AI Summary
✦ ClarthaSafari Industries is an Indian consumer-products company making luggage, backpacks, and travel accessories. Hard and soft trolley bags drive its luggage franchise, while school, laptop, office, and adventure backpacks broaden growth. Messenger, duffle, sling bags, and neck pillows add accessory revenue. Safari Select, Urban Jungle, and Carlton reach consumers through e-commerce, q-commerce, hypermarkets, multi-brand outlets, exclusive stores, and direct channels. Recent earnings reportedly exceeded analyst estimates, supporting 15.4% revenue growth and 17.5% profit growth. Improving margins indicate better operating leverage, but reported debt-to-equity of 10.46 implies substantial leverage that can amplify ROE and financial risk. Without an ROE figure, shareholder returns cannot be assessed directly. At 44.2 times earnings, the stock appears rich versus typical consumer-discretionary valuations and requires sustained growth to justify its premium. The key open question is whether margin gains can continue while Safari expands distribution and manages leverage.
Price Forecast
Probabilistic Range
Probabilistic lognormal cone using 1Y realized volatility and analyst-target drift when available.
Revenue Forecast
₹ CrEPS Forecast
₹ / shareMulti-factor synthesis of 5 key dimensions
From 10 analysts
Fundamentals
Fundamentals institutional score is 26 using growth durability 26.2.
Valuation
Valuation institutional score is 70 using relative multiple z-scores where peer dispersion is available.
Analyst Consensus
Analyst View institutional score is 85 using mean target upside 47.5%; dispersion penalty 14.6; recommendation breadth from available consensus.
Technical Structure
Technicals institutional score is 34 using EMA-20 continuation within 5% tolerance; VCP range/volume contraction proxy.
Market Sentiment
Recent news flow is balanced or not decisive enough to tilt the tape. Based on 10 recent ticker-linked news items.
Signal Summary
Market intelligence remains Mixed. valuation and analyst consensus provide support, while fundamentals and technical structure remain considerations.
Composite weights: Fundamentals 25%, Valuation 20%, Analyst Consensus 20%, Technical Structure 20%, Market Sentiment 15%.
Key Data Points
Important Note: This is market intelligence, not investment advice. Always conduct your own research and consider your financial goals and risk tolerance.
Valuation Metrics
Trading 28.6% below historical median. Valuation is declining — currently in the strongly undervalued zone (z-score: -1.97). Confidence: 86%.
Live forward EPS implies next-12-month EPS of ₹50.51. Applying the stock's normalized valuation corridor produces a fair range of ₹2,874.52 to ₹3,327.09, with base value near ₹3,130.61 (+108.2% vs current price).
Live forward estimate anchored to the company's historical valuation corridor.
Forward EPS
₹50.51
Forward P/E
29.8x
Base Fair Value
₹3,130.61
Fair Range
₹2,874.52 - ₹3,327.09
Upside To Base
+108.2%
Estimate Source
Live forward EPS
Growth Estimate
-5.5%
5Y Average
45.91
Current
44.24
Overvalued
65.87
Undervalued
56.91
5Y Average
30.82
Current
30.04
Overvalued
42.18
Undervalued
17.43
5Y Average
3.59
Current
3.50
Overvalued
4.91
Undervalued
2.03
Peers & Comparison
Sector: Consumer Discretionary · Theme: Apparel & Accessories
| Company | Rev. Growth | Margin | P/E | vs Avg | 52W Perf. |
|---|---|---|---|---|---|
ARVIND LIMITED ARVINDApparel & Accessories | +15.0% | 4.4% | 34.8x Fair | -13% vs avg | +89.3% |
CAMPUS ACTIVEWEAR LIMITED CAMPUSApparel & Accessories | +12.2% | 8.5% | 45.2x Fair | +13% vs avg | -13.5% |
SAFARI IND (INDIA) LTD trades in line with peers (44.8x vs avg 40.0x), reflecting a fair valuation within the Apparel & Accessories cohort. Peers include ARVIND LIMITED, CAMPUS ACTIVEWEAR LIMITED — selected based on business model, industry classification, market cap similarity, and business theme alignment.
Financials
Real statement data for revenue, earnings quality, conversion, and balance-sheet coverage. Monetary values are shown in Rs crore.
Latest revenue
₹512 CrDec 2025Latest net profit
₹18 CrDec 2025Latest EPS
₹3.56Dec 2025Net margin
2.8%Dec 2025Performance
Bars show revenue and net profit. The line shows net margin.
- Revenue
- Net income
- Net margin %
Earnings
Revenue is shown in crores. EPS is rupees per share.
- Revenue
- EPS
Revenue to profit conversion
Bridge from operating numbers to profit for the latest reported period.
Latest reported period: Dec 2025
Debt level and coverage
Debt, cash and free cash flow compared on the same crore scale.
- Debt
- Free cash flow
- Cash & equivalents
Results
| Metric | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 302 | 426 | 370 | 388 | 365 | 449 | 457 | 442 | 421 | 527 | 533 | 512 |
| Expenses | 250 | 355 | 316 | 332 | 308 | 398 | 425 | 406 | 373 | 471 | 486 | 486 |
| Operating Profit | 44.12 | 60.1 | 43.43 | 45.56 | 45.88 | 39.42 | 20.17 | 24.59 | 36.87 | 45.11 | 35.38 | 14.34 |
| OPM % | 14.6% | 14.1% | 11.75% | 11.74% | 12.57% | 8.77% | 4.41% | 5.56% | 8.77% | 8.55% | 6.64% | 2.8% |
| Other Income | 3.07 | 2.67 | 3.28 | 3.89 | 6.42 | 10.11 | 9.58 | 10.07 | 8.89 | 8.69 | 8.85 | 9.6 |
| Interest | 1.52 | 2 | 1.62 | 2.09 | 1.74 | 1.83 | 1.93 | 1.79 | 1.87 | 1.84 | 1.8 | 2.08 |
| Depreciation | 7.51 | 11.18 | 10.26 | 10.68 | 10.98 | 11.68 | 11.94 | 11.45 | 10.73 | 11.5 | 11.05 | 10.99 |
| Profit before tax | 45.67 | 60.77 | 45.09 | 47.36 | 50.56 | 47.7 | 27.82 | 32.87 | 43.89 | 51.96 | 42.43 | 21.86 |
| Tax % | 23.19% | 24.52% | 24.33% | 24.56% | 23.12% | 23.04% | 21.57% | 21.78% | 23.72% | 23.61% | 22.91% | 19.67% |
| Net Profit | 35.08 | 45.87 | 34.12 | 35.73 | 38.87 | 36.71 | 21.82 | 25.71 | 33.48 | 39.69 | 32.71 | 17.56 |
| EPS in Rs | 14.78 | 9.67 | 7.18 | 7.49 | 8.10 | 7.53 | 4.47 | 5.22 | 6.84 | 8.12 | 6.68 | 3.56 |
All values in Rs. Crore unless otherwise stated. Source: CMIE Prowess, Quarterly Interim Standalone.