Saregama India Ltd
NSE:SAREGAMA

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Saregama India Ltd Logo
Saregama India Ltd
NSE:SAREGAMA
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Price: 355.9 INR 2.64%
Market Cap: ₹68.3B

EV/EBITDA

21.2
Current
30%
Cheaper
vs 3-y average of 30.1

Enterprise Value to EBITDA (EV/EBITDA) ratio compares a company`s total enterprise value to its earnings before interest, taxes, depreciation, and amortization. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBITDA
21.2
=
Enterprise Value
₹56.7B
/
EBITDA
₹2.9B

Enterprise Value to EBITDA (EV/EBITDA) ratio compares a company`s total enterprise value to its earnings before interest, taxes, depreciation, and amortization. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBITDA
21.2
=
Enterprise Value
₹56.7B
/
EBITDA
₹2.9B

Valuation Scenarios

Saregama India Ltd is trading below its 3-year average

If EV/EBITDA returns to its 3-Year Average (30.1), the stock would be worth ₹505.25 (42% upside from current price).

Statistics
Positive Scenarios
2/4
Maximum Downside
-33%
Maximum Upside
+49%
Average Upside
10%
Scenario EV/EBITDA Value Implied Price Upside/Downside
Current Multiple 21.2 ₹355.9
0%
3-Year Average 30.1 ₹505.25
+42%
5-Year Average 31.5 ₹530.08
+49%
Industry Average 14.2 ₹238.28
-33%
Country Average 17.7 ₹296.81
-17%

Forward EV/EBITDA
Today’s price vs future ebitda

Today's Enterprise Value EBITDA Forward EV/EBITDA
₹56.7B
/
Jan 2026
₹2.9B
=
21.2
Current
₹56.7B
/
Mar 2026
₹3B
=
19
Forward
₹56.7B
/
Mar 2027
₹3.5B
=
16
Forward
₹56.7B
/
Mar 2028
₹4.1B
=
13.8
Forward

Forward EV/EBITDA shows whether today’s EV/EBITDA still looks high or low once future ebitda are taken into account.

Peer Comparison

All Multiples
EV/EBITDA
P/E
All Countries
Close
Market Cap EV/EBITDA P/E
IN
Saregama India Ltd
NSE:SAREGAMA
66.6B INR 21.2 35.7
US
Netflix Inc
NASDAQ:NFLX
389.2B USD 12.5 29.1
US
Walt Disney Co
NYSE:DIS
185B USD 11.3 15.1
LU
Spotify Technology SA
NYSE:SPOT
106.6B USD 35.5 40.9
US
Warner Bros Discovery Inc
NASDAQ:WBD
67.1B USD 5 92.3
NL
Universal Music Group NV
AEX:UMG
36.6B EUR 15.9 23.9
US
TKO Group Holdings Inc
NYSE:TKO
36.2B USD 25.6 158.1
US
Live Nation Entertainment Inc
NYSE:LYV
36.9B USD 19.9 -668.8
US
Roku Inc
NASDAQ:ROKU
17B USD 221.9 193.2
FR
Bollore SE
PAR:BOL
14.8B EUR -47.7 42.6
US
Warner Music Group Corp
NASDAQ:WMG
15.1B USD 13.4 50.5
EV/EBITDA Multiple
EBITDA Growth EV/EBITDA to Growth
IN
Saregama India Ltd
NSE:SAREGAMA
Average EV/EBITDA: 38.2
21.2
10%
2.1
US
Netflix Inc
NASDAQ:NFLX
12.5
-7%
N/A
US
Walt Disney Co
NYSE:DIS
11.3
11%
1
LU
Spotify Technology SA
NYSE:SPOT
35.5
30%
1.2
US
Warner Bros Discovery Inc
NASDAQ:WBD
5
-23%
N/A
NL
Universal Music Group NV
AEX:UMG
15.9
14%
1.1
US
TKO Group Holdings Inc
NYSE:TKO
25.6
22%
1.2
US
Live Nation Entertainment Inc
NYSE:LYV
19.9
21%
0.9
US
Roku Inc
NASDAQ:ROKU
221.9
147%
1.5
FR
Bollore SE
PAR:BOL
Negative Multiple: -47.7 N/A N/A
US
Warner Music Group Corp
NASDAQ:WMG
13.4
15%
0.9

Market Distribution

In line with most companies in India
Percentile
58th
Based on 2 785 companies
58th percentile
21.2
Low
0.4 — 11.9
Typical Range
11.9 — 27.8
High
27.8 —
Distribution Statistics
India
Min 0.4
30th Percentile 11.9
Median 17.7
70th Percentile 27.8
Max 47 834.4

Saregama India Ltd
Glance View

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.

SAREGAMA Intrinsic Value
257.86 INR
Overvaluation 28%
Intrinsic Value
Price ₹355.9
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