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Saregama India

SAREGAMA NSE
₹636.80 No trade today
P/E
55.33
View as Markdown
MCP
Close 4 Nov 2026 ₹636.80 +210.45 +49.4% 1Y
Start ₹426.35

Key Fundamentals

MicrocapEntertainmentMedia Entertainment & Publication

Price-based figures as of · EPS basis: Consolidated · TTM

ROCE
17.30%
Debt to Equity
0.04
EPS (TTM)
₹11.51
Book Value
₹82.04
Market Cap
—
P/E (TTM)
55.33
P/B
7.76
ROE
12.70%
Dividend Yield
0.80%
EBITDA
₹379 Cr
52W High
₹652.90
52W Low
₹307.05
Volume
0

Peer Comparison

Consumer Discretionary › Media › Media & Entertainment

Saregama India peer comparison
Prime Focus
₹305.55205.07₹22,818 Cr11.390.00%15.70%11.30%₹4,919 Cr₹145 Cr
Saregama India (this company)
₹636.8055.33₹11,005 Cr7.760.80%12.70%17.30%₹1,041 Cr₹221 Cr
Tips Music
₹786.5546.85₹9,988 Cr30.850.83%87.60%118.00%₹394 Cr₹215 Cr
Network18 Media & Investments
₹26.41—₹4,039 Cr0.820.00%0.75%3.01%₹2,169 Cr−₹32 Cr
Balaji Telefilms
₹87.23—₹1,071 Cr1.700.23%−8.29%−10.10%₹378 Cr−₹22 Cr
Basilic Fly Studio
₹171.609.61₹435 Cr1.300.00%19.10%21.50%₹417 Cr₹45 Cr
Entertainment Network
₹82.82—₹398 Cr0.522.36%−0.98%−1.77%₹562 Cr−₹8 Cr
Median 7 companies₹171.6051.09₹4,039 Cr1.700.23%12.70%11.30%₹562 Cr₹45 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

54 Average

Data confidence 100/100

Category scores

Quality
49
Average
Returns, margins, earnings quality 22% weight
Valuation
34
Poor
Cheap vs sector & own history 24% weight
Growth
4
Poor
Sales & profit trajectory 9% weight
Financial Health
90
Strong
Solvency, leverage, coverage 9% weight
Momentum
98
Strong
Trend strength, vol-adjusted 12% weight
Ownership
68
Strong
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

2
  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 41.1%

Weaknesses

1
  • Company has a low return on equity of 12.5% over last 3 years.

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallStrong Bullish5212
OscillatorsStrong Bearish522
Moving AveragesStrong Bullish0010

Key readings

RSI (14)
80.50
Bearish
MACD (12,26,9)
20.23
Bullish
SMA (50)
504.38
Bullish
SMA (200)
428.56
Bullish

As of

Analyst Rating

Based on 4 analysts
BUY100%

4 of 4 analysts rate Buy, 0 Hold, 0 Sell.

As of

BUY
4
100%
HOLD
0
0%
SELL
0
0%

Growth Rate

From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
10Y+16.07%
5Y+17.38%
3Y+10.15%
1Y−15.88%
TTM−11.25%

Net profit

Net profit growth by window
10Y+40.24%
5Y+12.76%
3Y+3.65%
1Y+0.98%
TTM+8.33%

Operating cash flow

Operating cash flow growth by window
10Y+12.07%
5Y−12.05%
3Y+2.45%
1Y−69.79%
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
10Y+28.35 pp
5Y+4.80 pp
3Y+4.22 pp
1Y+10.56 pp
TTM+12.06 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2017₹218 Cr
Mar 2018₹357 Cr
Mar 2019₹545 Cr
Mar 2020₹521 Cr
Mar 2021₹442 Cr
Mar 2022₹576 Cr
Mar 2023₹737 Cr
Mar 2024₹803 Cr
Mar 2025₹1,171 Cr
Mar 2026₹985 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2017₹9.00 Cr
Mar 2018₹28.00 Cr
Mar 2019₹54.00 Cr
Mar 2020₹44.00 Cr
Mar 2021₹113 Cr
Mar 2022₹153 Cr
Mar 2023₹185 Cr
Mar 2024₹198 Cr
Mar 2025₹204 Cr
Mar 2026₹206 Cr

Analyst Forecasts

Forecast For
Sep 26 consensus · EBITDA
₹79.35 Cr −17.6% vs Jun 26
Reported High Mean Low

AI Analysis — Bull vs Bear

Generated 6 Jul 2026
AI opinion · based on fundamentals
Risk medium

Saregama India Ltd is a nearly debt-free company with a market cap of ₹9,249 Cr trading at a PE of 45.4x. While long-term profit growth has been strong at 35% CAGR over 10 years, TTM sales have declined 16% and ROE remains moderate at around 13%.

Bull Case 8
  • Company is almost debt-free, providing financial flexibility and low interest burden
  • 10-year compounded profit growth of 35% CAGR demonstrates strong long-term earnings trajectory
  • 10-year compounded sales growth of 16% CAGR reflects sustained revenue expansion over a decade
  • Healthy dividend payout ratio of 41.1% signals shareholder-friendly capital allocation
  • 5-year compounded sales growth of 17% CAGR indicates solid medium-term business momentum
  • 5-year compounded profit growth of 14% CAGR shows consistent earnings compounding
  • 10-year stock CAGR of 33% demonstrates significant long-term wealth creation for shareholders
  • TTM profit growth of 12% shows earnings resilience even as revenue contracts
Bear Case 8
  • TTM sales growth of -16% signals a sharp recent revenue decline that may indicate demand weakness or one-off headwinds
  • PE ratio of 45.4x is elevated, implying the stock prices in significant future growth that may not materialize
  • ROE of approximately 13% over 3 and 5 years is modest for a company trading at 5.92x price-to-book
  • 3-year compounded profit growth has slowed to just 5% CAGR versus 35% over 10 years, suggesting earnings growth deceleration
  • 1-year stock return of -2% indicates the market has de-rated the stock amid slowing fundamentals
  • Price-to-book ratio of 5.92x is high relative to the 12.9% trailing ROE, suggesting stretched valuation versus returns generated
  • 3-year stock CAGR of only 8% versus 10-year CAGR of 33% shows significant momentum deterioration in recent years
  • Dividend yield of 0.93% offers limited income cushion at current valuation levels

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

121d ago

TL;DR: A quiet period for Saregama India with no material positive or negative catalysts. Recent news is limited to a CFO transition, routine promoter disclosures confirming no share encumbrance, and a minor clerical filing correction. No encumbrance across promoter entities signals stable ownership structure. The lack of business-level updates means the near-term outlook hinges on upcoming quarterly results and any strategic announcements from the new CFO.

Neutral 3
  • New CFO appointed from Jul 15 Jun 24

    Abhishek Kapoor appointed as CFO effective July 15, 2026. Kuldeep Kothari serves as Interim CFO until July 14, 2026.

  • Promoter holdings with no encumbrance Jun 22

    Quest Capital (93.49 lakh shares), Sarala Real Estate (5.10 lakh shares), and STEL Holdings (8.52 lakh shares) all confirmed zero encumbrance on their Saregama holdings as of March 31, 2026.

  • FY26 XBRL filing revised for errors Jun 15

    Saregama revised its FY26 XBRL filing to correct EPS rounding and RPT disclosure errors. Changes are clerical with no impact on financial results.

Quarterly Results

₹ Cr
SAREGAMA quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
163
172
204
263
205
242
483
241
207
230
260
287
264
Expenses
113
111
139
193
154
181
399
160
151
161
169
166
171
Operating Profit
50
61
66
70
51
61
84
80
55
69
92
121
92
OPM %
31%
35%
32%
27%
25%
25%
17%
33%
27%
30%
35%
42%
35%
Other Income
18
13
15
18
12
13
16
23
14
11
0
9.15
4
Interest
1
0
1
0
0
0
0
5
1
1
1
2
2
Depreciation
7
8
9
12
13
14
15
17
17
19
21
24
24
PBT
59
66
70
76
51
59
84
82
51
60
70
103
71
Tax %
27%
27%
25%
29%
27%
24%
26%
27%
28%
27%
26%
28%
26%
Net Profit
43
48
52
54
37
45
62
60
37
44
51
74
52
EPS (₹)
2.26
2.49
2.71
2.79
1.91
2.33
3.23
3.12
1.9
2.27
2.66
3.91
2.67

Profit & Loss

₹ Cr
SAREGAMA profit and loss, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
187
222
218
357
545
521
442
576
737
803
1,171
985
1,041
Expenses
184
209
209
320
507
461
312
377
516
554
894
648
668
Operating Profit
2
13
9
36
38
60
130
199
221
249
277
337
374
OPM %
1.2%
6%
4.3%
10%
7%
12%
29%
35%
30%
31%
24%
34%
36%
Other Income
11
2
13
10
56
11
31
23
54
61
63
34
24
Interest
1
0
2
3
7
7
3
5
6
3
6
5
7
Depreciation
6
5
4
4
3
5
6
13
21
36
58
82
88
PBT
6
9
16
39
85
60
152
204
248
271
276
284
304
Tax %
−5%
25%
46%
27%
36%
28%
25%
25%
25%
27%
26%
27%
—
Net Profit
6
7
9
28
54
44
113
153
185
198
204
206
221
EPS (₹)
0.39
0.39
0.48
1.64
3.11
2.53
6.47
7.91
9.61
10.25
10.59
10.74
11.51
Div. Payout %
39%
38%
31%
18%
10%
6%
31%
38%
31%
39%
42%
42%
—

Balance Sheet

₹ Cr
SAREGAMA balance sheet, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
17
17
17
17
17
17
17
19
19
19
19
19
Reserves
150
157
322
364
411
381
488
1,358
1,323
1,450
1,564
1,673
Borrowings
8
4
3
16
64
10
1
1
1
5
3
73
Other Liabilities
72
89
137
181
217
211
277
309
361
559
509
554
Total Liabilities
247
267
480
578
709
620
784
1,688
1,704
2,034
2,095
2,319
Fixed Assets
84
85
199
197
215
219
226
278
338
742
835
1,031
CWIP
0
0
0
0
0
0
2
2
4
6
0
0
Investments
40
40
132
151
148
75
137
676
239
118
111
379
Other Assets
124
143
149
230
345
325
420
732
1,124
1,168
1,149
909
Total Assets
247
267
480
578
709
620
784
1,688
1,704
2,034
2,095
2,319

Cash Flow

₹ Cr
SAREGAMA cash flow, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
3
32
−4
−19
−36
79
190
94
93
93
331
100
Investing
−1
−4
0
0
−6
−5
−136
−630
−154
32
−220
−110
Financing
−6
−8
−3
9
38
−72
−49
677
−75
−85
−99
−31
Net Cash Flow
−4
20
−7
−10
−4
2
4
142
−136
40
12
−41
Free Cash Flow
0
25
−6
−22
−48
71
168
22
−10
1
170
−114
CFO/EBITDA
499
336
83
−24
−61
168
156
76
73
58
149
49

Ratios

SAREGAMA financial ratios, annual
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
106
76
87
75
74
76
72
68
73
72
45
66
Inventory Days
—
—
—
—
—
—
1,030
270
266
376
161
280
Days Payable
—
—
—
—
—
—
838
165
114
147
86
181
Cash Conversion Cycle
106
76
87
75
74
76
264
173
226
302
120
164
Working Capital Days
62
17
55
61
77
98
35
83
98
121
40
61
ROCE %
4%
11%
7%
11%
20%
15%
34%
23%
19%
18%
17%
17%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Saregama India insights

65 extracted metrics across FY11–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 60.84%
  • Public 12.20%
  • FIIs 11.88%
  • DIIs 9.36%
  • Others 5.73%

No promoter shares pledged as of Sep 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

Frequently Asked Questions about Saregama India

What does Saregama India Ltd do?
Saregama is the oldest music label company from India (established 1902, erstwhile "Gramophone Company of India" & then "HMV"). The company is aiming to be a pure-play content company supported by the global consumption boom.
Where is Saregama India Ltd (SAREGAMA) listed?
Saregama India Ltd trades as SAREGAMA on the NSE and under code 532163 on the BSE.
Which sector does Saregama India Ltd belong to?
Saregama India Ltd is classified under the Media sector, in the Media & Entertainment industry.
What is the PE ratio of Saregama India Ltd?
Saregama India Ltd trades at a PE ratio of 55.33 as of 4 Nov 2026, on earnings per share of ₹11.51, against a book value of ₹82.04 per share.
What is the 52-week high and low of Saregama India Ltd?
Over the last 52 weeks Saregama India Ltd has traded between ₹307.05 and ₹652.9 as of 4 Nov 2026.
Does Saregama India Ltd pay dividends?
Saregama India Ltd has a dividend yield of 0.80%.
What is the Return on Equity (ROE) of Saregama India Ltd?
Saregama India Ltd reported a return on equity of 12.70%. Its debt-to-equity ratio is 0.04.

Company Information

Saregama is the oldest music label company from India (established 1902, erstwhile "Gramophone Company of India" & then "HMV"). The company is aiming to be a pure-play content company supported by the global consumption boom. Since 2017, Saregama has been making headlines again owing to the launch of two unique initiatives, Saregama Carvaan and Yoodlee Films.

Website saregama.com
CEO Mr. Vikram Mehra
Employees 277
Listed 30 Jul 1997
Face Value ₹1

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