ICICI Direct's research report on Saregama India
Saregama India (Saregama) is India’s oldest music label owning ~1.3 lakh songs across various languages, which is monetised over various formats such as digitals (streaming, YouTube), physical (Carvaan) and television. Apart from music, it is also into TV serials /(Tamil) and creates low budget films as well as web series for OTT platforms through Yoodlee Films.
Outlook
Keeping our estimates unchanged, we value Saregama at stock split adjusted target price of Rs 489, at 40x FY24 P/E.
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