Saregama India Limited — Investor Meet, 23-05-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Saregama India reported FY25 revenue of INR1,171 Cr (+46% YoY), with Adjusted EBITDA at INR356 Cr (+18%) and PBT at INR276 Cr (+2%). Content investment rose 62% to INR316 Cr, boosting music, live events, and video IP. Q4 saw revenue of INR241 Cr, PBT at INR81.6 Cr; music licensing was flat due to platform disruptions, but paid subscriptions and YouTube premium grew strongly.

Artist management and live events are scaling, while video content targets 25% CAGR despite short-term licensing softness. Carvaan sales shifted entirely to e-commerce, with margins expected to reach single digits by FY26. The company aims to double PBT in 3–4 years, maintaining EBITDA margins near 32–33%.

Management highlights accelerating subscription revenue growth as free streaming shrinks, with digital ads and influencer economy as key long-term drivers. The outlook remains upbeat on content monetization and sustainable growth in Indian entertainment IP.