Saregama India Limited has informed the Exchange about Transcript
SAREGAMA · price
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Saregama reported Q1FY26 operating revenue of INR 206 crores and PBT of INR 51 crores, with the quarter impacted by movie release postponements, Airtel Wynk shutdown effects, and a temporary YouTube ad slowdown during the Indo-Pakistan tensions in May. The music segment grew 12% year-on-year, and management reiterated medium-term guidance of 22-23% CAGR in music and 25% in video, while maintaining company-level adjusted EBITDA guidance of 32-33%. A major highlight was the acquisition of NAV Records (6,500 Haryanvi, Punjabi and other tracks with 24 million YouTube subscribers) funded entirely through QIP money, with revenues expected to flow in from Q3. Management plans to spend INR 350-380 crores on new content this year, with big-ticket releases (Dhurandhar, Love & War, Main Tera Tu Meri, Dhanush's Idly Kadai) lined up for Q3-Q4.
Shareholders should note that Q1 weakness is largely timing-related (movies pushed to H2) and management continues to back its 20-30 year earnings narrative. The NAV Records acquisition fills a strategic gap in Haryanvi music and should support medium-term growth, though the stock could see near-term pressure on weak reported numbers before big releases in Q3-Q4.