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Last Updated: April 2, 2026, 3:37 am
Author: Getaka|Social: XLinkedIn

Saregama India Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹285.74Overvalued by 12.88%vs CMP ₹328.00

P/E (32.7) × ROE (12.5%) × BV (₹86.20) × DY (1.37%)

₹165.19Overvalued by 49.64%vs CMP ₹328.00
MoS: -98.6% (Negative)Confidence: 63/100 (Moderate)Models: 1 Fair, 8 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹299.1522%Fair (-8.8%)
Graham NumberEarnings₹138.9216%Over (-57.6%)
Earnings PowerEarnings₹85.0313%Over (-74.1%)
DCFCash Flow₹132.5813%Over (-59.6%)
Net Asset ValueAssets₹86.267%Over (-73.7%)
EV/EBITDAEnterprise₹173.829%Over (-47%)
Earnings YieldEarnings₹99.507%Over (-69.7%)
ROCE CapitalReturns₹198.189%Over (-39.6%)
Revenue MultipleRevenue₹91.225%Over (-72.2%)
Consensus (9 models)₹165.19100%Overvalued

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 4.7%

*Investments are subject to market risks

Investment Snapshot

59
Saregama India Ltd scores 59/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health81/100 · Strong
ROCE 17.2% GoodROE 12.5% GoodD/E 0.00 Low debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money40/100 · Moderate
FII holding down -2.27% (6mo) SellingPromoter increased by 0.74% Positive
Earnings Quality50/100 · Moderate
OPM contracting (33% → 28%) DecliningWorking capital: 40 days (improving) Efficient
Quarterly Momentum35/100 · Weak
Revenue (4Q): -21% YoY DecliningProfit (4Q): -3% YoY DecliningOPM: 35.0% (up 18.0% YoY) Margin expansion
Industry Rank75/100 · Strong
P/E 32.7 vs industry 208.8 Cheaper than peersROCE 17.2% vs industry 15.7% Average3Y sales CAGR: 27% High growth

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 3:37 am

Market Cap 6,316 Cr.
Current Price 328
Intrinsic Value₹165.19
High / Low 603/306
Stock P/E32.7
Book Value 86.2
Dividend Yield1.37 %
ROCE17.2 %
ROE12.5 %
Face Value 1.00
PEG Ratio6.96

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Saregama India Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Saregama India Ltd 6,316 Cr. 328 603/30632.7 86.21.37 %17.2 %12.5 % 1.00
Zee Entertainment Enterprises Ltd 7,307 Cr. 76.1 152/68.012.8 1213.19 %9.21 %6.71 % 1.00
TV18 Broadcast Ltd 7,761 Cr. 45.3 / 99.90.00 %0.12 %0.45 % 2.00
Network 18 Media & Investments Ltd 4,683 Cr. 30.4 65.3/27.4140 32.00.00 %0.61 %3.34 % 5.00
City Pulse Multiplex Ltd 3,198 Cr. 2,141 3,290/1,0801,591 87.40.00 %1.66 %1.48 % 10.0
Industry Average2,695.38 Cr98.69208.7637.150.28%15.66%12.68%6.15

All Competitor Stocks of Saregama India Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 182204163172204263205242483241207230260
Expenses 119154113111139193154181399160151161169
Operating Profit 63495061667051618480556992
OPM % 35%24%31%35%32%27%25%25%17%33%27%30%35%
Other Income 1517181315181213162314110
Interest 1210100005111
Depreciation 667891213141517171921
Profit before tax 71585966707651598482516070
Tax % 26%25%27%27%25%29%27%24%26%27%28%27%26%
Net Profit 53444348525437456260374451
EPS in Rs 2.762.272.262.492.712.791.912.333.233.121.902.272.66

Last Updated: February 4, 2026, 7:46 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 25, 2026, 5:16 pm

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 1771872222183575455214425767378031,171938
Expenses 160184209209320507461312377516554894642
Operating Profit 172139363860130199221249277296
OPM % 10%1%6%4%10%7%12%29%35%30%31%24%32%
Other Income 1111213105611312354616349
Interest 3102377356368
Depreciation 365443561321365874
Profit before tax 226916398560152204248271276262
Tax % 23%-5%25%46%27%36%28%25%25%25%27%26%
Net Profit 17679285444113153185198204191
EPS in Rs 1.090.390.390.481.643.112.536.477.919.6110.2510.599.95
Dividend Payout % 14%39%38%31%18%10%6%31%38%31%39%42%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)-64.71%16.67%28.57%211.11%92.86%-18.52%156.82%35.40%20.92%7.03%3.03%
Change in YoY Net Profit Growth (%)0.00%81.37%11.90%182.54%-118.25%-111.38%175.34%-121.42%-14.48%-13.89%-4.00%

Saregama India Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:20%
5 Years:18%
3 Years:27%
TTM:39%
Compounded Profit Growth
10 Years:38%
5 Years:34%
3 Years:8%
TTM:5%
Stock Price CAGR
10 Years:32%
5 Years:59%
3 Years:8%
1 Year:-2%
Return on Equity
10 Years:13%
5 Years:15%
3 Years:13%
Last Year:13%

Last Updated: September 5, 2025, 1:26 pm

Balance Sheet

Last Updated: December 4, 2025, 1:55 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 17171717171717171919191919
Reserves 1481501573223644113814881,3581,3231,4501,5641,642
Borrowings 13843166410111533
Other Liabilities 657289137181217211277309361559509596
Total Liabilities 2442472674805787096207841,6881,7042,0342,0952,260
Fixed Assets 1028485199197215219226278338742835964
CWIP 0000000224600
Investments 40404013215114875137676239118111176
Other Assets 1011241431492303453254207321,1241,1681,1491,120
Total Assets 2442472674805787096207841,6881,7042,0342,0952,260

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 27332-4-19-3679190949393331
Cash from Investing Activity + -4-1-400-6-5-136-630-15432-220
Cash from Financing Activity + -25-6-8-3938-72-49677-75-85-99
Net Cash Flow -2-420-7-10-424142-1364012
Free Cash Flow 20025-6-22-487116822-101170
CFO/OP 224%499%336%83%-24%-61%168%156%76%73%58%149%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow4.00-6.009.006.0020.00-26.0050.00129.00198.00220.00244.00274.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 7710676877574767268737245
Inventory Days 1,030270266376161
Days Payable 83816511414786
Cash Conversion Cycle 771067687757476264173226302120
Working Capital Days 2362175561779835839812140
ROCE %14%4%11%7%11%20%15%34%23%19%18%17%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 58.49%58.83%59.09%59.09%59.09%59.22%59.38%59.50%59.65%59.65%59.65%60.39%
FIIs 17.70%17.79%17.12%16.81%16.05%17.22%17.29%15.70%16.45%16.68%16.82%14.18%
DIIs 2.43%2.27%2.38%2.62%2.58%3.22%4.00%4.68%4.63%5.23%5.16%5.04%
Public 21.13%20.86%21.15%21.22%22.00%20.07%19.08%19.90%18.97%18.11%18.04%19.93%
Others 0.24%0.24%0.26%0.26%0.26%0.26%0.24%0.24%0.30%0.34%0.34%0.44%
No. of Shareholders 64,67169,38172,90377,33872,43362,69865,62973,23272,84670,28171,42772,872

Shareholding Pattern Chart

No. of Shareholders

Saregama India Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Bandhan Innovation Fund 483,497 0.85 16.3482,1182026-02-23 05:13:520.29%
Bandhan Small Cap Fund 390,001 0.07 13.15400,0002026-02-23 03:11:26-2.5%
Union Innovation & Opportunities Fund 224,856 0.72 7.58188,0002026-02-23 05:13:5219.6%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 1.001.001.001.0010.00
Basic EPS (Rs.) 10.6210.279.638.4365.61
Diluted EPS (Rs.) 10.6110.279.638.4264.97
Cash EPS (Rs.) 13.6112.1210.688.6068.32
Book Value[Excl.RevalReserv]/Share (Rs.) 76.3770.6264.0371.62292.01
Book Value[Incl.RevalReserv]/Share (Rs.) 82.1276.3769.7871.62292.01
Revenue From Operations / Share (Rs.) 60.7541.6538.2030.11253.59
PBDIT / Share (Rs.) 17.3816.0914.2411.5292.36
PBIT / Share (Rs.) 14.3614.2113.1610.8489.14
PBT / Share (Rs.) 14.3214.0412.8710.6087.16
Net Profit / Share (Rs.) 10.5910.259.607.9265.10
NP After MI And SOA / Share (Rs.) 10.5910.259.617.9164.58
PBDIT Margin (%) 28.6038.6337.2738.2436.42
PBIT Margin (%) 23.6334.1234.4535.9835.15
PBT Margin (%) 23.5633.7233.6735.2034.37
Net Profit Margin (%) 17.4324.6025.1226.2825.67
NP After MI And SOA Margin (%) 17.4324.6025.1626.2825.46
Return on Networth / Equity (%) 13.8714.5415.0511.0722.25
Return on Capital Employeed (%) 16.5115.7718.1714.4827.52
Return On Assets (%) 9.749.7110.879.0414.35
Asset Turnover Ratio (%) 0.560.420.430.460.62
Current Ratio (X) 2.874.124.075.011.97
Quick Ratio (X) 2.303.313.534.581.65
Inventory Turnover Ratio (X) 4.890.000.000.000.00
Dividend Payout Ratio (NP) (%) 42.4739.0331.2037.9033.29
Dividend Payout Ratio (CP) (%) 33.0532.9928.0534.9031.71
Earning Retention Ratio (%) 57.5360.9768.8062.1066.71
Cash Earning Retention Ratio (%) 66.9567.0171.9565.1068.29
Interest Coverage Ratio (X) 58.3695.6848.0549.1346.65
Interest Coverage Ratio (Post Tax) (X) 35.7161.9433.3834.7833.88
Enterprise Value (Cr.) 9323.796139.985870.3592776.362636.35
EV / Net Operating Revenue (X) 7.967.657.97159.795.97
EV / EBITDA (X) 27.8319.7921.38417.8516.38
MarketCap / Net Operating Revenue (X) 8.428.318.65160.346.29
Retention Ratios (%) 57.5260.9668.7962.0966.70
Price / BV (X) 6.704.925.1867.575.49
Price / Net Operating Revenue (X) 8.428.318.65160.346.29
EarningsYield 0.020.020.020.000.04

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Saregama India Ltd. is a Public Limited Listed company incorporated on 13/08/1946 and has its registered office in the State of West Bengal, India. Company's Corporate Identification Number(CIN) is L22213WB1946PLC014346 and registration number is 014346. Currently Company is involved in the business activities of Sound recording and music publishing activities. Company's Total Operating Revenue is Rs. 1009.21 Cr. and Equity Capital is Rs. 19.28 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Entertainment & Media33, Jessore Road, Dum Dum, Kolkata West Bengal 700028Contact not found
Management
NamePosition Held
Dr. Sanjiv GoenkaChairman & Non-Exe.Director
Mrs. Avarna JainVice Chairperson (Non-Executive)
Mr. Vikram MehraManaging Director
Mrs. Preeti GoenkaNon Executive Director
Mr. Umang KanoriaInd. Non-Executive Director
Mr. Santanu BhattacharyaInd. Non-Executive Director
Ms. Kusum DadooInd. Non-Executive Director
Mr. Noshir Naval FramjeeInd. Non-Executive Director

FAQ

What is the intrinsic value of Saregama India Ltd and is it undervalued?

As of 14 April 2026, Saregama India Ltd's intrinsic value is ₹165.19, which is 49.64% lower than the current market price of ₹328.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (12.5 %), book value (₹86.2), dividend yield (1.37 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Saregama India Ltd?

Saregama India Ltd is trading at ₹328.00 as of 14 April 2026, with a FY2026-2027 high of ₹603 and low of ₹306. The stock is currently near its 52-week low. Market cap stands at ₹6,316 Cr..

How does Saregama India Ltd's P/E ratio compare to its industry?

Saregama India Ltd has a P/E ratio of 32.7, which is below the industry average of 208.76. Trading at a steep discount to peers could signal a value opportunity or reflect concerns about the company's fundamentals.

Is Saregama India Ltd financially healthy?

Key indicators for Saregama India Ltd: ROCE of 17.2 % indicates efficient capital utilization. Dividend yield is 1.37 %.

Is Saregama India Ltd profitable and how is the profit trend?

Saregama India Ltd reported a net profit of ₹204 Cr in Mar 2025 on revenue of ₹1,171 Cr. Compared to ₹153 Cr in Mar 2022, the net profit shows an improving trend.

Does Saregama India Ltd pay dividends?

Saregama India Ltd has a dividend yield of 1.37 % at the current price of ₹328.00. The company pays dividends, though the yield is modest.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Saregama India Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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