The Board of Directors of Safari Industries (India) Limited, in their meeting held on February 10, 2026, approved the unaudited standalone and consolidated financial results for the quarter ended December 31, 2025. On a consolidated basis, the company reported a revenue from operations of ₹512.37 Crores for Q3 FY26, representing a growth of 15.73% compared to ₹442.71 Crores in the corresponding quarter of the previous year. However, compared to the immediate previous quarter (Q2 FY26) where revenue stood at ₹533.55 Crores, there was a sequential decline of 3.97%. The consolidated net profit for the quarter was ₹32.89 Crores, showing an increase of 5.62% YoY from ₹31.14 Crores, but a significant QoQ decrease of 29.93% from ₹46.94 Crores.

Safari Industries (India) Limited is a leading Indian player in the luggage and travel accessories market, established in 1974. Headquartered in Mumbai, the company specializes in manufacturing and marketing a wide range of hard and soft luggage, including trolleys, backpacks, and business bags under popular brands like Safari, Magnum, and its premium labels ‘Urban Jungle’ and ‘Safari Select’. With a strong manufacturing presence in Halol, Gujarat, and a newly operational greenfield facility in Jaipur, Rajasthan, Safari has been aggressively expanding its production capacity and backward integration. In February 2026, the company announced strategic updates including the approval of a fundraise up to ₹500 Crores via Qualified Institutions Placement (QIP) and the re-appointment of Mr. Sudhir Jatia as Managing Director for another five-year term starting April 2026. The company continues to witness robust growth in the e-commerce and modern trade channels, maintaining its position as a major competitor in the organized luggage sector.

Title: Board Approves QIP Fundraising and Managing Director Re-appointment

During the Board meeting on February 10, 2026, Safari Industries (India) Limited reached several key strategic decisions beyond its financial reporting. The Board approved raising funds up to ₹500 Crores through the issuance of equity shares via Qualified Institutions Placement (QIP), subject to shareholder approval. Additionally, the Board recommended the re-appointment of Mr. Sudhir Jatia as Managing Director for a further five-year term effective from April 18, 2026. The meeting also noted the resignation of Mr. Rameez Shaikh as Company Secretary and Compliance Officer, effective April 17, 2026, and approved the transition of the Registrar and Share Transfer Agent (RTA) to MUFG Intime India Private Limited to accommodate the company’s growing shareholder base.

Safari Industries operates in the competitive luggage and travel accessories industry, offering products across various price segments. In 2025, the company focused on scaling its Jaipur manufacturing plant, which reached a 70% utilization rate by mid-year, enhancing its backward integration for trolley and wheel production. Recent updates include the successful launch of premium brands like ‘Urban Jungle’, which now contributes nearly 5% to the total revenue. The company has not reported any major third-party orders but continues to strengthen its domestic distribution network, particularly in General Trade (GT) and Modern Trade (MT) channels, which saw significant volume momentum throughout 2025.

In the latest nine-month period ending December 31, 2025, Safari Industries reported a standalone revenue of ₹1,571.91 Crores, a 16.5% increase from ₹1,349.11 Crores in the previous year’s corresponding period. The net profit for the same nine-month period rose to ₹89.85 Crores, up from ₹84.05 Crores. The company attracts significant interest from institutional investors; notably, famous investor Ashish Kacholia held a 1.84% stake (900,000 shares) as of December 2025. Other prominent institutional backers include Malabar India Fund Limited and various schemes from HSBC and DSP Mutual Funds, reflecting strong investor confidence in Safari’s growth trajectory and market expansion.