Saregama India Limited · NSE:SAREGAMA
Saregama India — Q1 FY24 Earnings Presentation
26 slides from Saregama India's earnings presentation
Slide 1: Saregama India Limited Quarterly Presentation Q1 FY24
SAREGAMA INDIA LIMITED | QUARTERLY PRESENTATION | Q1 FY24
Slide 2: Saregama Strengths
SAREGAMA STRENGTHS India’s only entertainment company with IP offerings across media channels (music, films, web series and TV serials), delivery platforms (physical and digital) and business models (licensing and retail) Large intellectual property portfolio of 150K+ songs, 69 films and web series,
Slide 3: Key Financial Metrics
SAREGAMA KEY FINANCIAL METRICS Revenue From Operations (INR Mn) Adjusted EBITDA (INR Mn) PBT(INR Mn) 7,366 50% CAGR 2,712 22% CAGR 58% CAGR 2,481 2,230 5,806 5,447 2,044 5,215 4,420 1,519 1,451 3,566 2,185 847 786 763 603 511 389 237 159 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY17 FY18 FY19 FY20 FY21 FY
Slide 4: Music Licensing, Music Retail, Films & Series, Live Events
MUSIC LICENSING, MUSIC RETAIL, FILMS & SERIES, LIVE EVENTS 1,574 1,024 702 476 521 Film, Events and Series, FY19 FY20 FY21 FY22 FY23 * * 4,410 21% * 3,585 * 2,839 FY23 1,949 2,361 Revenue INR 7366 Mn 61% 2,948 FY19 FY20 FY21 FY22 FY23 18% * One time income of INR 84Mn in FY23, INR 97Mn in FY22, 2,06
Slide 5: Strategic Overview
STRATEGIC OVERVIEW To be a Pure Play Content Company capitalising on the global content consumption boom driven by the ever-increasing Digitisation Through licensing to EVERY 3rd party Digital (music, video, social) and TV platform. Monetisation of Existing IP Carvaan transitioning from being a Prod
Slide 6: Path to Leadership Position in Music Segment
PATH TO LEADERSHIP POSITION IN MUSIC SEGMENT Disproportionate Share of New Content across Hindi & Regional Languages + Acquisition of Small & Mid size Music Catalogues using Cash Reserves + Better Monetisation Capability on the back of Catalogue + New Content strength Deeper artiste relationships +
Slide 7: Revenue from Catalogue Music Continues to Grow
MUSIC SEGMENT REVENUE FROM CATALOGUE MUSIC CONTINUES TO GROW Annual Growth in Music Licensing Revenue from Saregama owned Songs classified by Decade of Release FY19 FY20 FY21 FY22 FY23 2001 – 2020 47% 24% 18% 4% 19% 1981 – 2000 32% 18% 27% 1% 19% Till 1980 24% 23% 20% 5% 7% All revenue from derivati
Slide 8: Saregama Is No Longer a Catalogue Company
MUSIC SEGMENT SAREGAMA IS NO LONGER A CATALOGUE COMPANY 33% of Saregama’s songs were released post 2000, and they contributed to 48% of FY23 revenue FY23 150k+ songs generated Licensing Revenue INR 4,410 Mn * Era wise Breakup 2021-2023 8% 27% 2001-2020 25% 21% 1981-2000 26% 21% 1961-1980 25% 29% Til
Slide 9: Our Growth Strategy in Video Segment
OUR GROWTH STRATEGY IN VIDEO SEGMENT Pick Films and Cast primarily basis recoveries from Digital and TV licensing + Pick Web Series basis pre-licensing approval from a VoD platform Retain IP Volume of Films / Series to drive Greater emphasis on regional for Portfolio building & future Cost Optimisat
Slide 10: Our Licensing Partners
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 10
Slide 11: Operational Highlights
OPERATIONAL HIGHLIGHTS 11
Slide 12: Music Segment Revenue per Quarter
MUSIC SEGMENT REVENUE PER QUARTER (INR Mn) 1547 1509 1491 1378 1333 1274 1216 1175 1142 1004 919 858 696 Q1 FY21 Q2 FY21 Q3 FY21 Q4 FY21 Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY22 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 * One time income of INR 84Mn in FY23, INR 97Mn in FY22 and INR 155Mn in FY21 are excluded
Slide 13: Music Licensing - Monetisation
MUSIC LICENSING - MONETISATION • Brand Licenses: Mumbai Indians, Spotify, Uber, Google etc. • Digital Content Licenses: Telugu Indian Idol (Aha), Coke Studio Bharat etc. • Film Sync Licenses: Licensed songs for IB71 (Hindi, Action Hero Films), Gullu Gullu (Tamil, Raj productions), Enkilum Chandrike
Slide 14: Chartbusters of Q1 FY24
CHARTBUSTERS OF Q1 FY24 Phar er Ko Chaba D i=] AVR CHECK. INDIA qe fa >» ania CHECK GLOBAL TOP 50 TOP 100 tat) CHARTS INDIA 2 amazon music ib MOST PLAYED g INDIA Sons = REELS TOP 100 MUSIC VIDEO 3 INDIA INDIA SONGS
Slide 15: Music Segment: Content Creation (Film Music)
MUSIC SEGMENT : CONTENT CREATION Film Music released in Q1 FY24 HINDI TELUGU TAMIL MALAYALAM Vicky Kaushal & Sara Ali Khan Nani Samantha & Vijay Deverakonda Sivakarthikeyan Shaan Rahman Ranveer Singh & Alia Bhatt Shanthanu Bhagyaraj Vishnu Sivasankar Naresh Agastya Ravi Teja Rakul Preet Singh Pavail
Slide 16: Music Segment: Content Creation (Non-Film Music)
MUSIC SEGMENT : CONTENT CREATION Non-Film Music released in Q1 FY24 BHOJPURI GUJARATI HINDI Sanam Stebin Ben Khesari Lal & Shilpi Raj Naresh Thakor Vijay Suvada Neelkamal Singh DEVOTIONAL Shilpi Raj & Arvind Akela Kallu Kajal Maheriya Krishna Beuraa Charanjeet Singh Sondhi Khesari Lal Mahesh Vanzara
Slide 17: Music Retail
MUSIC RETAIL CARVAAN SALES (units '000s) Retail: 180 168 160 • Unit Sales grew 52% Y-o-Y 140 156 149 120 141 139 • Carvaan Mobile volumes building up 100 103 112 80 98 • Margin % similar on all Carvaan variants : base model, 60 Mini, Mobile, Music Bar 40 45 20 0 Q1-FY22 Q2-FY22 Q3-FY22 Q4-FY22 Q1-FY
Slide 18: Films & Series
FILMS & SERIES Films and Web Series Upcoming releases “Agra” directed by Kanu Bhel premiered at the Cannes Film Festival 2023 in the Directors’ Fortnight Section. Kasargold Malaikottai Valiban Bazooka Asif Ali Mohanlal Mammootty TV Segment Future Outlook • “Ilakkiya” rated the No. 1 TV serial in aft
Slide 19: Live Events
LIVE EVENTS Saregama live’s Stage adaptation of Bollywood’s iconic film Disco dancer • 12 shows held in Mumbai in Q1 FY24 • Establishing our credential, as a serious live events player • Show went off very well, both with public at large and critics 19
Slide 20: Financial Highlights Consolidated
FINANCIAL HIGHLIGHTS CONSOLIDATED 20
Slide 21: Quarterly Financial Summary
QUARTERLY FINANCIAL SUMMARY Particulars (INR Mn) Q1 FY24 Q4 FY23* Q-o-Q Growth Q1 FY23* Y-o-Y Growth Revenue from Operations • Music 1,491 1,461 2% 1,274 17% • Films and Television serials 122 573 (79)% 145 (16)% • Events 20 2 (900)% 242 (92)% Revenue from Operations 1,633 2,036 (20)% 1,661 (2)% Adj
Slide 22: Adjusted EBIDTA to PAT
ADJUSTED EBIDTA TO PAT Q-o-Q Y-o-Y Particulars (INR Mn) Q1 FY24 Q4 FY23* Q1 FY23* FY 23* Growth Growth Revenue from Operations (A) 1,633 2,036 (20)% 1,661 (2)% 7,366 Total Expenses (B) 1,010 1,417 (29)% 1,010 - 4,654 Adjusted EBIDTA (C= A-B) 623 619 1% 651 (4)% 2,712 Adjusted EBIDTA Margin (%) 38% 3
Slide 23: Balance Sheet
BALANCE SHEET As at 30th As at 31st As at 30th As at 31st Equity and Liabilities (INR Mn) Assets (INR Mn) June 2023 March 2023* June 2023 March 2023* Shareholder's fund Non-current assets 193 193 (a) Property, plant and equipment 2,208 2,207 (a) Equity share capital (b) Right-of-use assets 5 7 (b) O
Slide 24: Cash Flow Statement
CASH FLOW STATEMENT Particulars (INR Mn) Q1 FY24 FY 23* Pre-Tax Profit 591 2,481 Change in other operating activities ( including non-cash Items) (16) (432) Change in Working capital (629) (445) Taxes Paid (85) (669) Net cash generated from Operating Activities (A) (139) 935 Redemption/ (Investment)
Slide 25: Financial Charts (Consolidated)
FINANCIAL CHARTS (CONSOLIDATED) Revenue from Operations Music Licensing Revenue Content Charge (INR Mn) PAT (INR Mn) (Turnover) (INR Mn) (INR Mn) * 1,850 4,410 679 * 7,366 1,526 3,585 * 5,806 463 * 5,447 2,839 1,135 5,215 2,361 4,420 1,949 543 179 176 435 99 FY19 FY20 FY21 FY22 FY23 FY19 FY20 FY21 F
Slide 26: Disclaimer
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 performance. These non-GAAP financial