On a consolidated basis, net revenue surged 94.6% YoY to Rs 112.38 crore in H1 FY26, compared with Rs 57.76 crore in H1 FY25, supported by rapid retail expansion among organized retail clients. Net profit (PAT) nearly doubled, climbing 96.1% YoY to Rs 33.25 crore, up from Rs 16.96 crore in H1 FY25.
EBITDA surged 85.4% YoY to Rs 44.50 crore, while the EBITDA margin stood at 39.6%, only slightly lower than 41.5% in the same period last year, supported by improved capacity utilization and operating leverage.
The company attributed its robust performance to enhanced capacity utilization, automation upgrades, and higher export orders, aided by new partnerships in the Middle East. A key highlight of the quarter was the successful implementation of an advanced robotic cell at its subsidiary, boosting scalability and reducing cycle time.
On the infrastructure front, Safe Enterprises added a leased facility in Mumbai and expanded its Pune plant by 46,505 sq. ft, ensuring sufficient production headroom until the new Ambernath plant becomes operational.
Consolidated net cash flow from operating activities stood at Rs 42.87 crore in H1 FY26, higher than a cash flow of Rs 32.33 crore in H1 FY25.
Mikdad Merchant, promoter & chief financial officer, said: "The Indian retail landscape is undergoing a significant transformation — driven by the rapid expansion of organized retail formats, experiential store concepts, and increasing investments from global brands entering the market. As retailers continue to modernize and consumers seek immersive in-store experiences, Safe Enterprises is well-positioned to capitalize on this momentum."
The company expects healthy double-digit growth in FY26, fueled by capacity expansion, automation-led efficiency, and strong order inflows from both domestic and global retail clients. Rising investments in organized retail and new store formats are expected to sustain growth momentum in the coming quarters.
Safe Enterprises Retail Fixtures is engaged in the business of designing, manufacturing, supplying, and installing shop fittings and retail fixtures, offering a wide range of customized in-store solutions across diverse retail segments such as fashion & apparel, electronics, departmental stores, and quick-service restaurants. The company provides comprehensive merchandising and display solutions addressing the evolving needs of modern retailers and brand marketers — from conceptual design and prototyping to manufacturing and installation.