Q1FY22 Company Update - Saregama India - ICICI Direct

Saregama reported robust Q1FY22 results.

- Revenues were up ~37% YoY to Rs. 105 crore, on a benign base (~39% decline in Q1FY21) with growth led by the music segment, which was up 32% YoY. Carvaan sales volumes were up ~200% YoY (down 59% QoQ) to 45,000 units, on a depressed base

- EBITDA grew 95% YoY to Rs. 36.9 crore with margin at 35.1% (up 10.5 percentage points YoY)

- Consequent PAT was at Rs. 27.2 crore (up 72.6% YoY)

Key triggers for future price performance

- Growth trajectory in music licencing, which the management envisages will grow at 20%+ in the medium term

- Recovery in Carvaan, which has been impacted by Covid-19

- Expansion in movies and web series segment

- Performance of new content, which it acquired in the last few quarters

For details, click on the link below: Link to the report

Shares of SAREGAMA INDIA LTD. was last trading in BSE at Rs. 3310 as compared to the previous close of Rs. 3299.4. The total number of shares traded during the day was 1057 in over 161 trades.

The stock hit an intraday high of Rs. 3379 and intraday low of 3260. The net turnover during the day was Rs. 3529929.

Source : Equity Bulls

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