Owns and licenses a music catalogue of over 1,80,000 songs and produces new film and non-film music, earning revenue from streaming platforms, radio, films, and advertising. The Music segment contributed 82.9% of segment revenue (₹679.96 crore) at a 54.0% EBIT margin in FY26; management groups music licensing, artist management (300+ artists, 400 Mn+ digital followers) and music retail under this vertical, which totalled ₹814 crore in FY26 at 22% YoY EBITDA growth. The Video segment (10.9% of segment revenue, ₹89.59 crore) runs through subsidiary Pocket Aces Pictures (95.76% holding, FY25-26 turnover ₹142.18 crore), which operates digital brands Filter Copy, Dice Media, Nutshell and Gobble; Pocket Aces reached breakeven in FY26. The Events segment (6.2%, ₹51.09 crore) ran an EBIT loss and includes the newly launched UN40 music festival (12,000 footfalls, 8 sponsors in season 1). A strategic investment in Bhansali Productions secures Hindi film music rights for 24-30 months, and the company guides ₹300-350 crore of new content spend in FY27. Costs are dominated by other operating expenses (54.7% of revenue) and employee costs (11.1%); capital expenditure was 21.7% of revenue. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Music (83%), Video (11%), Events (6%). Asset-light, content-driven media business with a long-tail music catalogue and growing digital/live verticals
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 581 | 737 | 803 | 1,171 | 985 |
| EBITDA (ex other income) | 187 | 221 | 247 | 282 | 329 |
| margin % | 32.2 | 30.0 | 30.7 | 24.1 | 33.4 |
| Owners' profit | 153 | 185 | 198 | 204 | 207 |
| EPS, as reported (₹) | 8.43 | 9.63 | 10.27 | 10.62 | 10.73 |
| ROE % · ROCE % | 11.1 · 14.5 | 13.8 · 18.2 | 13.4 · 15.8 | 12.9 · 16.8 | 12.2 · 16.0 |
| Debt / equity (x) | 0.00 | 0.00 | 0.00 | 0.00 | 0.04 |
| Cash from operations | 94 | 93 | 93 | 331 | 100 |
| Capex | (73) | (103) | (92) | (162) | (214) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 242 | 483 | 241 | 207 | 230 | 260 | 287 | 264 |
| Profit before tax | 59 | 84 | 82 | 51 | 60 | 70 | 103 | 72 |
| Net profit | 45 | 62 | 60 | 37 | 44 | 51 | 74 | 52 |
| EPS (₹) | 2.33 | 3.24 | 3.11 | 1.90 | 2.28 | 2.67 | 3.86 | 2.69 |
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Music | 684 | 69.4 |
| Artist Management | 131 | 13.3 |
| Video | 108 | 11.0 |
| Events | 62 | 6.3 |
| Total, before eliminations | 985 | 100.0 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| SAREGAMA INDIA LIMITED ◆ | 9,738 | 43.9 | 5.74 | 26.4 | 12.2 | 15.7 | 17.4 | 37.0 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 2 Sept 2026 · Saregama to participate in investor roadshow in UAE on Sept 8-9 | board shareholder meetings | low | — | — |
| 25 Aug 2026 · Saregama 79th AGM notice published, e-voting details shared | compliance | minimal | — | — |
| 24 Aug 2026 · Saregama files BRSR for FY26 covering ESG performance and sustainability goals | general | medium | — | — |
| 24 Aug 2026 · Saregama 79th AGM notice for FY 2025-26 set for 15 September 2026 | board shareholder meetings | low | — | — |
| 24 Aug 2026 · Notice of 79th AGM and Annual Report web link for FY 2025-26 | compliance | minimal | — | — |
| 24 Aug 2026 · Notice of 79th AGM and Integrated Annual Report for FY 2025-26 | board shareholder meetings | medium | — | — |
| 14 Aug 2026 · Saregama 79th AGM Notice Published; Meeting on 15 Sep 2026 via Video Conferencing | compliance | minimal | — | — |
| 12 Aug 2026 · Saregama announces leadership succession at Pocket Aces subsidiary | compliance | low | — | — |
| 11 Aug 2026 · Saregama Q1FY27: revenue up 27%, EBITDA up 69%, transcript filed | investor communications | medium | — | — |
| 11 Aug 2026 · Saregama to participate in EMKAY Confluence 2026 Investor Conference | board shareholder meetings | low | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) |
| TIPS MUSIC LIMITED |
| 8,441 |
| 39.3 |
| 32.47 |
| — |
| 83.4 |
| 110.1 |
| — |
| 55.7 |
| NETWORK18 MEDIA & INV LTD | 4,109 | — | 0.82 | 38.0 | 3.1 | (2.8) | (14.7) | 2.3 |
| BALAJI TELEFILMS LIMITED. | 1,101 | — | 1.77 | — | (8.0) | (10.2) | (6.4) | 12.4 |
| ENTERTAIN NET. IND. LTD. | 482 | — | 0.63 | 6.5 | (1.0) | (3.4) | 15.7 | 15.4 |
| SHEMAROO ENTER. LTD. | 342 | — | 1.28 | — | (81.6) | (106.4) | 13.4 | (0.9) |
| MUSIC BROADCAST LIMITED | 211 | — | 0.47 | — | (12.0) | (11.8) | — | 38.4 |
| GRADIENTE INFOTAINMENT L | 84 | 18.0 | 0.27 | — | 0.9 | 1.3 | — | 10.9 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 43.9 | 26.0 | 5 of 5 | 0% |
| P/B | 5.7 | 0.8 | 10 of 11 | 10% |
| ROCE | 15.7 | (2.8) | 4 of 13 | 75% |
| ROE | 12.2 | (1.2) | 3 of 13 | 83% |
| Debt / Equity | 0.0 | 0.0 | 10 of 13 | 25% |
| EBITDA margin | 37.0 | 12.4 | 4 of 13 | 75% |
| Revenue growth | 27.5 | (2.8) | 3 of 11 | 80% |
| Profit growth | 42.1 | 56.4 | 7 of 12 | 46% |
| Market cap | 9738 | 211 | 1 of 13 | 100% |
| A state: the latest filed quarter and the measured reactions |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
