External broker reports(aggregated public sources), Prabhudas Lilladhar

Prabhudas Lilladhar

Prabhudas Lilladher is one of India's leading research based financial services organisation.  

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only.  Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

External broker reports(aggregated public sources)

Prabhudas Lilladher is one of India's leading research based financial services organisation.

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

Safari Industries India / Equity Bottom-Up

<ul><li>We cut our EPS estimates by 7%/5% for FY26E/FY27E as we fine tune our topline growth assumptions in light of rising competitive intensity.</li><li>Safari reported an in-line performance with EBITDA margin of 11.4% (PLe 11.3%) as pricing environment has become increasingly competitive (volume growth of 22% resulted in value growth of 14% indicating price erosion).</li><li>We believe pricing pressure would prevail in the near term given one leading player is undergoing inventory liquidation and e-com channel is becoming increasingly relevant to gain market share.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

We cut our EPS estimates by 7%/5% for FY26E/FY27E as we fine tune our topline growth assumptions in light of rising competitive intensity.Safari reported an in-line performance with EBITDA margin of 11.4% (PLe 11.3%) as pricing environment has become increasingly competitive (volume growth of 22% resulted in value growth of 14% indicating price erosion).We believe pricing pressure would prevail in the near term given one leading player is undergoing inventory liquidation and e-com channel is becoming increasingly relevant to gain market share.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Safari Industries (India) (SII IN) - Margin Pressure Persists