Safari Industries is in the business of manufacturing and trading of luggage and luggage accessories. There are two broad categories of luggage i.e hard luggage and soft luggage. Hard luggages are mainly made of PolyPropylene (PP) and Polycarbonate (PC) and manufactured in-house by Safari at its Plant located at Halol, Gujarat. Soft luggages are made of fabrics of various kinds and are mainly imported. Presenting below are its Q1 FY26 earnings.
Q1 FY26 Earnings Results
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Consolidated Revenue: ₹527.8 crore, up 17.3% year-over-year (YoY).
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Net Profit (PAT): ₹50.5 crore, up 13.7% YoY (Q1 FY25: ₹44.4 crore).
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EBITDA: ₹65.3 crore, up 6.7% YoY (Q1 FY25: ₹61.2 crore).
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Profit Before Tax (PBT): ₹65.44 crore, up 13.8% YoY.
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Operating Margin: Approximately 12.7%, slightly softer YoY on the back of higher operating expenses.
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EPS: ₹10.33, up from ₹9.11 in the same quarter last year.
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Growth Drivers: Revenue momentum driven by continued recovery in consumer demand for travel/luggage products, network expansion, and brand strengthening. Raw material costs remained elevated, but scale and cost efficiencies helped offset some margin pressures.
Key Management Commentary & Strategic Highlights
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Management attributed the strong revenue and net profit growth to robust consumer sentiment, new collection launches, and an expanded sales footprint, especially in emerging markets and online platforms.
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Efforts continued in balancing premiumization (more hard luggage, new Urban Jungle line) and value products while optimizing supply chain and distribution.
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Focus remains on improving operating margins for FY26 through operational efficiency, scale benefits, and tight cost controls. Margin expansion of 200bps is targeted by management through these routes.
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The new North India plant is now fully operational and expected to further boost scale in forthcoming quarters.
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The company announced a final dividend of ₹1.50 per share for FY25.
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Outlook: Management maintains a cautiously optimistic stance for FY26, expecting travel and discretionary spending to trend upward as macro conditions normalize, with continued investment in capacity and product innovation.
Q4 FY25 Earnings Results
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Revenue from Operations: ₹421.1 crore, up 15.2% YoY.
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Net Profit (PAT): ₹37.6 crore, down 13% YoY (Q4 FY24: ₹43.2 crore).
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EBITDA: Around ₹51–53.8 crore; margin about 12–12.7%.
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Profit Before Tax (PBT): ₹49.4 crore, down 11.6% YoY.
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EPS: ₹7.69 vs ₹9 in Q4 FY24.
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The quarter saw strong revenue growth but margin and profit moderated by higher operating costs and input inflation.
To view the company’s previous earnings: Please Visit Here