Safari Industries (India)NSE:SAFARI -1.37%83 Interest Coverage is 21.86 as of Mar. 2026, which is 16% above its 10-year median of 18.77. GuruFocus rates NSE:SAFARI with a GF Score™ of 83/100 and a GF Value™ of ₹2,690.02 (Possible Value Trap). The stock has 2 warning signs investors should review. Among 736 Manufacturing - Apparel & Accessories companies, Safari Industries (India) ranks better than 75.27% on this metric.
Interest Coverage is a ratio that determines how easily a company can pay interest expenses on outstanding debt. It is calculated by dividing a company's
Operating Income
by its Interest Expense. Safari Industries (India)'s
Operating Income
for the
three
months ended in Mar. 2026 was ₹439 Mil. Safari Industries (India)'s Interest Expense for the
three
months ended in Mar. 2026 was ₹-20 Mil.
Safari Industries (India)'s interest coverage for the quarter that ended in Mar. 2026 was 21.86.
The higher the ratio, the stronger the company's financial strength is.
The historical rank and industry rank for Safari Industries (India)'s Interest Coverage or its related term are showing as below:
NSE:SAFARI'
s Interest Coverage Range Over the Past 10 Years
Min: 7.26 Med: 18.77 Max: 25.13
Current: 23.27
NSE:SAFARI's Interest Coverage is ranked better than 75.27% of 736
companies
in the Manufacturing - Apparel & Accessories industry
Industry Median: 5.435
vs NSE:SAFARI: 23.27
Ben Graham requires that a company has a minimum interest coverage of 5 with the companies he invested. If the interest coverage is less than 2, the company is burdened by debt. Any business slow or recession may drag the company into a situation where it cannot pay the interest on its debt.
Interest Coverage is an important factor when GuruFocus ranks a company's overage Financial Strength .
Safari Industries (India) Interest Coverage Related Terms
Safari Industries (India) Interest Coverage Historical Data
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Note: For Interest Coverage, "No debt" indicates no long-term debt. An indication of "No Debt" does not necessarily mean that the company has no long-term debt obligations; it could be due to missing data in the quarterly or annual report. Use caution when interpreting this information.
NSE:SAFARI vs NKE, DECK, ONON: Interest Coverage Comparison
For the Footwear & Accessories subindustry, Safari Industries (India)'s Interest Coverage, along with its competitors' market caps and Interest Coverage data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Safari Industries (India) Interest Coverage vs Manufacturing - Apparel & Accessories Industry
For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, Safari Industries (India)'s Interest Coverage distribution charts can be found below:
* The bar in red indicates where Safari Industries (India)'s Interest Coverage falls into.
Interest Coverage is a ratio that determines how easily a company can pay interest expenses on outstanding debt. It is calculated by dividing a company's Operating Income (EBIT) by its Interest Expense:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Safari Industries (India) (NSE:SAFARI) has a Interest Coverage of 21.86 as of Mar. 2026. Interest Coverage measures a company's capability to pay interest expenses on its debt. View historical data on Safari Industries (India) and its competitors. This is 16% above median its historical median of 18.77. Over the past decade, Safari Industries (India)'s Interest Coverage has ranged from 7.26 to 25.13. According to the industry distribution chart, Safari Industries (India) ranks #182 out of 736 companies in the Manufacturing - Apparel & Accessories industry, placing it in the top 24.7%.
Is Safari Industries (India)'s Interest Coverage too high?
Safari Industries (India)'s current Interest Coverage of 21.86 is 16% above median its 10-year median of 18.77. Over the past 10 years, this metric has ranged from a low of 7.26 to a high of 25.13. The Manufacturing - Apparel & Accessories industry median Interest Coverage is 5.44. Safari Industries (India)'s value of 21.86 is 302.2% above this industry median. Based on the distribution chart, Safari Industries (India) ranks #182 out of 736 companies in the Manufacturing - Apparel & Accessories industry, which is in the top quartile — a strong position relative to peers. Overall, Safari Industries (India) has a GF Score™ of 83/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Safari Industries (India)'s Interest Coverage compare to NKE and DECK?
According to the Manufacturing - Apparel & Accessories industry distribution chart, Safari Industries (India) ranks #182 out of 736 companies for Interest Coverage. This places Safari Industries (India) in the top 25% of its industry — outperforming the majority of peers. The industry median Interest Coverage is 5.44. Safari Industries (India)'s value of 21.86 is 302.2% above this benchmark. Historically, Safari Industries (India)'s own Interest Coverage has ranged from 7.26 to 25.13 over the past decade. While the company's 10-year median is 18.77 vs. the industry median of 5.44, Safari Industries (India) has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Interest Coverage for a Manufacturing - Apparel & Accessories company?
The median Interest Coverage among Manufacturing - Apparel & Accessories companies is 5.44, based on 736 companies in the industry. Companies in the top quartile (top 25%) have a Interest Coverage significantly above this median, while those in the bottom quartile fall well below. However, Interest Coverage should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Safari Industries (India)'s current Interest Coverage of 21.86 is 302.2% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Interest Coverage mean?
A high Interest Coverage can signal that a stock is expensive relative to its fundamentals. Interest Coverage measures a company's capability to pay interest expenses on its debt. View historical data on Safari Industries (India) and its competitors. For the Manufacturing - Apparel & Accessories industry, the median Interest Coverage is 5.44 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Safari Industries (India)'s current Interest Coverage is 21.86, which is 16% above median its own 10-year median of 18.77. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Safari Industries (India) stock overvalued right now?
Based on GuruFocus' analysis, Safari Industries (India) (NSE:SAFARI) is currently considered Possible Value Trap. The stock's GF Value™ is ₹2,690.02, compared to a current price of ₹1,617.50 — trading 39.9% below its estimated fair value. The current Interest Coverage is 21.86, which is 16% above median its 10-year median of 18.77 and 302.2% above the Manufacturing - Apparel & Accessories industry median of 5.44. Safari Industries (India)'s overall GF Score™ is 83/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Interest Coverage calculated?
Interest Coverage is calculated from a company's financial statements. For Safari Industries (India) (NSE:SAFARI), the current Interest Coverage is 21.86 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Safari Industries (India) (NSE:SAFARI) Overvalued in 2026?
Based on GuruFocus' analysis, Safari Industries (India) stock appears to be undervalued.
The current stock price of ₹1,617.50 is trading 39.9% below its estimated GF Value™ of ₹2,690.02.
GuruFocus considers Safari Industries (India) to be Possible Value Trap.
Key valuation signals for NSE:SAFARI:
Interest Coverage: 21.86 (16% above median its 10-year median of 18.77)
GF Value™: ₹2,690.02 vs. price of ₹1,617.50 (39.9% below fair value)
Industry Position: 302.2% above the Manufacturing - Apparel & Accessories median (#182 of 736)
No single metric tells the full story. See the NSE:SAFARI stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Safari Industries (India) Ltd is an India-based company engaged in the manufacturing and marketing of luggage and luggage accessories. The company offers Hard luggage cases and Soft luggage cases. The company's product range includes Laptop bags, Backpacks, suitcases, four and two-wheel trolleys, Duffle bags, and Rolling duffle bags, and others.
83GF Score
Get the complete analysis for NSE:SAFARI
Interest Coverage is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
NSE:SAFARI has been successfully added to your 
