Loading…
Owns India's oldest music catalogue (HMV heritage) and monetizes it via streaming, films, and the Carvaan retro-radio device.
Owns India's oldest music catalogue (HMV heritage) and monetizes it via streaming, films, and the Carvaan retro-radio device.
Music licensing carries the business: streaming apps, caller-tune services and broadcasters pay to use its catalogue. Carvaan, a pre-loaded retro music player, brought in hardware sales, while film and series production is a smaller side. Part of the RP-Sanjiv Goenka Group.
In one line: India's Sony Music plus a retro radio maker.
Moat: wide (IP / patents, installed base). Owns one of the largest and oldest Indian music catalogues, an irreplaceable back catalog.
Headquarters: Kolkata, India · Founded: 1946 · Employees: 383
Size Saregama India (SAREGAMA.NS) is an India Communication Services company (Movies/Entertainment) with a market value of $1.26B, the 533rd largest of 1,058 India companies the cockpit tracks. Shares closed at ₹619.65 on 6 Nov 2026.
Performance Over six months the shares gained 77.1%, against +8.1% for the median peer and 0.0% for the India market (cap-weighted) — 2nd highest of 21 in its peer set.
Growth Revenue fell 3.0% over the last twelve months (peer median +5.4%); the operating margin is 28.0% (peer median 10.0%).
Valuation It trades at 46.6× forward earnings against a peer median of 18.0× (most expensive of 15).
Capital Return on invested capital runs 1.3 points below its cost of capital (16.1% WACC).
Next results Next results expected around 21 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹11.3B | ₹9.85B | ₹11.7B | ₹8.03B | ₹7.37B |
| Revenue growth | — | -16% | +46% | +9% | — |
| Gross profit | ₹5.55B | ₹4.73B | ₹4.60B | ₹4.39B | ₹4.13B |
| EBITDA | ₹4.08B | ₹3.42B | ₹2.82B | ₹2.54B | ₹2.24B |
| Net income | ₹2.42B | ₹2.07B | ₹2.04B | ₹1.98B | ₹1.85B |
| Free cash flow | n/a | -₹787M | ₹2.12B | ₹548M | ₹35.7M |
| Capital expenditure | n/a | ₹2.14B | ₹1.62B | ₹923M | ₹1.03B |
| Total debt | ₹102M | ₹726M | ₹27.1M | ₹54.3M | ₹7.12M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | SAREGAMA.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +23.0% | +7.1% | 4th highest of 21 |
| 6-month return | +77.1% | +8.1% | 2nd highest of 21 |
| Distance from 52-week high | -7.7% | -23.8% | 7th highest of 21 |
| Revenue growth (TTM) | -3.0% | +5.4% | 7th lowest of 21 |
| Operating margin | 28.0% | 10.0% | 2nd highest of 21 |
| Forward P/E | 46.6× | 18.0× | most expensive of 15 |
| ROIC minus cost of capital | -1.3 pp | -1.0 pp | 9th lowest of 20 |
| EV / EBITDA | 28.6× | 8.9× | 2nd most expensive of 16 |
| Net debt / EBITDA | -0.6× | 2.7× | 4th least indebted of 17 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Saregama India SAREGAMA.NS | India | $1.26B | +77% | -3% | 28% | 46.6× | n/a | n/a |
| SM ENTERTAINMENT 041510.KS | South Korea | $1.31B | -19% | +10% | 14% | 15.5× | -9.1% | +15.2% |
| Heiwa 6412.T | Japan | $1.32B | +16% | +47% | 16% | 10.2× | 4.1% | +19.1% |
| Bona Film 001330.SZ | China | $1.17B | -25% | -29% | -34% | n/a | 24.0% | -4.9% |
| Compagnie des Alpes CDA.PA | France | $1.11B | -11% | +8% | 13% | 8.1× | 2.6% | +17.8% |
| Cultural Investment 600715.SS | China | $1.43B | +15% | -27% | -44% | n/a | n/a | n/a |
| Accel Entertainment ACEL | United States | $1.10B | +18% | +9% | 8% | 15.6× | 0.8% | +33.3% |
| Tabcorp TAH.AX | Australia | $1.45B | +28% | 0% | 9% | 28.6× | 5.5% | +0.1% |
| Tips Music TIPSMUSIC.NS | India | $1.04B | +20% | +27% | 67% | 39.6× | 36.6% | +32.9% |
| CA Cultural Technology 1566.HK | Hong Kong | $1.03B | +9,743% | -2% | 7% | n/a | n/a | n/a |
| Shochiku 9601.T | Japan | $1.03B | +14% | +4% | 5% | 44.1× | 13.5% | +13.4% |
| Six Flags Entertainment FUN | United States | $1.02B | -55% | -3% | 11% | n/a | 5.4% | +76.4% |
| JYP Entertainment 035900.KS | South Korea | $1.01B | -34% | +15% | 18% | 13.6× | -17.4% | +41.6% |
| Hengdian Entertainment 603103.SS | China | $1.62B | -18% | -27% | -10% | n/a | 36.1% | +18.3% |
| PVR Inox PVRINOX.NS | India | $1.63B | +47% | +14% | 16% | 28.7× | 15.7% | +88.3% |
| SJM 0880.HK | Hong Kong | $974M | -49% | -16% | 6% | n/a | n/a | n/a |
| ZEAL Network TIMA.DE | Germany | $969M | -18% | +12% | 27% | 20.3× | -7.5% | +20.2% |
| Damai Entertainment 1060.HK | Hong Kong | $1.74B | -25% | +22% | 6% | 13.9× | -9.1% | +22.0% |
| EVT EVT.AX | Australia | $1.78B | +39% | +7% | 9% | 35.0× | 21.0% | +18.0% |
| Fuji Kyuko 9010.T | Japan | $887M | +17% | +2% | 16% | 23.9× | 5.0% | +11.9% |
| United Parks & Resorts PRKS | United States | $1.81B | +2% | -4% | 21% | 11.4× | 0.2% | +30.9% |