Safari Industries (India) Ltd. Latest Updates

Corporate Strategy & Fundraising On March 18, 2026, shareholders officially approved a massive fundraising initiative of up to ₹500 crore through a Qualified Institutions Placement (QIP). These funds are earmarked for future growth, including potential capital expenditure for FY28 and strategic acquisitions of profitable global brands with in-house manufacturing capabilities. Leadership & Brand Licensing The company has secured continuity in leadership with the re-appointment of Sudhir Jatia as Managing Director for a five-year term, effective from April 18, 2026, through April 2031. Additionally, Safari recently entered into a significant 20-year brand licensing agreement with Carlton Retail to utilize the "CARLTON" brand name for its luggage and travel products in India, aiming to strengthen its presence in the premium lifestyle segment. Financial Performance (Q3 FY26) In its latest quarterly report (ended December 2025), Safari reported a 15.7% year-on-year revenue growth, reaching ₹512.37 crore, driven by a robust 20% surge in sales volumes. However, net profit grew only 5.6% to ₹32.89 crore as margins faced pressure from aggressive price competition and higher marketing spends. On a sequential (QoQ) basis, net profit saw a sharp decline of nearly 30% compared to the previous quarter. Product & Operational Milestones New Launches: In March 2026, Safari introduced several new products, including the Safari Trackr (a GPS-enabled trolley bag in collaboration with BoAt) and the Safari Select Aerolite cabin bags. Manufacturing: The new Jaipur plant is now operating at high utilization (85-90%), contributing significantly to the recent volume growth. Market Position: Despite the recent stock price correction, Safari remains a dominant mid-cap player in the Indian luggage market, which is projected to grow at a 12% CAGR through 2028.