SAREGAMA

Saregama India Limited

Music IP owner and licensor of film and non-film music across various formats

Consumer Discretionary›Media, Entertainment & Publication›Entertainment›Media & Entertainment

saregama.com(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹504.00
Market cap
9,717 Cr
Stock P/E
43.8
P/B
5.74
Dividend yield
0.9%
ROE (FY26)
12.2%
ROCE (FY26)
16.4%
Operating margin (FY26)
25.9%
Debt / equity (FY26)
0.04
OCF / EBITDA (FY26)
29.7%
OCF / EBITDA (3Y)
61.0%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

Saregama (Saregama India) is a Kolkata-based music company that licenses its catalogue of film and non-film songs to streaming platforms and brands, and sells directly to listeners through Carvaan players, vinyl records and live events.

Company snapshot

2ndBy market cap

Ranked among 13 companies in Media & Entertainment.

Segment mix

Reportable segments as of 2024-12-31 (Consolidated). Revenue share = segment revenue ÷ total revenue.

Largest segment: 49.1% of revenue

SegmentRevenue shareRevenuePBTAssets
Artist Management
5.4%
50 Cr2 Cr—
Events
30.1%
280 Cr21 Cr—
Music
49.1%
457 Cr201 Cr—
Video
15.3%
143 Cr-4 Cr—

What we see

Positives
  • ✓Net margin of 20.9% — the business keeps a healthy share of every rupee it earns.
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Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales172 Cr204 Cr263 Cr205 Cr242 Cr483 Cr241 Cr207 Cr230 Cr260 Cr287 Cr264 Cr
Operating expenses (approx.)111 Cr139 Cr193 Cr154 Cr181 Cr399 Cr161 Cr151 Cr161 Cr169 Cr166 Cr170 Cr
EBITDA61 Cr66 Cr70 Cr51 Cr61 Cr84 Cr80 Cr55 Cr69 Cr92 Cr121 Cr93 Cr
OPM %35.3%32.1%26.6%25.1%25.2%17.5%33.4%26.7%29.9%35.2%42.1%35.4%
Other income13 Cr15 Cr18 Cr12 Cr13 Cr16 Cr18 Cr14 Cr11 Cr7 Cr9 Cr4 Cr
Interest0.22 Cr1 Cr0.37 Cr0.21 Cr0.43 Cr0.39 Cr5 Cr0.98 Cr1 Cr1 Cr2 Cr2 Cr
Depreciation8 Cr9 Cr12 Cr13 Cr14 Cr15 Cr17 Cr17 Cr19 Cr21 Cr24 Cr24 Cr
Profit before tax66 Cr70 Cr76 Cr51 Cr59 Cr84 Cr82 Cr51 Cr60 Cr70 Cr103 Cr71 Cr
Tax %26.8%25.3%29.1%26.8%24.2%26.2%26.7%28.5%27.1%26.3%28.3%26.4%
Net profit48 Cr52 Cr54 Cr37 Cr45 Cr62 Cr60 Cr37 Cr44 Cr51 Cr74 Cr52 Cr
EPS (₹)₹2.50₹2.72₹2.80₹1.92₹2.33₹3.24₹3.11₹1.90₹2.28₹2.67₹3.86₹2.69

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales218 Cr357 Cr545 Cr521 Cr442 Cr581 Cr737 Cr803 Cr1,171 Cr985 CrSign in free for the trailing twelve months
Operating expenses (approx.)209 Cr320 Cr507 Cr461 Cr312 Cr394 Cr516 Cr556 Cr894 Cr648 CrSign in free for the trailing twelve months
EBITDA9 Cr36 Cr38 Cr60 Cr130 Cr187 Cr221 Cr247 Cr277 Cr337 CrSign in free for the trailing twelve months
OPM %4.3%10.2%7.0%11.6%29.4%32.2%30.0%30.7%23.6%34.2%Sign in free for the trailing twelve months
Other income13 Cr10 Cr56 Cr11 Cr31 Cr35 Cr54 Cr64 Cr58 Cr42 CrSign in free for the trailing twelve months
Interest2 Cr3 Cr7 Cr7 Cr3 Cr5 Cr6 Cr3 Cr6 Cr5 CrSign in free for the trailing twelve months
Depreciation4 Cr4 Cr3 Cr5 Cr6 Cr13 Cr21 Cr36 Cr58 Cr82 CrSign in free for the trailing twelve months
Profit before tax16 Cr39 Cr85 Cr60 Cr152 Cr204 Cr248 Cr271 Cr276 Cr284 CrSign in free for the trailing twelve months
Tax %45.7%27.3%35.8%27.9%25.3%25.3%25.4%27.0%26.0%27.4%Sign in free for the trailing twelve months
Net profit9 Cr28 Cr54 Cr44 Cr113 Cr153 Cr185 Cr198 Cr204 Cr206 CrSign in free for the trailing twelve months
EPS (₹)₹4.97₹16.26₹31.20₹25.29₹65.61₹8.43₹9.63₹10.27₹10.62₹10.73Sign in free for the trailing twelve months
Dividend payout %————33.0%37.9%31.3%39.0%42.5%42.1%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital17 Cr17 Cr17 Cr17 Cr17 Cr19 Cr19 Cr19 Cr19 Cr19 Cr
Reserves322 Cr364 Cr411 Cr381 Cr488 Cr1,358 Cr1,323 Cr1,450 Cr1,564 Cr1,673 Cr
Borrowings3 Cr16 Cr64 Cr9 Cr———2 Cr—70 Cr
Other liabilities134 Cr179 Cr214 Cr209 Cr275 Cr307 Cr359 Cr560 Cr508 Cr556 Cr
Total liabilities480 Cr578 Cr709 Cr620 Cr784 Cr1,688 Cr1,704 Cr2,034 Cr2,095 Cr2,322 Cr
Fixed assets (net)190 Cr188 Cr206 Cr205 Cr205 Cr215 Cr221 Cr224 Cr222 Cr222 Cr
CWIP——0 Cr0 Cr0 Cr2 Cr0 Cr0 Cr0 Cr0 Cr
Investments132 Cr151 Cr151 Cr78 Cr139 Cr678 Cr241 Cr120 Cr113 Cr381 Cr
Loans & advances——0.16 Cr0.31 Cr12 Cr23 Cr26 Cr22 Cr19 Cr19 Cr
Inventories10 Cr49 Cr96 Cr94 Cr69 Cr105 Cr164 Cr239 Cr240 Cr243 Cr
Trade receivables52 Cr73 Cr110 Cr108 Cr87 Cr108 Cr148 Cr159 Cr143 Cr177 Cr
Cash & bank19 Cr9 Cr5 Cr7 Cr11 Cr153 Cr17 Cr57 Cr69 Cr28 Cr
Other assets77 Cr108 Cr141 Cr127 Cr261 Cr404 Cr887 Cr1,213 Cr1,288 Cr1,252 Cr
Total assets480 Cr578 Cr709 Cr620 Cr784 Cr1,688 Cr1,704 Cr2,034 Cr2,095 Cr2,322 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity-4 Cr-19 Cr-36 Cr80 Cr190 Cr94 Cr93 Cr93 Cr331 Cr100 Cr
Cash from investing0.46 Cr-0.23 Cr-6 Cr-5 Cr-136 Cr-630 Cr-148 Cr17 Cr-221 Cr-110 Cr
Cash from financing-3 Cr9 Cr38 Cr-72 Cr-49 Cr677 Cr-83 Cr-70 Cr-99 Cr-31 Cr
Net cash flow-7 Cr-10 Cr-4 Cr2 Cr4 Cr142 Cr-136 Cr40 Cr12 Cr-41 Cr
Free cash flow (OCF − Capex)-6 Cr-21 Cr-48 Cr71 Cr168 Cr22 Cr-10 Cr0.98 Cr170 Cr-114 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %5.3%10.6%18.5%16.3%30.5%15.1%18.9%18.6%17.8%16.4%
ROE %2.5%7.4%12.6%11.0%22.1%11.1%13.8%13.4%12.9%12.2%
Debtor days87757376726873724565
Inventory days579166158319119666811097590
Days payable2153136931989734035424058
Cash conversion cycle-1487104139197295931201388097
OCF / EBITDA %-38.3%-51.3%-93.6%131.5%145.8%50.5%42.3%37.8%119.6%29.7%
OCF / EBITDA % (3 years)——-69.1%18.7%102.1%96.3%70.2%42.9%69.6%61.0%
Debt / equity0.00870.040.150.02———0.00110.000.04
Current ratio1.571.491.561.881.975.014.074.122.871.75
Net debt / EBITDA-1.70—1.540.04-0.09-0.82-0.08-0.22-0.250.13