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Saregama India (SAREGAMA) investor relations material
Saregama India Q2 2027 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q2 FY27 revenue from operations was ₹3,143 Mn, up 37% YoY; Adjusted EBITDA rose 39% to ₹1,180 Mn, with a 38% margin.
Growth is supported by newer music content entering higher-contribution years and expansion into artist management, live events and brand partnerships.
Strategy centers on perpetual ownership of a 180,000+ song catalogue and monetisation across formats, supported by a 700 Mn+ digital audience.
Financial highlights
Consolidated Q2 revenue was ₹31,430 lakh versus ₹23,003 lakh YoY; H1 revenue was ₹57,790 lakh versus ₹43,680 lakh.
Adjusted EBITDA was ₹1,180 Mn, up 39% YoY; operational PBT was ₹858 Mn, up 43%, and content charge was ₹375 Mn, up 15%.
Consolidated profit for the period was ₹6,417 lakh in Q2 and ₹11,605 lakh in H1; Q2 diluted EPS was ₹3.36.
Revenue from operations increased 19% QoQ; Adjusted EBITDA increased 5% QoQ.
Outlook and guidance
Music revenue guidance remains 20%–23% CAGR over three to five years, with music EBITDA margin guidance of 60%–65%.
FY27 new-content spend is guided at ₹300–350 crore; FY28–FY30 combined spend is expected to be ~₹1,200 crore, with budgets rising ~10% annually beyond FY27.
Short-form video revenue may decline further during the transition; Pocket Aces reached breakeven in FY26 and is moving toward profitability in FY27.
Paid music subscriptions are growing faster than ad-based listening; pricing is a potential additional growth driver in India from two to three years onward.
Video plans include continued work with Sun TV across languages, selected Doordarshan shows, and upcoming releases Party Animals and Vishwambhara.
- Revenue rose 19%; a Rs125cr raise accelerated digital and global expansion.SAREGAMA
Q4 2000 - Revenue and EBITDA surged on music IP, digital growth, and international expansion.SAREGAMA
Q1 26/27 - Music revenue rose 17% YoY, driving margin gains and strong profit growth in FY26.SAREGAMA
Q4 25/26 - Q3 FY26 saw revenue and profit growth, strong margins, and a ₹4.5/share interim dividend.SAREGAMA
Q3 25/26 - Q2 FY26 revenue was INR 230 crore, net profit ₹4,383 lakhs, and interim dividend declared.SAREGAMA
Q2 2026 - Q2 FY25 revenue up 40% YoY, driven by video, music, and digital; profit dipped as costs rose.SAREGAMA
Q2 2025 - Q1 FY25 revenue up 26% YoY, EBITDA margin at 33%, with digital and content investment focus.SAREGAMA
Q1 2025 - Revenue up 46% YoY, digital and music growth strong, with higher content investment and dividends.SAREGAMA
Q4 2025 - Q3 FY25 revenue and profit soared, driven by exceptional growth in live events and music licensing.SAREGAMA
Q3 2025
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