Saregama India Limited (SAREGAMA) fair value: what the stock is really worth
As of Oct 1, 2026: fair value of Saregama India Limited ₹215, price ₹495, upside -56.6%, quality 55 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 2, 2026.
How to read this chart
60‑month range ₹213.67 – ₹652.09 · fair‑value band ₹161.24 – ₹267.14 · the ₹494.75 price screens above the ₹214.51 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Oct 2, 2026.
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Saregama India Limited operates as an entertainment company in India and internationally. It operates in four segments: Music, Artist Management, Video, and Events. The Music segment engages in the manufacture and sale of music storage device through Carvaan, Music Card, Vinyl records, etc., as well as dealing with related music rights.
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Saregama India Limited operates as an entertainment company in India and internationally. It operates in four segments: Music, Artist Management, Video, and Events. The Music segment engages in the manufacture and sale of music storage device through Carvaan, Music Card, Vinyl records, etc., as well as dealing with related music rights. Its Artist Management segment manages influencers and artiste on an exclusive or non-exclusive basis. The Video segment is involved in the production and sale/telecast/broadcast of long-form and short-form video content, as well as dealing in related rights. Its Events segment organizes live musical events through ticket sales and sponsorships. The company was founded in 1902 and is headquartered in Mumbai, India. Saregama India Limited operates as a subsidiary of Composure Services Private Limited.
Stock analysis
Saregama India Limited (SAREGAMA) currently trades at ₹494.75, while our model-based Fair Value estimate is ₹214.51, 56.6% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of ₹230.34 per share, and 0 of the 17 models we run sit above the ₹494.75 price.
Bear case: the Dividend Discount group reads lowest at ₹57.80, and 17 of the 17 models stay below the price. Evidence for this calculation is high.
Scenario range: ₹161.24 (bear) to ₹267.14 (bull), the price of ₹494.75 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 55/100 (solid quality), in the Communication Services sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Saregama India Limited reported revenue of ₹9.8B in FY2026 versus ₹5.8B in FY2022, a compound +14.3%/yr. Reported net income was ₹2.1B in FY2026, compounding +7.9%/yr from FY2022.
Key figures
Market cap ₹95.5B (≈ $991M) · P/E ratio 43.0 · P/S ratio 9.05 · EPS (TTM) ₹11.50 · Dividend yield 0.9% · Net margin 21.0% · Return on equity 12.6% · Return on assets (EBIT) 14.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
What moves the price
The share trades about 11% below its 52-week high and 60% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Communication Services peers we cover trades at −3% fair-value upside, at −57%, SAREGAMA screens richer than that median.
Fair Value models
Bear ₹161.24Fair Value ₹214.51Bull ₹267.14
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2026 figures (about 6 months old). Earnings retained since then (₹3.55 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.56/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
−15.9%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+10.2%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+17.9%
Start year 2021 (pandemic). Over 10 years: +16.1% a year
Revenue growth 20 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+10.8%
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What shareholders gained per year (last 5 years), in INR ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+13.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year+12.9%
Dividend (yield on the price)0.9%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.12.9% vs 39.4%, slowing
Profit margin 2021 to 2026 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.28% → 26%
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Entertainment · 228 stocks
Beats the industry median on 7/13 measures
A mixed picture versus its industry peers.
Valuation
Quality Score55 · Above median
Fair Value upside−56.6% · Bottom 25%
Profitability
Return on equity (TTM)12.6% · Top 25%
Return on assets7.2% · Top 25%
Net margin (TTM)21.0% · Top 25%
Operating margin (TTM)33.9% · Top 25%
Growth and dividend
Revenue growth19.4% · Above median
Dividend yield (TTM)0.9% · Bottom 25%
Balance sheet
Debt / equity0.01× · Below median
Valuation Multiplesvs Entertainment median · lower = cheaper
P/E (TTM)43.0× · Priciest 25%
P/B5.64× · Priciest 25%
P/S (TTM)9.70× · Priciest 25%
EV/EBITDA27.9× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 21
FUTURE (revenue growth)100· sector 23
PAST (return on equity)50· sector 5
HEALTH (low debt)100· sector 96
DIVIDEND (yield)18· sector 49
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Saregama India Limited Fair Value". https://www.fairvalue-calculator.com/stock/SAREGAMA
Frequently asked questions
Is Saregama India Limited (SAREGAMA) overvalued or undervalued?
As of Oct 2, 2026, our model estimates a fair value of ₹214.51 versus a price of ₹494.75, about −57% upside (overvalued).
What is the fair value of SAREGAMA?
Our model-based fair value for Saregama India Limited is ₹214.51 (as of Oct 2, 2026), built from audited fundamentals. The current price: ₹494.75.
What is the quality score of SAREGAMA?
Saregama India Limited has a Quality Score of 55/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Saregama India Limited (SAREGAMA)?
Our model-based price target is the fair value of ₹214.51 (as of Oct 2, 2026) from 17 valuation models. Cautious scenario ₹161.24, optimistic scenario ₹267.14. It is a calculation from audited fundamentals, not an analyst target.
What is the Saregama India Limited stock forecast for 2026?
Our models put fair value at ₹214.51, about −57% upside versus a price of ₹494.75 (overvalued). Cautious scenario ₹161.24, optimistic scenario ₹267.14. The calculation is refreshed regularly with new filings.
What is the revenue of Saregama India Limited (SAREGAMA)?
Saregama India Limited reported trailing-twelve-month revenue of about ₹10.4B (latest available figure, as of Oct 2, 2026).
Does Saregama India Limited pay a dividend?
Saregama India Limited currently shows a dividend yield of about 0.91% relative to its recent price (as of Oct 2, 2026).
What is the intrinsic value of Saregama India Limited (SAREGAMA)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Saregama India Limited it is ₹214.51 per share (as of Oct 2, 2026), against a price of ₹494.75. It is the blended result of 17 valuation models (cash flow, earnings, asset, dividend).
Is Saregama India Limited stock overvalued or undervalued in 2026?
As of Oct 2, 2026, SAREGAMA trades above its calculated fair value: price ₹494.75, fair value ₹214.51, a gap of about −57% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of SAREGAMA?
No. The price is what the market pays today (₹494.75); the fair value is what the company's own numbers justify (₹214.51). For Saregama India Limited the two are ₹280.24 per share apart. That gap is exactly why we show both numbers side by side.
How much is Saregama India Limited worth?
The market values Saregama India Limited at about ₹95.5B (market capitalisation, as of Oct 2, 2026). Per share that is ₹494.75; our models calculate a fair value of ₹214.51 per share.
What do the bullish and bearish scenarios say about SAREGAMA?
Our models span a range for Saregama India Limited: cautious scenario ₹161.24, base ₹214.51, optimistic ₹267.14 per share (as of Oct 2, 2026, price ₹494.75). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of SAREGAMA?
Saregama India Limited trades at a price-to-earnings ratio of 43.0 (as of Oct 2, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹214.51 is built from several models across several years. Other multiples: P/B 5.6, P/S 9.7, EV/EBITDA 27.9.
How solid is the balance sheet of Saregama India Limited (SAREGAMA)?
Balance-sheet figures for Saregama India Limited (as of Oct 2, 2026): return on equity 12.6%, debt of 0.01 per unit of equity. They feed the Quality Score of 55/100, which measures business quality independently of the share price.
How far is SAREGAMA from its 52-week high?
Saregama India Limited trades at ₹494.75, about 11% below its 52-week high of ₹557.25 and 60% above the low of ₹310.00 (as of Oct 1, 2026). Distance from the high says nothing about value: that is what the fair value of ₹214.51 is for.
Which stocks are comparable to Saregama India Limited?
From the same area (Communication Services) we also value Netflix, Inc, The Walt Disney Company, Warner Bros. Discovery, Inc, Live Nation Entertainment, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Saregama India Limited stock attractive at the current price?
The data as of Oct 2, 2026: price ₹494.75, calculated fair value ₹214.51 (−57%), Quality Score 55/100, from 17 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of SAREGAMA calculated?
We run Saregama India Limited through 17 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ₹214.51, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. Saregama India Limited itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Saregama India Limited (SAREGAMA)?
The closing price on Oct 1, 2026 was ₹494.75. Our model-based fair value is ₹214.51, about −57% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Saregama India Limited right now?
The price sits above even our optimistic bull case (₹267.14). The favourable scenario is already priced in. Solid but not exceptional quality (55/100) and above fair value, neither a clear bargain nor a standout compounder.
Where does the earnings growth of Saregama India Limited (SAREGAMA) come from?
Earnings per share at Saregama India Limited grew +44.9 % a year from 2015 to 2026. Broken into its drivers: revenue per share +17.5 %, EBIT margin +23.0 %, tax rate +1.2 %, residual (interest, one-offs) −1.0 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Saregama India Limited
How large is the market capitalisation of Saregama India Limited (SAREGAMA)?
The market capitalisation of Saregama India Limited is ₹95.5B (≈ $991M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Saregama India Limited (SAREGAMA)?
The price-to-sales ratio of Saregama India Limited is 9.05 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Saregama India Limited (SAREGAMA)?
Earnings per share at Saregama India Limited are ₹11.50 (price ÷ EPS = P/E 43.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Saregama India Limited (SAREGAMA)?
The dividend yield of Saregama India Limited is 0.9% (payout 39.1%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Saregama India Limited (SAREGAMA)?
The net margin of Saregama India Limited is 21.0% (fiscal year 2026). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Saregama India Limited (SAREGAMA)?
The return on equity (ROE) of Saregama India Limited is 12.6% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Saregama India Limited (SAREGAMA)?
On an EBIT basis the return on assets of Saregama India Limited is 14.1% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Saregama India Limited (SAREGAMA)?
The operating margin of Saregama India Limited is 26.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Saregama India Limited (SAREGAMA)?
Revenue at Saregama India Limited is growing +27.5% versus a year earlier (3y avg +10.2%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Saregama India Limited (SAREGAMA)?
Earnings per share at Saregama India Limited are growing +41.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Saregama India Limited (SAREGAMA) generate?
The free cash flow of Saregama India Limited is −₹809M (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Saregama India Limited (SAREGAMA) hold?
Saregama India Limited holds more cash than debt, ₹767M net (fiscal year 2026). The company holds more cash than debt, a safety cushion.
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