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Results
18-May-24
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Analysis
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Safari Industries (India)
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Robust performance
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Consolidated net sales (including other
operating income) of Safari Industries (India) has increased 20.72% to Rs
365.42 crore. Operating profit margin has declined from 19.25% to 18.29%,
leading to 14.72% rise in operating profit to Rs 66.85 crore. Raw material cost as a % of total sales (net
of stock adjustments) increased from 26.39% to 31.64%. Purchase of finished goods cost fell from
34.50% to 22.01%. Employee cost decreased
from 6.27% to 6.07%. Other expenses
rose from 17.13% to 23.54%.
Other income rose 89.51% to Rs 5.06
crore. PBIDT rose 18% to Rs 71.91
crore. Provision for interest rose 4.09%
to Rs 2.29 crore. Loan funds rose to Rs
146.26 crore as of 31 March 2024 from Rs 139.41 crore as of 31 March 2023. Inventories rose to Rs 269.43 crore as of 31
March 2024 from Rs 266.39 crore as of 31 March 2023. Sundry debtors were lower at Rs 165.41 crore
as of 31 March 2024 compared to Rs 169.33 crore as of 31 March 2023. Cash and bank balance rose to Rs 218.35 crore
as of 31 March 2024 from Rs 86.47 crore as of 31 March 2023.
PBDT rose 18.52% to Rs 69.62 crore. Provision for depreciation rose 49.56% to Rs
13.7 crore. Fixed assets increased to Rs
292.87 crore as of 31 March 2024 from Rs 183.61 crore as of 31 March 2023. Intangible assets increased from Rs 0.44
crore to Rs 1.16 crore.
Profit before tax grew 12.79% to Rs 55.92
crore. Share of profit/loss were nil in
both the periods. Provision for tax was
expense of Rs 12.73 crore, compared to Rs 11.5 crore. Effective tax rate was 22.76% compared to
23.19%.
Minority interest was nil in both the
periods. Net profit attributable to
owners of the company increased 13.42% to Rs 43.19 crore.
Equity capital increased from Rs 4.74 crore
as of 31 March 2023 to Rs 9.75 crore as of 31 March 2024. Per share face Value remained same at Rs
2.00.
Promoters’ stake was 45.73% as of 31 March
2024 compared to 47.23% as of 31 March 2023 .
Full
year results analysis
Net sales (including other operating income)
of Safari Industries (India) has increased 27.92% to Rs 1550.42 crore. Operating profit margin has jumped from
16.24% to 17.90%, leading to 40.98% rise in operating profit to Rs 277.53
crore. Raw material cost as a % of total
sales (net of stock adjustments) increased from 26.41% to 29.87%. Purchase of finished goods cost fell from
34.58% to 22.77%. Employee cost
decreased from 6.50% to 6.31%. Other
expenses rose from 17.59% to 23.09%.
Other income rose 46.72% to Rs 13.88
crore. PBIDT rose 41.24% to Rs 291.41
crore. Provision for interest rose
19.20% to Rs 9.5 crore. Loan funds rose
to Rs 146.26 crore as of 31 March 2024 from Rs 139.41 crore as of 31 March
2023. Inventories rose to Rs 269.43
crore as of 31 March 2024 from Rs 266.39 crore as of 31 March 2023. Sundry debtors were lower at Rs 165.41 crore
as of 31 March 2024 compared to Rs 169.33 crore as of 31 March 2023. Cash and bank balance rose to Rs 218.35 crore
as of 31 March 2024 from Rs 86.47 crore as of 31 March 2023.
PBDT rose 42.13% to Rs 281.91 crore. Provision for depreciation rose 55.48% to Rs
51.79 crore. Fixed assets increased to
Rs 292.87 crore as of 31 March 2024 from Rs 183.61 crore as of 31 March
2023. Intangible assets increased from
Rs 0.44 crore to Rs 1.16 crore.
Profit before tax grew 39.43% to Rs 230.12
crore. Share of profit/loss were nil in
both the periods. Provision for tax was
expense of Rs 54.31 crore, compared to Rs 39.95 crore. Effective tax rate was 23.60% compared to
24.21%.
Minority interest was nil in both the
periods. Net profit attributable to
owners of the company increased 40.55% to Rs 175.81 crore.
Equity capital increased from Rs 4.74 crore
as of 31 March 2023 to Rs 9.75 crore as of 31 March 2024. Per share face Value remained same at Rs
2.00.
Promoters’ stake was 45.73% as of 31 March
2024 ,compared to 47.23% as of 31 March 2023 .
Cash flow from operating activities increased
to Rs 216.92 crore for year ended March 2024 from Rs 50.63 crore for year ended
March 2023. Cash flow used in acquiring
fixed assets during the year ended March 2024 stood at Rs 111.23 crore,
compared to Rs 50.31 crore during the year ended March 2023.
The scrip is
currently trading at Rs 2107
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Safari Industries (India) :
Consolidated Results
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Particulars
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2403 (03)
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2303 (03)
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Var.(%)
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2403 (12)
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2303 (12)
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Var.(%)
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Net Sales
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365.42
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302.71
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21
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1,550.42
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1,211.98
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28
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OPM (%)
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18.3
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19.3
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17.9
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16.2
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OP
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66.85
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58.27
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15
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277.53
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196.86
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41
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Other Inc.
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5.06
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2.67
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90
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13.88
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9.46
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47
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PBIDT
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71.91
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60.94
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18
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291.41
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206.32
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41
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Interest
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2.29
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2.2
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4
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9.5
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7.97
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19
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PBDT
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69.62
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58.74
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19
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281.91
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198.35
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42
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Depreciation
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13.7
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9.16
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50
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51.79
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33.31
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55
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PBT
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55.92
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49.58
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13
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230.12
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165.04
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39
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Share of Profit/(Loss) from Associates
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0
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0
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-
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0
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0
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-
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PBT before EO
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55.92
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49.58
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13
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230.12
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165.04
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39
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EO Income
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0
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0
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-
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0
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0
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-
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PBT after EO
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55.92
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49.58
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13
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230.12
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165.04
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39
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Taxation
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12.73
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11.5
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11
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54.31
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39.95
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36
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PAT
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43.19
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38.08
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13
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175.81
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125.09
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41
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Minority Interest (MI)
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0
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0
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-
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0
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0
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-
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Net profit
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43.19
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38.08
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13
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175.81
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125.09
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41
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EPS (Rs)*
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#
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#
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36.1
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25.7
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Notes
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* EPS is on current equity of Rs 9.75 crore, Face value of Rs 2,
Excluding extraordinary items.
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# EPS is not annualised
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bps : Basis points
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EO : Extraordinary items
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Figures in Rs crore
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Source: Capitaline Corporate Database
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