Financial Performance

Safari Industries (India) Limited reported strong financial results for FY2025-26 with consolidated revenue growing 16% to ₹2,047.02 Crores (from ₹1,771.58 Crores in FY25) and profit after tax increasing 17% to ₹167.76 Crores. Standalone performance showed revenue of ₹2,079.78 Crores (+15% YoY) and PAT of ₹124.78 Crores (+6% YoY). The company maintained a robust balance sheet with zero debt, cash balances of ₹270 Crores, and total assets of ₹1,114.67 Crores.

Dividend Declaration & Corporate Actions

The Board recommended a final dividend of ₹2 per share (100%), complementing the interim dividend of ₹2 per share already paid, resulting in a total dividend of ₹4 per share (200%) for FY26 amounting to ₹19.60 Crores. The record date for the final dividend is set for 17th July 2026. The 46th Annual General Meeting will be held on 4th August 2026 through video conference to approve the financial statements and dividend declaration.

Management & Governance Changes

Significant management changes occurred during FY26, including the resignation of Director Rahul Kanodia and CFO Vineet Poddar. Mr. Sudhir Jatia was re-appointed as Managing Director for five years until April 2031. Mr. Abhijaat Sinha was appointed as Company Secretary & Legal Head in June 2026. The company also transitioned its Registrar and Transfer Agent to MUFG Intime India Private Limited effective April 2026.

Subsidiary Performance & Investments

Safari Manufacturing Limited, the material wholly-owned subsidiary, delivered exceptional performance with revenue growth of 45% to ₹702.48 Crores and PAT growth of 58% to ₹44.51 Crores. The parent company invested an additional ₹25 Crores in preference shares, bringing total investment to ₹205.72 Crores. Safari Lifestyles Limited continued to report minor losses of ₹0.38 Crores.

ESG & Operational Initiatives

The company strengthened its ESG commitments with 14% renewable energy usage (up from 8%), 100% waste recycling, and GHG emission reduction of 2,267 tCO2e through solar initiatives. Manufacturing capacity expanded with 4.25 MW solar capacity across plants. The company maintained IGBC Green Building certification and ISO 9001:2015 certification while increasing women representation in workforce by 33%.

Regulatory Compliance & Auditing

Auditors Walker Chandiok & Co LLP issued an unmodified opinion but noted the audit trail feature was not enabled at the database level for accounting software, though it was operated throughout the year. The company maintained CRISIL AA-/Stable rating with total bank facilities of ₹150 Crores. Minor GST disputes totaling ₹2.40 Crores remained outstanding without material regulatory non-compliance.

Share-Based Payments & Employee Benefits

The SAR 2022 scheme saw significant activity with 3,69,600 new options granted at weighted average exercise price of ₹1,699.50, while all outstanding ESOP 2016 options were exercised. Defined benefit obligation sensitivity analysis showed significant exposure to discount rate and salary escalation assumptions, with expected gratuity contributions of ₹4.11 Crores for next year.

Market Position & Outlook

Safari Industries maintained its position as India's No. 1 luggage brand by revenue for the third successive year according to Euromonitor International. The company continues its premiumization strategy through brands like Urban Jungle and Safari Select, with focus on hard luggage manufacturing and in-house component production. Distribution network expanded to over 8,500 customer touchpoints nationwide across 36 states/UTs and 14 international countries.