 "Safari Industries rises 3% as arm begins manufacturing at Jaipur facility")
Safari Industries share price: Luggage manufacturer Safari Industries were buzzing in trade on Tuesday, December 3, 2024, as the scrip rose up to 3.01 per cent to hit an intraday high of Rs 2,675 per share.
The rise in Safari Industries shares came after the company said that its wholly-owned subsidiary, Safari Manufacturing Limited, has successfully commenced its commercial production/manufacturing of luggage on December 2, 2024 at its newly set up greenfield manufacturing facility at Jaipur, Rajasthan.
In an exchange filing, Safari Industries, said, “This is to inform that Safari Manufacturing Limited, the wholly-owned subsidiary of the Company, after completion of trial-runs, has successfully commenced its commercial production/manufacturing of luggage on December 2, 2024 at its newly set up greenfield manufacturing facility at Jaipur, Rajasthan.”
Safari Industries Q2 results
Safari Industries posted a 25.4 per cent drop in consolidated net profit to Rs 29.7 crore in Q2FY25, as against Rs 39.8 crore in Q2FY24. The revenue from operations, however, surged 23.7 per cent year-on-year (Y-o-Y) to Rs 457.8 crore in Q2FY25.
Its profit before tax stood at Rs 37.8 crore during the second quarter of FY25, down over 27 per cent annually to Rs 51.9 crore in Q2FY24.
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The company’s board also declared an interim dividend of Rs 1.50 per share for FY25. The interim dividend, meanwhile, will be paid on or before December 6, 2024.
About Safari Industries
Safari Industries is a leading manufacturer and seller of luggage and accessories in India. The company offers a diverse range of products, including hard and soft luggage, lightweight options, TSA-approved designs, as well as casual and laptop backpacks, rucksacks, and more.
Operating under well-known brands such as Safari, MAGNUM, GENiUS, and Genie, Safari Industries caters to a wide array of travel and daily use needs.
Founded in 1974 as a partnership firm, the company transitioned to a private limited entity in 1980 and became a public limited company in 1986.
Safari Industries produces hard luggage at its in-house manufacturing facility in Halol, Gujarat, while its soft luggage is primarily imported. With a robust multi-channel distribution network spanning over 9,300 customer touchpoints, the company reaches consumers through retail outlets, e-commerce platforms, and institutional sales channels.
The market capitalisation of Safari Industries is Rs 12,850.66 crore, according to BSE. The company falls under the BSE SmallCap category.
The 52-week high of Safari Industries is Rs 2,712.05 per share, while its 52-week low is Rs 1,627.40 apiece.
At 10:42 AM, Safari Industries shares were trading 1.23 per cent higher at Rs 2,628.70 per share. In comparison, BSE Sensex was trading 0.59 per cent higher at 80,719.98 levels.