Saregama India Ltd
NSE: SAREGAMA BSE: 532163
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. [1] Since 2017, Saregama has been making headlines again owing to the launch of two unique initiatives, Saregama Carvaan and Yoodlee Films. [2]
₹391
52W: ₹306 — ₹603
PE 34.1 · Book ₹87.8 · +345% vs bookMarket Cap₹7,539 Cr
Stock P/E34.1Price to Earnings
ROCE18%Return on Capital
ROE13.6%Return on Equity
Div. Yield1.21%Face Value ₹1
Strengths
- +Company is almost debt free.
Weaknesses
- −Company has a low return on equity of 13.8% over last 3 years.
Shareholding Pattern
Promoters60.84%
FIIs12.18%
DIIs7.1%
Public19.42%
| Category | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters | 59.22% | 59.38%▲0.2 | 59.5%▲0.1 | 59.65%▲0.1 | 59.65% | 59.65% | 60.39%▲0.7 | 60.84%▲0.5 |
| FIIs | 17.22% | 17.29%▲0.1 | 15.7%▼1.6 | 16.45%▲0.8 | 16.68%▲0.2 | 16.82%▲0.1 | 14.18%▼2.6 | 12.18%▼2.0 |
| DIIs | 3.22% | 4%▲0.8 | 4.68%▲0.7 | 4.63%▼0.0 | 5.23%▲0.6 | 5.16%▼0.1 | 5.04%▼0.1 | 7.1%▲2.1 |
| Public | 20.07% | 19.08%▼1.0 | 19.9%▲0.8 | 18.97%▼0.9 | 18.11%▼0.9 | 18.04%▼0.1 | 19.93%▲1.9 | 19.42%▼0.5 |
Financial Statements
| Metric | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 187 | 238 | 173 | 213 | 407 | 216 | 177 | 195 | 210 | 238 |
| Expenses | 124 | 159 | 122 | 149 | 325 | 143 | 120 | 123 | 119 | 117 |
| Operating Profit | 63 | 80 | 51 | 64 | 82 | 73 | 57 | 71 | 91 | 122 |
| OPM % | 34% | 33% | 29% | 30% | 20% | 34% | 32% | 37% | 43% | 51% |
| Net Profit | 49 | 62 | 37 | 49 | 61 | 56 | 40 | 48 | 53 | 74 |
| EPS ₹ | 2.55 | 3.2 | 1.94 | 2.54 | 3.19 | 2.88 | 2.09 | 2.47 | 2.74 | 3.86 |
AI Insights
Revenue Trend
Mar 2026 revenue at ₹821Cr, down 18.6% YoY. OPM at 42%.
Debt Position
Borrowings at ₹95Cr. Debt-to-equity ratio: 0.06x. Healthy balance sheet.
Institutional Flow
DIIs: 7.1% (+4.83pp change). FIIs: 12.18% (-5.61pp change). Promoters hold 60.84%.
Margin & Efficiency
ROCE improving from 10% (Mar 2015) to 18% (Mar 2026). Working capital days: 96.
Valuation
PE 34.1x with 18% ROCE. Price is 345% above book value of ₹87.8. Dividend yield: 1.21%.
Recent Announcements
- Announcement Under Regulation 30 (LODR)-Newspaper Publication 2d - Saregama India Limited has informed about Copy of Newspaper Publication regarding special window for re-lodgement of transfer requests of physical shares
- Announcement under Regulation 30 (LODR)-Newspaper Publication 2d - Intimation of Newspaper Publication for Annual Audited Financial Results (Standalone and Consolidated) for the Quarter and financial year ended on 31st March, 2026.
- Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome 14 May - Audio link for Q4FY26 earnings conference call held on 14 May 2026 uploaded.
- Intimation With Regards To Regulation 30(5) For Change In Authorization Of Kmps For Determining The Materiality Of Any Event Or Information For The Purpose Of Making Disclosure To Stock Exchanges. 14 May - Board approved audited Q4 and FY26 results, insider code update, and KMP authorisation on 14 May 2026.
- Amendment Of The Insider Trading Prohibition Code Of The Company 14 May - Board approved FY26 audited results; consolidated profit rose to Rs 206.2 crore, standalone profit to Rs 215.1 crore.
- Financial Year 2025 from bse
- Financial Year 2024 from bse
- Financial Year 2023 from bse