Saregama India Ltd: India’s premier music publishing label

(vigneshb) #21


I was referring to this table below from FY17 AR.


The remuneration to Viram (Rs.5.3 crores) is way over the ceiling of Rs.1.78 crores. However, in the most recent annual report FY18 I note that they have retrieved this money back. I haven’t really worked out how/why. But there is a note on the FY18 AR.


Vikram is the jockey here so I am ok if he gets his legitimate due. He is a fantastic choice for an organisation which needs to monetize/market its irreplaceable assets. He is not getting ESOP but stock appreciation rights in cash. He is the same guy who launched a new car Tata Indica and launched TataSky from scratch. Now he has launched an entirely new product i.e. Caravaan. A new category out of nowhere which could clock 200cr of EBIT within 2 yrs of launch.

BTW, I just checked out their latest version of Carvaan which can be operated through an APP selling for 7300/piece. Good margin kicker for sure and selling well as far as I could gather.

Disc: Invested