Mission Statement, Vision, & Core Values (2025) of Saregama India Limited.

An Overview of Saregama India Limited

An Overview of Saregama India Limited

Saregama India Limited, a renowned name in the Indian entertainment sector, was established in 1901. Originally founded as The Gramophone Company of India Ltd, the company has undergone significant transformation over the decades. Today, Saregama is primarily recognized for its vast music library, which includes over 1.5 million songs, spanning various genres and languages. Additionally, the company has diversified into film production, publishing, and digital content services.

As of 2024, Saregama has expanded its offerings to include music streaming through its platform, Carvaan, a digital audio player that provides access to curated playlists. The company reported total sales of approximately ₹700 crores in the fiscal year 2023-2024.

Company's Financial Performance in Latest Financial Reports

In the latest quarterly earnings report for Q3 FY 2023-2024, Saregama India Limited announced a record-breaking revenue of ₹250 crores, marking an increase of 30% compared to the same period last year. This growth was primarily driven by the surge in digital music sales and the continued popularity of the Carvaan product line.

The gross profit margins improved to 60%, reflecting the company's efficient cost management and increasing demand for its digital offerings. The net profit for the same quarter stood at ₹75 crores, a substantial rise of 25% year-on-year.

Below is a summary of Saregama's key financial metrics from the latest reporting period:

Introduction to Saregama as an Industry Leader

Saregama India Limited stands out as one of the leading companies in the Indian music and entertainment industry. Strategically positioned to leverage the digital transformation in the entertainment sector, the company has adapted to market changes by embracing new technologies and platforms. Saregama's ability to maintain strong relationships with various stakeholders, including artists, linguists, and content creators, has further solidified its reputation.

The company has effectively utilized its extensive catalog and robust distribution network, enabling it to capture a significant market share in digital music streaming. As of 2024, Saregama continues to invest in innovative products and services that cater to changing consumer preferences, ensuring sustained growth in a competitive landscape.

To understand more about why Saregama is successful and its trajectory in the industry, further exploration of its strategic initiatives and market adaptations is encouraged.

Mission Statement of Saregama India Limited

Mission Statement of Saregama India Limited

Saregama India Limited's mission statement is pivotal in shaping its strategic direction and operational goals. The company aims to leverage its rich heritage in music and storytelling to deliver high-quality products and services that resonate with consumers in India and across the globe. This mission statement not only reflects the commitment to excellence but also emphasizes innovation and cultural connection in its offerings.

Core Component 1: Quality Products

The commitment to quality products is central to Saregama's mission. The company produces music, films, and digital content that meet stringent quality standards. In FY 2022-23, Saregama reported a robust revenue growth of 35%, reaching approximately ₹500 crore. This growth can be attributed to the introduction of high-fidelity music formats and the expansion of its catalog.

Core Component 2: Innovation

Innovation drives Saregama’s offerings in a competitive market. The company has invested significantly in digital transformation, launching products like the Saregama Carvaan, a digital audio player that includes over 5,000 pre-loaded songs. In the first quarter of 2023, Carvaan sales surpassed 100,000 units, showcasing the successful integration of technology and user experience.

Core Component 3: Cultural Connection

Saregama emphasizes cultural connection through its vast library of Indian music. As of 2023, the company holds rights to over 1.5 million songs, spanning various genres and languages, catering to diverse audience preferences. The company’s partnerships with streaming platforms, such as Spotify and Apple Music, have expanded its reach, driving a user base growth of 25% year-on-year.

Vision Statement of Saregama India Limited

Vision Statement Overview

Saregama India Limited's vision is to be a leading integrated music and entertainment company, leveraging technology to deliver a diverse range of content. As of 2024, their vision emphasizes innovation, audience engagement, and a strong digital presence.

Focus on Digital Transformation

Saregama aims to revolutionize the music industry with robust digital strategies. In 2024, the company targets a 40% increase in digital revenue, driven by their streaming platforms and mobile applications.

Global Reach and Expansion

Part of Saregama's vision includes expanding its international presence. The company plans to increase its footprint in overseas markets, with a goal of achieving 25% of total revenue from international operations by 2025.

Emphasis on Content Diversity

The company envisions a portfolio with a broad spectrum of content. They aim to produce over 500 new songs annually, including regional and international collaborations, enhancing their catalogue significantly.

Commitment to Innovation

Saregama’s vision underlines the importance of technology in delivering entertainment. The company has allocated ₹200 crore for technology investments in 2024 to enhance user experience and content delivery platforms.

Sustainability and Social Responsibility

Saregama includes sustainability in its vision, committing to eco-friendly practices and community engagement. In 2024, they plan to initiate 10 new projects focused on social responsibility, including music education programs.

Financial Performance Metrics

Core Values of Saregama India Limited

Customer Centricity

Saregama India Limited places a strong emphasis on customer centricity, which is integral to its business model. By focusing on understanding and fulfilling the needs of its customers, the company has developed various initiatives to enhance engagement and satisfaction.

In the financial year 2023, Saregama reported a 15% increase in user engagement on its digital platforms, demonstrating its commitment to understanding consumer preferences. The launch of the Carvaan device, which combines nostalgia with modern technology, led to the sale of over 1.5 million units since its inception in 2018. This innovative product reflects the company's dedication to customer-centric offerings.

Innovation

Innovation is a core value that drives Saregama's growth and market relevance. The company continuously strives to enhance its product offerings and explore new avenues in digital content.

In 2024, Saregama launched its new subscription-based music streaming service, which garnered over 2 million subscribers within the first six months. The service has not only expanded its customer base but also reinforced its position in the digital music space. Furthermore, Saregama invested ₹100 crores in research and development for new technologies in music production and distribution.

Integrity

Integrity is paramount at Saregama. The company is committed to maintaining ethical standards in all its business dealings, which builds trust with its stakeholders.

In 2023, Saregama was awarded the Best Corporate Governance Award by the Institute of Company Secretaries of India (ICSI). This accolade highlights the company’s adherence to ethical practices and transparency. Additionally, the company’s compliance with the Corporate Social Responsibility (CSR) mandate saw it invest ₹10 crores in community development projects across various states.

Creativity

Creativity is at the heart of Saregama's operations, particularly in music production and content generation. The company encourages artists and creators to explore their talents and push boundaries.

In 2024, Saregama collaborated with over 500 artists across diverse genres, leading to the release of more than 1,000 new tracks. The company's commitment to creative expression is also demonstrated through its participation in international music festivals, further enhancing its global footprint.

Excellence

Saregama strives for excellence in all its endeavors, focusing on delivering high-quality products and services to its customers.

In the fiscal year 2023-24, the company reported consolidated revenues of ₹800 crores, marking an increase of 18% year-on-year. This financial performance underscores its pursuit of excellence in operational efficiency and product quality.

The company's audio products received numerous industry accolades, including the Best Audio Brand Award at the India Electronics and Consumer Goods Awards, which reflects its commitment to maintaining high standards.