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 consolidated net profit of ₹47.75 crore for the quarter ended June 30, 2026, a 5.8% decline from the ₹50.49 crore posted in the corresponding quarter of the previous fiscal year. Despite the dip in profitability, the company demonstrated strong top-line momentum, with total income from operations rising 11.5% year-on-year to ₹588.58 crore from ₹527.83 crore. This divergence between revenue growth and profit contraction suggests potential pressure on operating margins or increased costs during the period.

The disclosure was made pursuant to Regulation 47 read with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The unaudited financial results were published in Business Standard and Sakal on August 5, 2026, and are available on the company’s website at www.safaribags.com . The filing confirms that the financial statements have been prepared in accordance with Indian Accounting Standards (IND AS) prescribed under Section 133 of the Companies Act, 2013.

Financial Performance Overview

On a standalone basis, revenue from operations stood at ₹586.77 crore for the quarter, up from ₹527.34 crore in Q1FY25. Standalone profit after tax was ₹28.87 crore, compared to ₹39.69 crore in the same quarter last year, indicating a sharper decline in standalone profitability than in the consolidated figures.

What the Numbers Show

The primary driver of the quarter’s performance was the significant increase in total income from operations, which grew by over ₹60 crore compared to the prior year. However, this growth did not translate proportionally into net profit. While pre-tax profits remained relatively stable at ₹61.05 crore versus ₹65.44 crore in Q1FY25, the post-tax net profit declined more sharply. This pattern suggests that while core business activity expanded, factors such as tax provisions or other non-operational expenses may have impacted the final bottom line. Investors should note that the company’s paid-up equity share capital remains unchanged at ₹9.80 crore.

Abhijaat Sinha, Company Secretary & Legal Head, signed off on the intimation, confirming the submission to both BSE Limited and the National Stock Exchange of India Limited.