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Saregama India (SAREGAMA) investor relations material
Saregama India Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2026 earnings summary5 Nov, 2025
Executive summary
Operates across music, video, live events, and artist management, leveraging a vast IP portfolio and over 400 million digital followers.
Q2 FY26 operating revenue was INR 230 crore (₹23,003 lakhs), with PBT of INR 60 crore (₹6,010 lakhs); all segments grew except for a cyclical decline in video.
Music segment saw strong performance with 1,500 new originals and premium recreations released across major Indian languages.
Strategic investments in generative AI and data analytics are driving efficiency, with up to 70% cost savings and 80% faster content execution.
Artist management vertical expanded to over 230 artists, leveraging a 200 million follower base on Instagram and YouTube.
Financial highlights
Q2 FY26 revenue from operations was INR 230 crore (₹23,003 lakhs), up 11% sequentially but down 5% year-over-year.
Adjusted EBITDA for Q2 FY26 was INR 847 Mn, a 27% sequential increase and 1% YoY growth, with a margin of 37%.
PAT for Q2 FY26 stood at INR 438 Mn (₹4,383 lakhs), up 20% sequentially, with a PAT margin of 19%.
Music segment (licensing + artist management) grew 12% YoY; full-year guidance revised to 19%-20% growth.
Interim dividend of ₹4.50 per share declared for FY26.
Outlook and guidance
Annual adjusted EBITDA guidance maintained at 32%-33%.
Music business expected to grow at 19%-20% for FY26, with mid- to long-term CAGR guidance of 23%.
Consolidated revenue (excluding Carvaan) expected to grow at 30% CAGR through FY27.
Significant growth potential in India's music subscription market, with only 1% penetration compared to global averages.
Pocket Aces expected to break even in FY26; acquisition of Finnet Media by subsidiary Pocket Aces Pictures is pending completion.
Gen AI video strategy for old catalog
Drivers for music subscription uptake?
Brand sponsorship vertical revenue outlook
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Next Saregama India earnings date
Q3 20269 Feb, 2026
Next Saregama India earnings date
Q3 20269 Feb, 2026
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Frequently asked questions
Saregama India Limited is a leading Indian company engaged in the music and entertainment industry. The company operates across several segments, including music, video content, and events. In the music segment, Saregama is known for its vast library of music rights, which includes licensing content to third-party platforms such as OTT services, television networks, and social media channels. It also manufactures and sells music storage devices like the popular Saregama Carvaan, a portable music player pre-loaded with thousands of classic songs. The company is headquartered in Kolkata, India, and its shares are listed on the NSE.
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