This Luggage Maker Multibagger Stock Surges Over 800% In 3 Years – News18

Investing in stocks has often led to many turning into millionaires. What makes the stock market interesting is that it does not take decades to become a millionaire, but some judicious decisions can transform your financial condition in a few years. Safari Industries India Ltd is one such multibagger stock that has given eight times returns to investors in just three years.

During this time period, an investment of Rs 1 lakh in this luggage maker stock would have turned into Rs 8 lakh.

In August 2020, the stock of Safari Industries India Ltd was trading at Rs 400 per share. Now in August 2023, the shares have reached a level of over Rs 3,500.

The return on the stock has been 800% in the last three years and the stock has increased by 140% in just a year.

In the last 14 years, the return on the stock of Safari Industries is 85,000%. In September 2009, the shares of this company were trading at Rs 4 per piece. If at that time a shareholder had invested Rs 1 lakh in the shares, then today it will be worth nearly Rs 8.7 crore.

Safari Industries India Ltd is known for manufacturing luggage bags and accessories. The manufacturing of the luggage bags takes place at its plant which is located in Halol near Baroda, Gujarat.

The net profit of the company last year was Rs 26.59 crore. However, in the first quarter of the current financial year (FY 2023-2024), it grew 88% to Rs 49.94 crore.

The company’s revenue in the June quarter of the current fiscal stood at Rs 426.68 crore. In the year-ago quarter, it was Rs 293.04 crore, marking a robust 46% growth.