Results - Analysis
Saregama India As on : 05-Aug-26  05:29

On consolidated basis

Quarter ended June 2026 compared with Quarter ended June 2025.

Net sales (including other operating income) of Saregama India has increased 27.48% to Rs 263.6 crore.  Sales of Music Business segment has gone up 28.84% to Rs 184.60 crore (accounting for 70.03% of total sales).  Sales of Events segment has gone up 214.12% to Rs 16.02 crore (accounting for 6.08% of total sales).  Sales of Artist Management segment has gone up 102.37% to Rs 46.02 crore (accounting for 17.46% of total sales).  Sales of Video segment has gone down 52.43% to Rs 16.96 crore (accounting for 6.43% of total sales).  

Profit before interest, tax and other unallocable items (PBIT) has jumped 42.32% to Rs 95.28 crore.  PBIT of Music Business segment rose 27.07% to Rs 94.87 crore (accounting for 99.57% of total PBIT).  PBIT of Events segment rose 99.64% to Rs -0.01 crore (accounting for -0.01% of total PBIT).  PBIT of Artist Management segment rose 201.27% to Rs 4.76 crore (accounting for 5.00% of total PBIT).  PBIT of Video segment rose 33.02% to Rs -4.34 crore (accounting for -4.55% of total PBIT).  

PBIT margin of Music Business segment fell from 52.11% to 51.39%.  PBIT margin of Events segment rose from negative 55.10% to negative 0.06%.  PBIT margin of Artist Management segment rose from 6.95% to 10.34%.  PBIT margin of Video segment fell from negative 18.18% to negative 25.59%.  Overall PBIT margin rose from 32.38% to 36.15%.  

Operating profit margin has jumped from 26.74% to 35.40%, leading to 68.78% rise in operating profit to Rs 93.32 crore.  Employee cost decreased from 12.15% to 10.42%.   Other expenses fell from 61.11% to 54.18%.   Selling and administration expenses fell from 14.46% to 13.10%.   Other direct service cost fell from 36.16% to 30.90%.   

Other income fell 70.41% to Rs 4.21 crore.  PBIDT rose 40.29% to Rs 97.53 crore.  Provision for interest rose 121.43% to Rs 2.17 crore.  

PBDT rose 39.13% to Rs 95.36 crore.  Provision for depreciation rose 35.16% to Rs 23.64 crore.  

Profit before tax grew 40.49% to Rs 71.72 crore.  Share of profit/loss were nil in both the periods.  Provision for tax was expense of Rs 18.63 crore, compared to Rs 14.54 crore.  Effective tax rate was 26.42% compared to 28.48%.

Net profit attributable to owners of the company increased 40.64% to Rs 51.56 crore.  

Promoters' stake was 60.84% as of 30 June 2026 ,compared to 59.65% as of 30 June 2025 .  

 

Full year results analysis.

Net sales (including other operating income) of Saregama India has declined 15.94% to Rs 984.62 crore.  Sales of Music segment has gone up 9.39% to Rs 683.51 crore (accounting for 69.42% of total sales).  Sales of Events segment has gone down 78.32% to Rs 61.83 crore (accounting for 6.28% of total sales).  Sales of Artist Management segment has gone up 88.82% to Rs 130.87 crore (accounting for 13.29% of total sales).  Sales of Video segment has gone down 43.53% to Rs 108.41 crore (accounting for 11.01% of total sales).  

Profit before interest, tax and other unallocable items (PBIT) has jumped 18.19% to Rs 371.19 crore.  PBIT of Music segment rose 24.55% to Rs 364.09 crore (accounting for 98.09% of total PBIT).  PBIT of Events reported loss of Rs 7.11 crore compared to profit of Rs 22.94 crore.  PBIT of Artist Management segment rose 365.20% to Rs 12.70 crore (accounting for 3.42% of total PBIT).  PBIT of Video reported profit of Rs 1.51 crore compared to loss of Rs 3.95 crore.  

PBIT margin of Music segment rose from 46.78% to 53.27%.  PBIT margin of Events segment fell from 8.04% to 11.50%.  PBIT margin of Artist Management segment rose from 3.94% to 9.70%.  PBIT margin of Video segment rose from negative 2.06% to 1.39%.  Overall PBIT margin rose from 26.81% to 37.70%.  

Operating profit margin has jumped from 23.65% to 34.20%, leading to 21.57% rise in operating profit to Rs 336.75 crore.  Employee cost increased from 9.18% to 11.07%.   Other expenses fell from 67.18% to 54.73%.   Selling and administration expenses fell from 13.55% to 12.65%.   Other direct service cost fell from 46.36% to 32.27%.   

Other income fell 27.21% to Rs 42.27 crore.  PBIDT rose 13.12% to Rs 379.02 crore.  Provision for interest fell 5.23% to Rs 5.44 crore.  Loan funds rose to Rs 72.58 crore as of 31 March 2026 from Rs 2.70 crore as of 31 March 2025.  Inventories rose to Rs 243.43 crore as of 31 March 2026 from Rs 240.21 crore as of 31 March 2025.  Sundry debtors were higher at Rs 176.92 crore as of 31 March 2026 compared to Rs 143.22 crore as of 31 March 2025.  Cash and bank balance declined from Rs 543.70 crore as of 31 March 2025 to Rs 149.27 crore as of 31 March 2026.  Investments rose to Rs 378.56 crore as of 31 March 2026 from Rs 111.21 crore as of 31 March 2025 .  

PBDT rose 13.44% to Rs 373.58 crore.  Provision for depreciation rose 40.10% to Rs 81.55 crore.  Fixed assets declined from Rs 226.37 crore as of 31 March 2025 to Rs 225.77 crore as of 31 March 2026.  Intangible assets increased from Rs 608.23 crore to Rs 805.43 crore.  

Profit before tax grew 7.72% to Rs 292.03 crore.  Share of profit/loss were nil in both the periods.  Provision for tax was expense of Rs 77.86 crore, compared to Rs 71.83 crore.  Effective tax rate was 27.41% compared to 26.02%.

Minority interest decreased 4,150% to Rs -0.85 crore.  Net profit attributable to owners of the company increased 1.38% to Rs 207.07 crore.  

Equity capital stood at Rs 19.28 crore as of 31 March 2026 to Rs 19.28 crore as of 31 March 2025.  Per share face Value remained same at Rs 1.00.  

Promoters' stake was 60.84% as of 31 March 2026 ,compared to 59.65% as of 31 March 2025 .  

Cash flow from operating activities decreased to Rs 100.02 crore for year ended March 2026 from Rs 331.20 crore for year ended March 2025.  Cash flow used in acquiring fixed assets during the year ended March 2026 stood at Rs 213.97 crore, compared to Rs 161.66 crore during the year ended March 2025.  

Management Commentary:

Commenting on the performance of the Company, Avarna Jain, Vice Chairperson, Saregama India, said, 'We have started the new financial year on a strong note, delivering healthy financial performance while continuing to strengthen our Entertainment Flywheel. Our integrated ecosystem across music, video, live events and artiste management enables us to maximise the value of our intellectual property and positions us well for sustainable long-term growth.'

Saregama India : Consolidated Results

Quarter ended Year ended Particulars 202606 202506 Var.(%) 202603 202503 Var.(%) Net Sales (including other operating income) 263.60 206.77 27.48 984.62 1,171.36 -15.94 OPM (%) 35.40 26.74 866 bps 34.20 23.65 1,055 bps OP 93.32 55.29 68.78 336.75 276.99 21.57 Other Inc. 4.21 14.23 -70.41 42.27 58.07 -27.21 PBIDT 97.53 69.52 40.29 379.02 335.06 13.12 Interest 2.17 0.98 121.43 5.44 5.74 -5.23 PBDT 95.36 68.54 39.13 373.58 329.32 13.44 Depreciation 23.64 17.49 35.16 81.55 58.21 40.10 PBT 71.72 51.05 40.49 292.03 271.11 7.72 Share of Profit/(Loss) from Associates -1.21 0 - 0.58 0 - PBT before EO 70.51 51.05 38.12 292.61 271.11 7.93 EO Income 0 0 - -8.53 4.96 PL PBT after EO 70.51 51.05 38.12 284.08 276.07 2.90 Taxation 18.63 14.54 28.13 77.86 71.83 8.39 PAT 51.88 36.51 42.10 206.22 204.24 0.97 Minority Interest (MI) 0.32 -0.15 PL -0.85 -0.02 -4,150.00 Net profit 51.56 36.66 40.64 207.07 204.26 1.38 P/(L) from discontinued operations net of tax 0 0 - 0 0 - Net profit after discontinued operations 51.56 36.66 40.64 207.07 204.26 1.38 EPS (Rs)* 2.67 1.90 40.64 11.06 10.40 6.33 * EPS is on current equity of Rs 19.28 crore, Face value of Rs 1, Excluding extraordinary items. # EPS is not annualised bps : Basis points EO : Extraordinary items Figures in Rs crore Source: Capitaline Corporate Database

Saregama India : Consolidated Segment Results

Quarter ended Year ended % of (Total) 202606 202506 Var.(%) % of (Total) 202603 202503 Var.(%) Sales Music Business 70.03 184.60 143.28 28.84 69.42 683.51 624.84 9.39 Others 0.00 0.00 0.00 - Films/TV Serials 0.00 0.00 0.00 - Publications 0.00 0.00 0.00 - marketing 0.00 0.00 0.00 - Events 6.08 16.02 5.10 214.12 6.28 61.83 285.23 -78.32 Artist Management 17.46 46.02 22.74 102.37 13.29 130.87 69.31 88.82 Video 6.43 16.96 35.65 -52.43 11.01 108.41 191.98 -43.53 Total Reported Sales 100.00 263.60 206.77 27.48 100.00 984.62 1,171.36 -15.94 Less: Inter segment revenues   0.00 0.00 -   0.00 0.00 - Net Sales 100.00 263.60 206.77 27.48 100.00 984.62 1,171.36 -15.94 PBIT Music Business 99.57 94.87 74.66 27.07 98.09 364.09 292.33 24.55 Others 0.00 0.00 0.00 - Films/TV Serials 0.00 0.00 0.00 - Publications 0.00 0.00 0.00 - marketing 0.00 0.00 0.00 - Events -0.01 -0.01 -2.81 99.64 -1.92 -7.11 22.94 PL Artist Management 5.00 4.76 1.58 201.27 3.42 12.70 2.73 365.20 Video -4.55 -4.34 -6.48 33.02 0.41 1.51 -3.95 LP Total PBIT 100.00 95.28 66.95 42.32 100.00 371.19 314.05 18.19 Less : Interest 2.17 0.98 121.43 5.44 6.51 -16.44 Add: Other un-allcoable -22.60 -14.92 -51.47 -81.67 -31.47 -159.52 PBIT Margin(%) Music Business   51.39 52.11 -71.56   53.27 46.78 648.29 Others   0.00 0.00 0.00 Films/TV Serials   0.00 0.00 0.00 Publications   0.00 0.00 0.00 marketing   0.00 0.00 0.00 Events   -0.06 -55.10 5,503.56   -11.50 8.04 -1,954.19 Artist Management   10.34 6.95 339.52   9.70 3.94 576.55 Video   -25.59 -18.18 -741.29   1.39 -2.06 345.04 PBT 100.00 70.51 51.05 38.12 100.00 284.08 276.07 2.90

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