Saregama India Limited has announced the approval of its unaudited financial results for the quarter and half-year ended September 30, 2026. Concurrently, the Board of Directors has also approved the voluntary liquidation of its wholly-owned subsidiaries, Saregama FZE, Dubai, and Kolkata Metro Networks Limited. These decisions reflect strategic adjustments aimed at streamlining operations.
Board Approves Key Restructuring and Financials
Saregama India Limited’s Board of Directors convened on November 4, 2026, to consider and approve key strategic initiatives and financial outcomes. The meeting resulted in the approval of the company’s unaudited financial results for the quarter and half-year ended September 30, 2026. These results, both standalone and consolidated, were taken on record.
Subsidiary Closures Greenlit
In a significant move towards operational streamlining, the Board has approved the initiation of voluntary liquidation proceedings for two wholly-owned subsidiaries:
- Saregama FZE, Dubai: The closure is expected to be completed by March 31, 2027, subject to regulatory approvals. The company stated that Saregama FZE currently has no ongoing business operations, and its closure is intended to eliminate recurring administrative and operational costs. The turnover of Saregama FZE for the financial year ended March 31, 2026, was ₹647.87 lakhs, representing approximately 0.66% of Saregama’s consolidated revenue. Its net worth was ₹85.36 lakhs, approximately 0.05% of the consolidated net worth.
- Kolkata Metro Networks Limited (“KMNL”): The proposal to voluntarily liquidate KMNL was approved, pursuant to the Insolvency and Bankruptcy Code, 2016. This process will commence upon shareholder approval, expected on November 20, 2026. KMNL’s turnover for the financial year ended March 31, 2026, was ₹294.33 lakhs (approximately 0.36% of Saregama’s standalone revenue), with a net worth of ₹3,520.73 lakhs (approximately 2.08% of the standalone net worth). Saregama emphasized that neither subsidiary closure is expected to have a material impact on the consolidated financials of the company.
Financial Highlights
The unaudited financial results for the six months ended September 30, 2026, show consolidated total income of ₹57,790 lakhs and a profit before tax of ₹15,628 lakhs. For the same period, the profit attributable to the owner of the company was ₹11,616 lakhs.
The detailed financial results and the Limited Review Report from the statutory auditors, BSR & Co. LLP, are enclosed as Annexure-A. Further disclosures pertaining to the subsidiary closures are provided in Annexure-B and Annexure-C.
Source: BSE
