Mumbai, February 4, 2025 – Safari Industries (India) Ltd. (NSE: SAFARI, BSE: 523025), a leading player in the luggage industry, announced its unaudited financial results for the quarter and nine months ended December 31, 2024, along with the appointment of a new Secretarial Auditor.
Financial Highlights (Standalone & Consolidated)
Revenue & Profit Performance
| Particulars | Standalone (₹ Crores) | Consolidated (₹ Crores) |
|---|---|---|
| Revenue from Operations | ₹442.33 Cr (YoY +14%) | ₹442.71 Cr |
| Total Income | ₹452.40 Cr | ₹449.88 Cr |
| EBITDA | Not separately disclosed | Not separately disclosed |
| Profit Before Tax (PBT) | ₹32.87 Cr | ₹40.79 Cr |
| Profit After Tax (PAT) | ₹25.52 Cr (YoY -28%) | ₹31.14 Cr |
| Earnings Per Share (EPS) - Basic | ₹5.22 | ₹6.37 |
- Revenue Growth: Revenue from operations grew 14% YoY, reaching ₹442.33 Cr on a standalone basis and ₹442.71 Cr on a consolidated basis.
- Profit Decline: Despite the revenue increase, PAT saw a 28% YoY decline, impacted by rising material costs and employee expenses.
- Tax Expenses: Total tax outgo stood at ₹7.35 Cr (Standalone) and ₹9.65 Cr (Consolidated).
Segment-Wise Performance
- Luggage Business: The company operates as a single-segment entity, making luggage its primary revenue driver.
- Stock Movements: Inventory adjustments led to higher stock-in-trade purchases (₹252.90 Cr) but a reduction in finished goods stock levels.
Strategic & Corporate Announcements
Appointment of Secretarial Auditor
- Firm: M/s. Dilip Bharadiya & Associates
- Term: FY 2024-25
- Scope: Secretarial audit, mergers, restructuring, compliance with regulatory authorities.
Employee Stock Options
- 4,200 equity shares allotted under the Safari Employee Stock Option Scheme (2016).
- 99,581 shares issued under Stock Appreciation Rights Scheme (2022).
Management Commentary
Sudhir Jatia, Chairman & Managing Director, commented:Outlook & Investor Takeaways
- Growth Prospects: The luggage industry is expected to benefit from higher travel demand, positioning Safari for continued expansion.
- Margin Pressures: Increased raw material costs and employee expenses could impact profitability in the near term.
- Stock Performance: Investors may monitor cost management initiatives and the impact of price adjustments on future earnings.
For more details, visit www.safaribags.com.