Saregama India Limited · NSE:SAREGAMA
Saregama India — Q3 FY25 Earnings Presentation
33 slides from Saregama India's earnings presentation, February 2025
Slide 1: Saregama India Limited Quarterly Presentation Q3 FY25
QUARTERLY PRESENTATION | Q3 FY25 SAREGAMA INDIA LIMITED | QUARTERLY PRESENTATION | Q3 FY25
Slide 2: Saregama Strengths
QUARTERLY PRESENTATION | Q3 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 intellectual
Slide 3: Key Financial Metrics
QUARTERLY PRESENTATION | Q3 FY25 SAREGAMA | KEY FINANCIAL METRICS Revenue From Operations (INR Mn) Adjusted EBITDA (INR Mn) PBT(INR Mn) 8,030 50% CAGR 2,708 20% CAGR 3,029 44% CAGR 7,366 2,481 2,712 2,044 5,806 2,230 5,447 5,215 4,420 1,519 3,566 1,451 847 2,185 786 763 603 511 389 237 159 FY17 FY18
Slide 4: Global Industry Highlights
QUARTERLY PRESENTATION | Q3 FY25 GLOBAL INDUSTRY HIGHLIGHTS 4
Slide 5: The Growth of Global Music Industry Continues
QUARTERLY PRESENTATION | Q3 FY25 THE GROWTH OF GLOBAL MUSIC INDUSTRY CONTINUES 0.6 2.7 Global Recorded Music Revenue Grew 10.2% to reach USD28.6 Bn in 2023 0.6 0.9 2.5 0.5 2.3 0.9 0.6 0.7 1.1 0.4 0.7 0.9 0.4 2.2 0.3 0.8 0.9 0.9 0.4 2.4 1.2 1.8 1.1 0.4 2.5 0.1 1.2 1.4 2.5 0.3 2.2 19.3 1.2 1.6 0.3 0.3
Slide 6: Subscription Business Is Growing Globally
QUARTERLY PRESENTATION | Q3 FY25 SUBSCRIPTION BUSINESS IS GROWING GLOBALLY Quarter after Quarter contribution from Rest of World is growing among premium subscribers Source: Spotify Q4 FY24 Published Results PREMIUM SUBSCRIBERS BREAKUP
Slide 7: Indian Media & Entertainment Sector Expected to Grow at 10% pa
QUARTERLY PRESENTATION | Q3 FY25 Indian Media & Entertainment Sector is expected to grow at 10% pa on the back of Digitisation Saregama has a play in multiple verticals of the Sector MUSIC VIDEO LIVE EVENTS ARTIST / INFLUENCER INDUSTRY SIZE (2023): INR 24,000Mn FILM INDUSTRY SIZE (2023): INDUSTRY SI
Slide 8: India's Influencer Marketing Industry Expected to Grow at 18% CAGR
QUARTERLY PRESENTATION | Q3 FY25 India’s Influencer Marketing Industry is expected to grow at 18% CAGR to reach INR 3375 Cr As 50% of the time spent on mobile phones is on Instagram and YouTube were the most preferred social media platforms, Influencer marketing is the platforms to consume content f
Slide 9: Company Overview
QUARTERLY PRESENTATION | Q3 FY25 COMPANY OVERVIEW 9
Slide 10: Segmental Growth
QUARTERLY PRESENTATION | Q3 FY25 SEGMENTAL GROWTH 23% CAGR 20% CAGR 5,441 * 1,159 * 4,410 1,024 1,085 * 3,585 * 2,839 702 2% 2,361 1,949 476 521 14% FY19 FY20 FY21 FY22 FY23 FY24 FY19 FY20 FY21 FY22 FY23 FY24 * One time income of INR 84Mn in FY23, INR 97Mn in FY22, FY24 INR 155Mn in FY21 and INR 21M
Slide 11: Our Licensing Partners
QUARTERLY PRESENTATION | Q3 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 12: Operational Highlights
QUARTERLY PRESENTATION | Q3 FY25 OPERATIONAL HIGHLIGHTS 12
Slide 13: Music: Licensing + Artist Management Revenue per Quarter
QUARTERLY PRESENTATION | Q3 FY25 1,900 MUSIC : LICENSING + ARTIST MANAGEMENT 1,700 REVENUE PER QUARTER (INR Mn) 1,616 1,500 1,577 1,480 1,331 1,300 1,319 1,198 1,217 1,100 1,178 1,125 1,079 1,028 992 900 927 882 802 786 700 592 500 Q3 FY21 Q4 FY21 Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY22 Q1 FY23 Q2 FY23 Q3 F
Slide 14: Music: Licensing
QUARTERLY PRESENTATION | Q3 FY25 MUSIC : LICENSING • OTT: In Q3 FY25 Airtel shut down its music streaming platform “Wynk Music” resulting in short term impact on revenue. Progressive shift seen as paid subscription replaces free consumption. Strong revenue growth in medium to long-term despite short
Slide 15: Investment in New Content
QUARTERLY PRESENTATION | Q3 FY25 INVESTMENT IN NEW CONTENT (INR Mn) ~10,000 Mn 3,500 3,000 2,500 2,356 2,000 1,949 1,500 1,192 1,095 1,000 500 324 151 195 - FY19 FY20 FY21 FY22 FY23 FY24 9M FY25 FY25E FY26E FY27E Investment in New Content = Cost of Content + Marketing
Slide 16: Major Film Albums Released in 9M FY25
QUARTERLY PRESENTATION | Q3 FY25 MAJOR FILM ALBUMS RELEASED IN 9M 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 Films Shraddha Kapoor, Rajkumar Rao,Pankaj Tripathi,Tamannaah Bhatia 850+ Bad N
Slide 17: Music: Licensing | Chartbusters of 9M FY25
QUARTERLY PRESENTATION | Q3 FY25 MUSIC : LICENSING | CHARTBUSTERS OF 9M FY25 HINDI
Slide 18: Music: Licensing | Chartbusters of 9M FY25
QUARTERLY PRESENTATION | Q3 FY25 MUSIC : LICENSING | CHARTBUSTERS OF 9M FY25 TELUGU TAMIL MALAYALAM
Slide 19: Music: Content Creation - Film Music
QUARTERLY PRESENTATION | Q3 FY25 MUSIC : CONTENT CREATION Film Music HINDI MALAYALAM TAMIL TELUGU KANNADA Deepika Padukone Alex & Devi Sri Prasad Nakul & Ramya Bhat Abhyankar Thaman S, Prudhvi Chandra Vijay Prakash Ranveer Singh Ankit Menon & Dabzee Faisal Razi Sam CS & Diwakar Anurag Kulkarni Alia
Slide 20: Music: Content Creation - Non-Film Music
QUARTERLY PRESENTATION | Q3 FY25 MUSIC : CONTENT CREATION Non-Film Music HINDI GUJARATI BHOJPURI BENGALI DEVOTIONAL PUNJABI Satindar Sartaaj Badshah, Sharvi Yadav Rajesh Ahir Pramod Premi Yadav, Shivani Singh Devjit & Debosmita Dev Dijit Dosanjh HARYANVI Dilraj Kaur & Vijaya Mazumder Aditya Pushkarn
Slide 21: Music: Content Creation - Foray into Hip Hop
QUARTERLY PRESENTATION | Q3 FY25 MUSIC : CONTENT CREATION Foray into Hip Hop Acquired 130+ SONGS
Slide 22: Music: Artist Management
QUARTERLY PRESENTATION | Q3 FY25 MUSIC : ARTIST MANAGEMENT Maahi Rj Karishma RJ Princy Tony Kakkar Daler Mehndi Paradox Rehaan Roy 15.3M Followers 4.5M Followers 8.2M Followers 4.7M Followers 2.2M Followers 6.3M Followers Pragati Nagpal Added during the quarter Rinkal Parekh Saurabh Ghadge Viraj Ghe
Slide 23: Music: Retail
QUARTERLY PRESENTATION | Q3 FY25 MUSIC : RETAIL • Transition from sales through distribution channel to sales only CARVAAN SALES (Units’000) through E-commerce and Modern Retail outlets 199 190 189 • While the volumes and topline will shrink, profitability margins 170 improves through control of cos
Slide 24: Video: Films, TV & Digital Content
QUARTERLY PRESENTATION | Q3 FY25 VIDEO : FILMS, TV & DIGITAL CONTENT • Completed shooting of second Upcoming releases season of “Hunter Tootega Nahi A. Films Todega” starring Suniel Shetty, Jackie Shroff and Anusha Dandekar • Upcoming releases include Mammootty’s “Bazooka” in Malayalam and Kiran Abb
Slide 25: Digital Content
QUARTERLY PRESENTATION | Q3 FY25 C. Digital Content VIDEO : FILMS, TV & DIGITAL CONTENT 22M+ 3M+ Followers & Subscribers 8M+ Followers & Subscribers 6M+ Followers & Subscribers Followers & Subscribers • Arranged Patch-Up S2, a branded web-series with IKEA and Peter England, released on Dice Media, a
Slide 26: Events
QUARTERLY PRESENTATION | Q3 FY25 EVENTS • “Dil Luminati” became the biggest live musical concert of 2024 that India has ever experienced. The tour broken all records, becoming the fastest-selling and highest-grossing concert event in Indian history of an Indian Artist. • No of Live Shows in Q3 FY25:
Slide 27: Financial Highlights Consolidated
QUARTERLY PRESENTATION | Q3 FY25 FINANCIAL HIGHLIGHTS CONSOLIDATED 27
Slide 28: Quarterly Financial Summary
QUARTERLY PRESENTATION | Q3 FY25 QUARTERLY FINANCIAL SUMMARY Particulars (INR Mn) Q3 FY25 Q2 FY25 Q-o-Q Growth Q3 FY24 Y-o-Y Growth Revenue from Operations • Music : Licensing + Artist Management 1,577 1,480 7% 1,319 20% • Music : Retail 225 212 6% 371 (39)% • Video 243 720 (66)% 252 (4)% • Events 2
Slide 29: Adjusted EBIDTA to PAT
QUARTERLY PRESENTATION | Q3 FY25 ADJUSTED EBIDTA TO PAT Q-o-Q Y-o-Y Particulars (INR Mn) Q3 FY25 Q2 FY25 Q3 FY24 FY 24 Growth Growth Revenue from Operations (A) 4,834 2,418 100% 2,043 137% 8,030 Total Expenses (B) 3,804 1,576 141% 1,220 212% 5,001 Adjusted EBIDTA (C= A-B) 1,030 842 22% 822 25% 3,029
Slide 30: Balance Sheet
QUARTERLY PRESENTATION | Q3 FY25 BALANCE SHEET As at 31st As at 31st As at 31st As at 31st Equity and Liabilities (INR Mn) Assets (INR Mn) December 2024 March 2024 December 2024 March 2024 Shareholder's fund Non-current assets (a) Property, plant and equipment 2,227 2,238 (a) Equity share capital 19
Slide 31: Cash Flow Statement
QUARTERLY PRESENTATION | Q3 FY25 CASH FLOW STATEMENT Particulars (INR Mn) 9M FY25 FY 24 Pre-Tax Profit 1,944 2,708 Change in other operating activities ( including non-cash Items) 6 (400) Change in Working capital 3,095 (348) Taxes Paid (538) (514) Net cash generated from Operating Activities (A) 4,
Slide 32: Financial Charts (Consolidated)
QUARTERLY PRESENTATION | Q3 FY25 FINANCIAL CHARTS (CONSOLIDATED) Revenue from Operations Music Licensing Revenue Content Charge (INR Mn) PAT (INR Mn) (Turnover) (INR Mn) (INR Mn) 900 2000 5,500 1,976 5,441 864 800 1,850 * 1700 8,030 700 7,366 1,526 4,410 * 1400 4,000 679 600 * 5,806 3,585 1100 500 5
Slide 33: Disclaimer
QUARTERLY PRESENTATION | Q3 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