Transcript of Earnings Conference Call

Event Details

  • Type of Event: Q2 and H1 FY27 Earnings Conference Call
  • Date and Time: Thursday, October 15, 2026 (specific time not mentioned)
  • Purpose: Discussion of Unaudited Financial Results for the quarter and half year ended September 30, 2026
  • Host: MUFG Intime Private Limited, Investor Relations Advisors for Tips Music Limited

Management Participants

  • Mr. Kumar Taurani – Chairman and Managing Director
  • Mr. Girish Taurani – Executive Director
  • Mr. Sushant Dalmia – Chief Financial Officer

Key Financial Highlights

Q2 FY27 Performance:

  • Revenue: INR120 crores (vs. INR89.2 crores in Q2 FY26), representing 35% YoY growth
  • Content Cost: INR26.18 crores (almost doubled YoY)
  • Operating EBITDA: INR84.64 crores with 70.5% margin (25% YoY growth)
  • Profit After Tax: INR65.5 crores with 54% margin (23% YoY growth)

H1 FY27 Performance:

  • Revenue: INR227 crores (28% YoY growth)
  • Content Cost: INR71 crores (front-loaded)
  • Profit After Tax: INR109 crores (11% YoY growth)

Operational Highlights

  • Released 73 songs during Q2 (40 film songs, 33 non-film songs)
  • Key performing tracks: Ishqnama (100M+ YouTube views), Aankhon Se Tune 2.0 (66M+ YouTube views), Chunnari Chunnari (100M+ YouTube views), Tere Paas Main female version (strong Spotify performance)
  • Tera Naam Doon catalog track crossed 1 billion views on Instagram
  • YouTube subscriber base: 164.5 million
  • Total views across content library: 54.3 billion

Corporate Actions

  • Completed share buyback amounting to INR44.44 crores through open market
  • Board declared interim dividend of INR6.5 per share

Guidance and Outlook

  • Full-year content cost guidance maintained at INR90-100 crores
  • Management expects to exceed 20% growth guidance for both revenue and PAT
  • Digital revenue contribution: 70-75% range (73% in H1 FY27)
  • Subscription-based revenue: 10-15% of digital pie

Business Updates

  • YouTube Shorts monetization deal still under negotiation (not concluded)
  • Warner partnership continues as expected (25-30% revenue contribution)
  • Warner deal comes up for renewal in FY28
  • Focus remains on core music business (no diversification into artist management or live events)
  • Revenue mix: 85% from content acquired 3+ years ago, 15% from recent acquisitions
  • Market share: 8-10% of industry revenue

Additional Information

  • The company indicated that forward-looking statements involve risks and uncertainties
  • The transcript was filed as required under Regulation 30 of SEBI LODR Regulations, 2015