Saregama India Ltd share Price

Saregama India (Saregama) is India’s oldest music label with ~1.42 lakh songs across various languages, which is monetised over various formats such as digitals (streaming, YouTube), physical (Carvaan) and television.

• Apart from music, it is also into TV serials /(Tamil) and creates low budget films as well as web series for OTT platforms through Yoodlee Films

Saregama reported a healthy set of numbers.

• Revenues were up ~46% YoY to ₹ 180.2 crore, led by TV & films segment, up 150% YoY at ₹ 52.5 crore, as two films (‘Zombivili’ and ‘Habbadi’) and one regional web series was licenced during the quarter. Music segment was up 25.5% YoY. Carvaan sales volumes were up 2% YoY to 1.12 lakh units, while licencing revenues continued to be robust. For FY22, licencing revenues at ₹ 358.5 crore, grew by ~26% YoY
• EBITDA grew 50% YoY (down 5% QoQ) to ₹ 51.4 crore with EBITDA margin at 28.5%, up 80 bps YoY (down 7600 bps QoQ owing to revenues mix)
• Consequent PAT was at ₹ 48.2 crore (up 30% YoY) 

Movies & Entertainment company Saregama India announced Q1FY24 results:

• Company’s operating revenue stood at Rs 1,633 million with a strong adjusted EBITDA of Rs 623 million at a 38% Margin.
• PAT of Rs 433 million at a 27% margin, delivering a margin growth of 6% over Q4FY23 and 2% over Q1FY23.
• Music segment revenue grew strongly to Rs 1,491 million with new content continuing to contribute significantly to the Company’s revenue and profitability.

Avarna Jain, Vice Chairperson, Saregama India, said, “Saregama continues to invest in content that generates healthy returns and fortifies its position as the leading music label. More importantly, our bets to diversify the business are well placed to realize the organization’s goal of being the leading entertainment company that continues to grow profitably. The success of our strategy is demonstrated in the Q1FY24 results with Operating revenue of Rs 1,633 million combined with 27% PAT margin”.

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