Safari Industries (India) Limited announced a final dividend of ₹2 per equity share for FY26 at its board meeting held on May 19, 2026, marking a 33.3% increase over the ₹1.50 final dividend declared in May 2025. The announcement was made to the NSE on the same day and is subject to shareholder approval.
Dividend Details
- Final Dividend FY26: ₹2.00 per equity share
- Interim Dividend FY26: ₹2.00 per equity share (declared November 10, 2025)
- Total FY26 Payout: ₹4.00 per equity share
- Dividend Yield (on last traded price of ₹1,423.60): approximately 0.28% on total FY26 payout; 0.14% on this final dividend alone
Year-on-Year Comparison and Dividend Trend
The total FY26 dividend payout of ₹4.00 per share compares to a combined FY25 payout of ₹3.50 (interim ₹2.00 in November 2025 and final ₹1.50 in May 2025), representing a 14.3% increase year on year. Looking further back, the company paid a combined ₹3.00 in FY24 (₹1.50 interim plus ₹1.50 final) and ₹4.50 in FY23 (₹2.50 interim plus ₹2.00 final). The FY22 payout stood at just ₹0.80 per share, underscoring the substantial growth in dividend distributions over four years.
The dividend trend reflects a company that has progressively scaled its shareholder return programme, though FY23 remains the highest single-year payout at ₹4.50 per share. The FY26 total of ₹4.00 is the second highest on record based on available history.
Market Context and Valuation
Safari Industries' stock was trading at ₹1,423.60 on May 19, 2026, down 0.20% on the day. The stock is trading close to its 52-week low of ₹1,363.10 recorded on May 6, 2026, and well below its 52-week high of ₹2,507.10 hit on November 26, 2025, implying a correction of approximately 43.2% from peak levels.
The company's price-to-earnings ratio stands at 41.62, which is identical to the sector PE of 41.62, suggesting the stock is currently valued in line with its peer group. The market capitalisation is ₹6,928.72 Cr. Safari Industries is a constituent of the NIFTY MICROCAP 250, NIFTY TOTAL MARKET, and NIFTY SMALLCAP 500 indices.
Trading Activity and Delivery Data
On the day of the announcement, the counter recorded a volume of 59,453 shares with a delivery percentage of 44.94%. A delivery percentage approaching 45% indicates a reasonable proportion of buying that is positional rather than intraday in nature. Daily volatility is recorded at 2.29%, consistent with the stock's small-cap classification.
Company Background
Safari Industries (India) Limited is a manufacturer and marketer of luggage and travel accessories. The company has steadily expanded its retail and distribution footprint across India and competes in the organised luggage segment alongside listed and unlisted players.
What This Means for Investors
The ₹2 final dividend, while representing a year-on-year improvement in the final payout specifically, translates to a modest yield of 0.14% at the current market price, reflecting the stock's significant decline from its November 2025 highs. Investors tracking dividend consistency will note that Safari has paid dividends continuously since at least FY22, with the quantum rising meaningfully. The proximity of the current price to the 52-week low and the stock trading at sector-average valuations are data points investors may wish to consider alongside the dividend announcement.