"The aforesaid document shall be followed by Sale Deed, subject to completion of Conditions Precedent and necessary approvals, if any," Safari Industries (India) said in a statement.

On a consolidated basis, Safari Industries (India) reported net profit of Rs 10.62 crore in Q2 September 2021 as against net loss of Rs 8.97 crore in Q2 September 2020. Net sales rose 199.65% to Rs 188.60 crore in Q2 September 2021 over Q2 September 2020.

Safari Industries (India) is in the business of manufacturing and trading of luggage and luggage accessories.