The Company has fixed Tuesday, 12th December 2023 as the record date for determining entitlement of Members for issue and allotment of Bonus Equity Shares in the proportion of 1:1.
For example, an investor receives one new fully paid-up equity share of Rs. 2/- for every existing fully paid-up equity share of Rs. 2/- that they own.
According to the Safari Industries (India) Ltd report, the net revenue increased by 18 percent year over year, from Rs 313.58 crore in Q2FY23 to Rs 370.02 crore in Q2FY24. Their revenue fell by 13 percent sequentially from Rs 426 crore in Q1FY24 to the current levels.
In addition, the company’s net profit rose by 53 percent year over year, from Rs 25.94 crores in Q2FY23 to Rs 39.76 crores in Q2FY24. Their profit decreased by 20 percent on a quarterly basis from Rs 49.94 crore in Q1FY24 to the current levels.
The company’s promoters hold a 47 percent stake in the company, with 13 percent owned by foreign institutional investors, 22.5 percent owned by the general public, and 17.5 percent owned by domestic institutional investors.
Mr.Ashish Kacholia, a well-known investor, owns 5,43,000 equity shares in Safari Industries (India), accounting for a 2.29 percent stake in the company.
Safari Industries (India) Ltd is a small-cap company with a market capitalization of 10,290 a return on equity (ROE) of 34 percent and a return on capital employed (ROCE) of 43 percent.
Furthermore, the company’s debt-to-equity ratio of 0.14 is low, and its net profit margin is 9.7 percent, higher than the previous three years.
Safari Industries Limited share price rose 2 percent from its intraday high of Rs 4,487.95 from its previous close of Rs 4390.45.
In addition, the company’s share price has increased by 165 percent year to date and by about 60 percent in the last six months. For example, if an investor invested Rs 1 lakh in the previous year, the current value is Rs 2.65 lakhs.
Safari Industries is a manufacturer and trader of luggage and luggage accessories. Safari manufactures hard luggage in-house at its plant in Halol, Gujarat, using PolyPropylene (PP) and Polycarbonate (PC). Soft luggage is primarily imported and made of various fabrics.
Written by Sriram KV
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