Slide 1: Submission of Investor Presentation to exchanges
October 15, 2025 To, To, Listing Department Listing Department BSE Limited National Stock Exchange of India Limited P.J Towers, Dalal Street, Exchange Plaza, 5th Floor, Plot No. C/1, G Block, Fort, Mumbai - 400 001 Bandra Kurla Complex, Bandra (E), Mumbai - 400 050 Scrip Code: 532375 Symbol: TIPSMUS
Slide 2: Investor Presentation Q2 FY26
Investor Presentation Q2 FY26
Slide 3: Safe harbor
Safe harbor This presentation and the accompanying slides (the “Presentation”), which have been prepared by Tips Music Limited (the “Company’), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities
Slide 4: Company Overview
Company Overview KEY FACTS Founded Year 1988 Catalogue comprises of music in over Only listed player to expense off Debt free company with 25 languages 100% of content cost in the ₹ 275 cr of cash & available across multiple investments platforms globally quarter of release Website www.tips.in Indus
Slide 5: What Makes Us Unique
What Makes Us Unique India Music Investment Opportunity Optimising Capital Allocation India Music Investment Optimising Capital Opportunity Allocation Key Growth Drivers Ahead Sustainably Increasing market share Key Growth Drivers Sustainably Increasing Ahead market share The Subscription Wave The S
Slide 6: Optimising Capital Allocation: Total Payout to shareholders in H1FY26 Rs 102.26 Cr
Optimising Capital Allocation : Total Payout to shareholders in H1FY26 Rs 102.26 Cr Consistently rewarding shareholders through Buybacks & Dividends 275 271 275 (Crs) Reducing Equity Shares* 102 17.31 89 15.96 -26% 77 71 15.36 62 14.32 56 47 12.97 12.84 12.78 12.78 40 37 33 19 21 13 10 14 13 4 22 0.
Slide 7: Sustainably Increasing Market Share: Revenues Surged 1.8x in Last 2 Years
Sustainably Increasing Market Share: Revenues Surged 1.8x in Last 2 Years Music Sector* Revenues (₹ Crs) (₹ Crs) 5,834 311 13.7% 4,488 242 +36.1% 4,039 3,964 3,441 187 136 91 CY22 CY23 CY24 CY25E# CY27E # FY21 FY22 FY23 FY24 FY25 *Source: EY-FICCI M&E Report 2025; # EY Estimates. Note: Music industr
Slide 8: Our Content Powers Global Platforms
Our Content Powers Global Platforms Digital Partners Sync Deals Broadcast Partners 7
Slide 9: India Music Investment Opportunity
India Music Investment Opportunity Global Total Music Streaming Volume ( Audio & Video) Global Music Label Revenues (trillion streams) (USD bn) +34% 2023 28.5 2023 7.1 India 15% Vol Mkt 85% 0.4 India 2% Val Mkt 98% 1.0 share share 5.3 81% 0.6 World ex. India 28.1 World ex. India 6.1 4.7 2022 2023 20
Slide 10: Key Growth Drivers Ahead
Key Growth Drivers Ahead Subscription Monetization of shorts Public Performance Rights Royalty from AI • Industry Subscription Shorts consumption far exceeds • Industry Revenue is growing Warner Music Group (WMG) Revenue is growing by other digital formats; at approx. 40-50% CAGR and and Universal M
Slide 11: Global Subscription Streams Account For 3x the Revenue of Ad-supported Streams
Global Subscription Streams Account For 3x the Revenue of Ad-supported Streams Global Music Revenue Sources 2.2% 2.2% 3.2% 2.8% 9.5% 9.7% 16.4% 48.9% CY2023 17.8% 51.2% CY2024 18.5% 17.7% Subscription audio streams Ad-supported streams Synchronisation Performance rights Physical Download & Other dig
Slide 12: Growing Listenership & Increasing Content Addition
Growing Listenership & Increasing Content Addition Evergreen & Rich content of over 34,000 songs across Annual YouTube Views (in. Bn) genres, languages & decades giving us high visibility of 228.3 +56% 193.9 music revenue 112.7 New Songs Added 38.5 59.6 133 FY21 FY22 FY23 FY24 FY25 New releases in Q
Slide 13: Financial Performance
Financial Performance
Slide 14: Summary of Last 10 Quarters
Summary of Last 10 Quarters (Crs) Cumulative 90.0 88.1 89.2 (10 quarters) 80.6 80.0 77.7 78.5 73.9 70.0 Revenue 64.8 63.3 729.6 60.9 60.0 52.6 53.2 48.2 45.7 50.0 44.2 43.6 40.0 39.5 Content Cost 34.7 30.6 29.9 163.3 30.0 26.8 25.8 23.9 23.5 20.0 14.7 13.8 14.6 12.7 13.3 12.2 10.0 Profit after Tax 4
Slide 15: Summary of Last 5 Years
Summary of Last 5 Years (Crs) 310.7 241.6 186.8 166.6 135.6 +31.0% 127.2 90.5 76.5 71.0 64.6 62.4 55.6 43.5 32.7 13.2 FY21 FY22 FY23 FY24 FY25 Revenue PAT Content Cost 14
Slide 16: Business Performance
Business Performance (₹ Crs) Revenue Op. EBITDA Op. EBITDA Margins (%) +11% 220 bps +14% 89.2 73.8 76.0 67.8 80.6 59.5 Q2FY25 Q2FY26 Q2FY25 Q2FY26 Q2FY25 Q2FY26 Revenue Op. EBITDA Op. EBITDA Margins (%) +15% +9% -360 bps 177.3 124.4 73.7 70.1 154.5 113.8 H1FY25 H1FY26 H1FY25 H1FY26 H1FY25 H1FY26 15
Slide 17: Industry Leading Financial Performance
Industry Leading Financial Performance (₹ Crs) Revenue EBIT & EBIT Margin 63.9% 55.1% 66.8% 67.8% 311 224 +32% +36% 242 171 187 136 106 89 FY22 FY23 FY24 FY25 FY22 FY23 FY24 FY25 ROE EPS 86% 13.0 81% +38% 63% 64% 9.9 5.9 5.0 FY22 FY23 FY24 FY25 FY22 FY23 FY24 FY25 16
Slide 18: Profit & Loss Statement
Profit & Loss Statement Particulars (Rs. in Crs) Q2FY26 Q2FY25 Y-o-Y Q1FY26 Q-o-Q H1FY26 H1FY25 Y-o-Y Revenue From Operations 89.2 80.6 11% 88.1 1% 177.3 154.5 15% Content Cost 13.3 13.8 -4% 23.5 -44% 36.8 26.5 39% Employee Benefits Expenses 3.4 2.8 3.1 6.5 5.6 Other Expenses 4.7 4.5 4.9 9.7 8.6 Op.
Slide 19: Balance Sheet
Balance Sheet Equity & Liabilities (₹ in Cr) Sept’25 Mar’25 Assets (₹ in Cr) Sept’25 Mar’25 Equity Share Capital 12.8 12.8 Non-Current Assets Other Equity 244.5 196.8 Property, plant and equipment 6.0 6.2 Total Equity 257.3 209.5 Other intangibles 0.3 0.2 Non- Current Liabilities Investment Property
Slide 20: Cash Flow Statement
Cash Flow Statement Cash Flow Statement (Rs. Crs.) Sept’25 Mar’25 Cash Flow from Operating Activities Profit before Tax 133.2 223.2 Adjustment for Non-Operating Items -8.4 -13.2 Operating Profit before Working Capital Changes 124.9 210.0 Changes in Working Capital -54.3 -30.6 Cash Generated from Ope
Slide 21: Music – A Digital Journey
Music – A Digital Journey
Slide 22: Digital Advertising – Key Driver of Indian Music Industry
Digital Advertising – Key Driver of Indian Music Industry Indian Digital Ad Industry India's digital advertising industry reached Rs 49,251 crore in 2024, up from (₹ Crs) Rs 40,685 crore in 2023, and is projected to grow at a CAGR of 19%. By then, digital media is expected to account for 61% of tota
Slide 23: Digital Advertising will Dominate Media Spending in India for the Next Few Years
Digital Advertising will Dominate Media Spending in India for the Next Few Years Advertising spends on different media Advertising spends across various media (%) - Forecast 65 61 60 Digital Radio Cinema 55 55 OOH 4.0% 50 49 Print 2.0% Television 0.3% 45 42 42 43 17.0% 28.0% 40 39 35 35 31 30 29 28
Slide 24: Few Industry Reports
Few Industry Reports Digital Advertising in India dentsu Global Music Report IFPI EY Media Entertainment FICCI Report 2025 Ericsson Mobility Report EMR dentsu IFPI FICCI EMR Digital Advertising in India Global Music Report EY Media & Entertainment Ericsson Mobility Report 2025 Report 23
Slide 25: Thank You
Thank You Company Details: Investor Relations Advisors: Tips Music Limited MUFG Intime India Private Limited A part of MUFG Corporate Markets, a division of MUFG Pension & Market Services CIN: L92120MH1996PLC099359 Mr. Nikunj Jain | Ms. Mamta Nehra +91 9769060608 | +91 9987903500 investorrelations@t