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Last Updated: April 2, 2026, 3:36 am
Author: Getaka|Social: XLinkedIn

Safari Industries (India) Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹1,197.78Overvalued by 21.35%vs CMP ₹1,523.00

P/E (44.4) × ROE (15.8%) × BV (₹213.00) × DY (0.20%)

₹778.94Overvalued by 48.85%vs CMP ₹1,523.00
MoS: -95.5% (Negative)Confidence: 59/100 (Moderate)Models: 1 Under, 7 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹1,761.3325%Under (+15.6%)
Graham NumberEarnings₹405.5018%Over (-73.4%)
Earnings PowerEarnings₹224.4112%Over (-85.3%)
DCFCash Flow₹818.1912%Over (-46.3%)
Net Asset ValueAssets₹213.298%Over (-86%)
EV/EBITDAEnterprise₹556.5810%Over (-63.5%)
Earnings YieldEarnings₹343.108%Over (-77.5%)
Revenue MultipleRevenue₹542.506%Over (-64.4%)
Consensus (8 models)₹778.94100%Overvalued
Key Drivers: EPS CAGR 47.0% lifts DCF — verify sustainability. | Wide model spread (₹213–₹1,761) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 47.0%

*Investments are subject to market risks

Investment Snapshot

70
Safari Industries (India) Ltd scores 70/100 (Strong)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health73/100 · Strong
ROCE 18.7% GoodROE 15.8% GoodD/E 0.02 Low debtInterest Coverage 0.0x RiskyProfitable 4/5 years Consistent
Smart Money65/100 · Strong
FII holding stable No changeDII holding up 2.85% MF buyingPromoter holding at 44.7% Stable
Earnings Quality65/100 · Strong
OPM expanding (12% → 16%) Improving
Quarterly Momentum68/100 · Strong
Revenue (4Q): +16% YoY GrowingProfit (4Q): +14% YoY Positive
Industry Rank75/100 · Strong
P/E 44.4 vs industry 39.6 In-lineROCE 18.7% vs industry 12.8% Above peers3Y sales CAGR: 36% High growth

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 3:36 am

Market Cap 7,462 Cr.
Current Price 1,523
Intrinsic Value₹778.94
High / Low 2,507/1,391
Stock P/E44.4
Book Value 213
Dividend Yield0.20 %
ROCE18.7 %
ROE15.8 %
Face Value 2.00
PEG Ratio0.94

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Safari Industries (India) Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Safari Industries (India) Ltd 7,462 Cr. 1,523 2,507/1,39144.4 2130.20 %18.7 %15.8 % 2.00
EPL Ltd 6,893 Cr. 215 254/17516.7 81.92.32 %17.5 %16.3 % 2.00
Garware Hi Tech Films Ltd 8,418 Cr. 3,624 4,800/2,31727.4 1,0790.33 %20.6 %15.0 % 10.0
VIP Industries Ltd 4,492 Cr. 316 492/248 32.60.00 %1.50 %12.1 % 2.00
AGI Greenpac Ltd 3,253 Cr. 503 1,009/4659.61 3431.39 %19.9 %16.2 % 2.00
Industry Average1,921.04 Cr295.8439.62189.000.36%12.76%24.70%7.38

All Competitor Stocks of Safari Industries (India) Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 303303427370388365450458443421528534512
Expenses 248244348307320299384410392360449460457
Operating Profit 55587963686766485061797456
OPM % 18%19%19%17%18%18%15%10%11%14%15%14%11%
Other Income 3323458776666
Interest 3232222222222
Depreciation 991312131414151515171818
Profit before tax 46506652575658384149656042
Tax % 24%23%24%23%24%23%23%22%24%24%23%22%21%
Net Profit 34385040434344303138504733
EPS in Rs 7.278.0310.548.359.028.869.116.076.377.6910.339.586.71

Last Updated: March 3, 2026, 3:00 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 25, 2026, 4:16 pm

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 1612112713444195786863287051,2121,5501,7721,995
Expenses 1541982523193775256143346491,0151,2731,5461,725
Operating Profit 7121924425372-656197278225270
OPM % 4%6%7%7%10%9%11%-2%8%16%18%13%14%
Other Income 0-1101113-29142824
Interest 633434106581099
Depreciation 13456822202033525968
Profit before tax 161216344140-2929165230186217
Tax % 78%27%35%34%36%34%24%-28%23%24%24%23%
Net Profit 04810222731-2122125176143168
EPS in Rs 0.041.061.872.454.846.096.86-4.674.9926.3936.0529.2134.31
Dividend Payout % 0%9%6%8%5%4%0%0%8%7%11%10%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)100.00%25.00%120.00%22.73%14.81%-167.74%204.76%468.18%40.80%-18.75%
Change in YoY Net Profit Growth (%)0.00%-75.00%95.00%-97.27%-7.91%-182.56%372.50%263.42%-427.38%-59.55%

Safari Industries (India) Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 10 years from 2015-2016 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:24%
5 Years:21%
3 Years:36%
TTM:18%
Compounded Profit Growth
10 Years:40%
5 Years:35%
3 Years:67%
TTM:-13%
Stock Price CAGR
10 Years:39%
5 Years:61%
3 Years:44%
1 Year:-13%
Return on Equity
10 Years:17%
5 Years:19%
3 Years:23%
Last Year:16%

Last Updated: September 5, 2025, 1:15 pm

Balance Sheet

Last Updated: December 4, 2025, 1:54 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 3444444445101010
Reserves 97287971681962262752974218149441,035
Borrowings 54335842551041144156139146125113
Other Liabilities 3520275547817177112182173238278
Total Liabilities 1021301771982753864163974697471,1431,3161,436
Fixed Assets 121224233229796796184293414433
CWIP 000100002001121
Investments 000000000014933
Other Assets 90117152174243357336330353563700887998
Total Assets 1021301771982753864163974697471,1431,3161,436

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + -3-32-1324-48-3871111165121757
Cash from Investing Activity + -9-3-15-6-13-7-21-98-4-70-345-10
Cash from Financing Activity + 123629-205945-50-10-1420164-75
Net Cash Flow -011-2-2-013-2136-27
Free Cash Flow -12-36-2919-62-4750103-273106-88
CFO/OP -35%-244%-50%120%-87%-41%117%-1,991%32%44%98%43%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-47.00-21.00-39.00-18.00-13.00-51.00-42.00-47.000.0058.00132.00100.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 7270736285897810159513950
Inventory Days 186174180172199206155223123144124138
Days Payable 12140428768765913884907079
Cash Conversion Cycle 1372042111472172191741859810593109
Working Capital Days -79075761181028813672655375
ROCE %12%12%14%20%17%16%-7%13%37%31%19%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 47.24%47.23%46.96%46.88%45.73%45.73%45.41%45.41%45.41%45.41%44.90%44.70%
FIIs 15.93%12.30%12.95%13.44%13.14%12.69%12.24%12.26%13.25%13.05%12.30%12.32%
DIIs 12.62%17.00%17.51%16.75%20.52%21.83%22.73%23.97%23.71%24.68%26.11%26.56%
Government 0.00%0.00%0.00%0.00%0.00%0.00%0.01%0.00%0.00%0.00%0.00%0.00%
Public 24.22%23.47%22.59%22.91%20.61%19.75%19.60%18.37%17.63%16.86%16.70%16.42%
No. of Shareholders 15,14824,02331,30745,25135,07832,05045,14842,21838,38736,08036,62835,017

Shareholding Pattern Chart

No. of Shareholders

Safari Industries (India) Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
ICICI Prudential Flexicap Fund 824,035 0.85 167.44802,8242026-02-23 01:09:002.64%
HSBC Midcap Fund 808,700 1.35 164.32N/AN/AN/A
Invesco India Smallcap Fund 493,507 1.11 100.28430,7282026-02-23 02:58:4614.58%
Sundaram Small Cap Fund 431,921 2.67 87.76167,5032025-12-08 07:53:01157.86%
Mirae Asset Great Consumer Fund 355,422 1.65 72.22352,5882026-02-23 02:58:460.8%
HSBC Large & Mid Cap Fund 345,992 1.53 70.3305,0002025-12-07 17:38:3113.44%
HSBC Aggressive Hybrid Fund 324,428 1.21 65.92357,5702025-12-07 14:52:17-9.27%
Invesco India Multicap Fund 296,268 1.53 60.2151,7732025-12-08 07:06:1095.2%
HSBC Small Cap Fund 238,115 0.32 48.38N/AN/AN/A
Sundaram Consumption Fund 225,560 3.14 45.83123,2462025-12-07 12:29:4583.02%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 2.002.002.002.002.00
Basic EPS (Rs.) 29.2436.9052.769.99-9.34
Diluted EPS (Rs.) 29.1636.7352.559.54-9.34
Cash EPS (Rs.) 41.2846.6966.8018.87-0.21
Book Value[Excl.RevalReserv]/Share (Rs.) 194.99168.92179.54104.0494.23
Book Value[Incl.RevalReserv]/Share (Rs.) 194.99168.92179.54104.0494.23
Revenue From Operations / Share (Rs.) 362.29318.03511.14315.18146.51
PBDIT / Share (Rs.) 51.8359.7887.0128.23-1.17
PBIT / Share (Rs.) 39.7649.1572.9719.35-10.30
PBT / Share (Rs.) 37.9547.2069.6113.00-12.88
Net Profit / Share (Rs.) 29.2036.0652.759.99-9.33
NP After MI And SOA / Share (Rs.) 29.2036.0652.759.99-9.33
PBDIT Margin (%) 14.3018.7917.028.95-0.80
PBIT Margin (%) 10.9715.4514.276.13-7.02
PBT Margin (%) 10.4714.8413.614.12-8.79
Net Profit Margin (%) 8.0611.3310.323.16-6.37
NP After MI And SOA Margin (%) 8.0611.3310.323.16-6.37
Return on Networth / Equity (%) 14.9721.3429.389.60-9.90
Return on Capital Employeed (%) 18.6326.2434.3113.05-7.58
Return On Assets (%) 10.8215.3616.724.77-5.26
Long Term Debt / Equity (X) 0.010.010.050.000.01
Total Debt / Equity (X) 0.020.050.140.040.02
Asset Turnover Ratio (%) 1.441.641.991.630.80
Current Ratio (X) 3.153.562.232.453.01
Quick Ratio (X) 1.882.401.141.381.78
Inventory Turnover Ratio (X) 5.721.721.691.380.41
Dividend Payout Ratio (NP) (%) 10.256.084.270.000.00
Dividend Payout Ratio (CP) (%) 7.254.693.370.000.00
Earning Retention Ratio (%) 89.7593.9295.730.000.00
Cash Earning Retention Ratio (%) 92.7595.3196.630.000.00
Interest Coverage Ratio (X) 28.6730.6725.8912.84-0.45
Interest Coverage Ratio (Post Tax) (X) 17.1519.5116.707.43-2.61
Enterprise Value (Cr.) 9464.508236.984830.092120.201355.33
EV / Net Operating Revenue (X) 5.345.313.993.004.13
EV / EBITDA (X) 37.3428.2723.4133.54-515.88
MarketCap / Net Operating Revenue (X) 5.465.434.013.074.13
Retention Ratios (%) 89.7493.9195.720.000.00
Price / BV (X) 10.1410.2211.419.316.42
Price / Net Operating Revenue (X) 5.465.434.013.074.13
EarningsYield 0.010.020.020.01-0.01

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Safari Industries (India) Ltd. is a Public Limited Listed company incorporated on 08/07/1980 and has its registered office in the State of Maharashtra, India. Company's Corporate Identification Number(CIN) is L25200MH1980PLC022812 and registration number is 022812. Currently Company is involved in the business activities of Manufacture of travel goods of plastics (suitcase, vanity bags, holdalls and similar articles). Company's Total Operating Revenue is Rs. 1769.66 Cr. and Equity Capital is Rs. 9.78 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Packaging & Containers302-303, A Wing, The Qube, Mumbai Maharashtra 400059Contact not found
Management
NamePosition Held
Mr. Sudhir JatiaChairman & Managing Director
Mrs. Vijaya SampathDirector
Mr. Rahul KanodiaDirector
Mr. Piyush GoenkaDirector
Mr. Sumeet NagarDirector
Mr. Sridhar BalakrishnanDirector
Mr. Aseem DhruDirector
Mr. Sanjiv KakkarDirector

FAQ

What is the intrinsic value of Safari Industries (India) Ltd and is it undervalued?

As of 12 April 2026, Safari Industries (India) Ltd's intrinsic value is ₹778.94, which is 48.85% lower than the current market price of ₹1,523.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (15.8 %), book value (₹213), dividend yield (0.20 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Safari Industries (India) Ltd?

Safari Industries (India) Ltd is trading at ₹1,523.00 as of 12 April 2026, with a FY2026-2027 high of ₹2,507 and low of ₹1,391. The stock is currently near its 52-week low. Market cap stands at ₹7,462 Cr..

How does Safari Industries (India) Ltd's P/E ratio compare to its industry?

Safari Industries (India) Ltd has a P/E ratio of 44.4, which is above the industry average of 39.62. The premium over industry average may reflect growth expectations or speculative interest.

Is Safari Industries (India) Ltd financially healthy?

Key indicators for Safari Industries (India) Ltd: ROCE of 18.7 % indicates efficient capital utilization; ROE of 15.8 % shows strong shareholder returns. Dividend yield is 0.20 %.

Is Safari Industries (India) Ltd profitable and how is the profit trend?

Safari Industries (India) Ltd reported a net profit of ₹143 Cr in Mar 2025 on revenue of ₹1,772 Cr. Compared to ₹22 Cr in Mar 2022, the net profit shows an improving trend.

Does Safari Industries (India) Ltd pay dividends?

Safari Industries (India) Ltd has a dividend yield of 0.20 % at the current price of ₹1,523.00. The company pays dividends, though the yield is modest.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Safari Industries (India) Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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