Safari Industries shareholders approved a final dividend of ₹2 per equity share for the financial year ended March 31, 2026, and re-appointed key board members at the company’s 46th Annual General Meeting (AGM). The meeting, chaired by Chairman & Managing Director Sudhir Jatia, was conducted through Video Conference / Other Audio Visual Means (OAVM) on August 4, 2026, starting at 3:30 pm IST. All five resolutions placed before the members—covering financial statements, dividend declaration, and director appointments—were passed with the requisite majority.

The AGM proceedings were scrutinized by Dilip Bharadiya, Partner of M/s. Dilip Bharadiya & Associates, appointed as the Scrutinizer to ensure fair and transparent remote e-voting. As of the cut-off date of July 29, 2026, the company had 37,362 shareholders eligible for e-voting. A total of 44 shareholders attended the meeting virtually, comprising two from the promoter group and 42 from the public category. The meeting concluded at 4:05 pm IST after a 15-minute window for e-voting.

Resolutions Passed

Shareholders approved both ordinary and special business items during the meeting. The Board of Directors had previously circulated the notice, report, and audited standalone and consolidated financial statements for FY26, which were taken as read due to the absence of qualifications in the Statutory Auditors' Report.

Piyush Goenka (DIN: 02117859) retired by rotation under Section 152(6) of the Companies Act, 2013, and offered himself for re-appointment. Similarly, Sridhar Balakrishnan (DIN: 08699523) and Aseem Dhru (DIN: 01761455) were re-appointed as Non-Executive Independent Directors pursuant to special resolutions.

Compliance and Disclosure

The company complied with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, by submitting the summary of proceedings to the Bombay Stock Exchange and the National Stock Exchange of India Limited. Members who registered as speakers addressed the meeting through VC/OAVM, seeking clarifications on the company’s accounts and business operations, which were addressed by the Chairman. The consolidated Scrutinizer’s Report and voting results, mandated under Section 108 of the Companies Act, 2013 read with Rule 20 of the Companies (Management and Administration) Rules, 2014, will be submitted to the stock exchanges and uploaded on the company’s website, NSDL, and exchange portals in due course.

Safari Industries (India) Limited reported a standalone net profit of ₹28.87 crore for the quarter ended June 30, 2026, marking a 27% year-on-year decline from ₹39.69 crore in Q1FY25. This contraction occurred despite an 11% surge in revenue from operations to ₹586.77 crore, up from ₹527.34 crore in the prior-year period. The divergence between top-line growth and bottom-line pressure highlights significant margin compression during the quarter. Concurrently, the Board of Directors appointed Aditya Bhargava as Chief Financial Officer, effective August 4, 2026.

The Board meeting, held on August 4, 2026, approved the unaudited financial results for both standalone and consolidated entities. Consolidated revenue from operations rose 11% to ₹588.58 crore, compared to ₹527.83 crore in Q1FY25. However, consolidated net profit slipped 5% to ₹47.75 crore from ₹50.49 crore in the corresponding period last year. The results were reviewed by Walker Chandiok & Co LLP, the statutory auditors, pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Financial Performance Breakdown

Standalone total income increased to ₹596.73 crore from ₹536.03 crore in Q1FY25, driven primarily by higher revenue. Other income remained stable at ₹9.96 crore. Total expenses rose to ₹559.05 crore from ₹484.07 crore, with purchases of stock-in-trade increasing significantly to ₹316.00 crore from ₹252.09 crore. Employee benefits expense also edged up to ₹29.86 crore from ₹26.05 crore.

Tax expense for the standalone entity was ₹8.81 crore, compared to ₹12.27 crore in Q1FY25. For the consolidated group, tax expense stood at ₹13.30 crore against ₹14.95 crore in the previous year. Earnings per share (basic) declined to ₹5.89 from ₹8.12 on a standalone basis and to ₹9.75 from ₹10.33 on a consolidated basis.

What the Numbers Show

The financial data reveals a clear trend of expanding sales but contracting profitability. While revenue grew by approximately 11%, net profit fell by 27% standalone and 5% consolidated. This suggests that the cost structure did not scale efficiently with revenue growth. Specifically, the increase in 'purchases of stock-in-trade' and 'other expenses' outpaced revenue growth. In the standalone figures, other expenses rose to ₹125.40 crore from ₹111.66 crore, indicating potential operational inefficiencies or higher input costs that were not fully passed on to customers. Investors should monitor whether these margin pressures are temporary or structural in subsequent quarters.

Leadership Change

Aditya Bhargava assumes the role of CFO and Key Managerial Personnel immediately. He joins from Badshah Masala Private Limited, a Dabur enterprise, where he served as CFO and SAARC Finance Head. With qualifications including a Chartered Accountancy degree and B.Com Honors from Delhi University, Bhargava brings experience from PepsiCo India and Gillette India. His appointment follows recommendations from the Nomination, Remuneration and Compensation Committee and the Audit Committee. The company disclosed this change under SEBI Master Circular No HO/49/14/14(7)2025-CFD-POD2/1/3762/2026 dated January 30, 2026.