Saregama India Share Price Target 2026: Stock Analysis, Share Price Today, Bull Case and Bear Case After Q1 FY27
- June 26, 2026
- Posted by: Lakshit Sharma
- Category: News
Saregama India Rs 503.70 (6 Oct 2026 close). 52-week range Rs 307.05 to Rs 574.50. Q1 FY27 revenue Rs 263.6 cr, up 27%; profit Rs 51.9 cr, up 42%.
Quick Answer
The Saregama India share price target for 2026 is Rs 450 to Rs 551, which is between 11 percent below and 9 percent above the last close of Rs 503.70, with bull and bear cases of Rs 684 to Rs 792 and Rs 262 to Rs 315. Saregama India reported Q1 FY27 revenue up 27 percent to Rs 263.6 crore, net profit up 42 percent to Rs 51.88 crore and adjusted EBITDA up 69 percent to Rs 112.4 crore, with the music business up 39 percent to Rs 230.6 crore. Live events revenue rose 214 percent, the video business was deliberately reset, and the stock fell after results and trades at 44 times earnings against an industry average of 25 times. No brokerage price target was available on the sources we track as of 6 October 2026, so every range below is a Univest research scenario.
The Saregama India share price target for 2026 is Rs 450 to Rs 551 in the Univest base case, with the stock at Rs 503.70 at the 6 October 2026 close. That is 12.3 percent below its 52-week high of Rs 574.50 and 64.0 percent above its 52-week low of Rs 307.05, and the stock moved up 11.5 percent over the past year. Saregama India is one of India’s oldest music labels, part of the RP-Sanjiv Goenka Group, with over 180,000 songs, the Carvaan players, artiste management, video and live events. Debt to equity is 0.04 and the dividend yield is 0.89 percent.
Three things changed since the last update: Q1 FY27 results on 4 August showed profit up 42 percent, the stock touched Rs 574.50 in the week of 3 August and then fell, and management reiterated Rs 300 to Rs 350 crore of new music spending for FY27. This Saregama India stock analysis covers the Saregama India share price today, the Saregama India share price target for 2026, 2027 and 2030, the Q1 FY27 numbers, catalysts and risks, key price levels and a Saregama India buy or sell view.
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What Is the Saregama India Share Price Target for 2026?
The 2026 target for Saregama India shares is Rs 450 to Rs 551 in the Univest base case, which is -10.7% to +9.4% against the last close. The bull case is Rs 684 to Rs 792 and the bear case is Rs 262 to Rs 315. No brokerage price target was available on the sources we track as of 6 October 2026, so every range below is a Univest research scenario. Analyst consensus is used as a cross-check, not as the base.
Saregama India Share Price Target Scenarios: Bull Case, Base Case and Bear Case
| Scenario | FY28E EPS | Target Multiple | Price Target (Rs) | Move vs Rs 503.70 |
|---|---|---|---|---|
| Bull Case | Rs 18 | 38x to 44x | 684 to 792 | +35.8% to +57.2% |
| Base Case | Rs 14.5 | 31x to 38x | 450 to 551 | -10.7% to +9.4% |
| Bear Case | Rs 10.5 | 25x to 30x | 262 to 315 | -48.0% to -37.5% |
FY28 EPS of Rs 14.50 in the base case compares with trailing EPS of Rs 11.47 and Q1 EPS of Rs 2.69, and assumes music revenue growth near 20 percent with the music margin near 60 percent. Music and media IP names trade at premium multiples, and the stock trades at about 35 times the base estimate. The PE multiple used for each case is shown in the table, and the EPS estimate is a Univest assumption, not company guidance. Those assumptions set the Saregama India share price target range around the current price.
Saregama India Company Overview and Share Price Today as of 6 October 2026
Saregama India share price today is Rs 503.70 on the NSE at the 6 October 2026 close, before the market opens on 7 October. The market capitalisation is Rs 9,716 crore, and the stock trades at 43.9 times earnings against an industry average of 25 times. The Univest base case Saregama India share price target of Rs 450 to Rs 551 is -10.7% to +9.4% from here. The table below sets out the key numbers behind the Saregama India share price target.
| Parameter | Value | Context |
|---|---|---|
| NSE Ticker | SAREGAMA | BSE code 532163 |
| Sector | Music and entertainment | Per Univest sector classification |
| Last Close (NSE) | Rs 503.70 | 6 Oct 2026 close |
| 52-Week High | Rs 574.50 | CMP is 12.3% below |
| 52-Week Low | Rs 307.05 | CMP is 64.0% above |
| 1-Year Return | About +12% | Weekly close Rs 451.75 on 10 Oct 2025 to Rs 503.7 |
| Market Capitalisation | Rs 9,716 crore | Small cap music and entertainment company |
| Trailing P/E | About 43.9x | Industry P/E about 24.96x |
| P/B Ratio | About 6.14x | Book value Rs 82.04 per share |
| EPS (TTM) | Rs 11.47 | Trailing twelve months |
| Return on Equity | About 12.2% | Debt to equity 0.04 |
| Dividend Yield | About 0.89% | Dividend of Rs 4.5 per share for FY26 |
| 12-Month Target (Base Case) | Rs 450 to Rs 551 | Univest base case |
| Bull Case | Rs 684 to Rs 792 | +35.8% to +57.2% |
| Bear Case | Rs 262 to Rs 315 | -48.0% to -37.5% |
Track live price, fundamentals and results for Saregama India on the Univest Screener.
How Did Saregama India Perform in Q1 FY27?
Saregama India reported Q1 FY27 consolidated revenue from operations of Rs 263.6 crore, up 27 percent from Rs 206.8 crore, and net profit of Rs 51.88 crore, up 42 percent from Rs 36.51 crore. Adjusted EBITDA rose 69 percent to Rs 112.4 crore at a margin near 43 percent. Together these Q1 FY27 numbers anchor the Saregama India share price target.
| Metric | Q1 FY27 | Context |
|---|---|---|
| Revenue from Operations | Rs 263.6 crore | Up 27% YoY |
| Net Profit | Rs 51.88 crore | Up 42%; EPS Rs 2.69 |
| Adjusted EBITDA | Rs 112.4 crore | Up 69%; margin near 43% |
| Music Vertical Revenue | Rs 230.6 crore | Up 39%; EBITDA up 36% |
| Live Events Revenue | Rs 16 crore | Up 214% from Rs 5.1 crore |
| Video Revenue | Rs 17 crore | A deliberate reset |
Management guided to 20 to 23 percent music revenue growth and a 60 to 65 percent annual music EBITDA margin, with FY27 new music spend of Rs 300 to Rs 350 crore. Net worth was Rs 1,754.7 crore at June 2026, and the company is expanding in the US and through a new Dubai subsidiary. The FY27 outlook from management is the main input for these estimates. These numbers sit behind every range in the scenario table above, so they anchor the Saregama India share price target.
Why Is Saregama India Share Price Up 64 Percent From Its March Low?
Saregama India shares are about 64 percent above the Rs 307.05 low of the week of 9 March 2026 and up 11 percent in a year. The stock jumped 15 percent in the week of 11 May on volume of 13.5 crore shares after Q4 results and 12 percent in the week of 1 June.
It touched Rs 574.50 in the week of 3 August on 1.06 crore shares after Q1 results, closed that week at Rs 519.20 and has since traded between Rs 473 and Rs 519. The shares are 12 percent below the August high. The Saregama India share price target scenarios below account for that move.
Key Catalysts for the Saregama India Share Price Target in 2026
4 catalysts matter most for the Saregama India share price target, and sector tailwinds in Music and entertainment are part of the case. Together they decide whether the base case is reached.
1. Music Licensing
Music revenue grew 39 percent to Rs 230.6 crore. Streaming and brand licensing add recurring income. If it plays out, the Saregama India share price target moves toward the top of the base range.
2. Live Events
Events revenue rose 214 percent to Rs 16 crore. Scaling events adds a second growth leg. Strength here would support the upper end of the Saregama India share price target.
3. Content Library
The company owns over 180,000 songs and released 750 or more originals. A deep library supports licensing margin. Delivery on this point keeps the Saregama India share price target on track.
4. Balance Sheet
Debt to equity is only 0.04 and net worth is Rs 1,754.7 crore. Low debt funds new music spend. Better news here would lift the Saregama India share price target toward the bull case.
What Are the Key Risks to the Saregama India Share Price Target?
The main risks are a premium valuation, content spending, video weakness and hit-driven revenue. Each can pull the Saregama India share price target lower.
Premium Valuation
The stock trades at 44 times earnings and 6 times book. A bear case EPS of Rs 10.50 at 25 times would put the price near Rs 263. If it materialises, the Saregama India share price target would slip toward the bear case.
Content Spending
FY27 new music spend is Rs 300 to Rs 350 crore. Weak returns on new content would hit margin. This is the main downside risk to the Saregama India share price target.
Video Weakness
Video revenue is being reset and fell in Q1. The video arm may stay a drag. A worsening here would cut the Saregama India share price target toward the low end of the range.
Hit-Driven Revenue
Part of music revenue depends on new releases. A weak slate could slow growth. Watch it closely, because it can pull the Saregama India share price target lower quickly.
Saregama India Stock Analysis: Support and Resistance Levels for the Share Price Target
Saregama India stock analysis on weekly charts shows a tight range of Rs 473 to Rs 519 since mid-September, with the stock near the middle.
The first support level is Rs 488.85, the low of the week of 5 October. Below that, Rs 473 to Rs 475 marks the lows of the weeks of 28 and 14 September.
The first resistance level is Rs 506.80 to Rs 518.65, the highs of the weeks of 5 October and 7, 21 and 28 September. Above that, Rs 534.60 to Rs 543.30 marks the highs of August and Rs 574.50 is the 52-week high. These levels come from weekly price action, are not trade recommendations, and frame the near-term Saregama India share price target.
Saregama India Share Price Target 2026, 2027 and 2030: Short, Medium and Long Term
Short-Term Saregama India Share Price Target (3 to 6 Months)
In the near term the stock is likely to trade between Rs 473 and Rs 519. A close above Rs 519 would put Rs 535 to Rs 543 in play, while a weekly close under Rs 473 would open Rs 450. The Q2 FY27 results are the main trigger. This range anchors the near-term Saregama India share price target.
12-Month and 2027 Saregama India Share Price Target
The 12-month target price is Rs 450 to Rs 551, valued on 31 to 38 times FY28 EPS of Rs 14.5. The range across scenarios runs from Rs 262 in the bear case to Rs 792 in the bull case.
Long-Term Saregama India Share Price Target for FY29 to 2030
For FY29 to 2030 the Univest scenario range is Rs 540 to Rs 792. This assumes EPS of Rs 18 in FY29 and Rs 22 in FY30 and a multiple of 30 to 36 times. It needs music revenue to grow 20 to 23 percent a year, the music margin to hold at 60 to 65 percent and live events to keep scaling. This is the long-term Saregama India share price target in the Univest scenarios.
Bull Case and Bear Case for Saregama India Share Price Target
Bull Case Rs 684 to Rs 792
The bull case of Rs 684 to Rs 792 for the Saregama India share price target needs EPS of Rs 18 and the market to pay 38 to 44 times for it. It is +35.8% to +57.2% from the last close.
Bear Case Rs 262 to Rs 315
The bear case of Rs 262 to Rs 315 for the Saregama India share price target equals 25 to 30 times FY28 EPS of Rs 10.5 and sits near the Rs 307.05 low. It is -48.0% to -37.5% from the last close.
Is Saregama India a Good Buy at Rs 504? Saregama India Buy or Sell View
Whether Saregama India is a buy at Rs 503.70 depends on horizon and risk appetite. The base case sits between 11 percent below and 9 percent above the current price, the stock is 12 percent below its high, and the open question is whether growth justifies the multiple. The Saregama India share price target range is the starting point for that decision.
Long-term holders may focus on music growth, margin and new content returns, and treat Rs 473 as the level to watch. Short-term traders may prefer to wait for a close above Rs 519. Check institutional holding in the September quarter filing for signs of accumulation or selling. Consult a SEBI-registered advisor before acting, since this Saregama India buy or sell view is educational.
How to Invest in Saregama India Shares
Step 1: Check the live price, valuation and the latest Saregama India share price target range on the Univest Screener.
Step 2: Open a demat and trading account with a SEBI-registered broker such as Univest before acting on any Saregama India share price target.
Step 3: Search for SAREGAMA on the NSE or 532163 on the BSE in your trading app.
Step 4: Place a limit order near your planned entry and size the position so a fall to Rs 262 is bearable.
Step 5: Track music revenue, margin and Q2 FY27 results and set price alerts on the Univest App to follow any change in the Saregama India share price target.
Conclusion
Saregama India closed at Rs 503.70 against a Univest base case share price target of Rs 450 to Rs 551, a bull case of Rs 684 to Rs 792 and a bear case of Rs 262 to Rs 315. Q1 FY27 delivered revenue growth of 27 percent and profit growth of 42 percent. The main risks are a premium valuation, content spending and video weakness.
The stock is 12.3 percent below its 52-week high, so the base case sits between 11 percent below and 9 percent above the current price. The triggers to watch are music revenue, margin and Q2 FY27 results and the Rs 473 and Rs 519 levels. Re-check the Saregama India share price target after each quarterly result. Investors with a long horizon and tolerance for volatility can track these triggers, while others may prefer to size positions carefully.
Download the Univest iOS App or Univest Android App to track Saregama India live price and get daily stock recommendations.
Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
FAQs on Saregama India Share Price Target 2026
What is the Saregama India share price target for 2026?
Ans. The Saregama India share price target for 2026 is Rs 450 to Rs 551 in the Univest base case, with a bull case of Rs 684 to Rs 792 and a bear case of Rs 262 to Rs 315. No brokerage target was available on the sources we track as of 6 October 2026, so these are Univest research scenarios. These are estimates and can change after the Q2 FY27 results.
What is the Saregama India share price target for 2027?
Ans. The Saregama India share price target for 2027 is Rs 450 to Rs 551 in the base case, valued on 31 to 38 times FY28 EPS of Rs 14.5. The scenario range runs from Rs 262 to Rs 792.
Is Saregama India a good buy at Rs 503.70?
Ans. Whether Saregama India is a good buy at Rs 503.70 depends on your horizon, risk appetite and how you read the Saregama India share price target. Profit is growing 42 percent with low debt, but the stock trades at 44 times earnings and fell after results. Consult a SEBI-registered advisor before investing.
What are the key risks to the Saregama India share price target?
Ans. The key risks to the Saregama India share price target are premium valuation, content spending, video weakness and hit-driven revenue. The stock trades at 44 times earnings and 6 times book. A bear case EPS of Rs 10.50 at 25 times would put the price near Rs 263.
What are the key catalysts for the Saregama India share price target?
Ans. The key catalysts for the Saregama India share price target are music licensing, live events, content library and balance sheet. Music revenue grew 39 percent to Rs 230.6 crore. Streaming and brand licensing add recurring income.
Where can I track Saregama India share price today and Saregama India share price target updates?
Ans. You can track the live Saregama India share price, results and any change to the Saregama India share price target on the Univest Screener and the Univest App. Download the Univest iOS App or Univest Android App for research from SEBI-registered analysts.
What are Saregama India’s 52-week high and low?
Ans. Saregama India’s 52-week high is Rs 574.50 and its 52-week low is Rs 307.05, based on weekly NSE data. At Rs 503.70 the stock is 12.3 percent below the high and 64.0 percent above the low. Both levels frame the Saregama India share price target.
How to buy Saregama India shares?
Ans. Open a demat account with a SEBI-registered broker such as Univest, search for SAREGAMA on the NSE or 532163 on the BSE, and place a limit order near your entry price, using the Saregama India share price target range as a guide. Size the position so a fall to Rs 262 is bearable, and check the live price on the Univest Screener first.