The term of the agreement is 20 years which may be renewed further period of 20 years at the discretion of the company. Under the terms, total license fees payable to CRL will be Rs 45 Lakh or 5% of total net sales, whichever is higher, at the end of each license year.

In addition, the company will pay an interest-free refundable security deposit of Rs 99.50 crore to CRL. The deposit will be paid in tranches over a specified period, subject to the terms and conditions outlined in the agreement.

Safari Industries (India) is engaged in the manufacturing and marketing of luggage and luggage accessories. The company’s consolidated net profit rose 5.6% to Rs 32.89 crore on 15.7% jump in net sales to Rs 512.37 crore in Q3 FY26 over Q3 FY25.

The counter fell 1.90% to Rs 1797.45 on the BSE.