Saregama India Limited reported strong performance for the quarter and financial year ended March 31, 2026. The company achieved Q4 revenue of INR 287 crore, a 19% year-on-year growth, with its music vertical driving the upward trajectory. Annual music vertical revenue reached INR 814 crore, reflecting a 17% year-on-year increase. Management highlighted a shift toward paid subscription models, strategic content investments, and the successful turnaround of its Pocket Aces division as key pillars for future growth.
Financial Performance Highlights
Saregama demonstrated significant growth in the final quarter of FY26. The company recorded its highest-ever adjusted EBITDA of INR 133 crore (a 31% YoY growth) and an operational PBT of INR 105 crore (a 37% YoY growth). For the full fiscal year, the core music vertical posted a total revenue of INR 814 crore, with an annual EBITDA of INR 517 crore, marking a 22% YoY increase.
Music Vertical Strategic Focus
The company maintains its leadership position by focusing on high-quality content and an aggressive investment strategy. With 180,000 songs in its catalogue and an addition of 5,500 new releases annually, Saregama is capitalizing on India’s under-penetrated music market. The management confirmed that the negative impact of free streaming platforms shutting down is behind them, and growth is now anchored in the expanding paid subscription base.
Key Strategic Investments
Saregama’s content strategy is reinforced by a strategic partnership with Bhansali Productions, securing exclusive access to marquee Hindi film music for the next 24 to 30 months. Additionally, the company has successfully completed the turnaround of Pocket Aces, which reached breakeven this year, serving as a powerful digital marketing engine for music promotions and monetization.
Expansion into Live Events and Partnerships
The company’s diversification into the live events space saw the launch of its inaugural festival IP, UN40. Despite the inherent lumpiness of the events business, management remains optimistic, viewing these investments as foundational for long-term growth. Furthermore, the Brand Partnerships vertical has gained momentum, securing collaborations with major brands including Skoda, Lakme, and Coca-Cola, effectively diversifying revenue streams beyond traditional music licensing.
Future Outlook
Looking ahead, Saregama expects its content investment budget to remain in the range of INR 300-350 crore for the upcoming fiscal year. Management maintains a guidance of 20-23% CAGR for the music vertical over the medium term. By leveraging its 650 million digital footprint and a commitment to data-driven content acquisition, the company aims to drive sustained earnings over the next 20 to 30 years.
Source: BSE
