Sa­fari In­dus­tries (In­dia) Ltd

(BSE Code: 523025) (CMP: Rs.741.85) (FV: Rs.2) By Pratit Nayan Pa­tel

Money Times - - Bull’s Eye -

We had rec­om­mended this stock at Rs.536.65 on 19 Fe­bru­ary 2018 and once again at Rs.867.8 on 20 Au­gust 2018, where­after it zoomed to Rs.1005! The stock has fallen sharply in line with the re­cent mar­ket crash but its fun­da­men­tals re­main in­tact. There­fore, we rec­om­mend this stock once again based on its strong H1FY19 num­bers.

Com­pany Back­ground: In­cor­po­rated in 1980, Mum­bai-based Sa­fari In­dus­tries (In­dia) Ltd (Sa­fari) man­u­fac­tures and trades in lug­gage and lug­gage ac­ces­sories. Its prod­ucts in­clude wheel up­right trol­leys, duf­fles and rolling duf­fles; busi­ness cases, lap­top satchels and tablet sleeves; ca­sual and for­mal back­packs and back­pack trol­leys as well as travel es­sen­tials and fold­ables. It op­er­ates through re­tail stores and also through an e-com­merce chan­nel. It man­u­fac­tures hard lug­gage mainly made of Poly Propy­lene (PP) and Poly Car­bon­ate (PC) at its plant in Halol, Gu­jarat. It mainly im­ports soft lug­gage, which are made of var­i­ous fab­rics.

Fi­nan­cials: Sa­fari has an eq­uity cap­i­tal of just Rs.4.46 crore sup­ported by huge re­serves of Rs.168.39 crore. The pro­mot­ers hold 57.69% of the eq­uity cap­i­tal, Mal­abar In­dia Fund holds 8.53%, Mal­abar Value Fund holds 1.8% and Tano In­dia Pvt Eq­uity Fund 2 holds 12.18%, which leaves 19.8% stake with the in­vest­ing pub­lic.

Per­for­mance Re­view: For FY18, Sa­fari re­ported 118% higher PAT of Rs.21.21 crore on 17% higher sales of Rs.415.36 crore

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.