Safari Industries reported better than expected Q2FY22 result. Its sales/ EBIDTA were significantly above our estimates. Safari Industries' net sales increased by 2x YoY to Rs1.9 bn as luggage sales jumped up sharply. Even EBIDTA improved to Rs180 mn compared to loss of Rs53 mn in Q2FY21 and interest cost fell 26% YoY to Rs14 mn. Hence, net profit improved to Rs107 mn (loss of Rs90 mn in Q2FY21). The company has announced capex...