Saregama India vs Entertainment Network India: Share Price, Comparison and Key Differences
- August 10, 2026
- Posted by: Lakshit Sharma
- Category: News
Saregama India MCap Rs 10,183 Cr, PE 46.05x, ROE 12.23%, D/E 0.04, Div 0.85%. Entertainment Network India MCap Rs 510 Cr, loss-making (EPS -1.71).
Saregama India vs Entertainment Network India (ENIL) is a comparison entertainment media investors look up when evaluating two listed Indian audio and entertainment companies. Saregama India, owned by the RP-Sanjiv Goenka Group, is the custodian of India’s largest music library – with rights to over one million songs spanning 8+ decades – and has reinvented itself as a modern music IP licensing and digital streaming royalty company. Entertainment Network India (ENIL, Radio Mirchi) is a Times Group company operating FM radio stations across India under the brand Radio Mirchi, Mirchi Love and Mirchi 98.3.
This Saregama India vs Entertainment Network India article covers reach and market position, key products, latest declared results and stock valuation. The Saregama India vs Entertainment Network India data below is sourced from Groww and public company filings and reflects the most recently available information at the time of writing.
Saregama India vs Entertainment Network India: Reach and Market Position
On the Saregama India side of the Saregama India vs Entertainment Network India comparison, Saregama owns rights to music from 1950s to today across all Indian languages and licenses them to streaming platforms (Spotify, JioSaavn, Gaana), films, TV and Carvaan devices. Market capitalisation is Rs 10,183 Cr.
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On the Entertainment Network India side of the Saregama India vs Entertainment Network India comparison, ENIL operates FM radio stations in 63 cities across India under Radio Mirchi and related brand names. Market capitalisation is Rs 510 Cr.
Saregama India vs Entertainment Network India: Key Products and Business Mix
In the Saregama India vs Entertainment Network India product comparison, Saregama India offers: Saregama earns from music licensing royalties, digital streaming revenues, Carvaan device sales and live event ticketing. EPS is Rs 11.47. PE is 46.05x, ROE 12.23 percent, D/E 0.04. Dividend yield is 0.85 percent.
For Entertainment Network India in this Saregama India vs Entertainment Network India breakdown: ENIL earns from FM radio advertising revenue. EPS is -Rs 1.71 (loss-making). ROE is 0.26 percent (near-zero). The company is loss-making.
Saregama India vs Entertainment Network India: Latest Results
The Saregama India vs Entertainment Network India results for Saregama India: Saregama India has a market cap of Rs 10,183 Cr and PE of 46.05x. ROE is 12.23 percent. Saregama is 20 times larger than ENIL by market cap. The contrast between these two companies is stark.
The Saregama India vs Entertainment Network India results for Entertainment Network India: ENIL has a market cap of Rs 510 Cr and is loss-making with EPS of -Rs 1.71. FM radio advertising has been under significant pressure from digital audio competition (Spotify, Gaana, JioSaavn). ENIL is attempting to diversify into digital audio but remains loss-making.
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Saregama India vs Entertainment Network India: Stock and Valuation
The Saregama India vs Entertainment Network India stock comparison uses the latest available market data from Groww. Investors tracking Saregama India vs Entertainment Network India should verify current prices on NSE or BSE before trading.
Saregama vs ENIL at current valuations: Saregama trades at Rs 10,183 Cr market cap, PE 46.05x, ROE 12.23 percent, Div 0.85 percent. ENIL is loss-making at Rs 510 Cr market cap. These two companies are in the same broad audio entertainment space but at very different financial health and market positions.
Saregama India vs Entertainment Network India: Quick Comparison Table
The Saregama India vs Entertainment Network India comparison table below summarises the key metrics covered in this article side by side.
| Parameter | Saregama India | Entertainment Network India |
|---|---|---|
| Sector | Music IP library + Carvaan + digital royalties | FM radio: Radio Mirchi (63 cities across India) |
| Market Cap | Rs 10,183 Cr | Rs 510 Cr |
| P/E Ratio | 46.05x | N/A (loss-making) |
| ROE | 12.23% | 0.26% (near-zero) |
| Profitability | Profitable | Loss-making |
| Debt to Equity | 0.04 | 0.23 |
| Dividend | 0.85% yield | 1.87% yield (from prior year cash) |
Conclusion
The Saregama India vs Entertainment Network India comparison above covers the key data points on reach, products, results and valuation. Saregama India vs ENIL illustrates contrasting fates in India’s audio entertainment sector. Saregama has made a successful transformation from a legacy record label into a modern music IP company whose library becomes more valuable as digital streaming grows. ENIL is a FM radio broadcaster facing structural decline as digital audio replaces FM listening. Saregama vs ENIL investors should note ENIL is loss-making and at much smaller scale. Saregama vs ENIL each represent fundamentally different audio entertainment models – consult a SEBI-registered advisor for personalised guidance.
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Disclaimer: Data and figures in this article are sourced from publicly available information, including company results filings and exchange data, and are current as of the time of writing. 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).
Frequently Asked Questions
What does Saregama India own?
Ans. Saregama India owns rights to India’s largest music catalogue – over one million songs in all major Indian languages including Hindi, Tamil, Telugu, Malayalam, Bengali, Punjabi and Marathi – spanning eight decades.
What is Carvaan?
Ans. Carvaan is Saregama’s retro digital music player – a portable device pre-loaded with 5,000 classic Bollywood songs from Saregama’s library. It targeted nostalgic listeners aged 50+ and became a lifestyle product for gifting.
What is ENIL (Radio Mirchi)?
Ans. ENIL (Entertainment Network India Limited) operates Radio Mirchi FM stations in over 60 cities across India. It is owned by the Times Group (Bennett, Coleman and Co).
Why is FM radio struggling?
Ans. FM radio advertising revenue has declined as digital audio platforms – Spotify, JioSaavn, YouTube Music – offer targeted advertising and on-demand music. Young listeners have shifted from radio to streaming.
Does Saregama benefit from digital streaming?
Ans. Yes. Saregama earns royalties every time a song from its library is played on Spotify, Apple Music, JioSaavn or YouTube. As streaming grows, Saregama’s library generates more royalties automatically.
Are Saregama and ENIL in Nifty 50?
Ans. Neither is in Nifty 50. Saregama is in smaller indices. ENIL is very small.
Which is larger, Saregama or ENIL?
Ans. Saregama at Rs 10,183 Cr is approximately 20 times larger than ENIL at Rs 510 Cr.