TIPSMUSIC

Tips Music Limited

Music IP and licensing company with film and independent music catalogue

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

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

Price as of 2026-10-16

Stock price
₹746.90
Market cap
9,498 Cr
Stock P/E
41.8
P/B
29.29
Dividend yield
1.7%
ROE (FY26)
83.4%
ROCE (FY26)
112.4%
Operating margin (FY26)
72.8%
OCF / EBITDA (FY26)
71.4%
OCF / EBITDA (3Y)
85.8%

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

Tips Music licenses a catalogue of about 34,000 Indian songs to streaming platforms, YouTube and other users, and earns its revenue from that catalogue and from new releases.

Company snapshot

3rdBy market cap

Ranked among 13 companies in Media & Entertainment.

Segment mix

Reportable segments as of 2021-12-31 (Standalone). Revenue share = segment revenue ÷ total revenue.

Largest segment: 101.5% of revenue

SegmentRevenue shareRevenuePBTAssets
Audio Product Sales/ Income
101.5%
45 Cr28 Cr112 Cr
Film Distribution/ Production Income
1.1%
0.49 Cr-2 Cr93 Cr

Shares add up to 103% because segment revenues are before inter-segment eliminations.

What we see

Positives
  • ✓Net margin of 57.7% — the business keeps a healthy share of every rupee it earns.
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Statement tables · Standalone

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

Standalone only

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricDec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026Sept 2026
Sales65 Cr63 Cr74 Cr81 Cr78 Cr78 Cr88 Cr89 Cr94 Cr104 Cr107 Cr120 Cr
Operating expenses (approx.)21 Cr33 Cr20 Cr21 Cr22 Cr41 Cr32 Cr21 Cr20 Cr27 Cr53 Cr35 Cr
EBITDA43 Cr30 Cr54 Cr59 Cr56 Cr37 Cr57 Cr68 Cr75 Cr77 Cr54 Cr85 Cr
OPM %67.0%47.7%73.6%73.8%71.6%47.5%64.2%76.0%79.0%74.0%50.3%70.5%
Other income3 Cr5 Cr5 Cr6 Cr4 Cr5 Cr6 Cr5 Cr5 Cr4 Cr6 Cr4 Cr
Interest0.07 Cr0.08 Cr0.09 Cr0.08 Cr0.07 Cr0.07 Cr0.06 Cr0.05 Cr0.05 Cr0.04 Cr0.10 Cr0.10 Cr
Depreciation0.44 Cr0.50 Cr0.55 Cr0.55 Cr0.55 Cr0.55 Cr0.62 Cr0.62 Cr0.65 Cr0.61 Cr0.96 Cr0.97 Cr
Profit before tax46 Cr35 Cr58 Cr64 Cr59 Cr41 Cr62 Cr72 Cr79 Cr80 Cr58 Cr88 Cr
Tax %25.2%26.2%25.3%25.3%25.2%25.9%25.5%25.8%25.4%26.2%25.0%25.3%
Net profit35 Cr26 Cr44 Cr48 Cr44 Cr31 Cr46 Cr53 Cr59 Cr59 Cr44 Cr66 Cr
EPS (₹)₹2.70₹2.01₹3.40₹3.77₹3.46₹2.39₹3.59₹4.16₹4.59₹4.62₹3.42₹5.15

Profit & loss (annual)

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

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales47 Cr47 Cr203 Cr91 Cr91 Cr136 Cr187 Cr242 Cr311 Cr376 CrSign in free for the trailing twelve months
Operating expenses (approx.)50 Cr38 Cr197 Cr93 Cr35 Cr49 Cr85 Cr83 Cr104 Cr100 CrSign in free for the trailing twelve months
EBITDA-3 Cr10 Cr6 Cr-2 Cr55 Cr86 Cr102 Cr158 Cr207 Cr276 CrSign in free for the trailing twelve months
OPM %-7.2%20.2%3.1%-2.2%60.9%63.6%54.6%65.6%66.5%73.4%Sign in free for the trailing twelve months
Other income19 Cr2 Cr4 Cr18 Cr5 Cr3 Cr5 Cr14 Cr19 Cr19 CrSign in free for the trailing twelve months
Interest10 Cr7 Cr2 Cr0.28 Cr0.02 Cr0.07 Cr0.29 Cr0.35 Cr0.30 Cr0.20 CrSign in free for the trailing twelve months
Depreciation1 Cr1 Cr1 Cr1 Cr0.81 Cr0.75 Cr1 Cr2 Cr2 Cr3 CrSign in free for the trailing twelve months
Profit before tax4 Cr4 Cr7 Cr14 Cr59 Cr89 Cr106 Cr171 Cr223 Cr292 CrSign in free for the trailing twelve months
Tax %30.7%21.8%60.9%21.0%26.6%27.2%27.6%25.4%25.4%25.7%Sign in free for the trailing twelve months
Net profit3 Cr3 Cr3 Cr11 Cr43 Cr65 Cr77 Cr127 Cr167 Cr217 CrSign in free for the trailing twelve months
EPS (₹)₹2.08₹2.19₹1.99₹7.92₹32.72₹49.78₹5.91₹9.90₹13.02₹16.96Sign in free for the trailing twelve months
Dividend payout %————4.5%4.0%3.4%65.6%53.7%76.7%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 capital14 Cr14 Cr14 Cr14 Cr13 Cr13 Cr13 Cr13 Cr13 Cr13 Cr
Reserves54 Cr55 Cr56 Cr66 Cr88 Cr89 Cr123 Cr167 Cr197 Cr247 Cr
Borrowings49 Cr19 Cr8 Cr2 Cr——————
Other liabilities18 Cr114 Cr15 Cr8 Cr47 Cr44 Cr57 Cr159 Cr130 Cr102 Cr
Total liabilities135 Cr202 Cr95 Cr90 Cr148 Cr147 Cr193 Cr339 Cr339 Cr362 Cr
Fixed assets (net)3 Cr2 Cr2 Cr2 Cr2 Cr6 Cr5 Cr8 Cr6 Cr14 Cr
CWIP———0 Cr0 Cr0 Cr0 Cr0.02 Cr0.73 Cr—
Investments0.23 Cr0.12 Cr13 Cr18 Cr31 Cr4 Cr13 Cr91 Cr96 Cr150 Cr
Loans & advances——0 Cr0 Cr0 Cr0.23 Cr3 Cr3 Cr0.08 Cr0.19 Cr
Inventories75 Cr57 Cr29 Cr0 Cr0 Cr0 Cr0 Cr0 Cr0 Cr0 Cr
Trade receivables6 Cr9 Cr11 Cr18 Cr15 Cr18 Cr20 Cr26 Cr12 Cr34 Cr
Cash & bank0.78 Cr6 Cr9 Cr26 Cr31 Cr22 Cr11 Cr49 Cr41 Cr7 Cr
Other assets51 Cr129 Cr31 Cr26 Cr69 Cr97 Cr140 Cr162 Cr184 Cr156 Cr
Total assets135 Cr202 Cr95 Cr90 Cr148 Cr147 Cr193 Cr339 Cr339 Cr362 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 activity33 Cr43 Cr25 Cr31 Cr41 Cr29 Cr82 Cr233 Cr120 Cr197 Cr
Cash from investing0.34 Cr0.26 Cr9 Cr-5 Cr-11 Cr-27 Cr-49 Cr-111 Cr11 Cr-63 Cr
Cash from financing-34 Cr-39 Cr-31 Cr-9 Cr-25 Cr-3 Cr-43 Cr-85 Cr-139 Cr-168 Cr
Net cash flow-0.80 Cr5 Cr3 Cr17 Cr5 Cr-0.59 Cr-11 Cr37 Cr-8 Cr-34 Cr
Free cash flow (OCF − Capex)33 Cr43 Cr24 Cr30 Cr40 Cr29 Cr82 Cr230 Cr119 Cr191 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %12.4%12.0%12.0%17.8%58.5%86.6%77.8%95.2%106.7%112.4%
ROE %4.4%4.5%4.0%14.1%42.9%63.0%56.2%70.8%79.5%83.4%
Debtor days46691973614840401433
Inventory days580440510000000
Days payable1136217251131222313
Cash conversion cycle61547368563537818-920
OCF / EBITDA %—452.0%396.8%—74.7%34.0%80.7%147.0%58.2%71.4%
OCF / EBITDA % (3 years)——813.8%712.5%162.7%72.5%62.8%99.4%93.2%85.8%
Debt / equity0.720.270.120.02——————
Current ratio5.461.365.2112.3415.5411.783.093.302.753.15
Net debt / EBITDA—1.37-0.04—-0.56-0.26-0.11-0.31-0.20-0.03