Financial Performance Summary

Consolidated Financial Highlights (Q1 FY27 vs Q1 FY26):

  • Revenue from Operations: INR 2,636 Mn (27% YoY growth from INR 2,068 Mn)
  • Adjusted EBITDA: INR 1,124 Mn (69% YoY growth from INR 664 Mn)
  • Adjusted EBITDA Margin: 43% (vs 32% in Q1 FY26)
  • PBT (Profit Before Tax): INR 705 Mn (38% YoY growth from INR 510 Mn)
  • PAT (Profit After Tax): INR 519 Mn (42% YoY growth from INR 365 Mn)
  • PAT Margin: 20% (vs 18% in Q1 FY26)
  • Diluted EPS: INR 2.69 (vs INR 1.90 in Q1 FY26)

Segment-wise Performance:

Music Segment (Licensing + Artiste Management + Retail):

  • Revenue: INR 2,306 Mn (39% YoY growth)
  • EBITDA: INR 1,398 Mn (36% YoY growth)
  • Net Margin: INR 996 Mn (31% YoY growth)

Live Events (Concerts + Music Festivals + Devotional):

  • Revenue: INR 160 Mn (214% YoY growth from INR 51 Mn)
  • Growth driven by multi-format strategy including Concerts, Devotional, Experiential and Stand-up Comedy events

Video Segment (Films + TV + Digital Series + Short format):

  • Revenue: INR 170 Mn (52% YoY decline from INR 357 Mn)
  • Decline due to strategic pivot away from own film production to investment in Bhansali Production

Quarterly Operational Highlights:

Content Creation & Distribution:

  • Released 750+ films & non-films tracks across Hindi, Bhojpuri, Punjabi, Tamil, Telugu, Malayalam, Kannada languages
  • Generated 250 Mn+ streams and views across Spotify and YouTube
  • Key releases included Hindi film album "Krishnavataram Part 1: The Heart (Hridayam)" and Malayalam film album "Athiradi"

Artiste Management:

  • Added 33 artistes in Q1 FY27
  • Total artist roster now at 309 artistes
  • Aggregate digital reach of over 440 million followers

Live Events Performance:

  • Devotional format: 22 shows across 11 cities with 32K+ audience (featuring Jaya Kishori, Manoj Muntashir)
  • Stand-up Comedy: 48 shows across 17 cities with 16K+ audience (featuring Viraj Ghelani, Manhar Seth)
  • Experiential: 23 shows across 5 cities with 6K+ audience (Carvaan Live, Carvaan Luxe)

Brand Collaborations & Content Usage:

  • Collaborated with marquee brands including Visa, HUL, Myntra, Godrej, Bharat Matrimony
  • Songs featured in marquee projects including Hindi film Cocktail 2, Raakh (Amazon Prime), Gujarati movie Laalo

Digital Footprint:

  • 680 Mn+ followers and subscribers across YouTube, Instagram and Facebook
  • 190 Mn+ Music followers
  • 50 Mn+ Video followers
  • 440 Mn+ Artistes & creators followers

Content Portfolio Strength:

  • 1,80,000+ Songs owned (master & underlying works, in perpetuity, global territory)
  • 10K+ Hours of TV content across 14+ Indian languages

Carvaan & Retail Strategy:

  • Shifted focus to e-commerce and modern trade
  • Premium product mix with profitability-led SKU rationalization
  • Developing premium vinyl offerings for music collectors and superfans
  • Carvaan sales units not disclosed quantitatively

Television & Digital Content:

  • "Sevanthi" crossed 2,200+ Episode mark, running successfully on Udaya TV
  • Saregama Dice TV Shows (Tamil) garnered 280 Mn+ views on YouTube in Q1 FY27
  • Filtercopy generated 260 Mn+ views from content released in Q1 FY27
  • 10+ brand collaborations in Q1 FY27

Balance Sheet Position (as at 30th June 2026):

  • Net Worth: INR 17,547 Mn (vs INR 16,927 Mn as at 31st March 2026)
  • Total Assets: INR 24,084 Mn (vs INR 23,220 Mn)
  • Cash and Cash Equivalents: INR 427 Mn (vs INR 282 Mn)
  • Borrowings (Current): INR 550 Mn (represents temporary use of WC limits)
  • Borrowings (Non-current): INR 95 Mn
  • Investments: INR 3,095 Mn (Non-current) + INR 850 Mn (Current)

Cash Flow Highlights (Q1 FY27):

  • Net cash generated from Operating Activities: INR 781 Mn
  • Cash spent on New Content acquisition: INR 444 Mn
  • Net cash used in Investing Activities: INR (552) Mn
  • Net cash used in Financing Activities: INR (76) Mn
  • Net Increase in Cash: INR 153 Mn

Management Commentary:

Avarna Jain, Vice Chairperson, stated: "We have started the new financial year on a strong note, delivering healthy financial performance while continuing to strengthen our Entertainment Flywheel. Our integrated ecosystem across music, video, live events and artiste management enables us to maximise the value of our intellectual property and positions us well for sustainable long-term growth."

Future Outlook:

  • Continue working with Sun TV across languages
  • Develop shows for Doordarshan
  • Upcoming releases include "Vishwambhara" (Telugu)