Saregama India Ltd

Saregama India Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Saregama India Ltd

₹ 408 -2.69%
11 Nov - close price
saregama.com BSE: 532163 NSE: SAREGAMA
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]

Website BSE NSE
  • Market Cap ₹ 7,864 Cr.
  • Current Price ₹ 408
  • High / Low ₹ 604 / 402
  • Stock P/E 39.5
  • Book Value ₹ 86.1
  • Dividend Yield 1.10 %
  • ROCE 17.2 %
  • ROE 12.5 %
  • Face Value ₹ 1.00
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Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 37.6%
  • Debtor days have improved from 63.4 to 44.6 days.
  • Company's median sales growth is 18.8% of last 10 years
  • Company's working capital requirements have reduced from 86.2 days to 40.3 days

Cons

  • Company has a low return on equity of 13.0% 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.

Peer comparison

Consumer Discretionary Media, Entertainment & Publication Entertainment Media & Entertainment

Part of Nifty 500 BSE SmallCap Nifty Media BSE Allcap BSE Consumer Discretionary

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025
185 182 204 163 172 204 263 205 242 483 241 207 230
128 119 154 113 111 139 193 154 181 399 160 151 161
Operating Profit 57 63 49 50 61 66 70 51 61 84 80 55 69
OPM % 31% 35% 24% 31% 35% 32% 27% 25% 25% 17% 33% 27% 30%
11 15 17 18 13 15 18 12 13 16 23 14 11
Interest 1 1 2 1 0 1 0 0 0 0 5 1 1
Depreciation 4 6 6 7 8 9 12 13 14 15 17 17 19
Profit before tax 63 71 58 59 66 70 76 51 59 84 82 51 60
Tax % 25% 26% 25% 27% 27% 25% 29% 27% 24% 26% 27% 28% 27%
47 53 44 43 48 52 54 37 45 62 60 37 44
EPS in Rs 2.41 2.76 2.27 2.25 2.49 2.71 2.79 1.91 2.33 3.23 3.12 1.90 2.27
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
177 187 222 218 357 545 521 442 576 737 803 1,171 1,161
160 184 209 209 320 507 461 312 377 516 554 894 872
Operating Profit 17 2 13 9 36 38 60 130 199 221 249 277 289
OPM % 10% 1% 6% 4% 10% 7% 12% 29% 35% 30% 31% 24% 25%
11 11 2 13 10 56 11 31 23 54 61 63 64
Interest 3 1 0 2 3 7 7 3 5 6 3 6 7
Depreciation 3 6 5 4 4 3 5 6 13 21 36 58 68
Profit before tax 22 6 9 16 39 85 60 152 204 248 271 276 277
Tax % 23% -5% 25% 46% 27% 36% 28% 25% 25% 25% 27% 26%
17 6 7 9 28 54 44 113 153 185 198 204 203
EPS in Rs 1.09 0.39 0.39 0.48 1.64 3.11 2.53 6.47 7.91 9.60 10.24 10.58 10.52
Dividend Payout % 14% 39% 38% 31% 18% 10% 6% 31% 38% 31% 39% 42%
Compounded Sales Growth
10 Years: 20%
5 Years: 18%
3 Years: 27%
TTM: 27%
Compounded Profit Growth
10 Years: 38%
5 Years: 34%
3 Years: 8%
TTM: 6%
Stock Price CAGR
10 Years: 28%
5 Years: 40%
3 Years: 3%
1 Year: -15%
Return on Equity
10 Years: 13%
5 Years: 15%
3 Years: 13%
Last Year: 13%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Sep 2025
Equity Capital 17 17 17 17 17 17 17 17 19 19 19 19 19
Reserves 148 150 157 322 364 411 381 488 1,358 1,323 1,450 1,564 1,642
13 8 4 3 16 64 10 1 1 1 5 3 3
65 72 89 137 181 217 211 277 309 361 559 509 596
Total Liabilities 244 247 267 480 578 709 620 784 1,688 1,704 2,034 2,095 2,260
102 84 85 199 197 215 219 226 278 338 742 835 964
CWIP 0 0 0 0 0 0 0 2 2 4 6 0 0
Investments 40 40 40 132 151 148 75 137 676 239 118 111 176
101 124 143 149 230 345 325 420 732 1,124 1,168 1,149 1,120
Total Assets 244 247 267 480 578 709 620 784 1,688 1,704 2,034 2,095 2,260

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
27 3 32 -4 -19 -36 79 190 94 93 93 331
-4 -1 -4 0 0 -6 -5 -136 -630 -154 32 -220
-25 -6 -8 -3 9 38 -72 -49 677 -75 -85 -99
Net Cash Flow -2 -4 20 -7 -10 -4 2 4 142 -136 40 12

Ratios

Consolidated Figures in Rs. Crores / View Standalone

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 77 106 76 87 75 74 76 72 68 73 72 45
Inventory Days 1,030 270 266 376 161
Days Payable 838 165 114 147 86
Cash Conversion Cycle 77 106 76 87 75 74 76 264 173 226 302 120
Working Capital Days 23 62 17 55 61 77 98 35 83 98 121 40
ROCE % 14% 4% 11% 7% 11% 20% 15% 34% 23% 19% 18% 17%

Shareholding Pattern

Numbers in percentages

Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
58.49% 58.49% 58.83% 59.09% 59.09% 59.09% 59.22% 59.38% 59.50% 59.65% 59.65% 59.65%
17.47% 17.70% 17.79% 17.12% 16.81% 16.05% 17.22% 17.29% 15.70% 16.45% 16.68% 16.82%
2.65% 2.43% 2.27% 2.38% 2.62% 2.58% 3.22% 4.00% 4.68% 4.63% 5.23% 5.16%
21.23% 21.13% 20.86% 21.15% 21.22% 22.00% 20.07% 19.08% 19.90% 18.97% 18.11% 18.04%
0.15% 0.24% 0.24% 0.26% 0.26% 0.26% 0.26% 0.24% 0.24% 0.30% 0.34% 0.34%
No. of Shareholders 63,53664,67169,38172,90377,33872,43362,69865,62973,23272,84670,28171,427

* 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.

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