Quote on Safari Industries -1QFY22 - Result Update by Mr. Amarjeet Maurya, Angel Broking Ltd
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Below is quote on Safari Industries -1QFY22 - Result Update by Mr. Amarjeet Maurya - AVP - Mid Caps, Angel Broking Ltd
During the 1QFY22, Safari Industries Ltd (SIL) reported consolidated revenue of ~Rs120cr (up ~497% YoY) mainly due to healthy recovery in sales. On the consolidated EBITDA front, the company has reported profit of Rs7cr against loss of Rs19cr in 1QFY21 due to better operating leverage. On the bottom-line front, the company has reported profit of Rs2.5cr against loss of Rs19cr due to higher sales and better operating performance. Going forward, we expect SIL to report strong top-line & Bottom-line growth on the back of strong growth in the organized sector, wide distribution network, strong brand & promoter initiatives. We are positive on the stock with a Buy rating.
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