| Management target | Revenue 20.0% FY27 |
|---|
| Margins | Music EBITDA margins guided at 60-65%; Artiste Management margins currently lower (10%). |
|---|---|
| Demand visibility | Strong; 60% of music revenue from IP released post-2000. |
| Management confidence | High; bullish on subscription growth reaching 100M paying users soon. |
Growth
Music vertical grew 39% YoY to Rs. 230.6Cr; overall revenue growth of 27% with operational PBT up 38%.
Outlook
Guided 20-23% annual growth for Music vertical with 60-65% EBITDA margins; planned Rs 300-350Cr investment in new content.
Risks
Video vertical revenue declined 52% as company winds down film business; low paid-streaming penetration in India (3%).
Last quarter's promises, checked
Delivered
- Pocket Aces breakeven → Delivered breakeven (= BEAT)
- Music vertical growth H2 vs H1 → H1 8% vs H2 26% (= BEAT)
- Music EBITDA margin 60-65% → Delivered 68% (= BEAT)
Partly delivered
- New content releases → 1,200 songs delivered but major films delayed to FY27 (= PARTIAL)
Missed
- New content spend Rs 300Cr+ → Delivered Rs 235Cr (= MISS)
Earnings Call Transcript filed with NSE, NSE: SAREGAMA. Summary written with AI assistance from the document.
Saregama India Ltd: key numbers
- Share price
- ₹503.75
- Market cap
- ₹9,713 Cr
- Revenue (annual)
- ₹984.6 Cr
- Net profit (annual)
- ₹207.1 Cr
- P/E (TTM)
- 44.0×Sector 27.8×
- Promoter holding
- 60.84%+0.00% QoQ
- FII holding
- 11.50%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
More from Saregama India Ltd
All →Saregama India Annual General Meeting
Saregama India held its 79th AGM on September 15, 2026, via video conferencing. The meeting covered routine business, including the adoption of financial statements and audit resolutions.
Saregama India Annual General Meeting
Saregama India Limited has issued the notice for its 79th Annual General Meeting scheduled for September 15, 2026. The agenda includes financial statement adoption and director re-appointment.
Saregama India Other Announcement
Saregama India Limited shared the web-link for its FY 2025-26 Integrated Annual Report. The company's 79th Annual General Meeting is scheduled for September 15, 2026.
Saregama India Annual Report
Saregama India Limited has released its Integrated Annual Report for FY 2025-26. The 79th Annual General Meeting is scheduled for September 15, 2026, via video conferencing.
Saregama India Management Change
Saregama announced leadership changes at its subsidiary, Pocket Aces. Vinay Pillai is elevated to CEO, while Aditi Shrivastava transitions to a strategic board role.
Saregama India Results Update
Saregama reported Q1 FY27 revenue of ₹263.60 Crore, reflecting 27% YoY growth. Adjusted EBITDA grew 69% YoY to reach ₹112.40 Crore.
- Value
- ₹263.6 Cr