Safe Enterprises FY26 Net Profit Jumps 63% to ₹63.90 Crore
Safe Enterprises Retail Fixtures Limited reported a 63% rise in FY26 net profit to ₹63.90 crore, with revenue from operations increasing 57% to ₹218.42 crore. The EBITDA margin improved to 36.2%, driven by a 65% increase in revenue per store to ₹51.39 lakh. The company is expanding its Ambernath plant and launched new products WAVE and EVOLV.
*this image is generated using AI for illustrative purposes only.
Safe Enterprises Retail Fixtures Limited announced its audited financial results for the fiscal year ended March 31, 2026, reporting a substantial rise in profitability and operational revenue. On a consolidated basis, the company reported a net profit of ₹63.90 crore for FY26, a significant increase from ₹39.19 crore in the previous year. Revenue from operations surged 57.9% to ₹218.42 crore, compared to ₹138.31 crore in FY25. The audio recording of the earnings conference call conducted on May 19, 2026, to discuss these results is available on the company's website.
Financial Performance
The company’s operating EBITDA before extraordinary items grew by 60.0% to ₹79.09 crore in FY26 from ₹49.44 crore in the prior year. Consequently, the EBITDA margin improved to 36.2% from 35.7% in FY25. The PAT margin also saw an uptick, reaching 29.2% for the year ended March 31, 2026, compared to 28.3% in the previous year. Basic earnings per share (EPS) increased to ₹14.62 from ₹11.42 in the previous year.
Operational Highlights
For the year ended March 31, 2026, the company executed fixtures for 425 stores across 25 states and union territories, serving 88 unique customers. A key driver for the financial performance was the increase in revenue intensity per store, which rose to ₹51.39 lakh in FY26 from ₹31.08 lakh in FY25. This 65.35% increase was attributed to higher fixture volumes per outlet, larger project scopes, and an improved product mix.
Revenue from refurbishments and additions contributed approximately ₹54 crore, accounting for 24.8% of the total revenue for FY26. The company noted that refurbishments are a recurring part of the business with a cycle of approximately every 3-4 years.
Manufacturing and Expansion
The company expanded its Pune manufacturing facility by 46,505 sq. ft. in March 2026, increasing the total area to 96,505 sq. ft. Additionally, a new Ambernath plant with a capacity of 250,000 sq. ft. is scheduled for completion by December 2026. Post-completion, the existing leased Mumbai facilities will be consolidated into the new plant to drive efficiency.
Management provided guidance for the long term, suggesting a sustainable PAT margin of around 25%. The company also launched two new product lines, WAVE, an RFID-based self-checkout solution, and EVOLV, for the home interior segment.
| Financial Metric (Year Ended March 31) | 2026 (₹ in Lakhs) | 2025 (₹ in Lakhs) |
|---|---|---|
| Revenue from Operations | 21,841.51 | 13,831.31 |
| Total Revenue | 22,650.36 | 13,973.18 |
| Total Expenses | 14,114.46 | 8,973.46 |
| Net Profit | 6,385.83 | 3,918.54 |
| Basic EPS (₹) | 14.62 | 11.42 |
Historical Stock Returns for Safe Enterprises Retail Fixtures
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +0.22% | -1.89% | +10.02% | -4.86% | +69.00% | +69.00% |
How will the completion of the Ambernath plant by December 2026 impact the company's production capacity and ability to scale revenue beyond ₹300 crore in FY27?
What is the addressable market opportunity for the newly launched WAVE RFID self-checkout and EVOLV home interior product lines, and how quickly could they contribute meaningfully to revenue?
Given that refurbishments currently account for ~25% of revenue on a 3-4 year cycle, how will the growing installed base of stores served translate into a predictable recurring revenue stream over the next 2-3 years?
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