Saregama India Ltd Share Price – NSE  /  BSE

Entertainment, Small Cap

Saregama India Ltd rose for a third straight session today. The stock is quoting at Rs 544.25, up 2.13% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is down around 0.56% on the day, quoting at 24341.6. The Sensex is at 79865.77, down 0.7%. Saregama India Ltd has dropped around 1.42% in last one month.

Meanwhile, Nifty Media index of which Saregama India Ltd is a constituent, has dropped around 1.15% in last one month and is currently quoting at 1976.3, up 1.93% on the day. The volume in the stock stood at 1.27 lakh shares today, compared to the daily average of 3.74 lakh shares in last one month.

The PE of the stock is 50.71 based on TTM earnings ending March 24.

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Total expenses during the period under review rose by 25% year-over-year to Rs 176.7 crore.

Adjusted EBIDTA jumped by 40% YoY to Rs 86.4 crore while adjusted EBIDTA margin rose by 300 basis points YoY to 33% in Q4 FY24.

Profit before tax in Q4 FY24 stood at Rs 76 crore, up by 30% from Rs 58.3 crore in Q4 FY23.

Saregama stated that during the quarter, the company released 290 plus Originals and Premium Recreations across Hindi, Bhojpuri, Gujarati, Punjabi, Tamil, Telugu, Malayalam, Marathi and Bengali languages. Company also released 2,000 plus derivatives (LoFi, Trap Mix, Cover, Acoustic etc.) which is driving the popularity and growth of its catalogue.

Digital footprint across Saregama owned and controlled channels touched 239 million followers and subscribers across YouTube, Instagram and Facebook.

The company’s strong performance was led by growth in music licensing on account of strong advertisement revenues driven by its investment in new music and the revenues generated through the artist management vertical.

For FY24, Saregama India has reported net profit and revenue of Rs 197.6 crore (up 5% YoY) and Rs 803 crore (up 7% YoY), respectively.

Avarna Jain, vice chairperson, Saregama India, said: “FY24 has been a significant year of transition with Saregama adopting a customer first approach, which is demonstrated by the diverse nature of content released across target segments, genres and languages.

Our acquisition of digital entertainment company Pocket Aces, bold moves to launch artist management and event management segments is a testament to our strategy of being future ready.”

Saregama India is a RPSG group company owning the largest music archives in India and one of the biggest in the world. The ownership of nearly 50 per cent of all the music ever recorded in India also makes Saregama the most authoritative repository of the country’s musical heritage. Saregama has also expanded into other branches of entertainment - film & series production, live events, and music-based consumer products.

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GMM Pfaudler Ltd, PNB Housing Finance Ltd, Gland Pharma Ltd, Jubilant Foodworks Ltd are among the other stocks to see a surge in volumes on NSE today, 23 May 2024.

Saregama India Ltd recorded volume of 47.27 lakh shares by 14:14 IST on NSE, a 19.26 times surge over two-week average daily volume of 2.45 lakh shares. The stock gained 10.87% to Rs.455.50. Volumes stood at 3.81 lakh shares in the last session.

GMM Pfaudler Ltd recorded volume of 9.88 lakh shares by 14:14 IST on NSE, a 17.7 times surge over two-week average daily volume of 55822 shares. The stock lost 5.67% to Rs.1,326.55. Volumes stood at 53548 shares in the last session.

PNB Housing Finance Ltd saw volume of 24.54 lakh shares by 14:14 IST on NSE, a 13.46 fold spurt over two-week average daily volume of 1.82 lakh shares. The stock increased 7.73% to Rs.803.00. Volumes stood at 1.74 lakh shares in the last session.

Gland Pharma Ltd registered volume of 17.96 lakh shares by 14:14 IST on NSE, a 10.73 fold spurt over two-week average daily volume of 1.67 lakh shares. The stock rose 4.83% to Rs.1,879.60. Volumes stood at 1.32 lakh shares in the last session.

Jubilant Foodworks Ltd witnessed volume of 108.75 lakh shares by 14:14 IST on NSE, a 6.56 times surge over two-week average daily volume of 16.59 lakh shares. The stock dropped 0.58% to Rs.476.85. Volumes stood at 23.27 lakh shares in the last session.

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Net profit of Saregama India rose 23.06% to Rs 53.80 crore in the quarter ended March 2024 as against Rs 43.72 crore during the previous quarter ended March 2023. Sales rose 29.16% to Rs 263.05 crore in the quarter ended March 2024 as against Rs 203.66 crore during the previous quarter ended March 2023.

For the full year,net profit rose 6.61% to Rs 197.59 crore in the year ended March 2024 as against Rs 185.34 crore during the previous year ended March 2023. Sales rose 9.01% to Rs 803.00 crore in the year ended March 2024 as against Rs 736.62 crore during the previous year ended March 2023.

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