Saregama India Ltd

Saregama India Ltd

₹ 533 -0.53%
22 May 9:33 a.m.
About

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]

Key Points

Market Position
The company is India’s only entertainment company with IP offerings across media channels (music, films, web series, short-format, and TV serials), delivery platforms (digital and physical), and business models (licensing, advertising, and retail). [1] It owns ~50% of all the music ever recorded in India. [2]

  • Market Cap 10,282 Cr.
  • Current Price 533
  • High / Low 689 / 403
  • Stock P/E 50.6
  • Book Value 81.6
  • Dividend Yield 0.84 %
  • ROCE 18.0 %
  • ROE 13.4 %
  • Face Value 1.00

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company is expected to give good quarter
  • Company has been maintaining a healthy dividend payout of 37.6%
  • Debtor days have improved from 64.6 to 45.4 days.
  • Company's median sales growth is 18.1% of last 10 years
  • Company's working capital requirements have reduced from 103 days to 73.2 days

Cons

  • Company has a low return on equity of 13.5% over last 3 years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025
177 148 164 182 202 162 171 187 238 173 213 407 216
125 96 108 119 156 112 109 124 159 122 149 325 143
Operating Profit 52 52 56 63 45 50 62 63 80 51 64 82 73
OPM % 29% 35% 34% 35% 23% 31% 36% 34% 33% 29% 30% 20% 34%
17 10 12 15 17 17 13 14 14 11 12 15 18
Interest 1 1 1 1 2 1 0 1 1 0 0 0 0
Depreciation 4 4 4 6 6 7 8 9 10 12 12 14 15
Profit before tax 63 56 62 71 54 59 66 67 83 51 63 83 75
Tax % 25% 25% 25% 25% 27% 27% 26% 26% 26% 27% 23% 26% 26%
47 42 46 53 39 43 49 49 62 37 49 61 56
EPS in Rs 2.44 2.16 2.40 2.75 2.04 2.24 2.53 2.54 3.20 1.93 2.54 3.18 2.88
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
168 182 215 208 346 524 500 434 568 695 759 1,009
142 164 200 200 312 492 435 309 382 479 504 739
Operating Profit 26 18 15 8 34 32 65 125 186 216 255 270
OPM % 15% 10% 7% 4% 10% 6% 13% 29% 33% 31% 34% 27%
-3 4 0 16 14 60 11 29 33 53 58 56
Interest 3 1 0 2 3 7 7 3 5 6 3 1
Depreciation 3 5 5 4 4 3 4 5 13 21 34 53
Profit before tax 17 15 10 17 41 82 66 145 202 243 275 272
Tax % 30% -2% 23% 42% 26% 37% 26% 26% 26% 26% 26% 25%
12 16 8 10 31 52 49 107 150 180 203 203
EPS in Rs 0.69 0.90 0.43 0.57 1.75 2.98 2.82 6.15 7.79 9.35 10.52 10.53
Dividend Payout % 22% 17% 35% 26% 17% 10% 5% 33% 38% 32% 38% 43%
Compounded Sales Growth
10 Years: 19%
5 Years: 15%
3 Years: 21%
TTM: 33%
Compounded Profit Growth
10 Years: 27%
5 Years: 33%
3 Years: 11%
TTM: 0%
Stock Price CAGR
10 Years: 42%
5 Years: 82%
3 Years: 10%
1 Year: 31%
Return on Equity
10 Years: 14%
5 Years: 15%
3 Years: 14%
Last Year: 13%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Equity Capital 17 17 17 17 17 17 17 17 19 19 19 19
Reserves 158 169 173 324 365 409 396 492 1,353 1,313 1,443 1,556
7 4 0 0 13 61 7 1 1 1 0 0
57 64 82 127 169 205 199 264 298 351 375 449
Total Liabilities 239 255 273 468 564 692 619 775 1,672 1,684 1,838 2,024
89 83 84 198 197 215 219 226 278 338 408 532
CWIP 0 0 0 0 0 0 0 2 2 4 6 0
Investments 50 48 48 123 139 137 80 135 670 228 368 420
100 124 141 147 229 340 320 412 723 1,114 1,057 1,073
Total Assets 239 255 273 468 564 692 619 775 1,672 1,684 1,838 2,024

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
24 2 29 -8 -7 -23 85 187 96 94 103 339
-14 -1 -1 3 -11 -20 -10 -138 -632 -153 -8 -214
-10 -6 -8 -3 9 38 -72 -47 677 -75 -83 -96
Net Cash Flow -1 -5 20 -8 -9 -5 2 3 141 -134 12 29

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Debtor Days 85 116 84 97 82 79 80 75 69 79 69 45
Inventory Days 1,012 268 311 405
Days Payable 813 160 129 120
Cash Conversion Cycle 85 116 84 97 82 79 80 274 177 261 353 45
Working Capital Days 54 93 35 74 89 128 115 40 87 105 131 73
ROCE % 16% 10% 10% 7% 12% 20% 16% 32% 22% 17% 20% 18%

Shareholding Pattern

Numbers in percentages

1 Recently
Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025
58.49% 58.49% 58.49% 58.49% 58.83% 59.09% 59.09% 59.09% 59.22% 59.38% 59.50% 59.65%
17.30% 17.24% 17.47% 17.70% 17.79% 17.12% 16.81% 16.05% 17.22% 17.29% 15.70% 16.45%
2.67% 2.66% 2.65% 2.43% 2.27% 2.38% 2.62% 2.58% 3.22% 4.00% 4.68% 4.63%
21.44% 21.47% 21.23% 21.13% 20.86% 21.15% 21.22% 22.00% 20.07% 19.08% 19.90% 18.97%
0.10% 0.11% 0.15% 0.24% 0.24% 0.26% 0.26% 0.26% 0.26% 0.24% 0.24% 0.30%
No. of Shareholders 60,75363,53063,53664,67169,38172,90377,33872,43362,69865,62973,23272,846

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

Documents

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