How Saregama India shares turned music to the ears for investors after 13% price jump - How stock rallied in 2026?
A Ksheerasagar
Music record company Saregama India saw its shares jump 13.3% in Wednesday's trade on November 4 to settle at ₹637 apiece, as investors cheered the company's September-quarter performance, which came in ahead of Street estimates.
The company reported a 46.4% year-on-year (YoY) increase in its consolidated net profit to ₹64.17 crore, led by its Music business and the expansion of its Live Events segment. The company's Music business, which includes licensing, artiste management and retail, reported revenue of ₹251.3 crore in Q2 FY27, registering 35% YoY growth.
The Live Events business, which comprises concerts, devotional events, stand-up comedy and experiential offerings, reported revenue of ₹44.7 crore, registering 101% YoY growth, supported by a higher number of events.
The company said it continued to strengthen its multi-format live entertainment portfolio, leveraging its artiste relationships and music intellectual property (IP) to engage audiences across geographies and create monetisation opportunities.
Meanwhile, the Video business, which includes films, television, digital series and short-format content, reported revenue of ₹18.3 crore, reflecting a moderation of 16% YoY.
Its revenue from operations increased 36.63% to ₹314.30 crore in the September quarter of FY27, compared with ₹230 crore in the corresponding quarter last year. During Q2 FY27, the company released more than 650 film and non-film tracks across several languages, including Hindi, Bhojpuri, Punjabi, Tamil, Telugu, Malayalam and Kannada.
In its earnings filing, the company said it added 54 artistes in Q2 FY27, taking its total roster to 340 artistes, with an aggregate digital reach of more than 450 million.
During the quarter, Saregama collaborated with marquee brands such as Google, Cadbury, Apple, Tanishq, and Reliance, among others, for high-impact, integrated campaigns, leveraging its IPs to drive strong brand engagement.
Another highlight of the quarter was the use of the company's songs in marquee projects, including the Hindi film Hai Jawani Toh Ishq Hona Hai, the Tamil film DC, and Mess, produced by HRX Films, among others.
“We continued to build on our growth momentum during the quarter, supported by the performance of our Music business and the expansion of our presence across Live Events and other entertainment formats.
“Our focus remains on maximising the value of our intellectual property through multiple monetisation avenues, while maintaining financial discipline and investing in opportunities that support sustainable long-term growth,” said Avarna Jain, Vice Chairperson of Saregama India.
The company's shares have been on an upward trajectory since October 26 and have surged 30% since then, marking one of the stock's biggest one-way rallies in recent months. The latest rally has also lifted the stock's gains in 2026 to 81%, marking a sharp turnaround from its 24% decline in 2025.
If the stock closes the year with similar gains, it would mark its biggest annual surge since 2021, when it gained 522%.
A Ksheerasagar
Ksheera Sagar has been working as a Market Research Analyst at LiveMint for the past four years, covering stocks, commodities, and broader financial markets. In this role, he closely tracks daily market movements, corporate earnings, sector trends, and macroeconomic developments. <br><br> He has over a decade of experience in the financial services industry and has previously worked with multiple organisations, including global investment bank J.P. Morgan, bringing strong research experience into the newsroom. <br><br> During his career, he has gained extensive exposure to equity research, market analysis, and financial data interpretation, strengthening his expertise across asset classes and market cycles. <br><br> He is known for his data-driven analysis and crisp, listicle-style market stories that break down complex financial developments across key markets for a wide audience. His strong research skills enable him to write detailed and insightful stories on stocks and sectors, focusing on the underlying factors driving market movements. <br><br> His work combines quantitative insights with clear storytelling, presenting financial developments in a clear and structured manner. Moreover, he enjoys writing multibagger and listicle-style copies. Outside of work, Ksheera enjoys playing the piano and exploring new places. He has a keen interest in travel, music, and continuously learning about global markets and economic trends.
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