Motilal Oswal sees 58% upside in Safari Industries, flags VIP-Samsonite-D2C heat
Brokerage reiterates Buy with Rs 2,250 target on Safari Industries, citing Urban Jungle premium push, Jaipur capacity ramp, new SKUs, and 4-5 EBO additions per month. Valuation pegged at 45x FY28 P/E. Rising competitive intensity from VIP, Samsonite, and D2C entrants remains the key overhang.
What happened
Motilal Oswal reiterates Buy on Safari Industries with Rs 2,250 target (58% upside), citing Urban Jungle brand build, Jaipur capacity, new SKUs, and 4-5 EBO
Key facts
- 58% upside
- Target Rs 2,250
- P/E 45x FY28
- 4-5 EBOs/month
Why this matters
Intensifying VIP-Samsonite-D2C competition and Safari's premium pivot signal a window for bolt-on D2C luggage acquisitions or strategic partnerships to defend share before multiples reset.