Saregama India Limited — Investor Meet, 21-05-2026: Analysts/Institutional Investor Meet/Con. Call Updates

SAREGAMA posted strong Q4FY26 results: revenue +19% YoY to ₹287 Cr, EBITDA +31% YoY to ₹133 Cr. Full-year music vertical revenue grew 17% to ₹814 Cr, EBITDA +22% to ₹517 Cr, benefiting from H2 content releases & end of free platform issues. Management forecasts 20-23% CAGR for music revenue (60-65% EBITDA margins), with ₹300-350 Cr planned for FY27 content. Strategic investment in Bhansali Productions ensures Hindi film music access. India's paid streaming market (under 3% penetration) offers massive growth. Pocket Aces reached breakeven. Management holds a positive view on long-term value from strategic content investments.