Owns and licenses a recorded-music catalogue, earning primarily through streaming, downloads, and film soundtracks. Revenue splits between Audio Product Sales (music monetised on digital platforms like YouTube) and Film Distribution/Production Income (soundtracks tied to Hindi films); segment data for the period ending 2021-12-31 showed Audio Product Sales at 60.4% of segment revenue and Film Distribution at 39.6%. The business has tilted heavily digital — about 75% of FY26 revenue came from digital channels — and the catalogue spans 38,000+ songs. FY26 revenue was ₹375.5 cr at an EBITDA margin of 78.4%, with employee cost at 5.4% of revenue, other opex at 21.1%, depreciation at 0.7%, and capex at just 1.7%, making it a largely asset-light, IP-driven model. Content acquisition is the principal cost — budgeted at ₹90–100 cr for FY27 — and the business held ₹345 cr of cash and investments as of June 2026. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Audio Product Sales/Income (60%), Film Distribution/Production Income (40%). Asset-light, IP-driven music licensing; high EBITDA margin (78.4% in FY26).
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 136 | 187 | 242 | 311 | 376 |
| EBITDA (ex other income) | 86 | 102 | 158 | 207 | 276 |
| margin % | 63.6 | 54.6 | 65.6 | 66.5 | 73.4 |
| Owners' profit | 65 | 77 | 127 | 167 | 217 |
| EPS, as reported (₹) | 99.56 | 5.91 | 19.80 | 0.00 | 16.96 |
| ROE % · ROCE % | 63.0 · 65.3 | 56.2 · 76.0 | 70.8 · 66.9 | 79.5 · 97.1 | 83.4 · 110.2 |
| Debt / equity (x) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash from operations | 29 | 82 | 233 | 120 | 197 |
| Capex | (0) | (1) | (3) | (2) | (6) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 81 | 78 | 78 | 88 | 89 | 94 | 104 | 107 |
| Profit before tax | 64 | 59 | 41 | 62 | 72 | 79 | 80 | 58 |
| Net profit | 48 | 44 | 31 | 46 | 53 | 59 | 59 | 44 |
| EPS (₹) | 3.77 | 3.46 | 0.00 | 3.59 | 4.16 | 4.59 | 4.62 | 3.42 |
| 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 |
| 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 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 11 Sept 2026 · Tips Music buys back 39,143 shares at average INR 660.20 | corporate actions | medium | — | — |
| 10 Sept 2026 · Tips Music buys back 38,069 shares at average price of INR 651.79 | corporate actions | medium | — | — |
| 9 Sept 2026 · Corrigendum to buyback public announcement filed | corporate actions | high | — | — |
| 7 Sept 2026 · Tips Music schedules one-on-one investor meeting on September 15 | board shareholder meetings | low | — | — |
| 4 Sept 2026 · Tips Music buyback approved, up to INR 44.5 crores at max INR 750 per share | corporate actions | high | — | — |
| 4 Sept 2026 · Buyback of equity shares up to Rs 750 per share, total Rs 44.5 crore | corporate actions | high | — | — |
| 2 Sept 2026 · TIPS Music 30th AGM: All 5 resolutions passed, including buyback approval | board shareholder meetings | low | — | — |
| 31 Aug 2026 · 30th AGM concludes; 3 interim dividends, buyback and RPT with Tips Films approved | board shareholder meetings | medium | — | — |
| 31 Aug 2026 · 30th AGM held; buyback and related party deals among items approved | board shareholder meetings | low | — | — |
| 30 Aug 2026 · Tips Music schedules virtual analyst/investor meeting on Sept 2 | board shareholder meetings | low | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) |
| 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) | 39.3 | 26.0 | 4 of 5 | 25% |
| P/B | 32.5 | 0.8 | 11 of 11 | 0% |
| ROCE | 110.1 | (2.8) | 2 of 13 | 92% |
| ROE | 83.4 | (1.2) | 1 of 13 | 100% |
| Debt / Equity | 0.0 | 0.0 | 3 of 13 | 58% |
| EBITDA margin | 55.7 | 12.4 | 2 of 13 | 92% |
| Revenue growth | 20.9 | (2.8) | 4 of 11 | 70% |
| Profit growth | (4.7) | 56.4 | 8 of 12 | 36% |
| Market cap | 8441 | 211 | 2 of 13 | 92% |
| 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.
