs. 2 each.

The company is engaged in the manufacturing and trading of luggage and luggage accessories. Its product range includes polycarbonate (PC) zippered luggage, laptop bags, backpacks, duffle bags and trolley bags. It is the third largest branded player in the Indian luggage industry after VIP Industries and Samsonite. Safari Industries enjoys around 14-15 per cent market share.

On Monday, the stock was trading volatile ahead of the announcement of its quarterly result. The stock opened at Rs. 643.45 per share and tanked nearly 5 per cent and made intra-day low of Rs. 610. However, with the strong quarterly numbers, the stock seen turnaround and made an intra-day high of Rs. 650.