Analysts pick Safari over VIP as Q4 splits luggage duopoly
Safari Industries posted 12% Q4 revenue growth to ₹473.3cr with stable PAT of ₹37.47cr, while VIP's loss widened to ₹128.9cr on a 12% revenue drop. VIP's market share has collapsed from 47% to 29%, leaving it dependent on a Multiples-led turnaround. Elara sets Safari TP at ₹361 despite a rich 45-55x P/E.
Analysts back Safari Industries over VIP after Q4FY26 results: Safari posted 12% revenue growth and stable profit, while VIP's loss widened to ₹128.9cr with market share falling from 47% to 29%, awaiting Multiples-led turnaround.
Why this matters
Reinforces a bullish analyst tilt toward Safari, following Motilal Oswal's 58% upside call flagging VIP-Samsonite-D2C competitive heat. Q4 prints harden the divergence thesis between Safari and VIP.
Retail-company signals steady at 921 over 90 days, with luggage-sector divergence sharpening.