Safari Industries (India) Ltd Latest Updates

Q3 FY26 Financial Performance In its latest quarterly report (ended December 31, 2025), Safari reported a 15.7% year-on-year revenue growth reaching ₹512.37 crore. While sales volumes surged by approximately 20%, consolidated net profit grew more modestly by 5.6% to ₹32.89 crore. The company faced significant margin pressure during the quarter, with EBITDA margins contracting to 10.9% due to heightened competition, increased discounting, and higher employee costs related to new labor code implementations. Major Brand Licensing Deal On February 18, 2026, Safari announced a major strategic move by signing a 20-year licensing agreement with Carlton Retail. Under this deal, Safari has secured the rights to use the "Carlton" brand for luggage and related products in India. The agreement includes a refundable security deposit of ₹99.50 crore and an annual license fee of either ₹45 lakh or 5% of net sales, whichever is higher. Production and Capacity Updates Safari's new manufacturing facility in Jaipur is now a key driver of operational efficiency, operating at 85-90% utilization during Q3 FY26. The plant's backward integration—specifically the in-house manufacturing of wheels and trolleys—has helped offset some raw material cost pressures. The company continues to shift its product mix toward hard luggage, which now accounts for roughly 75% of sales. Leadership and Management The company has initiated the process for the re-appointment of Mr. Sudhir Jatia as Chairman and Managing Director for a further five-year term, effective from April 18, 2026. In other management news, Mr. Rameez Shaikh resigned as Company Secretary effective April 17, 2026, and the company has recently made new appointments in its senior management team to bolster its growth strategy.