Saregama India Ltd stands as India's oldest music label company, established in 1902 as the erstwhile "Gramophone Company of India" and later known as "HMV." Founded in 1902 and headquartered in Mumbai, India, the company has a rich legacy spanning over a century in the Indian entertainment industry. The company was originally incorporated in August 1946 and taken over by the RPG Group in 1985 from EMI UK. The company was subsequently changed from 'Gramophone Company of India Limited' to 'Saregama India Limited' on December 16, 2000.
Today, Saregama India Limited operates as an entertainment company in India and internationally. It operates through Music, Films and Television serials, and Events. The company has established itself as a comprehensive entertainment conglomerate, with India's only entertainment company with IP offerings across media channels (music, films, web series, short-format, and TV serials), delivery platforms (digital and physical), and business models (licensing, advertising, and retail). It owns approximately 50% of all the music ever recorded in India.
The Music segment is primarily engaged in the business of manufacturing and sale of music storage devices, such as Carvaan, Music Card, Audio Compact Discs, Digital Versatile Discs and dealing with related music rights. The company boasts an extensive library of intellectual property rights with over 120,000 songs, making it one of the largest music catalogs in the country.
The Company is global owner of both sound recording and publishing copyrights of Indian music across 14 different languages. The company has significantly expanded its digital presence, with Saregama's digital footprint growing from 239 million to 350 million across platforms. The music division has been particularly successful with digital footprint across Saregama owned and controlled channels touching 262 million followers and subscribers across YouTube, Instagram and Facebook.
The Film/Television Serials segment is engaged in production and sale/telecast/broadcast of films/television serials, pre-recorded programs and dealing in film rights. The company's portfolio includes intellectual property rights of over 4000 hours of television content produced for channels in Hindi, Tamil, Telugu, Kannada, Malayalam and Bengali languages.
Since 2017, Saregama has been making headlines again owing to the launch of two unique initiatives, Saregama Carvaan and Yoodlee Films. The Carvaan brand has been particularly successful as a digital music player with pre-loaded classic songs, targeting the nostalgic music market.
For the full year, net profit rose 3.38% to Rs 204.26 crore in the year ended March 2025 as against Rs 197.59 crore during the previous year ended March 2024. Sales rose 45.87% to Rs 1171.36 crore in the year ended March 2025 as against Rs 803.00 crore during the previous year ended March 2024.
For the quarter ended March 2025, net profit of Saregama India rose 11.77% to Rs 60.13 crore in the quarter ended March 2025 as against Rs 53.80 crore during the previous quarter ended March 2024. Sales declined 8.45% to Rs 240.82 crore in the quarter ended March 2025 as against Rs 263.05 crore during the previous quarter ended March 2024.
Saregama India posted a quarterly revenue of INR 205 crores, marking a 26% year-over-year increase, aligned with its annual growth guidance of 30%. The company's EBITDA surged 9% to 33% of revenue.
• Market Capitalization: Rs 10,852 crore as of recent data
• Revenue (FY25): Rs 1,171.36 crore
• Net Profit (FY25): Rs 204.26 crore
• Dividend: For the financial year 2024, SAREGAMA declared dividend amounting to Rs 4.0 per share
The company plans to invest Rs 1,000 crore in content over the next three years. Investments in content grew at 62% to touch Rs 3,160 million, highest ever in the history of the company, well on course to invest Rs 10 Bn between FY25, FY26 and FY27.
Saregama India Limited achieved remarkable growth in FY25, reporting a record revenue of INR 1,171 crores, a 46% increase from the previous year, driven by a strategic shift towards digital consumption, which now constitutes 70% of its music revenues.
During the quarter, more than 30 influencers/artists were added, taking the total influencers/artist count managed by the company to over 150 (23 per cent growth Q-o-Q) with more than 100 million followers and subscribers on Instagram and YouTube. Saregama's Live started the 'Dil Luminati' tour of Diljit Dosanjh. As many as 11 concerts were held across the US and Canada in Q1FY25.
The company is aiming to be a pure-play content company supported by the global consumption boom. With its extensive catalog and diverse revenue streams, Saregama has positioned itself uniquely in the Indian entertainment ecosystem. The company is pinning its growth ambitions on three pillars: monetizing the existing IP, creating new IP, and the direct-to-consumer retail business.
The promoters of Saregama India Ltd are Composure Services Private Limited and Quest Capital Markets Limited. They collectively own 59.24 per cent of the total equity. Promoter holding in Saregama India Ltd has gone up to 59.65 per cent as of Mar 2025 from 59.22 per cent as of Jun 2024.
Despite facing challenges in the music segment due to platform shutdowns, the company is investing heavily in content acquisition, particularly in regional markets, and aims to capture a significant share of new music releases. Management remains optimistic about the transition to paid subscriptions, anticipating long-term benefits despite short-term revenue fluctuations.
The company continues to strengthen its position across multiple verticals while maintaining its focus on intellectual property creation and monetization, positioning itself for sustained growth in India's rapidly evolving entertainment landscape.
