Saregama India Limited (IN:SAREGAMA)
:SAREGAMA
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Saregama India Limited
(SAREGAMA)
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Rating:59Neutral
Price Target:
₹349.00
▼(-2.42% Downside)
Action:ReiteratedDate:02/06/26
The score is supported by a strong, low-leverage balance sheet and solid profitability, but is pulled down by the sharp TTM revenue decline and weakened cash conversion/FCF. Technically, the stock remains in a downtrend (below major DMAs with negative MACD), while valuation looks somewhat expensive despite a moderate dividend yield.
Positive Factors
Conservative balance sheet
Very low leverage and a solid equity base provide durable financial flexibility. This supports investment in new content, enables opportunistic M&A or catalogue purchases, and helps the company weather cyclical revenue shocks without forcing asset sales or aggressive cost cuts.
Negative Factors
Significant TTM revenue decline
A near‑term ~19% drop in trailing revenues is structurally meaningful: it can erode catalogue monetization momentum and reduce bargaining leverage with platforms and licensees. Prolonged revenue contraction would limit content investment and weaken long‑term growth prospects.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Very low leverage and a solid equity base provide durable financial flexibility. This supports investment in new content, enables opportunistic M&A or catalogue purchases, and helps the company weather cyclical revenue shocks without forcing asset sales or aggressive cost cuts.
Read all positive factors
Saregama India Limited (SAREGAMA) vs. iShares MSCI India ETF (INDA)
Market Cap
₹66.19B
Dividend Yield2.59%
Average Volume (3M)11.22K
Price to Earnings (P/E)32.9
Beta (1Y)0.58
Revenue Growth-21.41%
EPS Growth-3.06%
CountryIN
Employees332
SectorConsumer Cyclical
Sector Strength84
IndustryEntertainment
Share Statistics
EPS (TTM)9.96
Shares Outstanding192,809,500
10 Day Avg. Volume9,647
30 Day Avg. Volume11,219
Financial Highlights & Ratios
PEG Ratio14.28
Price to Book (P/B)6.28
Price to Sales (P/S)8.48
P/FCF Ratio58.62
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)11.6
Revenue Forecast (FY)₹11.99B
Saregama India Limited Business Overview & Revenue Model
Company Description
Saregama India Limited engages in the sound recording and publishing business in India and internationally. The company operates through Music, Films/TV Serials, and Publication segments. The Music segment manufactures and sells music storage devi...
How the Company Makes Money
Saregama generates revenue through multiple streams, primarily from music licensing, digital streaming, and product sales. The company earns significant income from licensing its extensive music catalog to films, television shows, and advertisemen...
Saregama India Limited Financial Statement Overview
Summary
Income Statement
71
Positive
Balance Sheet
90
Very Positive
Cash Flow
44
Neutral
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 9.38B | 11.71B | 8.03B | 7.37B | 5.76B | 4.33B |
| Gross Profit | 4.13B | 4.52B | 4.73B | 4.13B | 3.57B | 2.64B |
| EBITDA | 3.06B | 2.77B | 3.10B | 2.70B | 2.30B | 1.58B |
| Net Income | 1.92B | 2.04B | 1.98B | 1.85B | 1.53B | 1.13B |
Balance Sheet | ||||||
| Total Assets | 22.86B | 20.95B | 20.34B | 17.04B | 16.88B | 7.84B |
| Cash, Cash Equivalents and Short-Term Investments | 5.54B | 1.81B | 1.74B | 2.55B | 6.83B | 1.33B |
| Total Debt | 799.00M | 27.00M | 54.33M | 7.13M | 13.03M | 11.02M |
| Total Liabilities | 6.65B | 5.08B | 5.61B | 3.59B | 3.07B | 2.75B |
| Stockholders Equity | 16.17B | 15.83B | 14.69B | 13.42B | 13.78B | 5.06B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 1.70B | 9.71M | -183.60M | 217.12M | 1.68B |
| Operating Cash Flow | 528.30M | 3.31B | 932.45M | 848.20M | 944.25M | 1.90B |
| Investing Cash Flow | -612.10M | -2.21B | 165.94M | -1.41B | -6.30B | -1.36B |
| Financing Cash Flow | -1.24B | -987.30M | -848.64M | -756.00M | 6.77B | -494.80M |
Saregama India Limited Technical Analysis
Positive
357.65
Price Trends
335.41
Positive
347.42
Negative
408.31
Negative
Market Momentum
0.17
Negative
56.69
Neutral
85.50
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:SAREGAMA, the sentiment is Positive. The current price of 357.65 is above the 20-day moving average (MA) of 332.50, above the 50-day MA of 335.41, and below the 200-day MA of 408.31, indicating a neutral trend. The MACD of 0.17 indicates Negative momentum. The RSI at 56.69 is Neutral, neither overbought nor oversold. The STOCH value of 85.50 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:SAREGAMA.
Saregama India Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | ₹86.24B | 13.88 | ― | 2.65% | -0.26% | 11.79% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
59 Neutral | ₹66.19B | 32.87 | ― | 2.59% | -21.41% | -3.06% | |
57 Neutral | ₹756.76M | ― | ― | ― | -67.74% | 46.53% | |
50 Neutral | ₹11.99B | -12.87 | ― | ― | -56.04% | ― | |
48 Neutral | ₹2.75B | -1.32 | ― | ― | -4.68% | -60.77% | |
46 Neutral | ₹172.23M | -4.58 | ― | ― | -81.36% | -210.99% |
* Consumer Cyclical Sector Average
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Saregama India Limited
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Saregama India Limited Corporate Events
Saregama Closes Trading Window Ahead of Q3 FY26 Results
Dec 26, 2025
Saregama India Limited has announced the closure of its trading window for designated persons and their immediate relatives from 1 January 2026 until 48 hours after the company announces its unaudited financial results for the third quarter and ni...
Saregama Independent Director Santanu Bhattacharya Completes Final Board Term
Dec 21, 2025
Saregama India Limited has announced that independent director Santanu Bhattacharya has completed his second and final term on the board and ceased to be an independent director with effect from the close of business on 21 December 2025. The board...
Saregama India Limited Releases Unaudited Financial Results for Q2 2025
Nov 6, 2025
Saregama India Limited has announced the approval of its unaudited financial results for the quarter and half-year ending on September 30, 2025. The results, which have been published in major newspapers, reflect the company’s financial perf...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.