RPSG Group Share Jumps 18% After Strong Q4 Results; What’s Driving the Momentum?

Synopsis: The share surged 18.5 percent after strong Q4 FY26 results, driven by sharp profit growth, strong music business performance, rising digital reach, and improved IP-led monetisation.

The share of this company, which owns a massive music library, produces films via Yoodlee Films, and manufactures the Carvaan portable speaker, gained investor traction after posting Q4 numbers. 

With a market capitalization of Rs 7,500 crore, Saregama India Ltd’s share made a day high of Rs 397.05 per share, up 18.5 percent from its previous day’s close price of Rs 335 per share. The share of this company gave a return of 92 percent over the last five years.

Results Overview

QoQ View: The revenue from operations grew by 10.4 percent to Rs 287 crore in Q4 FY26 from Rs 260 crore in Q3 FY26 (Dec 2025). EBIDT saw a significant jump of 32 percent to Rs 121 crore from Rs 91.7 crore in the previous quarter. Furthermore, net profit increased by 44.7 percent to Rs 74.1 crore from Rs 51.2 crore, which led to an EPS improvement of 47 percent to Rs 3.91 per share from Rs 2.66 in Q3 FY26.

YoY View The revenue from operations grew by 19 percent to Rs 287 crore in Q4 FY26 (Mar 2026) from Rs 241 crore in Q4 FY25 (Mar 2025), and EBIDT grew by 51 percent to Rs 121 crore in Q4 FY26 from Rs 80.3 crore in Q4 FY25. Accompanied by a net profit growth of 35 percent to Rs 74.1 crore in Q4 FY26 from Rs 59.9 crore in Q4 FY25, resulting in an EPS growth of 25 percent to Rs 3.91 per share in Q4 FY26.

Fiscal year comparison: Revenue from operations declined to Rs 985 crore in FY26 from Rs 1,171 crore in FY25, indicating a contraction in topline performance. Operating margin improved to 34 percent in FY26 from 24 percent in FY25, reflecting better cost efficiency and operational control. 

Profit before tax rose to Rs 284 crore from Rs 276 crore, showing marginal growth. Net profit surged to Rs 206 crore from Rs 24 crore, reflecting a sharp improvement in overall profitability. 

Factors that supported the rally

• Strong Growth in Music Business The Music segment delivered strong performance with annual revenue rising 17 percent YoY to Rs 8,144 million. EBITDA grew 22 percent YoY to Rs 5,167 million, while net margin increased 28 percent YoY to Rs 3,768 million, reflecting strong monetisation across licensing, artiste management, and retail operations.
• Portfolio Diversification in Live Events The Live Events business saw strategic diversification into multiple genres, including new IPs such as UN40 and Bhajan Clubbing concerts. However, annual revenue declined 78 percent YoY to Rs 618 million, mainly due to a high base in FY25 from large-scale events like Diljit Dosanjh’s India tour.
• Strategic Shift in Video Business The Video segment witnessed a conscious scaling down of film production activities, with strategic investments redirected towards Bhansali Productions. As a result, overall annual revenue from the Video business stood at Rs 1,084 million, reflecting a transitional phase in content strategy and portfolio realignment.
• Strong Music Output and Content Expansion Saregama India Ltd delivered strong quarterly momentum with 1,200+ film and non-film track releases across multiple languages, including Hindi, Tamil, Telugu, Punjabi and others. Key releases included major film albums and non-film tracks, supporting consistent content-led growth.
• Rising Digital Reach and Live Event Scale-Up The Live Events business expanded with the successful UN-40 festival and growing presence in devotional and comedy shows. The company also added 33 artistes in Q4 FY26, taking the total roster above 300, while digital reach expanded to over 650 million followers across social platforms, supported by brand collaborations with major companies.
• Conclusion: The 18.5 percent rally in Saregama India Ltd was supported by strong Q4 FY26 earnings, sharp EBITDA and net profit growth, and rising contribution from its core music business. Sentiment was further supported by expanding digital reach, higher content output, and steady IP-led monetisation, which reinforced investor confidence despite a weak FY26 revenue base in live events. 

About the business

Saregama India Ltd, formerly known as The Gramophone Company of India Ltd., is India’s oldest music label (est. 1901) and a major IP-driven entertainment company. Part of the RP-Sanjiv Goenka Group, it owns a massive music library, produces films via Yoodlee Films, and manufactures the Carvaan portable speaker.

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