Budget 2023Budget 2023


  • Tata AIA Life Insurance
  • Hafele
  • Motilal Oswal
  • SMC Global Securities Limited
  • SBI Life
  • DSP Mutual Fund

Saregama: Why a tepid quarter doesn’t upset our thesis 

Monetisation opportunities of music as content augur well for the company’s growth prospects

January 25, 2023 / 10:43 AM IST
Saregama: Why a tepid quarter doesn’t upset our thesis 

Saregama has delivered less-than-expected revenues.

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

Highlights  Revenue fell 2 percent sequentially 3 percentage point sequential improvement in EBIT Carvaan units sales at 168K units, 15 percent behind pre-COVID levels Music licensing and Film & TV business guidance of 20-25 per cent revenue growth unchanged Interim dividend of Rs 3 a share Valuation is reasonable Saregama (CMP: Rs 331.35; Market Capitalisation: Rs 6,388 crore) has delivered less-than-expected revenues, which fell 2 percent sequentially in a seasonally strong quarter. However, weak revenue growth was compensated by a relatively stronger sequential margin improvement. The music...

  • PRO Panorama

    Moneycontrol Pro Panorama | What’s spooking equity investors? 

    Feb 9, 2023 / 02:26 PM IST

    In today’s edition of Moneycontrol Pro Panorama: MPC signals rate hike cycle not yet over, companies benefit from lower tax, mon...

    Read Now
  • PRO Weekender

    Moneycontrol Pro Weekender: The elephant in the room

    Feb 4, 2023 / 11:20 AM IST

    The well-crafted and well-delivered budget got many ‘wows’, but Mr Market’s worry lines are not yet gone

    Read Now

To read the full story, Subscribe to Moneycontrol PRO

Access the exclusive stories, weekly investment ideas and daily technical calls in an Ad free experience

Already a member? Sign in

Limited Period offer on Moneycontrol PRO. Subscribe to PRO and get up to

50% OFF

What Do You Get

  • Ad free experience

    Experience a non-intrusive navigation and faster response in the ad free mode

  • Sharpest Opinions

    Access to 230+ exclusive stories per month from our editorial and Experts

  • +

    Have a Global edge with access to content from world renowned experts and journalist

  • Actionable Insights

    Access to 40+ weekly investment ideas including 4 daily technical calls

  • Virtual Events

    Exclusive access to live webinars from market experts on trading and investment strategies

  • Newsletters

    Daily and weekly insights bundled and sent to your inbox to keep you ahead in the race.

Get upto 50% discount on limited period offers