Saregama India Limited · NSE:SAREGAMA
Saregama India — FY2025 Earnings Presentation
34 slides from Saregama India's earnings presentation, May 15, 2025
Slide 1: Regulation 30 filing cover letter to stock exchanges
Date: 15th May, 2025 The Manager, The General Manager, Listing Department, The Listing Department National Stock Exchange of India Limited BSE Limited Exchange Plaza, C-1, Phiroze Jeejeebhoy Towers, Block G, Bandra – Kurla Complex, Dalal Street, Bandra (East), Mumbai – 400 051 Mumbai – 400 001 Symbo
Slide 2: Saregama posts highest ever revenue in FY25
Saregama posts highest ever Revenue of Rs. 11,713 Mn in FY25 registering a YOY growth of ~46% alongwith Adjusted EBITDA of Rs 3,566 Mn at YOY growth of 18% Building IP for Tomorrow Mumbai, May 15th, 2025: Saregama, a RPSG Group company, announced its financial results for the Quarter and Twelve Mont
Slide 3: About Saregama India Limited and RPSG Group
Avarna Jain, Vice Chairperson Saregama India, said “Another path breaking year for Saregama with highest ever revenue from operations, driven by clear strategy of aggressive investments and diversification of IP monetization, including music, video and live events. The company stands on the cusp of
Slide 4: Saregama India Limited
QUARTERLY PRESENTATION | Q4 FY25 SAREGAMA INDIA LIMITED | QUARTERLY PRESENTATION | Q4 FY25
Slide 5: Saregama strengths
QUARTERLY PRESENTATION | Q4 FY25 Saregama strengths India’s only entertainment company with IP offerings across media channels (music, films, web series, short-format and TV serials), delivery platforms (digital and physical) and business models (licensing, advertising and retail) Large IP portfolio
Slide 6: Key financial metrics
QUARTERLY PRESENTATION | Q4 FY25 Saregama | Key financial metrics Revenue From Operations (INR Mn) Adjusted EBITDA (INR Mn) PBT(INR Mn) 43% CAGR 23% CAGR 40% CAGR 2,708 2,761 3,566 11,713 2,481 3,029 2,712 2,044 8,030 2,230 7,366 1,519 5,806 5,4475,215 1,451 4,420 847 3,566 786 763 603 2,185 511 389
Slide 7: Global Industry Highlights
QUARTERLY PRESENTATION | Q4 FY25 GLOBAL INDUSTRY HIGHLIGHTS 4
Slide 8: The growth of global music industry continues
QUARTERLY PRESENTATION | Q4 FY25 The growth of global music industry continues Global recorded music revenue grew 4.8% to reach USD29.6 bn in 2024 0.6 0.6 2.9 0.6 2.7 0.8 0.5 0.9 2.5 2.3 0.9 0.6 0.7 0.4 1.1 0.4 0.7 0.9 2.2 0.3 0.8 0.4 0.9 0.9 2.4 0.4 1.2 1.8 1.1 2.5 0.1 1.2 0.3 1.4 20.4 2.5 0.3 0.3
Slide 9: Subscription business is growing globally
QUARTERLY PRESENTATION | Q4 FY25 Subscription business is growing globally Spotify posts record-high operating profit for Q1 $509 Mn; subscriber base grows to 268 Mn paid users Premium subscribers breakup Source: Spotify Q1 25 Published Results
Slide 10: Indian Media & Entertainment sector expected to grow at 7% pa
QUARTERLY PRESENTATION | Q4 FY25 Indian Media & Entertainment sector is expected to grow at 7% pa on the back of digitisation; Saregama has a play in multiple verticals of the Sector MUSIC VIDEO LIVE EVENTS ARTIST / INFLUENCER MANAGEMENT Industry size (2024): INR 32,000 Mn Film industry size (2024):
Slide 11: India's Influencer Marketing Industry expected to grow at 24% CAGR
QUARTERLY PRESENTATION | Q4 FY25 India’s Influencer Marketing Industry is expected to grow at 24% CAGR to reach INR 33,750 Mn As 40% of the time spent on mobile phones is on social media platforms, Influencer marketing is the way forward for all the marketers 33,750 Indian Influencer Marketing Size
Slide 12: Company Overview
QUARTERLY PRESENTATION | Q4 FY25 COMPANY OVERVIEW 9
Slide 13: Segmental Growth
QUARTERLY PRESENTATION | Q4 FY25 Segmental Growth 21% CAGR 22% CAGR 6,104 6 ,2 0 0 5,441 1,920 4 ,7 0 0 4,410 3,585 1,159 3 ,2 0 0 2,839 1,024 1,085 2,361 702 1 ,7 0 0 521 2 0 24% FY20 FY21 FY22 FY23 FY24 FY25 FY20 FY21 FY22 FY23 FY24 FY25 * One time income of INR 84Mn in FY23, INR 97Mn in FY22, INR
Slide 14: Our licensing partners
QUARTERLY PRESENTATION | Q4 FY25 Our licensing partners Streaming Partners Broadcasting Partners Video Streaming Partners Music Music + Films & Series Music + Films & Series vO uVid v Social Media Platforms Brands Music + Films & Series Music 11
Slide 15: Operational Highlights
QUARTERLY PRESENTATION | Q4 FY25 OPERATIONAL HIGHLIGHTS 12
Slide 16: Music: Licensing + Artist management revenue per quarter
QUARTERLY PRESENTATION | Q4 FY25 Music : Licensing + Artist management Revenue per quarter (INR Mn) 1 ,9 0 1,712 1 ,7 0 1,616 1,577 1 ,5 0 1,480 1,319 1,331 1 ,3 0 1,217 1,198 1,178 1,125 1 ,1 0 1,079 1,028 992 927 9 0 882 786 7 0 5 0 Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY22 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Q
Slide 17: Music: Licensing
QUARTERLY PRESENTATION | Q4 FY25 Music : Licensing • OTT: Progressive shift seen as paid subscription replaces free consumption. Strong revenue growth in medium to long-term despite short term pressure (due to minimum guarantees going away) • Brand Licenses: Tata Motors, Dream 11 , Indriya Jewels, A
Slide 18: Investment in Content
QUARTERLY PRESENTATION | Q4 FY25 Investment in Content (INR Mn) ~10,000 Mn Investment in Content includes marketing costs on new content
Slide 19: Major film albums released in FY25
QUARTERLY PRESENTATION | Q4 FY25 Major film albums released in FY25 - Building IP for tomorrow Box Office Collection Film Language No. of Songs Production House Star Cast (Rs. Cr) Stree 2 Hindi 04 Jio Studios, Maddock Shraddha Kapoor, Rajkumar 850+ Films Rao,Pankaj Tripathi,Tamannaah Bhatia Bad Newz
Slide 20: Music: Licensing | Chartbusters of FY25 (Hindi)
QUARTERLY PRESENTATION | Q4 FY25 Music : Licensing | Chartbusters of FY25 HINDI
Slide 21: Music: Licensing | Chartbusters of FY25
QUARTERLY PRESENTATION | Q4 FY25 Music : Licensing | Chartbusters of FY25 TELUGU TAMIL MALAYALAM
Slide 22: Music: Licensing | Inorganic Catalogue Acquisition
QUARTERLY PRESENTATION | Q4 FY25 Music : Licensing | Inorganic Catalogue Acquisition 7 M+ Subscribers 22 Labels 2,800+ songs 7 Languages Gujarati - Jignesh Barot, Jannat Video Patan | Punjabi - Desi Swag | Rajasthani - Ram Kumar Maluni, Gajendra Ajmera Chhattisgarhi - SA Music, Maya Music | Devotion
Slide 23: Music: Artist management
QUARTERLY PRESENTATION | Q4 FY25 Music : Artist management Maahi Rj Karishma RJ Princy Tony Kakkar Paradox Lash Curry Rehaan Roy 15.3 Mn Followers 4.5 Mn Followers 8.2 Mn Followers 2.2 Mn Followers 593 K Followers 6.3 Mn Followers Pragati Nagpal Rinkal Parekh Saurabh Ghadge Viraj Ghelani The Tabla G
Slide 24: Music: Retail
QUARTERLY PRESENTATION | Q4 FY25 Music : Retail • Transition from sales through distribution channel to sales only through E-commerce and Modern Retail outlets Carvaan Sales (units '000s) • While the volumes and topline will shrink, profitability margins 1 9 0 199 improves through control of costs a
Slide 25: Video: Films, TV & Digital Content, upcoming releases
QUARTERLY PRESENTATION | Q4 FY25 Video : Films, TV & Digital Content • Bazooka: Superstar Mammootty seen in a stylish avatar in Upcoming releases the first ever Malayalam Game Thriller A. Films • Dilruba: High octane massy entertainer with themes of romance, drama, and action • Party Animals: A cape
Slide 26: Video: Digital Content
QUARTERLY PRESENTATION | Q4 FY25 C. Digital Content Video : Films, TV & Digital Content 22 M+ Followers & Subscribers 3 M+ Followers & Subscribers 8 M+ Followers & Subscribers 6 M+ Followers & Subscribers • High Heels - a branded web series with L'oreal Paris, released on Dice Media's Youtube channe
Slide 27: Events
QUARTERLY PRESENTATION | Q4 FY25 Events • Saregama Live presents the “CAP-MANIA” Tour 2025 with Himesh Reshammiya” . The tour kickstarts with Mumbai (Jio World Garden, BKC) in May and Delhi (Indira Gandhi Arena) in July. • After a string of successful shows across Mumbai, Gujarat, and the UK, in FY2
Slide 28: Financial Highlights Consolidated
QUARTERLY PRESENTATION | Q4 FY25 FINANCIAL HIGHLIGHTS CONSOLIDATED 25
Slide 29: Quarterly Financial Summary
QUARTERLY PRESENTATION | Q4 FY25 Quarterly Financial Summary Particulars (INR Mn) Q4 FY25 Q3 FY25 Q-o-Q Growth Q4 FY24 Y-o-Y Growth Revenue from Operations • Music : Licensing + Artist Management 1,714 1,577 9% 1,708 0% • Music : Retail 154 225 -32% 280 -45% • Video 492 243 102% 634 -22% • Events 48
Slide 30: Adjusted EBITDA to PAT
QUARTERLY PRESENTATION | Q4 FY25 Adjusted EBIDTA to PAT Particulars (INR Mn) Q4F Y25 Q3 FY25 QoQ Q4 FY24 YoY FY25 FY24 YoY Revenue from Operation (A) 2,408 4,834 -50% 2,631 -8% 11,713 8,030 46% Total Expenses (B) 1,392 3,805 -63% 1,767 -21% 8,147 5,001 62% Adjusted EBIDTA (C=A-B) 1,016 1,029 -1% 864
Slide 31: Balance Sheet
QUARTERLY PRESENTATION | Q4 FY25 Balance Sheet As at 31st As at 31st As at 31st As at 31st Equity and Liabilities (INR Mn) Assets (INR Mn) March 2025 March 2024 March 2025 March 2024 Shareholder's fund Non-current assets (a) Property, plant and equipment 2,222 2,238 (a) Equity share capital 193 193
Slide 32: Cash Flow Statement
QUARTERLY PRESENTATION | Q4 FY25 Cash Flow Statement Particulars (INR Mn) FY25 FY 24 Pre-Tax Profit 2,761 2,708 Change in other operating activities ( including non-cash Items) 17 (400) Change in Working capital 1,882 (348) Taxes Paid (806) (514) Net cash generated from Operating Activities (A) 3,85
Slide 33: Financial Charts (consolidated)
QUARTERLY PRESENTATION | Q4 FY25 Financial Charts (consolidated) Revenue from Operations Music Licensing+ Artist Content Charge (INR Mn) PAT (INR Mn) (Turnover) (INR Mn) Mgmt Revenue (INR Mn) 11,713 1,282 1976 2,042 1,851 1 2 0 0 2 ,1 0 0 1 3 0 0 1 1 7 0 6 8 0 0 6,104 1 1 4 0 1 1 0 1 2 0 0 6 5 0 0 1
Slide 34: Disclaimer
QUARTERLY PRESENTATION | Q4 FY25 Disclaimer Saregama India Ltd. Disclaimer: In evaluating our business, we consider and use non-GAAP financial measures such as EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin, PAT Margin, Debt to Equity Ratio, Return on Equity, to review and assess our operating perf