SAREGAMAMedia Entertainment & Publication

Saregama India Limited

Media & Entertainment · ISIN INE979A01025 · BSE 532163 · NSE EQ · FV ₹1
Last price
₹489
+0.55%today
What this company does

Saregama India Limited operates in Media & Entertainment, part of the Media Entertainment & Publication sector. It booked ₹264 cr of revenue in its latest quarter (Q1 FY27) and kept 19.6% of sales as profit. It is the 2nd largest of 9 Media & Entertainment companies we track, by market value.

The Company is engaged in the business of manufacturing and sale of Music storage device viz.
In the report:
60out of 100
Equitytale Health Score
Mixed

Healthier than 60% of listed companies we score, on all six measures of filed financials. Each measure is ranked against the 1,201–2,858 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
45

At close. Not part of the score.

Profitability & returns62

How much profit it earns on the money it employs

Balance sheet77

How much it owes, and whether earnings cover the interest

Cash quality48

Whether reported profit actually arrives as cash

Growth & consistency58

Whether sales and profit have grown, and how steadily

Valuation21

What today's price implies, against our models or its peers

Governance & risk100

How much of the promoters' stake is pledged, and how much they hold · highest in its sector on what we could measure

Is this company doing well?
not investment advice
Strengths
Makes a profit
Strong 20% net margin
Sales up 27% vs last year
Profit up 41% vs last year
Promoters hold 61%
No promoter shares pledged
Virtually debt-free
Turns profit into real cash
Watch-outs
None flagged from our data

What if I invest in SAREGAMA?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 10% a year, it would become
₹20.15 lakh

The starting rate is a round number, not a view on this company — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹489 +0.55%
latest close · 2026-09-17
52-wk low ₹34887 sessions so far52-wk high ₹575
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio45.5High
LowAverageHigh
P/B ratio5.57High
Below bookModerateHigh
EV / EBITDA24.3High
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity12.2%Fair
WeakFairStrong ▸15%
Return on capital16.3%Strong
WeakFairStrong
Net margin19.6%Strong
ThinDecentStrong
EBITDA margin37.0%Healthy
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.04Comfortable
LowModerateHigh ▸1
Interest cover34.1×Strong
RiskyOkayStrong ▸5×
Current ratio1.75Healthy
Tight ◂1HealthyAmple
More figures
Market cap
₹9,433 cr
Book value
₹88
EPS
₹2.69
latest quarter
Net debt
₹42 cr
owes more than its cash
Enterprise value
₹9,475 cr
EBITDA
₹390 cr
annualised
EBIT
₹296 cr
annualised
Operating margin
28.0%
Return on assets
8.9%
Earnings yield
2.20%
P/S
8.95
Sales / share
₹54.7
Tax rate
26.0%
Face value
₹1
Shares
19.3 cr
Working capital
₹382 cr
Current assets
₹893 cr
Current liabilities
₹510 cr
Delivery %
44.0%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-09-17.

Worth vs price · from the FY 2024 report & filings
not investment advice
Hard to value confidentlyLow confidence
The market price is far above what these earnings- and book-based models support — a fast-growing or asset-light business can trade well above them for years, so we won't put a confident number on how overpriced it is.
Models span ₹78₹90, midpoint ₹84

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q1 FY27 (consolidated)
Revenue from Operations₹264 cr
Other Income₹4 cr
Total Income₹268 cr
Cost of Materials₹0 cr
Purchases of Stock-in-Trade₹0 cr
Employee Benefit Expense₹27 cr
Finance Costs₹2 cr
Depreciation & Amortisation₹24 cr
Other Expenses₹143 cr
Total Expenses₹196 cr
Profit before Tax₹72 cr
Tax Expense₹19 cr
Share of JV / Associates₹-1 cr
Net Profit₹52 cr
Net margin on total income19.4%
Where the money goes · Q1 FY27
% of total income
Employee benefit expense₹27 cr10.3%
Finance costs₹2 cr0.8%
Depreciation & amortisation₹24 cr8.9%
Other expenses₹143 cr53.6%
Tax expense₹19 cr7.0%
Profit for the period₹52 cr19.5%
Total income ₹268 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue260 cr287 cr264 cr
Total income268 cr297 cr268 cr
Expenses191 cr192 cr196 cr
Profit before tax70 cr103 cr72 cr
Tax18 cr29 cr19 cr
Net profit (owners' share)51 cr75 cr52 cr
Net margin (owners' share, on revenue)19.7%26.2%19.6%
EPS (₹)2.673.862.69
YoY (latest quarter): total income +21.2% · net profit +40.6%
Balance sheet & cash flow · as of Mar 2026
Debt-free
Total assets
₹2,322 cr
Shareholder equity
₹1,693 cr
parent shareholders
Total debt
₹70 cr
Cash
₹28 cr
Cash flow · H1 FY26
Operating
₹26 cr
Investing
₹-66 cr
Financing
₹-4 cr
Peer comparison
Media & Entertainment · by market value
CompanyPriceMarket capP/E
Prime Focus Limited₹335₹26,009 cr
Saregama India Limitedthis company₹489₹9,433 cr45.5
Tips Music Limited₹657₹8,393 cr48.0
Network18 Media & Investments Limited₹26₹4,049 cr
Balaji Telefilms Limited₹96₹1,170 cr13.0
Entertainment Network (India) Limited₹101₹481 cr
Shemaroo Entertainment Limited₹116₹332 cr
Music Broadcast Limited₹6₹209 cr5.6
Next Mediaworks Limited₹4₹26 cr0.1
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
0.92%
trailing 12 months
Dividend / share (TTM)
₹4.5
Last dividend
₹4.5
ex 11 Nov 2025
ActionDetailEx-date
Dividend₹4.5 / share11 Nov 2025
Dividend₹4.5 / share14 Feb 2025
Dividend₹4 / share21 Feb 2024
Dividend₹3 / share2 Feb 2023
Stock splitStock Split From Rs.10/- to Rs.1/-26 Apr 2022
Dividend₹30 / share31 Jan 2022
Who owns it · 2026-06-30
No pledge
Promoter
60.8%
FII / Foreign
11.5%
DII / Domestic
8.6%
Retail / others
18.6%
Promoter stake up 1.8% over the last 12 quarters.
Smart-money activity
Insider trades
SoldRashna Pochkhanawala · Employees/Designated Employees8,000 · ₹2.6 cr4 Aug 21
BoughtRashna Pochkhanawala · Employees/Designated Employees8,000 · ₹33.3 L3 Aug 21
BoughtVikram Mehra · Director54,000 · ₹2.2 cr15 Jul 21
Bulk / block deals
short · NSE108 Sep 26
short · NSE213 Sep 26
short · NSE20023 Jun 26
Stake changes
BoughtComposure Services Private Limited along with PAC · promoter→ 59.65% · 38.67 L26 Mar 25
SoldWhite Oak Capital Management Consultants LLP on behalf of Funds/ SMA Managed/ Advised→ 3.81% · 38.60 L10 Oct 24
BoughtWhite Oak Capital Management Consultants LLP→ 6.16% · 8.64 L10 Nov 21
What shareholders were asked to approve
1 proposal passed only on promoter votes

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Yearly shareholder meeting · 15 Sep 2026
See the official result
1
To receive, consider and adopt: a)the Audited Standalone Financial Statements of the Company for the Financial Year ended 31st March, 2026 together with the Reports of the Board of Directors and Statutory Auditors thereon and, b)the Audited Consolidated Financial Statements of the Company for the Financial Year ended 31st March, 2026 and the Report of Statutory Auditors thereon.
Backed by 100% of shareholders other than promotersneeded 50%
2.87 cr votes for, 818 against · 0% of mutual funds and other big investors said no
2
To note and confirm the Interim Dividend declared and paid for the Financial Year ended 31st March 2026.
Backed by 100% of shareholders other than promotersneeded 50%
2.87 cr votes for, 121 against · 0% of mutual funds and other big investors said no
3
To appoint a director in place of Mr. Vikram Mehra (DIN: 03556680), who retires by rotation and being eligible, offers himself for re-appointment
Backed by 100% of shareholders other than promotersneeded 50%
2.86 cr votes for, 1.05 L against · 0% of mutual funds and other big investors said no
4
Ratification of remuneration payable to Cost Auditors for the Financial Year ended on 31st March, 2027
Backed by 100% of shareholders other than promotersneeded 50%
2.87 cr votes for, 818 against · 0% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 5 named members
owning 60.8% between them · as of 2026-06-30
Composure Services Private Limited55.28%
Quest Capital Markets Limited4.85%
Stel Holdings Limited0.44%
Sarala Real Estate Limited0.26%
Digidrive Distributors Limitedno shares
Business done with them
FY2025 · 1 of the group
The company paid ₹47 cr to companies in the promoter group last year — about 4.0% of its ₹1,171 cr revenue.
COMPOSURE SERVICES PRIVATE LIMITED
Other payments to them · Dividend paid- Rs. 4,718.98 (in lakhs)
also owns 55.28% of the company
₹47 cr
company paid

The company also transacted with 2 other related parties — subsidiaries, joint ventures, directors and others — that we could not match by name to the promoter list above. Some may still be connected to the family; we only count the ones the filings let us match with certainty.

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

Money it raised, and what it did with it

When a company raises money from investors, it has to say up front what the money is for. The rules then make it report, every three months until the money is gone, how much of each of those things it has actually paid for — so a promise made while asking for the money can be checked afterwards.

₹8 cr raised in Nov 2021 by selling shares to large investors

As of Jun 2026, the company says it has spent 88% of what it set aside, leaving ₹91.3 L still to be spent.

To facilitate and meet its requirements of additional fund mainly for acquisition of content - music across multiple Indian languages, inorganic growth through acquisition to plug gaps in the content lineup and also for general corporate purpose including but not limited to pursuing new business opportunities, acquisitions, meeting the issue expenses etc. as stated in the Placement Document dated 10th November, 2021
88%
₹7 cr of ₹8 cr
Spent by quarter: 48%49%56%58%87%88% (to Jun 2026)

Every figure above is taken from the statement the company files with the stock exchange each quarter, for as long as money it has raised remains unspent. The only thing we work out is how much of each stated purpose has been paid for — one number divided by another from the same filing. Whether a plan that changed was a good change is not something a filing can tell you. See the filing

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.