Saregama India Limited · NSE:SAREGAMA
Saregama India — Q1 FY26 Earnings Presentation
35 slides from Saregama India's earnings presentation, Jul 31, 2025
Slide 1: Regulation 30 cover letter to stock exchanges
Date: 31st July, 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 Symb
Slide 2: Total Revenue Rs. 2,210 Mn with PBT of 511 Mn for Q1 FY26
Total Revenue stood at Rs. 2,210 Mn with PBT of 511 Mn for Q1 FY26 Building IP for Tomorrow Mumbai, 31st July, 2025: Saregama, a RPSG Group company, announced its Financial Results for the quarter ended 30th June, 2025 The company recorded yet another quarter of robust financial performance with Rev
Slide 3: Management quote and About Saregama India
Avarna Jain, Vice Chairperson Saregama India Ltd, said “ The company stands in a strong position with its balanced outlook towards investment and profitability. Consistent delivery of topline and bottom line amidst some headwinds facing the industry, is a testament to the company’s sharp focus in sc
Slide 4: Saregama India Limited
QUARTERLY PRESENTATION | Q1 FY26 SAREGAMA INDIA LIMITED | QUARTERLY PRESENTATION | Q1 FY26
Slide 5: Saregama Strengths
QUARTERLY PRESENTATION | Q1 FY26 SAREGAMA STRENGTHS India’s only entertainment company with IP offerings across media channels (music, films, digital series, TV serials, and short-format), delivery platforms (digital and physical) and business models (licensing, advertising and retail) Large intelle
Slide 6: Key Financial Metrics
QUARTERLY PRESENTATION | Q1 FY26 SAREGAMA | KEY FINANCIAL METRICS Revenue from Operations (INR Mn) Adjusted EBITDA (INR Mn) PBT (INR Mn) 23% 40% 43% CAGR 11,713 CAGR CAGR 2,761 3,566 2,708 2,481 3,029 2,712 2,044 8,030 7,366 2,230 1,519 5,806 5,447 5,215 1,451 4,420 3,566 847 786 763 603 2,185 511 3
Slide 7: Global Industry Highlights
QUARTERLY PRESENTATION | Q1 FY26 GLOBAL INDUSTRY HIGHLIGHTS 4
Slide 8: The Growth of Global Music Industry Continues
QUARTERLY PRESENTATION | Q1 FY26 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 | Q1 FY26 SUBSCRIPTION BUSINESS IS GROWING GLOBALLY Spotify Premium subscriber base grows to 276 Mn users recording a YoY growth of 12% Premium subscribers' breakup Source: Spotify Q2 25 Published Results
Slide 10: Indian Media & Entertainment Sector Expected to Grow at 7% PA
QUARTERLY PRESENTATION | Q1 FY26 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 | Q1 FY26 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 | Q1 FY26 COMPANY OVERVIEW 9
Slide 13: Segmental Growth
QUARTERLY PRESENTATION | Q1 FY26 SEGMENTAL GROWTH 6,104 5,441 1,920 4,410 3,585 2,839 1,159 1,024 1,085 2,361 702 24% 521 FY20 FY21 FY22 FY23 FY24 FY25 FY25 FY20 FY21 FY22 FY23 FY24 FY25 * One time income of INR 84Mn in FY23, INR 97Mn in FY22, INR 155Mn in FY21 and INR 21Mn in FY20 are excluded Reve
Slide 14: Our Licensing Partners
QUARTERLY PRESENTATION | Q1 FY26 OUR LICENSING PARTNERS Streaming Partners Broadcasting Partners Video Streaming Partners Music Music + Films & Series Music + Films & Series v Social Media Platforms Brands Music + Films & Series Music 11
Slide 15: Operational Highlights
QUARTERLY PRESENTATION | Q1 FY26 OPERATIONAL HIGHLIGHTS 12
Slide 16: Music: Licensing + Artiste Management Revenue per Quarter
QUARTERLY PRESENTATION | Q1 FY26 MUSIC : LICENSING + ARTISTE MANAGEMENT REVENUE PER QUARTER (INR MN) 1,708 1,714 1,577 1,480 1,490 1,319 1,331 1,198 1,217 1,178 1,125 1,079 1,028 992 927 882 786 Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY22 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25 Q
Slide 17: Music: Licensing
QUARTERLY PRESENTATION | Q1 FY26 MUSIC : LICENSING • OTT: Progressive shift seen as paid subscription replaces free consumption. Strong revenue growth in medium to long-term • Brand Licenses: Google, HUL-Lux, KFC, Urban Company, Oppo • Broadcasting: Sony, IN10 Media, Enterr10 • Digital Content Licen
Slide 18: Investment in New Content (INR Mn)
QUARTERLY PRESENTATION | Q1 FY26 INVESTMENT IN NEW CONTENT (INR Mn) ~10,000 Mn 3,160 1,949 1,192 1,095 324 151 195 FY19 FY20 FY21 FY22 FY23 FY24 FY25 FY26E FY27E Investment in New Content = Cost of Content + Marketing
Slide 19: Major Film Albums Released in Q1 FY26 and Upcoming Releases
QUARTERLY PRESENTATION | Q1 FY26 MAJOR FILM ALBUMS RELEASED IN Q1 FY26 - BUILDING IP FOR TOMORROW Film Language No. of Songs Production House Star Cast Box Office Collection (Rs. Cr) Hit: 3 Telugu 04 Wall Poster Cinema Nani, Srinidhi Shetty 120+ Thug Life Tamil 10 Raaj Kamal Films International Kama
Slide 20: Music: Licensing | Chartbusters of Q1 FY26
QUARTERLY PRESENTATION | Q1 FY26 MUSIC : LICENSING | CHARTBUSTERS OF Q1 FY26 TAMIL TELUGU Jinguchaa Muththa Mazhai Thanu
Slide 21: Music: Licensing | Inorganic Catalogue Acquisition
QUARTERLY PRESENTATION | Q1 FY26 MUSIC : LICENSING | INORGANIC CATALOGUE ACQUISITION Saregama Acquires the Biggest and Most Popular Haryanvi Music Catalogue: NAV Records Pvt. Ltd. 24 Mn+ Subscribers Coco Cola Parvati Boli Shankar Se 900 Mn+ views 500 Mn+ views 6,500+ songs 5+ Languages Loot Liya Kaa
Slide 22: Music: Licensing | Content Creation - Film Music
QUARTERLY PRESENTATION | Q1 FY26 MUSIC : LICENSING I CONTENT CREATION Film Music HINDI MALAYALAM TAMIL TELUGU Roop Suhana Lagta hai Loading Bazooka Jinguchaa Thanu (Hai Junoon) (Bazooka) (Thug Life) (Hit: 3) Khudaya Ishq Jodi No.1 Muththa Mazhai The Paradise Theme OST (Abir Gulal) (Udumbanchola Visi
Slide 23: Music: Licensing | Content Creation - Non-Film Music
QUARTERLY PRESENTATION | Q1 FY26 MUSIC : LICENSING I CONTENT CREATION Non-Film Music HINDI GUJARATI BHOJPURI DEVOTIONAL PUNJABI Jaan se Zyada Te Rakhiya Na Ghar Na Lut Gayani Pyaar Mai Sawan Song Noor Nanak Lofi Ghat Na (Jhoom Jhoom ke Sawan) HARYANVI Yeh Shaam Bhayada Na Dil Licensee Shri Krishna G
Slide 24: Music: Artiste Management
QUARTERLY PRESENTATION | Q1 FY26 MUSIC : ARTISTE MANAGEMENT Maahi Mermaid Scales RJ Karishma Rehaan Roy Dr. Kumar Vishwas Tony Kakkar Paradox 21.4 Mn Followers 15.3 Mn Followers 6.8 Mn Followers 18.5 Mn Followers 12.6 Mn Followers 4.5 Mn Followers Pragati Nagpal Added during the quarter RJ Princy Ri
Slide 25: Retail
QUARTERLY PRESENTATION | Q1 FY26 RETAIL • Transition from sales through distribution channel to sales only Carvaan Sales (Units '000s) through E-commerce and Modern Retail outlets 149 142 • While the volumes and topline will shrink, profitability margins 111 improves through control of costs associa
Slide 26: Video: Films, TV, Digital Series & Short-Format
QUARTERLY PRESENTATION | Q1 FY26 VIDEO : FILMS, TV, DIGITAL SERIES & SHORT-FORMAT Upcoming releases • Released Deeno Dennis’s A. Films “Bazooka” (Tamil) starring Mammootty • Upcoming releases include “Vishwambara” in Telugu and “Devil” in Kannada Vishwambara Devil Bazooka (Telugu) (Kannada) • Battle
Slide 27: Video: Digital Series and Short-Format
QUARTERLY PRESENTATION | Q1 FY26 VIDEO : FILMS, TV, DIGITAL SERIES & SHORT-FORMAT 22M+ 8M+ Followers & Subscribers 6M+ Followers & Subscribers 2M+ Followers & Subscribers Followers & Subscribers C. Digital Series D. Short-Format
Slide 28: Events
QUARTERLY PRESENTATION | Q1 FY26 EVENTS • Saregama Live successfully launched the “CAP- MANIA” Tour 2025 with Himesh Reshammiya, beginning with the Mumbai (Jio World Garden, BKC) in May, followed by two shows in Delhi (Indira Gandhi Arena) in July. • Following a successful run of 'That’s So Viraj' s
Slide 29: Financial Highlights Consolidated
QUARTERLY PRESENTATION | Q1 FY26 FINANCIAL HIGHLIGHTS CONSOLIDATED 26
Slide 30: Quarterly Financial Summary
QUARTERLY PRESENTATION | Q1 FY26 QUARTERLY FINANCIAL SUMMARY Particulars (INR Mn) Q1 FY26 Q4 FY25 QoQ Q1 FY25 YoY Revenue from Operations •Music : Licensing + Artiste Management 1,490 1,714 -13% 1,331 12% •Retail 170 154 10% 247 -31% •Video 357 492 -28% 465 -23% •Events 51 48 6% 10 410% Revenue from
Slide 31: Adjusted EBITDA to PAT
QUARTERLY PRESENTATION | Q1 FY26 ADJUSTED EBITDA TO PAT Particulars (INR Mn) Q1 FY26 Q4 FY25 QoQ Q1 FY25 YoY FY25 Revenue from Operation (A) 2,068 2,408 -14% 2,053 1% 11,713 Total Expenses (B) 1,404 1,392 1% 1,373 2% 8,147 Adjusted EBITDA (C=A-B) 664 1,016 -35% 680 -2% 3,566 Adjusted EBITDA Margin 3
Slide 32: Balance Sheet
QUARTERLY PRESENTATION | Q1 FY26 BALANCE SHEET As at 30th As at 31st As at 30th As at 31st Equity and Liabilities (INR Mn) Assets (INR Mn) Jun-25 Mar-25 Jun-25 Mar-25 Shareholder's fund Non-current assets (a) Equity share capital 193 193 (b) Other equity 15,972 15,641 (a) Property, plant and equipme
Slide 33: Cash Flow Statement
QUARTERLY PRESENTATION | Q1 FY26 CASH FLOW STATEMENT Particulars (INR Mn) Q1 FY26 FY25 Pre-Tax Profit 510 2,761 Change in other operating activities ( including non-cash Items) 98 17 Change in Working capital (2,061) 1,882 Taxes Paid (53) (806) Net cash (used in)/generated from Operating Activities
Slide 34: Financial Charts (Consolidated)
QUARTERLY PRESENTATION | Q1 FY26 FINANCIAL CHARTS (CONSOLIDATED) Music: Licensing+ Content Charge Revenue from Operations Artist Mgmt. Revenue (INR Mn) PAT (INR Mn) (Turnover) (INR Mn) (INR Mn) 1,282 11,713 1,851 1976 2,042 6,104 5441 864 1,526 8030 679 1,135 7366 4410 463 5806 3585 4420 2839 179 FY
Slide 35: Disclaimer
QUARTERLY PRESENTATION | Q1 FY26 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