Earnings Release
Saregama Q1 FY27 Results: Revenue Up 27% YoY to ₹263.6 Crore; PBT Up 38%
NSE
SAREGAMA
BSE
532163
Saregama India Limited reported Q1 FY27 consolidated revenue from operations of ₹263.6 crore, up 27% YoY. Adjusted EBITDA grew 69% YoY to ₹112.4 crore, with margin expanding to 43% (from 32% in Q1 FY26). PBT stood at ₹70.5 crore, up 38% YoY, while PAT was ₹51.9 crore, up 42% YoY. Music revenue grew 39% YoY, while Live Events revenue surged 214% YoY.
PRICE-SENSITIVE TRIGGER
Event: Q1 FY27 Financial Results Announcement
Type: Earnings Release
Impact: Positive
Immediate Effect: Strong revenue and profit growth; music and live events momentum; margin expansion; positive sentiment for the stock.
Metrics:
- Revenue from Operations: ₹263.6 crore (+27% YoY)
- Adjusted EBITDA: ₹112.4 crore (+69% YoY)
- Adjusted EBITDA Margin: 43% (up from 32% in Q1 FY26)
- PBT: ₹70.5 crore (+38% YoY)
- PAT: ₹51.9 crore (+42% YoY)
- EPS: ₹2.69
Highlight:
- Adjusted EBITDA up 69% YoY; margin expansion of 1,100 bps to 43%; Live Events revenue up 214% YoY.
What Happened ?
Saregama India Limited announced its Q1 FY27 financial results, reporting consolidated revenue from operations of ₹263.6 crore, up 27% YoY. Adjusted EBITDA grew 69% YoY to ₹112.4 crore, with margin expanding to 43%. Music revenue grew 39% YoY driven by strong licensing and artiste management, while Live Events revenue surged 214% YoY driven by a multi-format strategy of concerts, devotional, experiential, and stand-up comedy events.
key details
- Revenue from operations up 27% YoY to ₹263.6 crore.
- Adjusted EBITDA up 69% YoY to ₹112.4 crore; margin at 43% (up from 32%).
- PBT up 38% YoY to ₹70.5 crore.
- PAT up 42% YoY to ₹51.9 crore.
- Music revenue up 39% YoY to ₹230.6 crore; Music EBITDA up 36% YoY.
- Live Events revenue up 214% YoY to ₹16.0 crore.
- 750+ film & non-film tracks released across 14+ languages; 250M+ streams and views.
- 33 artists added in Q1; total roster at 309 artists with 440M+ digital reach.
- Carvaan: Shifted focus to margin over volume with premium product mix.
- Digital footprint: 680M+ followers and subscribers across platforms.
- Video business pivoting away from own film production to investment in Bhansali Production.
- Collaborations with Visa, HUL, Myntra, Godrej, Bharat Matrimony for integrated campaigns.
Note:
- Music Net Margin (Music EBITDA less content charge) stood at ₹99.6 crore. The company’s Entertainment Flywheel framework continues to drive integrated monetization across music, video, live events, and artiste management.
Risk Analysis
Summary:
- While the company delivered strong performance, risks include content costs, competition, and evolving consumer preferences.
Key Risks:
- Content acquisition and production costs impacting margins.
- Competition from other music labels and OTT platforms.
- Changing consumer preferences and consumption patterns.
- Dependence on key artists and creators.
- Execution of live events and video content strategy.
- Regulatory changes in the media and entertainment sector.
Worst Case:
- Rising content costs or slower-than-expected monetization of IP could impact margin trajectory.
Risk Level: Low to Medium
Company Commentary
Management highlighted that:
- Avarna Jain, Vice Chairperson, Saregama India: “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.”
Official Exchange Filing: Saregama India Ltd
