Whalesbook
Music Business ne kiya kamaal!
Is toofani tezi ka sabse bada reason hai company ka music business. Is quarter mein music se hi ₹200.43 Crore ka revenue aaya. Overall revenue 19.4% badh kar ₹287.44 Crore ho gaya. Sabse mast baat ye hai ki EBITDA 50.6% tez hokar ₹120.95 Crore par pahunch gaya, aur margin bhi 33.35% se 42.08% ho gaya. Saath hi, company ne saal bhar mein bhi 17% growth dikhaya hai music mein, aur EBITDA 22% badha hai. Stock par bhi aaj jabardast buying hui, 5.6 million se zyada shares traded hue NSE par.
IP Buys aur Artist Growth ka Jadoo
Aur ye toh bas shuruat hai! Saregama ne strategy ke tahat kuch smart IP acquisitions bhi kiye hain jaise Pocket Aces, Finnet Media, aur Bhansali Productions. Isse unka content ab films, digital series, aur short formats tak fail gaya hai. Artist management bhi mast chal raha hai, quarterly revenue double ho gaya hai aur 33 naye artists add hue hain, jinke digital followers 410 million se zyada hain.
Valuation aur Peers ka comparison
Abhi valuation ki baat karein toh Saregama ka P/E ratio lagbhag 33-35x chal raha hai. Ye apne competitors jaise Zee Entertainment Enterprises (14.7-16x) aur Sun TV Network (13.87x) se kaafi premium hai. Ye high valuation shayad inke fast growth aur IP strategy ki wajah se hai, lekin abhi yeh growth maintain rakhna padega.
Stock mein recovery
Yaad hai, pichle saal stock mein lagbhag 38.71% ki giraavat aayi thi. Toh aaj ka ye 18% ka jump ek acchi recovery hai, halanki stock abhi bhi apne 52-week high se neeche hai.
Concerns aur Risks bhi hain
Par bhai, sab kuch itna bhi sunhara nahi hai. Music par zyada depend karna ek risk ho sakta hai. Video aur events mein performance thoda weak tha, aur events mein toh loss bhi hua hai. Ye high P/E multiple market ki expectations ko dikhata hai, agar growth slow hua ya IP monetize nahi hui toh price gir sakta hai. Music catalogues aur acquisitions mein jo paisa laga rahe hain, use se consistent returns aane chahiye.
Analysts kya keh rahe hain?
Lekin analysts abhi bhi Saregama ko lekar positive hain. Zyadatar log 'BUY' karne ki salah de rahe hain. Unke average price targets ₹468.18 se ₹532.35 tak ja rahe hain, matlab abhi 40-59% tak ka upside dikh raha hai. Overall, company ki strategy digital aur music market mein faayda uthane ke liye acche position mein hai.