Safari Industries posted 12% Q4 revenue growth to ₹473.3cr with stable PAT of ₹37.47cr, while VIP's loss widened to ₹128.9cr on a 12% revenue drop. VIP's market share has collapsed from 47% to 29%, leaving it dependent on a Multiples-led turnaround. Elara sets Safari TP at ₹361 despite a rich 45-55x P/E.

Mint · Markets · 5/22/2026, 6:28:54 AM

Brokerage reiterates Buy with Rs 2,250 target on Safari Industries, citing Urban Jungle premium push, Jaipur capacity ramp, new SKUs, and 4-5 EBO additions per month. Valuation pegged at 45x FY28 P/E. Rising competitive intensity from VIP, Samsonite, and D2C entrants remains the key overhang.

NDTV Profit · 5/20/2026, 7:22:07 AM