Saregama India posts steady Q2 as content expansion fuels digital footprint

Saregama India reported a steady set of numbers for Q2 FY26, with profitability improving sequentially even as revenue declined year-on-year.

Revenue from operations stood at Rs 230 crore in Q2 FY26, down 5% year-on-year but up 11% sequentially. Profit after tax came in at Rs 43.8 crore, down 2% YoY but higher by 20% QoQ. The PAT margin remained steady at 19% compared with Q2 FY25, while improving from 18% in Q1 FY26.

Profit before tax stood at Rs 60.1 crore, up 18% sequentially and 1% year-on-year. Adjusted EBITDA grew 27% quarter-on-quarter and 1% YoY to Rs 84.7 crore, with margins expanding to 37%, compared with 32% in Q1 FY26 and 35% in Q2 FY25.

Total expenses were Rs 145.3 crore, down 8% year-on-year and up 4% sequentially. The company maintained cost discipline, with content charging cost at Rs 32.5 crore (down 7% YoY), depreciation at Rs 2.5 crore (up 25% YoY), and finance cost at Rs 1.1 crore (up 175% YoY). Other income declined 8% year-on-year to Rs 11.5 crore.

Operationally, Saregama continued to deepen its content library, releasing over 1,500 new tracks across Hindi, Bhojpuri, Gujarati, Punjabi, Tamil, Telugu, Malayalam, Marathi, and Bengali languages. Its digital footprint across owned and controlled channels surged to 400 million followers and subscribers on YouTube, Instagram, and Facebook, underscoring strong audience engagement.

The board declared an interim dividend of Rs 4.50 per share, with the record date set for 11 November 2025.

Avarna Jain, vice chairperson, Saregama India, said, "H1 FY26 remained steady, reflecting overall industry conditions, and the outlook for the second half remains strong with several key projects and partnerships lined up. The company is in a strong position with its aggressive investment strategy coupled with diversifying business segments."

Saregama India, part of the RPSG Group, is India's leading Entertainment IP company with a legacy dating back to 1902. Its diverse portfolio includes film and non-film music, digital media, television content, artiste and influencer management, and film production.

Shares of Saregama India fell 0.75% to Rs 452.30 on Tuesday, 4 November 2025. The market was shut today on account of Guru Nanak Jayanti.

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