Safe Enterprises Retail Fixtures Ltd(SAFEENTP)

NSE: SAFEENTP

₹ 231.75+0.00%refreshed 26 Oct, 01:01 pm ISTMarket cap: ₹ 1,080 crUpdated: 24 Oct 2026

About

Safe Enterprises Retail Fixtures Ltd designs, manufactures, supplies and executes customised retail fixture solutions and allied products for modern retail environments in domestic and select international markets. It has delivered over 50,000 projects, with 3,000+ standardised components, 17 registered design patents and 11 product ranges. In FY26 the company reported revenue from operations of INR 218.4 cr, a 57% year-on-year increase. Its shares listed on the NSE Emerge (SME) platform on 27 June 2025 after its IPO.^[1][2]

Revenue mix by order type

New-store orders made up 68.9% of FY26 revenue and store refurbishments 24.8%.^[2]
Average revenue per store grew 65% to INR 51.4 lakhs in FY26, which the company attributes to higher fixture intensity, larger store formats and a richer product mix.^[2]

Products and brands

The core offering is metal-works and wood-works retail fixtures, including shelving, display units and modular shop fittings, built to standardised engineering with customisable skins.^[3]
As of FY26 the company has delivered over 50,000 projects and has 3,000+ standardised components, 17 registered design patents and 11 product ranges.^[1]
INSYNC Shop Fittings, launched in 2010, is the company's research, product development and distribution platform for modular shopfitting systems.^[1]
WAVE, launched in FY26, is an RFID-based self-checkout product. The FY26 annual report sizes the retail automation industry it targets at USD 30 bn+.^[2][1]
EVOLV, launched in FY26, is an electrified modular track system for home and lifestyle interiors, a segment the FY26 annual report puts at a USD 800 bn+ global addressable market.^[2][1]

Manufacturing capacity and utilisation

Metal-works: installed capacity 15,335 tonnes, production 13,851.62 tonnes, utilisation 90.33% in FY25 vs 87.51% in FY24.^[3]
Wood-works: installed capacity 39,10,000 sq ft, production 34,36,890 sq ft, utilisation 87.90% in FY25 vs 84.21% in FY24.^[3]
Utilisation at both metal-works and wood-works was above 90% in FY26, compared with 90.33% and 87.90% in FY25.^[2]
The Pune facility was expanded by 46,505 sq ft in March 2026, taking its area from 50,000 sq ft to 96,505 sq ft.^[2]
A leased facility in Mumbai was added in H1 FY26 to provide capacity until the Ambernath plant opens.^[4]
A robotic cell was installed at the subsidiary in H1 FY26 to increase automation and reduce cycle time.^[4]
The subsidiary Safe Enterprises Retail Technologies adds UL-certified modular and electrified shop-fittings capacity.^[3]

Key operating numbers

The company served 425 stores in FY26, compared with 445 in FY25.^[2]

Customers and markets

Customers include fashion and apparel outlets, lifestyle and consumer retail stores, and brand outlets, according to the FY26 annual report.^[1]
As of H1 FY26, management was working to reduce client concentration by expanding into new retail formats and geographies.^[4]
Export order volumes rose in H1 FY26, supported by new partnerships in the Middle East.^[4]
The company has distributors in Dubai (UAE) and Kansas City (USA).^[3]

Expansion and capex

Ambernath greenfield plant: 2,50,000 sq ft of manufacturing space with total capex of INR 95 cr for land, building and machinery, targeted for Q3 FY27 (by December 2026).^[2]
The FY26 annual report projects total plant area rising from 1,92,930 sq ft to 3,46,505 sq ft, a 79.6% increase.^[1]

Recent developments

After FY26 ended, the company bought the remaining 5.74% of Safe Enterprises Retail Technologies Pvt Ltd, making it a wholly-owned subsidiary. It had been a subsidiary since November 2024.^[1][3]
Inscite Advisory Services LLP was acquired as a subsidiary to provide strategic and financial advisory services, according to the FY26 annual report.^[1]
The IPO raised INR 16,974 lakhs in H1 FY26, with IPO expenses of INR 1,811.49 lakhs. The shares listed on NSE Emerge on 27 June 2025.^[4][1]

Market Cap

₹1,080 Cr

High / Low

₹319 / 184

Stock P/E

18.8

Price / Book

4.7

Book Value

₹62

EPS

₹13.7

No. of Shares

4.66 Cr

ROCE

29.5%

ROE

22.0%

OPM

37.8%

Debt / Equity

0.00

Sales

₹218 Cr

Net Profit

₹64 Cr

Promoter holding

70.1%

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