Announcement
Post Buyback Public Announcement 1 Oct - Inga Ventures Pvt Ltd ("Manager to the Buyback Offer") has submitted to BSE a copy of Post Buyback Public Announcement for the attention of Shareholders …
Source: Bse
Tips Music Limited (TIPSMUSIC)
Micro CapMedia stocks · Micro cap · NSE
Tips Music Limited, founded in 1988, is an Indian media & entertainment company. It is a debt-free company with ₹345 Cr cash & investments (Q1FY27), 96 employees, and 158.3 Mn YouTube subscribers. 75% of its revenue is from digital platforms. The company expenses 100% of content cost in the quarter of release.
Data qualityFresh enough for analysisQuote updated 21 Oct, 02:00 pm ISTDetails
Quote21 Oct, 02:00 pm IST
Base fundamentals18 Oct 2026 · screener
Official result overlay30 Sept 2026 · nse-xbrl
Latest result15 Oct, 01:48 pm IST
Score21 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags02 May 2026
Coverage13/14 · 93%
Valuation2026-07-20 · Rf 6.8% · Media P/E 15.0 (n=57)
Technical timing lens
Trend score and candlestick chart
91Strong Bullfull bull SMA stack · SMA20 +3.2% / mo · MACD + · near 52W high · sector +14.2pp vs Nifty 500 (3M)
Stock trend: 85
Sector RS: 100
Sector 3M: +8.1% vs Nifty 500 -6.1%
Media FPI tailwindBuilding
Latest FPI flow is positive, but a second consecutive positive fortnight is still required. View sector evidence
Technical chart
TIPSMUSICD candles · FIT view+13.8%TODAY · PROVISIONALLatest price ₹750.05 on 2026-10-21
Today's candle is provisional from the latest intraday quote; completed-candle scans remain unchanged.
Bar
-3.2%
RSI
64
MACD hist
12.15
52W pos
88%
2026-10-21O ₹775.00H ₹780.25L ₹742.00C ₹750.05Vol 5.7L shIntraday candle
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
TIPSMUSICNifty MediaNifty 500
- TIPSMUSIC
- +8.6%
- Nifty 500
- -5.6%
- Nifty Media
- +7.0%
- Vs Nifty 500
- +14.2 pp
Chart stats
19 Oct 2026- From 52W high
- -1.7%
- 52W range position
- 96%
- ATR (14)
- 4.0%
- Volume vs 20D
- 4.65x
- Avg traded value
- ₹54.9 Cr
- 20D price channel
- ₹616.1 - ₹785
₹785
₹481.2 - ₹785
₹30.8
Latest completed session
20-session average
52.6% annualized volatility
Research snapshot
What the evidence says now
Mixed fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend supports entry, and recent execution is mixed.
Suggested next step
Research, do not rush
The evidence is not strongly aligned. Compare peers and wait for a cleaner setup.
U-Score
Legacy · FAIR VALUE56
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Good62
Revenue +34.9% · PAT +24.0% YoY
Technical
Strong Bull91
Price trend and sector-relative-strength timing.
Valuation
Legacy model-87.6%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence80
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Sept 2026
Good · 62/100Rev +35% YoY · PAT +24% YoY · +13% QoQ · margin compression
Filed 15 Oct 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹120.1 Cr | +34.9% | +12.7% |
| EBITDA | ₹84.7 Cr | +24.5% | +58.1% |
| Operating margin | 70.5% | -549 bps | +2023 bps |
| PAT | ₹65.7 Cr | +24.0% | +50.4% |
| PAT margin | 54.8% | -479 bps | +1373 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 41.80
- P/B
- 29.41
- EV/EBITDA
- 32.43
- Market Cap
- 9498.00Cr
Profitability
- ROE
- 87.60%
- ROCE
- 118.00%
- ROA
- 55.37%
- Dividend Y
- 2.04%
Growth (CAGR)
- Revenue 5Y
- 33.00%
- EPS 5Y
- 37.00%
- Revenue 3Y
- 26.00%
- EPS 3Y
- 39.00%
Balance Sheet
- Debt/Equity
- 0.01
- Interest Coverage
- —
- Altman Z
- 10.04
- Book Value
- 25.40
Cash Flow
- FCF Yield
- 1.41%
- FCF Positive Y
- 11/5
- OCF
- 197.00 Cr
- EPS TTM
- 17.77
Shareholding
- Promoter Hold
- 3.00%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 96%
Financial History
Updated 20/10/2026
Revenue
₹ CrLatest: 376+20.9% vs prev
Net Profit
₹ CrLatest: 217+29.9% vs prev
Return on Equity
%Latest: 83.5+5.0% vs prev
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Bullish setupTrend is constructive — long-term uptrend intact. RSI 64.
- Price > SMA20 > SMA50 > SMA200 — full bullish stack.
- SMA20 rising (~3.7% over last month) — short-term momentum positive.
- RSI(14) at 64 — sideways, no extreme reading.
- MACD above signal, histogram expanding — bullish momentum building.
- 4% off 52W high · 56% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Valuation & peers
U-Score 56 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Valuation & peers
U-Score 56 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Premium Compounder
Fundamental score breakdown
U band · FAIR VALUEValuation0/30
Growth19/25
Quality20/20
Balance Sheet7/15
Cash Flow6/10
Piotroski
7/9 (+5)
Penalties
-1
Raw sum
56
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
56/100 · legacy band FAIR VALUE
Positive drivers
- Piotroski is strong at 7/9.
- Quality contributes 20/20 to the score.
- Growth contributes 19/25 to the score.
Main drags
- Penalty bucket subtracts 1 points.
- Fair-value margin of safety is negative at -87.6%.
- Valuation is weaker at 0/30; verify the latest quarterly trend.
Sector valuation model
Blended valuation: PE, EV/EBITDA, FCF yield, and balance-sheet checks
For this sector, IndiaPulse uses a blended lens rather than relying on a single valuation ratio.
Primary lens
PE, EV/EBITDA, margin of safety, and FCF yield together.
Secondary checks
ROE/ROCE, growth, cash conversion, leverage, promoter risk.
Main risk check
One cheap metric is not enough if quality or cash flow is weak.
PE
41.8
PB
29.4
EV/EBITDA
32.4
ROE
87.6%
ROCE
118.0%
FCF Yield
1.4%
Debt/Equity
0.0
MoS
-87.6%
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 21 Oct 2026
v4.3-runtime-valuation
Final score
56
Previous: 56
Legacy U-Score band
FAIR VALUE
Previous: FAIR VALUE
Margin of safety
-87.6%
Previous: -93.0%
Score history
12 stored score snapshots. Latest stored move: +0 points.
21 Oct 2026
v4.3-runtime-valuation
57
57
57
57
57
57
57
57
56
56
56
56
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹100.77
-644.3% MoS
Growth-justified P/E
22.5
Growth-justified Value
₹399.83
-87.6% MoS
PEG
1.11
Comparable companies
Peers
Business-comparable peers in Media — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
SAREGAMA
Large
Saregama India Limited
Media & Entertainment
match 86
37
42.8
12.7%
-64%
WATCHLIST
NAZARA
Micro
Nazara Technologies Limited
Media & Entertainment
match 59
49
—
30.6%
—
FAIR VALUE
AMAGI
Small
Amagi Media Labs Limited
Media & Entertainment
match 55
29
123.0
10.3%
-358%
OVERVALUED
PVRINOX
Large
PVR INOX Limited
Media & Entertainment
match 54
37
42.7
4.9%
-38%
WATCHLIST
NPST
Small
Network People Services Technologies Limited
Media & Entertainment
match 53
48
85.6
15.0%
-269%
FAIR VALUE
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Where growth can come from, and what can break the case
Thesis under stressReviewed 2026-07-23T07:10:48.073Z
Management commentary snapshot
Q1FY27 revenue grew 21% YoY to ₹106.5 Cr, but operating EBITDA declined 5% YoY to ₹53.5 Cr, with margins contracting 1390 bps to 50.3%. PAT fell 4% YoY to ₹43.9 Cr, primarily due to a 90% YoY surge in content costs.
While revenue growth remains robust, the significant increase in content cost has eroded Q1FY27 profitability. The 90% YoY rise in content cost, fully expensed in the release quarter, pressured Op. EBITDA and PAT, raising questions about future margin sustainability.
Current business mix
Revenue by Platform
Latest issuer-disclosed distribution across 2 reported categories.
Digital Platforms75.0%
Other Platforms25.0%
Growth engines
Subscription Monetization
PositiveIndustry subscription revenue is growing approx. 40-50% CAGR; Spotify India paid subscribers expected to reach 150 million.
Monetization of Shorts
PositiveShorts consumption far exceeds other digital formats; monetization can significantly step up revenues.
Public Performance Rights
PositiveIndustry revenue growing approx. 40-50% CAGR, expected to surpass INR 2,500-3,000 crores over the next 5 years.
Royalty from AI
PotentialMusic industry aims to create a legal framework for training AI on copyrighted music and ethical AI use.
Capacity and execution
New Music Releases
Ongoing73 new releases in Q1FY27.
Tailwinds
Growing Digital Ad Industry
PositiveIndian digital advertising industry reached ₹71,621 crore in 2025, projected to grow at 17% CAGR (CY25-CY27).
Digital Media Dominance
PositiveDigital media is expected to account for 70% of total ad spend in India by the end of 2027.
High Digital Engagement
PositivePeople in India spend about 1.2 trillion hours (+9%) on phones; YouTube is India’s largest ad-supported online video platform.
Risk radar
Content Cost Volatility
ConcernContent cost surged 90% YoY in Q1FY27 to ₹44.6 Cr, significantly impacting operating margins.
Indian Streaming ARPU
StructuralGlobal music labels earn 50-90 paise per stream, whereas labels in India earn 4-10 paise per stream.
Management accountability
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Analyst reading lens
Compare BOTH
YoY comparison is essential for seasonal businesses like media to account for cyclical trends. QoQ is also relevant to track sequential momentum, especially given the significant content cost fluctuations and their immediate expensing.
Sector KPIs management disclosed
Annual YouTube Views
PositiveFY26: 210.4 Billion, +37% YoY (FY22-FY26 CAGR).
Quarterly YouTube Views
PositiveQ1FY27: 57.4 Billion, up from 56.7 Billion in Q1FY26.
New Songs Added
Ongoing73 new releases in Q1FY27, compared to 399 in FY26.
Digital Revenue Share
Positive75% of revenue through digital platforms (Q1FY27).
Management forward view
Optimizing Capital Allocation
StrategicCompany is optimizing capital allocation through buybacks and dividends, reducing equity shares by 26% since 2009.
Increasing Market Share
GoalRevenues surged 2x in the last 3 years, aiming for sustainably increasing market share.
Content Strategy
StrategyEvergreen & rich content of over 38,000 songs across genres, languages & decades, providing high visibility of music revenue.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Operating EBITDA Margin | 50.3% (Q1FY27) | Stabilization or improvement in margins, given the content cost expensing policy. |
| Content Cost Growth | +90% YoY (Q1FY27) | Moderation in content cost growth relative to revenue growth to support profitability. |
| New Music Releases | 73 (Q1FY27) | Consistent pipeline of new content to maintain listenership and digital engagement. |
| Digital Revenue Share | 75% (Q1FY27) | Continued growth in digital revenue share and monetization from new avenues like Shorts and AI. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
80Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 90th percentile of the scored universe and 99th percentile within Media. No major sub-score weakness stands out.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
92 docs text-extracted · 34 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
90th percentile
overall median 67 · Media: 99th pctile, median 63 · Micro: 81st pctile, median 73
Evidence depth
Financial-only
92 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Can support position sizing if valuation and trend also agree.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
66
acceptable · holding, pledge, alignment
Cash flow
77
strong · profit to cash conversion
Balance sheet
88
strong · leverage and solvency
Discipline
98
strong · capital discipline
Results
69
acceptable · quarterly consistency
Trust positives
- ▸Promoter pledge is zero.
- ▸FCF yield is positive at 1.6%.
- ▸11 years of positive FCF.
- ▸Debt/equity is 0.02.
Trust risks
- ▸Promoter holding is only 3%.
- ▸OPM spread across recent quarters is 31%.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Tips Music Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Announcement
Announcement under Regulation 30 (LODR)-Daily Buy Back of equity shares 25 Sep
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 24 Sep
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 23 Sep
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Daily Buy Back of equity shares 18 Sep
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Daily Buy Back of equity shares 17 Sep
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 17 Sep
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Daily Buy Back of equity shares 15 Sep
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 7 Sep
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 12 Aug
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 10 Aug
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 17 Jul - Intimation of Schedule of call with analyst(s) / institutional investor(s)
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.