SAREGAMA INDIA LIMITED – Investor Presentation Summary

Key Operational Highlights

  • Released 650+ films & non-films tracks in Q2 FY27 across Hindi, Bhojpuri, Punjabi, Tamil, Telugu, Malayalam, Kannada languages
  • Added 54 artistes in Q2 FY27, taking total roster to 340 artistes with aggregate digital reach of over 450 million
  • Digital footprint across managed artistes, owned and controlled channels beyond 700 Mn+ followers and subscribers across YouTube, Instagram and Facebook
  • Key music releases included Telugu film album "The Paradise" starring Nani, Tamil film album "Meesaya Murukku 2" starring Hiphop Tamizha, and non-film songs like "Bari" in Punjabi, "Aa Fariyale" in Bhojpuri
  • Collaborated with marquee brands including Google, Cadbury, Apple, Tanishq, Reliance for integrated campaigns

Segment-wise Performance

Music [Licensing + Artiste Management + Retail]: Revenue at ₹2,513 Mn (35% YoY growth), EBITDA at ₹1,540 Mn (37% YoY growth), Net Margin at ₹1,165 Mn (46% YoY growth)

Live Events [Concert + Devotional + Stand-Up Comedy + Experiential]: Revenue at ₹447 Mn (101% YoY growth), supported by higher number of events including Ilaiyaraaja concert series "Raja 50" (11 shows, 11 cities, 20K+ audience), devotional events (17 shows, 6 cities, 25K+ audience), stand-up comedy (21 shows, 16 cities, 4K+ audience), and experiential events (54 shows, 4 cities, 10K+ audience)

Video [Films + TV + Digital Series + Short format]: Revenue at ₹183 Mn (16% YoY moderation), with continued calibrated approach focusing on selective content investments and monetization opportunities

Financial Highlights

Revenue: ₹3,143 Mn (37% YoY growth, 19% QoQ growth)

Adjusted EBITDA: ₹1,180 Mn (39% YoY growth, 5% QoQ growth)

PAT: ₹642 Mn (47% YoY growth, 24% QoQ growth)

EPS: ₹3.36 (diluted)

Margins: Adjusted EBITDA Margin 38%, PAT Margin 20%

Revenue Breakdown:

  • Music Licensing + Artiste Management: ₹2,302 Mn (39% YoY, 8% QoQ)
  • Music Retail: ₹211 Mn (2% YoY, 21% QoQ)
  • Video: ₹183 Mn (-16% YoY, 8% QoQ)
  • Live Events: ₹447 Mn (101% YoY, 179% QoQ)

Drivers of financial performance: Strong growth in music business, significant expansion in live events portfolio, improved monetization of IP across formats

Geographical Revenue Split

Not Specified

Balance Sheet Snapshot

As at 30th September 2026:

  • Net Worth: ₹18,207 Mn
  • Shareholder's Fund: ₹18,207 Mn (Equity share capital: ₹193 Mn, Other equity: ₹18,014 Mn)
  • Non-current Assets: ₹14,668 Mn (Property, plant and equipment: ₹2,342 Mn, Goodwill: ₹2,939 Mn, Other intangible assets: ₹5,207 Mn, Investments: ₹3,135 Mn)
  • Current Assets: ₹9,745 Mn (Inventories: ₹2,444 Mn, Trade receivables: ₹2,028 Mn, Cash and cash equivalents: ₹436 Mn, Bank balances: ₹1,041 Mn)
  • Non-current Liabilities: ₹1,039 Mn
  • Current Liabilities: ₹5,144 Mn
  • Net Debt: Minimal (Current borrowings: ₹88 Mn, Non-current borrowings: ₹0)

Financial Health Insights: Strong cash position, minimal debt, healthy equity base

Capex & Cash Flow Health

H1 FY27 Cash Flow:

  • Net cash from Operating Activities: ₹2,857 Mn
  • Net cash used in Investing Activities: ₹2,062 Mn (including ₹1,850 Mn spent on new content acquisition/production)
  • Net cash used in Financing Activities: ₹651 Mn
  • Net increase in Cash: ₹144 Mn

Capital Expenditure: Significant investment in content acquisition with ₹1,850 Mn spent on new Music IPs in H1 FY27

Investment Rationale: Focus on acquiring and producing Music IPs to expand proprietary content library

Strategic & R&D Initiatives

Proprietary IP: 1,80,000+ songs owned (master & underlying works, in perpetuity, global territory), 10K+ Hours of TV content in 14+ Indian languages

Digital Fanbase Strategy: Building direct, owned audience of 700 Mn+ subscribers & followers across portfolio

Carvaan Product: Carvaan 3.0 launch expanding product portfolio, sustained retail profitability with improving volumes

Vinyl Business: Scaling premium vinyl offerings to cater to growing demand from music collectors and superfans

Expected impact on growth: Continued monetization of owned IP across multiple formats and platforms

Industry Trends & Business Environment

Macro/Industry Trends: India's digital boom opening up new formats for content monetization, growing demand for regional language content, expansion of live events market

Impact on Company: Leveraging digital platforms to reach wider audience, expanding regional content portfolio, diversifying revenue streams across music, live events, and video

Management Commentary & Growth Outlook

Strategic Outlook: "We continued to build on our growth momentum during the quarter, supported by the performance of our music business and the expansion of our presence across live events and other entertainment formats. Our focus remains on maximising the value of our intellectual property through multiple monetisation avenues, while maintaining financial discipline and investing in opportunities that support sustainable long-term growth." - Avarna Jain, Vice Chairperson

Future Outlook: Continue working with Sun TV across languages, develop shows for Doordarshan, pursue calibrated approach to video business focusing on selective content investments

Risks and Opportunities: Pivoting away from own film production to investment in Bhansali Productions, focusing on content that leverages existing IP and artist relationships

ESG Updates

Not Specified

Digital Transformation

Not Specified