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Last Updated on: 19 June, 2024|Author: Getaka | Social: X Twitter Profile

Fundamental Analysis of Safari Industries (India) Ltd

Basic Stock Data

Last Updated: June 17, 2024, 8:15 pm

Market Cap 10,169 Cr.
Current Price 2,085
High / Low2,315/1,371
Stock P/E57.8
Book Value 169
Dividend Yield0.13 %
ROCE31.2 %
ROE28.2 %
Face Value 2.00
PEG Ratio1.47

Competitors of Safari Industries (India) Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Worth Peripherals Ltd 177 Cr. 112137/92.511.2 1010.88 %13.8 %10.5 % 10.0
Polyplex Corporation Ltd 2,746 Cr. 8751,394/75272.6 1,1182.63 %1.80 %1.08 % 10.0
Radha Madhav Corporation Ltd 18.3 Cr. 2.002.50/1.207.05 0.160.00 %17.8 %1,786 % 10.0
Cropster Agro Ltd 1,064 Cr. 426944/13096.0 23.60.00 %37.6 %37.9 % 10.0
SMVD Poly Pack Ltd 13.4 Cr. 13.416.6/7.60 30.40.00 %7.64 %24.3 % 10.0
Industry Average1,287.47 Cr251.3628.16188.450.57%11.85%79.98%7.30

Quarterly Result

MonthMar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
Sales133120189204193293314303303427370388365
Expenses120113171191176251272248244348307320299
Operating Profit1371813174242555879636867
OPM %10%6%10%6%9%14%13%18%19%19%17%18%18%
Other Income0222-723332345
Interest1111112323222
Depreciation54556789913121314
Profit before tax8314933535465066525756
Tax %26%28%24%24%10%25%25%24%23%24%23%24%23%
Net Profit6211722726343850404343
EPS in Rs1.390.552.371.540.545.945.477.278.0310.548.359.028.86

Last Updated: June 9, 2024, 10:23 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: May 27, 2024, 6:01 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Sales1612112713444195786863287051,2121,550
Expenses1541982523193775256143346491,0151,273
Operating Profit7121924425372-656197278
OPM %4%6%7%7%10%9%11%-2%8%16%18%
Other Income0-1101113-2914
Interest6334341065810
Depreciation1345682220203352
Profit before tax161216344140-2929165230
Tax %78%27%35%34%36%34%24%28%23%24%24%
Net Profit04810222731-2122125176
EPS in Rs0.041.061.872.454.846.096.86-4.674.9926.3936.05
Dividend Payout %0%9%6%8%5%4%0%0%8%7%11%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-2024
YoY Net Profit Growth (%)100.00%25.00%120.00%22.73%14.81%-167.74%204.76%468.18%40.80%
Change in YoY Net Profit Growth (%)0.00%-75.00%95.00%-97.27%-7.91%-182.56%372.50%263.42%-427.38%

Growth

Compounded Sales Growth
10 Years:25%
5 Years:22%
3 Years:68%
TTM:28%
Compounded Profit Growth
10 Years:98%
5 Years:45%
3 Years:120%
TTM:41%
Stock Price CAGR
10 Years:43%
5 Years:43%
3 Years:80%
1 Year:43%
Return on Equity
10 Years:18%
5 Years:20%
3 Years:26%
Last Year:28%

Last Updated: May 31, 2024, 7:02 am

Safari Industries (India) Ltd Balance Sheet

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital34444444455
Reserves9708797168196226275297421509
Borrowings54335842551041144156139131
Other Liabilities3523275547817177112182220
Total Liabilities102130177198275386416397469747865
Fixed Assets121224233229796796184209
CWIP0001000020011
Investments00000000000
Other Assets90117152174243357336330353563645
Total Assets102130177198275386416397469747865

Reserves and Borrowings Chart

Safari Industries (India) Ltd Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity -3-32-1324-48-38711111651
Cash from Investing Activity -9-3-15-6-13-7-21-98-4-70
Cash from Financing Activity 123629-205945-50-10-1420
Net Cash Flow-011-2-2-013-21

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Free Cash Flow-47.00-21.00-39.00-18.00-13.00-51.00-42.00-47.000.0058.00132.00

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 2023
Debtor Days727073628589781015951
Inventory Days186174180172199206155223123144
Days Payable1214042876876591388490
Cash Conversion Cycle13720421114721721917418598105
Working Capital Days1021471491161631671341548583
ROCE %12%12%14%20%17%16%-7%13%37%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthJun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
Promoters50.36%49.90%49.89%50.02%50.01%47.24%47.24%47.24%47.23%46.96%46.88%45.73%
FIIs16.24%17.30%16.28%16.21%15.77%15.14%15.53%15.93%12.30%12.95%13.44%13.14%
DIIs5.54%5.18%6.14%5.88%6.74%12.21%12.01%12.62%17.00%17.51%16.75%20.52%
Public27.86%27.63%27.69%27.89%27.48%25.43%25.23%24.22%23.47%22.59%22.91%20.61%
No. of Shareholders12,17614,01114,56714,34613,74115,58114,58315,14824,02331,30745,25135,078

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
DSP Small Cap Fund600,0002.03265.67151,7732024-06-17295.33%
Sundaram Small Cap Fund167,5032.5874.17151,7732024-06-1710.36%
Invesco India Smallcap Fund167,0832.2773.98151,7732024-06-1710.09%
HSBC Aggressive Hybrid Fund357,5701.3569.77151,7732024-06-17135.6%
Invesco India Multicap Fund151,7732.3267.2151,7732024-06-170%
HSBC Large & Mid Cap Fund305,0002.359.52151,7732024-06-17100.96%
Sundaram Consumption Fund123,2464.0554.57151,7732024-06-17-18.8%
Invesco India Growth Opportunities Fund118,8431.252.62151,7732024-06-17-21.7%
Invesco India ELSS Tax Saver Fund89,2401.6939.51151,7732024-06-17-41.2%
Mahindra Manulife Multi Cap Fund176,6691.2934.47151,7732024-06-1716.4%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 24Mar 23Mar 22Mar 21Mar 20
FaceValue2.002.002.002.002.00
Basic EPS (Rs.)36.9052.769.99-9.3413.72
Diluted EPS (Rs.)36.7352.559.54-9.3413.71
Cash EPS (Rs.)46.6966.8018.87-0.2123.76
Book Value[Excl.RevalReserv]/Share (Rs.)168.92179.54104.0494.23103.12
Book Value[Incl.RevalReserv]/Share (Rs.)168.92179.54104.0494.23103.12
Revenue From Operations / Share (Rs.)318.03511.14315.18146.51306.68
PBDIT / Share (Rs.)59.7887.0128.23-1.1732.60
PBIT / Share (Rs.)49.1572.9719.35-10.3022.55
PBT / Share (Rs.)47.2069.6113.00-12.8817.98
Net Profit / Share (Rs.)36.0652.759.99-9.3313.71
NP After MI And SOA / Share (Rs.)36.0652.759.99-9.3313.71
PBDIT Margin (%)18.7917.028.95-0.8010.62
PBIT Margin (%)15.4514.276.13-7.027.35
PBT Margin (%)14.8413.614.12-8.795.86
Net Profit Margin (%)11.3310.323.16-6.374.47
NP After MI And SOA Margin (%)11.3310.323.16-6.374.47
Return on Networth / Equity (%)21.3429.389.60-9.9013.29
Return on Capital Employeed (%)26.2434.3113.05-7.5819.62
Return On Assets (%)15.3616.724.77-5.267.37
Long Term Debt / Equity (X)0.010.050.000.010.00
Total Debt / Equity (X)0.050.140.040.020.32
Asset Turnover Ratio (%)1.641.991.630.801.70
Current Ratio (X)3.562.232.453.012.05
Quick Ratio (X)2.401.141.381.781.04
Inventory Turnover Ratio (X)1.721.691.380.410.57
Dividend Payout Ratio (NP) (%)0.004.270.000.000.00
Dividend Payout Ratio (CP) (%)0.003.370.000.000.00
Earning Retention Ratio (%)0.0095.730.000.000.00
Cash Earning Retention Ratio (%)0.0096.630.000.000.00
Interest Coverage Ratio (X)30.6725.8912.84-0.457.14
Interest Coverage Ratio (Post Tax) (X)19.5116.707.43-2.614.00
Enterprise Value (Cr.)8236.984830.092120.201355.33970.48
EV / Net Operating Revenue (X)5.313.993.004.131.41
EV / EBITDA (X)28.2723.4133.54-515.8813.31
MarketCap / Net Operating Revenue (X)5.434.013.074.131.31
Retention Ratios (%)0.0095.720.000.000.00
Price / BV (X)10.2211.419.316.423.89
Price / Net Operating Revenue (X)5.434.013.074.131.31
EarningsYield0.020.020.01-0.010.03

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value: 2,758.21

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

Undervalued: 32.29% compared to the current price 2085

Intrinsic Value: 3,843.65

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
  • EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators along with EPS growth.

Undervalued: 84.35% compared to the current price ₹2085

Last 5 Year EPS CAGR: 39.35%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The company has higher reserves (241.82 cr) compared to borrowings (76.55 cr), indicating strong financial stability.
  2. The company has shown consistent growth in sales (336.82 cr) and profit (49.55 cr) over the years.
  1. The stock has a low average ROCE of 13.40%, which may not be favorable.
  2. The stock has a high average Working Capital Days of 130.00, which may not be favorable.
  3. The stock has a high average Cash Conversion Cycle of 169.70, which may not be favorable.

Stock Analysis

  • Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in Safari Industries (India) Ltd:
    1. Net Profit Margin: 11.33%
      • Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
    2. ROCE: 26.24% (Industry Average ROCE: %)
      • ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
    3. ROE%: 21.34% (Industry Average ROE: %)
      • ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
    4. Interest Coverage Ratio (Post Tax): 19.51
      • Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
    5. Quick Ratio: 2.40
      • Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
    6. ✗ Stock P/E: 57.8 (Industry average Stock P/E: )
      • Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
    7. Total Debt / Equity: 0.05
      • Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
    The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
    Stock Rating:

About the Company

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 like suitcase, bags, holdalls etc.. Company’s Total Operating Revenue is Rs. 705.44 Cr. and Equity Capital is Rs. 4.48 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Packaging & Containers302-303, A Wing, The Qube, Mumbai Maharashtra 400059investor@safari.in
http://www.safaribags.com
Management
NamePosition Held
Mr. Sudhir JatiaChairman & Managing Director
Mr. Punkajj LathDirector
Mr. Dalip SehgalDirector
Mrs. Vijaya SampathDirector
Mr. Rahul KanodiaDirector
Mr. Piyush GoenkaDirector
Mr. Sumeet NagarDirector
Mr. Gaurav SharmaDirector

FAQ

What is the latest fair value of Safari Industries (India) Ltd?

The latest fair value of Safari Industries (India) Ltd is ₹2758.21.

What is the Market Cap of Safari Industries (India) Ltd?

The Market Cap of Safari Industries (India) Ltd is 10,169 Cr..

What is the current Stock Price of Safari Industries (India) Ltd as on 19 June 2024?

The current stock price of Safari Industries (India) Ltd as on 19 June 2024 is ₹2,085.

What is the High / Low of Safari Industries (India) Ltd stocks in FY 2024?

In FY 2024, the High / Low of Safari Industries (India) Ltd stocks is 2,315/1,371.

What is the Stock P/E of Safari Industries (India) Ltd?

The Stock P/E of Safari Industries (India) Ltd is 57.8.

What is the Book Value of Safari Industries (India) Ltd?

The Book Value of Safari Industries (India) Ltd is 169.

What is the Dividend Yield of Safari Industries (India) Ltd?

The Dividend Yield of Safari Industries (India) Ltd is 0.13 %.

What is the ROCE of Safari Industries (India) Ltd?

The ROCE of Safari Industries (India) Ltd is 31.2 %.

What is the ROE of Safari Industries (India) Ltd?

The ROE of Safari Industries (India) Ltd is 28.2 %.

What is the Face Value of Safari Industries (India) Ltd?

The Face Value of Safari Industries (India) Ltd is 2.00.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

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