{"id":179436,"date":"2026-02-03T14:28:15","date_gmt":"2026-02-03T19:28:15","guid":{"rendered":"https:\/\/alphastreet.com\/india\/?p=179436"},"modified":"2026-02-03T14:28:15","modified_gmt":"2026-02-03T19:28:15","slug":"saregama-india-ltd-shares-fall-as-q3-fy26-revenue-and-profit-decline","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/saregama-india-ltd-shares-fall-as-q3-fy26-revenue-and-profit-decline\/","title":{"rendered":"Saregama India Ltd Shares Fall as Q3 FY26 Revenue and Profit Decline"},"content":{"rendered":"\n<p><strong>Saregama India Limited<\/strong> (SAREGAMA.NS) shares <strong>closed at \u20b9328.00 on the National Stock Exchange on Tuesday<\/strong>, down about <strong>0.49% on the day<\/strong>, with the company\u2019s <strong>market capitalization at approximately \u20b96,305 crore<\/strong> at the close of trading. <strong>Saregama reported third-quarter fiscal 2026 earnings for the period ended Dec. 31, 2025<\/strong>, showing declines in total revenue and reported net profit compared with the year-ago quarter.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Financial Performance<\/strong><\/h2>\n\n\n\n<p>Saregama India posted <strong>revenue from operations of \u20b92,604 million<\/strong> in <strong>Q3 FY26<\/strong>, reflecting a <strong>13% rise from the preceding quarter<\/strong> but a decrease from the prior year\u2019s comparable period. <strong>Adjusted EBITDA for the quarter was \u20b91,210 million<\/strong>, with an <strong>Adjusted EBITDA margin of 46%<\/strong>.<\/p>\n\n\n\n<p><strong>Profit before tax<\/strong>, excluding an exceptional non-cash charge, was <strong>\u20b9765 million<\/strong>, which management said was a <strong>27% increase quarter-on-quarter<\/strong>. Including an exceptional <strong>\u20b970 million non-cash labor code implementation charge<\/strong>, <strong>reported PBT was \u20b9695 million<\/strong>. <strong>Profit after tax (PAT) for Q3 FY26 was \u20b9512 million<\/strong>, up <strong>17% on a sequential basis<\/strong> but lower compared with Q3 FY25 on a like-for-like revenue base. <strong>Earnings per share stood at \u20b92.67<\/strong> for the quarter.<\/p>\n\n\n\n<p>On a regulatory filing basis also circulating in market intelligence feeds, <strong>revenue from operations was cited at \u20b9260.38 crore<\/strong> and <strong>net profit at \u20b951.24 crore<\/strong> for the quarter, both lower year-on-year, with <strong>total income around \u20b9267.8 crore<\/strong> and <strong>total expenses at \u20b9191.3 crore<\/strong>.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"752\" height=\"409\" src=\"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/image-3.jpeg\" alt=\"\" class=\"wp-image-179438\" srcset=\"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/image-3.jpeg 752w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/image-3-300x163.jpeg 300w\" sizes=\"auto, (max-width: 752px) 100vw, 752px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"752\" height=\"449\" src=\"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/image-39.png\" alt=\"\" class=\"wp-image-179439\" srcset=\"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/image-39.png 752w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/image-39-300x179.png 300w\" sizes=\"auto, (max-width: 752px) 100vw, 752px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Segment Update<\/strong><\/h2>\n\n\n\n<p><em>Music Licensing and Artist Management revenues increased 23% quarter-on-quarter and 29% year-on-year<\/em>. The company reported releases of major film soundtracks across multiple languages and growth in digital content distribution reach.<\/p>\n\n\n\n<p>The events business saw scaled-up activity with live music tours and collaborations, while YouTube and social media follower metrics expanded, reflecting growth in owned digital channels. The company noted additions to its artist roster and strategic initiatives linking content and monetization across platforms.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Management Commentary<\/strong><\/h2>\n\n\n\n<p>Q3 FY26 was a strong quarter for the company, reflecting consistent execution across our businesses. Recent developments, including new partnerships, sign-ups, and projects, reinforce our confidence in a healthy growth runway in the near term, supported by our continued focus on disciplined investments and portfolio diversification.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Costs and Margins<\/strong><\/h2>\n\n\n\n<p>Saregama reported an improvement in adjusted EBITDA margins to 46% in Q3 FY26. The press release attributed part of the margin expansion to cost efficiencies and revenue mix changes, although an exceptional non-cash labor code charge lowered reported profit before tax.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Dividend and Strategic Investments<\/strong><\/h2>\n\n\n\n<p>The board declared an <strong>interim dividend of \u20b94.50 per share<\/strong>, consistent with earlier payouts. The company disclosed a strategic investment in <strong>Bhansali Productions<\/strong> to secure access to select Hindi film music projects as part of its content acquisition and portfolio expansion strategy.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Outlook<\/strong><\/h2>\n\n\n\n<p>Overall, Saregama India Limited\u2019s recent results show pressure on revenue and reported profitability alongside margin resilience and continued investment in content and licensing assets. The company remains focused on expanding its music catalog and digital monetization channels while maintaining capital allocation through dividends and selective strategic investments.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Saregama India Limited (SAREGAMA.NS) shares closed at \u20b9328.00 on the National Stock Exchange on Tuesday, down about 0.49% on the day, with the company\u2019s market capitalization at approximately \u20b96,305 crore at the close of trading. Saregama reported third-quarter fiscal 2026 earnings for the period ended Dec. 31, 2025, showing declines in total revenue and reported [&hellip;]<\/p>\n","protected":false},"author":2399,"featured_media":125269,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1941,392,5],"tags":[15691,10169,8181,12109,15690,10089,10057,15689],"class_list":["post-179436","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-stock-analysis","category-earnings","category-latest","tag-artist-management","tag-earnings","tag-media","tag-media-entertainment","tag-music-licensing","tag-quarterly-earnings","tag-saregama","tag-saregama-india"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2021\/10\/Earnings-Coverage.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":167492,"url":"https:\/\/alphastreet.com\/india\/saregama-india-ltd-q3fy25-19-rise-in-profits\/","url_meta":{"origin":179436,"position":0},"title":"Saregama India Ltd Q3FY25; 19% rise in Profits","author":"Chirag Gupta","date":"March 20, 2025","format":false,"excerpt":"Saregama is the oldest music label company from India (established 1902, erstwhile \"Gramophone Company of India\" & then \"HMV\"). 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