Saregama India Ltd. and Bhansali Productions have announced a strategic partnership, marked by Saregama’s equity investment in Bhansali Productions. This alliance aims to combine Bhansali’s cinematic storytelling with Saregama’s strength in music. Bhansali Productions will sell its future film music to Saregama, guaranteeing a pipeline of premium film music. The investment is expected to improve Saregama’s EPS by FY27.
Strategic Partnership Announcement
Mumbai, December 16, 2025: Saregama India Ltd. and Bhansali Productions Private Limited have officially announced a strategic partnership. This collaboration is anchored by a significant equity investment from Saregama into Bhansali Productions, aiming to leverage synergies between the two entities.
Key Partnership Highlights
The partnership unites Bhansali Productions’ distinct cinematic storytelling with Saregama’s leading position in the music and live events space. This alliance is designed to create a next-generation media and entertainment powerhouse. Bhansali Productions will utilize the fund infusion to expand its content slate across various formats, building a world-class studio while retaining the intellectual property (IP) of its film productions.
Film Music Rights
As part of the agreement, Bhansali Productions will exclusively sell all future film music rights to Saregama based on a pre-agreed formula. This arrangement ensures Saregama gains a steady supply of premium film music, reducing competitive bidding, and securing a long-term market share in the new music segment.
Saregama’s Film Strategy
Saregama intends to streamline its in-house film production activities over the next 1-2 years, shifting focus towards strategic partnerships like the one with Bhansali Productions.
Financial Expectations
The investment is projected to be accretive to Saregama’s Earnings Per Share (EPS) by FY27, with improvements anticipated across both the Music and Video segments.
Bhansali Productions Overview
Founded in 1996 by Sanjay Leela Bhansali, Bhansali Productions is known for its distinctive cinematic language and commercial success, delivering culturally resonant films. The studio’s recent global hit includes the Netflix series Heeramandi. The studio has a robust pipeline of over 10 feature films planned over the next three years.
Financial Performance of Bhansali Productions
For FY25, Bhansali Productions reported revenue of ₹304 crore, an EBITDA of ₹60 crore, and a Profit After Tax (PAT) of ₹45 crore, demonstrating strong profitability and disciplined execution.
Source: BSE
