3 Luggage Brand, Utility Vehicles and Tractors Maker and Stainless Steel Pipes Maker Stocks With a Strong Future Roadmap: Safari Industries (India), Mahindra and Mahindra and Ratnamani Metals and Tubes
- November 10, 2026
- Posted by: Harsh Piplani
- Category: Best Stocks
Safari Industries (India), Mahindra and Mahindra and Ratnamani Metals and Tubes: ROE of 11.7% to 18.4% and FY22 to FY26 revenue CAGR of 9.8% to 30.6%. Prices as of 9 Nov 2026.
Quick Answer
The three luggage, utility vehicle and steel pipe stocks to watch are Safari Industries (India), Mahindra and Mahindra and Ratnamani Metals and Tubes. Their return on equity ranges from 11.7% to 18.4%, and their revenue compound annual growth from FY22 to FY26 ranges from 9.8% to 30.6%. Mahindra and Mahindra has the highest return on equity at 18.4%, while Safari Industries (India) has the fastest revenue growth at 30.6% a year. Prices are based on the 9 November 2026 close, and this article is educational, not investment advice.
Luggage, utility vehicle and steel pipe stocks bring together companies with a visible plan for the years ahead. Safari Industries (India), Mahindra and Mahindra and Ratnamani Metals and Tubes cover a luggage brand, a utility vehicles and tractors maker and a stainless steel pipes maker.
This list covers three luggage, utility vehicle and steel pipe stocks with complete current figures: Safari Industries (India), Mahindra and Mahindra and Ratnamani Metals and Tubes. Every figure comes from the latest reported financials and the 9 November 2026 market close. Companies without complete current figures were left out.
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What Are Luggage, Utility Vehicle and Steel Pipe Stocks?
Luggage, utility vehicle and steel pipe stocks are listed companies that sell suitcases, backpacks and travel gear, build utility vehicles, tractors and commercial vehicles, and produce stainless steel and carbon steel pipes for process industries. Their earnings depend on travel spending, vehicle and tractor sales and plant investment.
Luggage, Utility Vehicle and Steel Pipe Stocks at a Glance
| Company | CMP (Rs) | Market Cap (Rs Cr) | P/E | Industry P/E | ROE (%) | D/E |
|---|---|---|---|---|---|---|
| Safari Industries (India) | 1,246.3 | 6,495 | 39.4 | 36.4 | 15.1 | 0.10 |
| Mahindra and Mahindra | 3,267.8 | 354,157 | 17.5 | 23.4 | 18.4 | 1.44 |
| Ratnamani Metals and Tubes | 2,411.6 | 17,569 | 34.2 | 44.4 | 11.7 | 0.08 |
On valuation, Mahindra and Mahindra and Ratnamani Metals and Tubes trade at a P/E below the industry P/E, while Safari Industries (India) trades above it, which reflects the growth the market already expects. Readers comparing luggage, utility vehicle and steel pipe stocks should look at return on equity and debt together, since a high return earned with low debt is easier to sustain. With the Q2 FY27 results season close, investors in luggage, utility vehicle and steel pipe stocks can use the coming numbers to test whether growth is holding.
Why Do Luggage, Utility Vehicle and Steel Pipe Stocks Have a Strong Roadmap in India?
Luggage, utility vehicle and steel pipe stocks have a strong roadmap in India because rising travel, steady demand for utility vehicles and tractors and heavy investment in oil, gas and power projects keep widening the market for these companies.
- Luggage. More families travel with branded gear.
- Utility vehicles. Buyers prefer rugged multi use vehicles.
- Steel pipes. Process plants need high grade piping.
Why Safari Industries (India) Features Among These Luggage, Utility Vehicle and Steel Pipe Stocks
Among the luggage, utility vehicle and steel pipe stocks on this list, Safari Industries (India) makes hard luggage and soft luggage, including trolley bags and backpacks, and sells through retail stores, online channels and distributors.
Revenue rose from Rs 713 crore in FY22 to Rs 2,072 crore in FY26, a compound annual growth rate of 30.6%. Net profit grew from Rs 22.4 crore in FY22 to Rs 168 crore in FY26, which works out to a compound annual growth rate of 65.5%.
In the June 2026 quarter, revenue grew 11.6% year on year to Rs 596 crore. The company has a return on equity of 15.1%, a debt to equity ratio of 0.10 and a market capitalisation of Rs 6,495 crore. The stock trades at a P/E of 39.4, above the industry P/E of 36.4.
Roadmap: Rising travel, a shift to branded luggage and capacity additions support its sales. The company’s push for a premium range and wider retail reach adds to demand, and a bigger plant network supports growth.
What to watch: Follow travel demand trends and the pace of capacity ramp-up.
Why Mahindra and Mahindra Features Among These Luggage, Utility Vehicle and Steel Pipe Stocks
Among the travel gear, tractor and tube shares on this list, Mahindra and Mahindra is a leading maker of utility vehicles, tractors and commercial vehicles in India, and it also has businesses in farm services, logistics and renewable energy.
In the June 2026 quarter, revenue grew 27.5% year on year to Rs 59,204 crore, while net profit rose 37.0% to Rs 5,998 crore. Revenue rose from Rs 91,105 crore in FY22 to Rs 202,084 crore in FY26, a compound annual growth rate of 22.0%.
Net profit grew from Rs 7,253 crore in FY22 to Rs 18,622 crore in FY26, which works out to a compound annual growth rate of 26.6%. The company has a return on equity of 18.4%, a debt to equity ratio of 1.44 and a market capitalisation of Rs 354,157 crore. The stock trades at a P/E of 17.5, below the industry P/E of 23.4.
Roadmap: The company is launching new utility and electric vehicle platforms while its tractor business benefits from farm mechanisation. A strong brand in rural and semi-urban India supports volumes.
What to watch: Track utility vehicle bookings, tractor demand and progress on new electric platforms.
Why Ratnamani Metals and Tubes Features Among These Luggage, Utility Vehicle and Steel Pipe Stocks
Among the three companies on this list, Ratnamani Metals and Tubes makes stainless steel and carbon steel pipes and tubes for oil and gas, power, chemicals, fertilisers and nuclear applications, selling in India and overseas.
The company has a return on equity of 11.7%, a debt to equity ratio of 0.08 and a market capitalisation of Rs 17,569 crore. The stock trades at a P/E of 34.2, below the industry P/E of 44.4.
Revenue rose from Rs 3,176 crore in FY22 to Rs 4,616 crore in FY26, a compound annual growth rate of 9.8%. Net profit grew from Rs 323 crore in FY22 to Rs 534 crore in FY26, which works out to a compound annual growth rate of 13.4%.
Roadmap: The company is a specialist in demanding tube applications and holds a strong order book across energy and process industries. Capacity additions in welded pipes and a growing export presence extend its reach.
What to watch: Check the size of the order book and its execution through the year.
Safari Industries (India) vs Mahindra and Mahindra vs Ratnamani Metals and Tubes on Key Financials
The table below sets the three luggage, utility vehicle and steel pipe stocks side by side on revenue, profit and margin, using reported figures.
| Company | FY22 Revenue (Rs Cr) | FY26 Revenue (Rs Cr) | Revenue CAGR (FY22-FY26) | FY26 Net Profit (Rs Cr) | FY26 Net Margin |
|---|---|---|---|---|---|
| Safari Industries (India) | 713 | 2,072 | 30.6% | 168 | 8.1% |
| Mahindra and Mahindra | 91,105 | 202,084 | 22.0% | 18,622 | 9.2% |
| Ratnamani Metals and Tubes | 3,176 | 4,616 | 9.8% | 534 | 11.6% |
Mahindra and Mahindra posts the highest return on equity in this group at 18.4%. Mahindra and Mahindra has the largest FY26 revenue at Rs 202,084 crore, and Safari Industries (India) shows the fastest revenue growth with a 30.6% compound annual rate. A useful habit with luggage, utility vehicle and steel pipe stocks is to check each new quarterly result against the capacity plans the company described earlier.
Key Risks to Check Before Investing in Luggage, Utility Vehicle and Steel Pipe Stocks
Every theme carries risks that deserve a check before any decision. For these luggage, utility vehicle and steel pipe stocks, the main points are: Long-term travel gear, tractor and tube shares holders usually track revenue growth, margins and cash flow side by side rather than relying on a single ratio.
- Consumer spending. Sales follow festivals, incomes and consumer mood.
- Production cycles. Vehicle output can vary with demand.
- Valuation levels. Some of these companies trade at high earnings multiples, so growth must continue to justify them.
Treat this list as a starting point for research and not as a recommendation. Read the latest results presentation, check the management commentary on order books or capacity plans, and compare each company with its peers before you decide anything.
Use the Univest Stock Screener to filter luggage, utility vehicle and steel pipe stocks by market capitalisation, P/E, ROE and growth, and build your own shortlist.
Final Thoughts on Luggage, Utility Vehicle and Steel Pipe Stocks
Luggage, utility vehicle and steel pipe stocks suit investors who prefer to study business strength before price moves. Safari Industries (India), Mahindra and Mahindra and Ratnamani Metals and Tubes each have a clear plan to grow. Based on the 9 November 2026 close, Safari Industries (India) trades at Rs 1,246.3, Mahindra and Mahindra at Rs 3,267.8 and Ratnamani Metals and Tubes at Rs 2,411.6. Valuation matters as much as growth, so compare each company’s P/E with its industry P/E before adding any of these luggage, utility vehicle and steel pipe stocks to a watchlist.
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Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
What are luggage, utility vehicle and steel pipe stocks?
Ans. Luggage, utility vehicle and steel pipe stocks are listed companies that sell suitcases, backpacks and travel gear, build utility vehicles, tractors and commercial vehicles, and produce stainless steel and carbon steel pipes for process industries. Their earnings depend on travel spending, vehicle and tractor sales and plant investment. This list looks at three of them, Safari Industries (India), Mahindra and Mahindra and Ratnamani Metals and Tubes, using reported FY22 to FY26 financials and the 9 November 2026 closing prices.
Which luggage, utility vehicle and steel pipe stocks are covered in this list?
Ans. This list covers Safari Industries (India), Mahindra and Mahindra and Ratnamani Metals and Tubes. Based on the 9 November 2026 close, Safari Industries (India) traded at Rs 1,246.3, Mahindra and Mahindra at Rs 3,267.8 and Ratnamani Metals and Tubes at Rs 2,411.6. Their return on equity ranges from 11.7% to 18.4%, and their revenue compound annual growth from FY22 to FY26 ranges from 9.8% to 30.6%.
Why do luggage, utility vehicle and steel pipe stocks have a strong future roadmap in India?
Ans. Luggage, utility vehicle and steel pipe stocks have a strong roadmap in India because rising travel, steady demand for utility vehicles and tractors and heavy investment in oil, gas and power projects keep widening the market for these companies. The main drivers are as follows. Luggage. More families travel with branded gear. Utility vehicles. Buyers prefer rugged multi use vehicles. Steel pipes. Process plants need high grade piping. Together these factors give the companies on this list a visible path for growth over the coming years.
How has Safari Industries (India) performed financially?
Ans. Revenue rose from Rs 713 crore in FY22 to Rs 2,072 crore in FY26, a compound annual growth rate of 30.6%. Net profit grew from Rs 22.4 crore in FY22 to Rs 168 crore in FY26, which works out to a compound annual growth rate of 65.5%. In the June 2026 quarter, revenue grew 11.6% year on year to Rs 596 crore. The company has a return on equity of 15.1%, a debt to equity ratio of 0.10 and a market capitalisation of Rs 6,495 crore. The stock trades at a P/E of 39.4, above the industry P/E of 36.4. Looking ahead, rising travel, a shift to branded luggage and capacity additions support its sales. The company’s push for a premium range and wider retail reach adds to demand, and a bigger plant network supports growth.
How has Mahindra and Mahindra performed financially?
Ans. Revenue rose from Rs 91,105 crore in FY22 to Rs 202,084 crore in FY26, a compound annual growth rate of 22.0%. Net profit grew from Rs 7,253 crore in FY22 to Rs 18,622 crore in FY26, which works out to a compound annual growth rate of 26.6%. In the June 2026 quarter, revenue grew 27.5% year on year to Rs 59,204 crore, while net profit rose 37.0% to Rs 5,998 crore. The company has a return on equity of 18.4%, a debt to equity ratio of 1.44 and a market capitalisation of Rs 354,157 crore. The stock trades at a P/E of 17.5, below the industry P/E of 23.4. Looking ahead, the company is launching new utility and electric vehicle platforms while its tractor business benefits from farm mechanisation. A strong brand in rural and semi-urban India supports volumes.
How has Ratnamani Metals and Tubes performed financially?
Ans. Revenue rose from Rs 3,176 crore in FY22 to Rs 4,616 crore in FY26, a compound annual growth rate of 9.8%. Net profit grew from Rs 323 crore in FY22 to Rs 534 crore in FY26, which works out to a compound annual growth rate of 13.4%. The company has a return on equity of 11.7%, a debt to equity ratio of 0.08 and a market capitalisation of Rs 17,569 crore. The stock trades at a P/E of 34.2, below the industry P/E of 44.4. Looking ahead, the company is a specialist in demanding tube applications and holds a strong order book across energy and process industries. Capacity additions in welded pipes and a growing export presence extend its reach.
What risks should investors check before buying luggage, utility vehicle and steel pipe stocks?
Ans. Investors should check a few risks before buying luggage, utility vehicle and steel pipe stocks. Consumer spending. Sales follow festivals, incomes and consumer mood. Production cycles. Vehicle output can vary with demand. Valuation levels. Some of these companies trade at high earnings multiples, so growth must continue to justify them. Reading the latest results presentation and comparing each company with its peers helps judge how these risks apply to each stock.
Is this list of luggage, utility vehicle and steel pipe stocks investment advice?
Ans. No. This article is educational and uses publicly available data as of the 9 November 2026 close. Please verify figures on NSE and BSE, read company filings and consult a SEBI registered adviser before investing. Univest is SEBI registered research analyst INH000013776.
