Saregama Reports Record Q4 FY26 EBITDA Driven by Music Strength

Saregama India Ltd announced its highest-ever quarterly EBITDA, reaching ₹1,327 million for the fourth quarter of FY26. This marks a significant 31% increase compared to the same period last year. The company's revenue from operations also saw a robust rise, growing 19% year-on-year to ₹2,874 million.

The music segment was the primary driver of this growth. Fueled by record investments in new music content (₹2,354 million) and catalogue acquisitions (₹1,047 million) during FY26, the music segment's revenue climbed 17% year-on-year for the full fiscal year, reaching ₹8,144 million. EBITDA for the segment rose 22% to ₹5,167 million.

While the music business performed strongly, other segments faced challenges. The Live Events business experienced a sharp decline, with revenue falling 78% year-on-year in FY26, largely due to a high comparison base from a major tour in the previous year. The Music: Retail segment also saw revenue decrease by 17% year-on-year in FY26.

Saregama has strategically reduced its focus on the Films Production business, choosing instead to invest in Bhansali Productions. This shift allows the company to concentrate more on its core music IP and new entertainment formats.

Looking at the full fiscal year 2026, Saregama's consolidated revenue from operations declined 16% year-on-year to ₹9,846 million. However, consolidated Adjusted EBITDA for the year rose 13% year-on-year to ₹4,047 million.

Looking ahead, shareholders can expect a continued emphasis on monetizing music IP and expanding content. The company is also diversifying its entertainment offerings, with new initiatives like music festivals aiming to create fresh revenue streams. Key areas to monitor include the performance and monetization of its expanded music catalogue, the success of new IP initiatives, the recovery of the Music: Retail segment, and the strategy for its Films Production business.

Saregama operates in a competitive market alongside music and entertainment companies such as Tips Industries Ltd and Zee Entertainment Enterprises Ltd.