Saregama India Ltd
BSE:532163

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Saregama India Ltd
BSE:532163
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Price: 331.65 INR -2.3% Market Closed
Market Cap: ₹63.8B

Saregama India Ltd
Investor Relations

Saregama India Ltd., an enduring giant in the music and entertainment industry, stands as a testament to the rich cultural tapestry of India. With origins tracing back to the early days of recorded sound in the country, Saregama is deeply woven into India's musical heritage. Originally known as HMV and later The Gramophone Company of India, it has since evolved to become a modern-day digital content powerhouse. At its core, Saregama curates an extensive repository of musical tracks, including iconic songs from Bollywood, classical renditions, and regional hits, which it monetizes across various platforms. By leveraging licensing agreements with streaming services, television networks, and film production houses, Saregama capitalizes on the timeless appeal of its catalogue, ensuring a steady revenue stream in a digitally driven world.

Besides its vast music archive, Saregama has diversified its business model by branching into film and television content production under its Yoodlee Films division. By producing contemporary movies that appeal to both digital and traditional audiences, the company taps into the growing demand for original content, further enhancing its market relevance. Additionally, Saregama's innovative foray into consumer products like the Carvaan series—a range of portable music players pre-loaded with classic tracks—has struck a chord with nostalgic consumers, blending modern technology with timeless music. These strategic ventures highlight Saregama’s adaptability in monetizing its intellectual property and the brand's forward-thinking approach to engage with both legacy and new-age audiences.

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Last Earnings Call
Fiscal Period
Q3 2026
Call Date
Feb 3, 2026
AI Summary
Q3 2026

Strong Music Growth: Music segment revenue grew by 29% year-on-year this quarter and 18% over the first 9 months, in line with company guidance.

Profitability: Adjusted EBITDA margin was exceptionally high at 46% for the quarter, though management maintains a medium- to long-term guidance of 32% to 33%.

Content Investment: Annual content spend is now expected at INR 275–300 crores, lower than initially planned due to delayed film releases.

Bhansali Productions Stake: Completed a minority investment in Bhansali Productions, gaining exclusive access to upcoming Hindi film music under a cost-effective structure.

Live Events: Events business remains lumpy, with profitability driven by a few large shows; management targets high single-digit margins in a steady state.

Pocket Aces Update: Pocket Aces expected to be breakeven this year and targeted to grow 25% annually going forward.

Growth Outlook: Reiterated music segment revenue growth guidance of 21%–23% medium to long term; FY guidance for music remains at 17%–18%.

Subscription Upside: Paid music subscription in India is still nascent, and any pick-up is seen as an upside beyond current guidance.

Key Financials
Operating Revenue
INR 260 crores
Operating PBT
INR 76.5 crores
Reported PBT
INR 69.45 crores
Adjusted EBITDA Margin
46%
Music Revenue Growth (quarter)
29%
Music Revenue Growth (9 months)
18%
Content Spend (annual)
INR 275–300 crores
Artists Managed
270
Other Earnings Calls

Management

Mr. Vikram Mehra
MD & Executive Director
No Bio Available
Mr. Pankaj Mahesh Chaturvedi
Chief Financial Officer
No Bio Available
Ms. Priyanka Motwani
Company Secretary & Compliance Officer
No Bio Available
Mr. Yazad Anklesaria
General Manager of IT & Technology
No Bio Available
Ms. Sonalika Johri
Vice President of HR & Administration
No Bio Available
Mr. Yash Asai
General Manager of Legal
No Bio Available
Mr. Siddharth Anand Kumar
Senior Vice President of Films, Series & Events
No Bio Available
Ms. B. R. Vijayalakshmi
Executive Vice President of South TV
No Bio Available
Ms. Aditi Shrivastava
Chief Executive Officer of Pocket Aces Pictures Private Limited
No Bio Available

Contacts

Address
MAHARASHTRA
Mumbai
2nd Floor, Spencer Building, 30 Forjett Street,Landmark-The Lane Opp., Bhatia Hospital Grant Road (West)
Contacts
+912266886200
www.saregama.com
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