Saregama India: Q2FY27 revenue up 37% YoY as music scale drives PAT growth of 47%
Saregama India (NSE: SAREGAMA, BSE: 532163) reported Q2FY27 consolidated revenue of ₹3,143 Mn on November 4, 2026 — a 37% rise year-on-year — while profit after tax rose 47% to ₹642 Mn, according to its BSE filing of the same date.
Saregama India (NSE: SAREGAMA, BSE: 532163) reported Q2FY27 consolidated revenue of ₹3,143 Mn on November 4, 2026 — a 37% rise year-on-year — while profit after tax rose 47% to ₹642 Mn, according to its BSE filing of the same date.
The revenue growth was led by the music and live events segments. Adjusted EBITDA margin held at 38%, though this was down 5 percentage points sequentially from Q1FY27, as disclosed in the results filing.
The H1FY27 picture: revenue crosses ₹577 Cr, margins expand
For the half-year ended September 2026, Saregama's consolidated revenue reached ₹57,790 lakh — up 32.3% from the year-ago period — and PAT attributable to owners rose 44.4% to ₹11,616 lakh, per the company's H1FY27 results filing dated November 4, 2026.
EBITDA margin for H1 expanded to 33.8%. The filing states that growth in music and artist management "outweighed losses in video and events."
The margin story: five straight quarters of expansion before Q2 moderation
The margin trajectory is visible across multiple filings. Q1FY27 consolidated revenue stood at ₹263.6 Cr, up 27.5% YoY, with EBITDA rising 69% YoY to ₹97.53 Cr and PAT increasing 40.6% to ₹51.56 Cr, as reported in Saregama's BSE filing of August 4, 2026. At that time, the company noted its operating profit margin had expanded for a fifth straight quarter, driven by a mix shift toward higher-margin Music and Artist Management, even as Video and Events segments remained drags.
Sequentially, Q1FY27 revenue was down 8.3% from Q4FY26, but EBITDA margin reached 37% — moderating from 42% in the prior quarter, according to the August 4, 2026 filing.
The August 11, 2026 investor concall filing documented management's medium-term guidance: 20-23% revenue growth in the music vertical, with 60-65% EBITDA margin for that segment.
New CFO appointed; interim continuity maintained
On June 24, 2026, the board appointed Abhishek Kapoor as Chief Financial Officer, effective July 15, 2026. Kuldeep Kothari was named Interim CFO for the period from June 24 to July 14, 2026, "ensuring continuity in the CFO role," according to the BSE filing of the same date.
Credit ratings reaffirmed
CARE Ratings reaffirmed Saregama India's long-term bank facilities (₹100 crore) at 'CARE AA-; Stable' and assigned/reaffirmed short-term bank facilities (₹130 crore and ₹3.50 crore) at 'CARE A1+', as disclosed in a BSE filing dated June 26, 2026.
Pocket Aces Pictures stake rises to 95.76%
On July 22, 2026, Saregama completed the third tranche acquisition of 35,635 equity shares (4.82% on a fully diluted basis) in its material subsidiary Pocket Aces Pictures Pvt Ltd for a cash consideration of approximately ₹20.05 crore, raising its total holding to 95.76%, per the BSE filing of that date.
What the filings show next
Saregama's stated disclosures carry no forward targets beyond the medium-term music vertical guidance shared in the August 2026 concall. The H1FY27 filing attributes current momentum to music and artist management, with the video and events segments still posting losses — a pattern the company's filings have noted since Q1FY27.
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The filing evidence
| Date | What the filing said | Detail | Source |
|---|---|---|---|
| 4 Aug 2026 | Q1FY27 consolidated revenue was ₹263.6 Cr, up 27.5% YoY, while EBITDA rose 69% YoY to ₹97.53 Cr and PAT increased 40.6% to ₹51.56 Cr; the trajectory remains margin-led, although EBITDA margin moderated to 37% from 42% in Q4FY26. | filing | |
| 4 Aug 2026 | Consolidated revenue ₹263.6 Cr (+27.5% YoY), PAT ₹51.56 Cr (+40.6% YoY), OPM 37% — margin expands for 5th straight quarter on mix shift toward high-margin Music and Artist Management; Video and Events remain drags. | filing | |
| 4 Aug 2026 | Consolidated revenue was ₹26,360 lakh, +27.5% YoY but -8.3% QoQ, while EBITDA margin expanded to 37% and PAT attributable to owners rose 40.6% to ₹5,156 lakh, extending the margin recovery despite Video weakness. | filing | |
| 4 Nov 2026 | Q2FY27 revenue rose 37% YoY to ₹3,143 Mn and PAT rose 47% to ₹642 Mn, with music and live events driving growth while adjusted EBITDA margin held at 38% despite a 5pp sequential decline. | filing | |
| 4 Nov 2026 | H1FY27 revenue rose 32.3% to ₹57,790 lakh and PAT attributable to owners rose 44.4% to ₹11,616 lakh, with EBITDA margin expanding to 33.8% as music and artist management growth outweighed losses in video and events. | filing | |
| 24 Jun 2026 | Saregama India appoints Abhishek Kapoor as CFO effective July 15, 2026, and Kuldeep Kothari as Interim CFO from June 24 to July 14, 2026. | The Board of Directors of Saregama India approved the appointment of Abhishek Kapoor as Chief Financial Officer (CFO) and Key Managerial Personnel, effective July 15, 2026, and simultaneously appointed Kuldeep Kothari as Interim CFO from June 24, 2026, until Kapoor assumes office, ensuring continuity in the CFO role. | filing |
| 24 Jun 2026 | Saregama India Ltd appoints Abhishek Kapoor as Chief Financial Officer effective July 15, 2026, and Kuldeep Kothari as Interim CFO from June 24 to July 14, 2026. | The Board of Directors of Saregama India Limited approved the appointment of Mr. Abhishek Kapoor as CFO (effective July 15, 2026) and Mr. Kuldeep Kothari as Interim CFO (effective June 24, 2026, until July 14, 2026) to ensure continuity in the CFO office. | filing |
| 26 Jun 2026 | Saregama India's long-term bank facilities reaffirmed at 'CARE AA-; Stable' and short-term facilities assigned/reaffirmed at 'CARE A1+' by CARE Ratings | Credit rating agency CARE Ratings reaffirmed Saregama India's long-term bank facilities (₹100 crore) at 'CARE AA-; Stable' and assigned/reaffirmed its short-term bank facilities (₹130 crore) at 'CARE A1+' and (₹3.50 crore) at 'CARE A1+'. | filing |
| 22 Jul 2026 | Saregama India acquires additional 4.82% stake in Pocket Aces Pictures for ~₹20 cr, raising total holding to 95.76%. | Saregama India has completed the third tranche acquisition of 35,635 equity shares (4.82% on a fully diluted basis) in its material subsidiary Pocket Aces Pictures Pvt Ltd for a cash consideration of approximately ₹20.05 crore from selling shareholders, increasing its stake from the previous level to 95.76%. | filing |
| 11 Aug 2026 | Saregama reports 27% YoY revenue growth in Q1FY27 with music vertical up 39%, while maintaining medium-term 20-23% music revenue growth and 60-65% EBITDA margin guidance. | filing |
Quick answers
- What did Saregama India disclose?
- Saregama India (NSE: SAREGAMA, BSE: 532163) reported Q2FY27 consolidated revenue of ₹3,143 Mn on November 4, 2026 — a 37% rise year-on-year — while profit after tax rose 47% to ₹642 Mn, according to its BSE filing of the same date.
- What are the key numbers?
- For the half-year ended September 2026, Saregama's consolidated revenue reached ₹57,790 lakh — up 32.3% from the year-ago period — and PAT attributable to owners rose 44.4% to ₹11,616 lakh, per the company's H1FY27 results filing dated November 4, 2026.
- What does Saregama India say comes next?
- Saregama's stated disclosures carry no forward targets beyond the medium-term music vertical guidance shared in the August 2026 concall. The H1FY27 filing attributes current momentum to music and artist management, with the video and events segments still posting losses — a pattern the company's filings have noted since Q1FY27.
Research and educational content only. Not investment advice. Drafted from regulatory filings and published automatically — see our editorial policy.