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Saregama India Ltd

Q2 FY26Entertainment

Saregama India Q2 FY26 earnings call: Revenue & Margins

Q2 FY26 earnings call: what management said on revenue, margins and capex.

Price₹504
Market cap₹9.7K Cr
P/E42.6
Updated16 Oct 2026
Read3 min read

The short version

Saregama expects consolidated revenue (excluding Carvaan) to grow at a 30% CAGR from FY '24 to FY '27. Saregama expects music business to grow at a mid to long-term CAGR of 23%.

From Saregama India Ltd's Q2 FY26 earnings-call transcript · updated 16 Oct 2026.

Revenue & Sales Performance

  • Saregama expects consolidated revenue (excluding Carvaan) to grow at a 30% CAGR from FY '24 to FY '27.
  • Music business is guided to grow at a mid to long-term CAGR of 23%.
  • Adjusted EBITDA margin guidance remains steady at 32%-33%.
  • The talent management segment has strong growth potential, complementing music licensing revenues.
  • Video segment revenues are lumpy but expected to stabilize and grow over 12-month periods.
  • Growth drivers include increasing digital consumption, expansion into regional language content, and new content investments.
  • Emerging revenue verticals like brand sponsorships and live events will contribute significantly within 12 months.

2 more points from Saregama India Ltd's call on revenue

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Profitability & Margins

See what Saregama India Ltd said on profitability & margins — free account, 30 seconds.

Capital Expenditure Plans

  • Saregama is continuing to invest in newer content, especially in languages where the market of paid subscribers is expected to grow first.
  • Capital invested in the video and live segments will not exceed 18% of the total capital employed; currently, the investment is far lower.
  • The company focuses on smaller budget video productions and is not interested in large-budget movies unless in partnership.
  • The total capital on video business is maintained at a controlled level to avoid big losses, with video serving as a strategic lever for music marketing and talent management.

2 more points from Saregama India Ltd's call on capex

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Top-ranked in Entertainment

Ranked on what management guided this quarter

Guidance-ranked
1Phantom Digital
Rev 2Mar 1
2Digikore Studios Ltd
Rev 2Mar 1
3
Rev 2Mar 3
4
Rev 2Mar 3
5
Rev 2Mar 3
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Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.

Fundraising & Capital Structure

See what Saregama India Ltd said on fundraising & capital structure — free account, 30 seconds.

Order Book & Pipeline

Relevant insights include: - Video segment revenues are lumpy due to timing of movie and series releases; several releases were postponed from Q1 and Q2 to Q3 and Q4 FY26, indicating an upcoming pipeline of content. - Management expects video revenues to stabilize and grow by year-end as releases normalize. - Music segment continues strong content acquisition and releases, with over 1,500 originals released across multiple languages in the quarter.

2 more points from Saregama India Ltd's call on order book

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Saregama India Ltd — Quarterly revenue & net profit

Revenue Net profit
Dec 2024Q3 FY25
Mar 2025Q4 FY25
Jun 2025Q1 FY26
Sep 2025Q2 FY26
Dec 2025Q3 FY26
Mar 2026Q4 FY26

Reported quarterly figures (₹ Cr). Latest (Q4 FY26): revenue ₹287 Cr, net profit ₹74 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

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What Saregama India Ltd's management said in earlier quarters

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Frequently Asked Questions

What were Saregama India Ltd Q2 FY26 results?

Saregama expects consolidated revenue (excluding Carvaan) to grow at a 30% CAGR from FY '24 to FY '27. Saregama expects music business to grow at a mid to long-term CAGR of 23%.

What is Saregama India Ltd share price analysis?

Saregama India Ltd currently shows a neutral. The stock trades at a P/E of 42.5 with a market cap of ₹9,710 Cr. Investors should review the full earnings analysis for detailed insights.

Is Saregama India Ltd planning capital expenditure?

Saregama is continuing to invest in newer content, especially in languages where the market of paid subscribers is expected to grow first.

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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.