Scripscan:Saregama India Ltd
cmp:43
Traded in:Nse-bse
Story:Saregama is set to script a turnaround, piggybacking on the emergence of new entertainment media. It has diversified into digital music, internet radio and online music sales. With a new management and more focus on new income streams such as FM and mobile ring tones, Saregama’s film and home video division will contribute handsomely, following key tie-ups with big international studios. Re-entry into the film distribution and production space and 14 hours/week of TV content production will drive growth for the non-music segment.Given the robust growth in the high-margin business like publishing and home video, coupled with effective utilisation of the music library, Saregama should command improved valuations given its high earnings visibility. At the current price of Rs 43, the stock trades at a P/E of 3x FY10E EPS of Rs 14.At the current market price of 43rs its a great buy.
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Tuesday, March 3, 2009
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