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With a market cap of 6,896.80 Cr, Saregama India Ltd. is a mid-size business that operates in the consumer discretionary industry. Saregama India Ltd., a division of the RP Sanjiv Goenka Group, is the oldest music company, film studio, and producer of multilingual digital content in India.

The company has said today in a stock exchange filing that “Pursuant to Regulation 42 of the SEBI Listing Regulations, the Board have approved and declared an interim dividend of Rs.3/- per equity share (i.e. 300% on the face value of Re.1/- each) on the paid-up equity share capital of the Company payable to those members whose names appear in the Register of Members of the Company or will appear as beneficial owners (as per particulars furnished by the Depositories viz., National Securities Depository Limited and Central Depository Services (India) Limited) at the closure of the business hours on Thursday, 2nd February, 2023, being the record date to ascertain the eligibility of members to receive the said interim dividend."

In the quarter that ended in December 2022, Saregama India Ltd. reported consolidated net sales of 185.46 crore compared to 150.34 crore in the quarter that ended in December 2021, reflecting a YoY rise of 23.36%. In Q3FY23, Saregama India's net profit rose 21.01% to 52.52 crore from 43.40 crore in Q3FY22. The company posted an EPS of 2.71 per share in Q3FY23, compared to 2.36 posted in the year-ago quarter.

The shares of Saregama India Limited closed today on the NSE at 361.85 apiece level, up by 3.40% from the previous close of 349.95. The stock recorded a total volume of 303,077 shares compared to the 20-Day average volume of 158,679 shares. The share price today hit a new 52-week low of Rs. 345 per piece, which also serves as its intraday low, and reached an intraday high of Rs. 364. The stock touched a 52-week-high of 539.90 on (19-January-2022), indicating that after touching its 1-year low today, the stock was seen trading at a discount of 32.97% from its 1-year high.

ABOUT THE AUTHOR

Vipul Das

Vipul Das is a Digital Business Content Producer at Livemint. He previously worked for Goodreturns.in (OneIndia News) and has over 5 years of expertise in the finance and business sector. Stocks, mutual funds, personal finance, tax, and banking are among his specialties, and he is a professional in industry research and business reporting. He received his bachelor's degree from Dr. CV Raman University and also have completed Diploma in Journalism and Mass Communication (DJMC).
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