Saregama India - Valuations Demanding Post Sharp Run-Up: ICICI Direct
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ICICI Direct Report
Saregama India Ltd.'s revenue for Q4 FY21 increased 13.6% YoY to Rs 123.5 crore with growth led by the TV and films segment, which was up 27.8% YoY.
Carvaan sales volumes were up ~49% YoY to 110,000 units in Q4 FY21, on a depressed base.
Ebitda grew 59.9% YoY (down 14% QoQ) to Rs 34.4 crore with Ebitda margin at 27.8% (up 806 basis points YoY and down 205 basis points QoQ, respectively).
Cost reduction, mainly in promotion costs for Carvaan and lower other expenses (lack of new content), led to strong growth in operating profit YoY.
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