Tips Music Limited · NSE:TIPSMUSIC
Tips Music — Q2 FY2027 Earnings Presentation
24 slides from Tips Music's earnings presentation, Oct 15, 2026
Slide 1: Submission of Investor Presentation to exchanges
October 15, 2026 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 - Q2FY27
Investor Presentation - Q2FY27
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 Catalogue comprises of music in over Debt free company Only listed player to 25 languages available across multiple platforms with ₹311 cr of Established globally A&R capability expense off 100% of cash & investments content cost in the quarter of 94 73% 25+ 164.5 mn Reven
Slide 5: What Makes Us Unique
What Makes Us Unique Optimising Capital Allocation Sustainably Increasing Market Share Our Content Powers Global Platforms Key Growth Drivers Ahead The Subscription Wave Growing listenership & Increasing Content Addition
Slide 6: Optimising Capital Allocation through Buybacks & Dividends
Optimising Capital Allocation through Buybacks & Dividends 166 275 311 271 89 267 77 83 71 71 62 56 59 40 47 44 33 14 19 13 21 0.1 13 10 3 4 2 2 0.5 2 5 4 7 2 2 2 0.3 2 0.0 3 0.3 6 0.3 0.3 0.2 0.2 2015-16 2016-17 2017-18 2018-19 2019-20 2020-21 2021-22 2022-23 2023-24 2024-25 2025-26 H1FY27 Net Cash
Slide 7: Sustainably Increasing Market Share: Revenues Surged 2x in Last 3 Years
Sustainably Increasing Market Share: Revenues Surged 2x in Last 3 Years Music Sector* Revenues (₹ Crs) (₹ Crs) 8.3% 5,527 376 4,716 311 4,348 +29.0% 3,979 3,906 242 187 136 CY23 CY24 CY25 CY26E# CY28E# FY22 FY23 FY24 FY25 FY26 *Source: EY-FICCI M&E Report 2026; # EY Estimates. Note: Music industry r
Slide 8: Our Content Powers Global Platforms
Our Content Powers Global Platforms Digital Platforms Sync Deals Content Broadcasters 7
Slide 9: Key Growth Drivers Ahead
Key Growth Drivers Ahead • Industry Subscription Revenue is growing by approx. 40-50% CAGR Subscription • Spotify expects the number of paid subscribers in India to reach 150 million • Post consolidation of music platforms the top 4 players are investing heavily in growing subscribers Shorts consump
Slide 10: 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% 2.0% 2.8% 2.5% 9.7% 9.3% 16.6% 51.2% CY2024 16.4% 52.4% CY2025 17.7% 17.1% Subscription audio streams Ad-supported streams Synchronisation Performance rights Physical Download & Other dig
Slide 11: Growing Listenership & Increasing Content Addition
Growing Listenership & Increasing Content Addition New Songs Added Annual YouTube Views (in. Bn) Quarterly YouTube Views (in. Bn) 73 New releases in Q2FY27 733 57.4 53.2 54.3 228.3 52.0 37% 48.5 210.4 193.9 443 399 112.7 59.6 146 73 Q2FY27 73 Q1FY27 FY24 FY25 FY26 FY27 FY22 FY23 FY24 FY25 FY26 Q2FY2
Slide 12: Financial Performance
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Slide 13: Summary of Last 10 Quarters
Summary of Last 10 Quarters (₹ Crs) 140.0 130.0 Cumulative 120.1 (10 quarters) 120.0 110.0 103.9 106.5 100.0 94.3 Revenue 88.1 89.2 90.0 912.8 80.6 78.5 77.7 80.0 73.9 70.0 65.5 58.7 59.0 60.0 53.2 Content Cost 48.2 44.6 50.0 43.6 44.2 45.7 43.9 201.1 40.0 30.6 29.9 26.2 23.5 30.0 20.0 12.7 13.8 14.
Slide 14: Summary of Last 5 Years
Summary of Last 5 Years (₹ Crs) 375.5 310.7 241.6 216.6 186.8 166.6 +30.0% 135.6 127.2 76.5 71.0 64.6 62.4 59.2 55.6 32.7 FY22 FY23 FY24 FY25 FY26 Revenue PAT Content Cost 13
Slide 15: Business Performance
Business Performance (₹ Crs) Revenue Op. EBITDA Op. EBITDA Margins (%) +35% +25% -550 bps 120.1 76.0 84.6 70.5 89.2 67.8 Q2FY26 Q2FY27 Q2FY26 Q2FY27 Q2FY26 Q2FY27 Revenue Op. EBITDA Op. EBITDA Margins (%) +28% +11% -910 bps 226.6 138.2 70.1 124.4 61.0 177.3 H1FY26 H1FY27 H1FY26 H1FY27 H1FY26 H1FY27
Slide 16: Industry Leading Financial Performance
Industry Leading Financial Performance Revenue EBIT & EBIT Margin (₹ Crs) 55.1% 66.8% 67.8% 74.1% 376 292 +26% 311 +40% 224 242 171 187 106 FY23 FY24 FY25 FY26 FY23 FY24 FY25 FY26 ROE EPS 92% 16.9 86% 81% +42% 13.0 64% 9.9 5.9 FY23 FY24 FY25 FY26 FY23 FY24 FY25 FY26 15
Slide 17: Profit & Loss Statement
Profit & Loss Statement Particulars (Rs. in Crs) Q2FY27 Q2FY26 Y-o-Y Q1FY27 Q-o-Q H1FY27 H1FY26 Y-o-Y Revenue From Operations 120.1 89.2 35% 106.5 13% 226.6 177.3 28% Content Cost 26.2 13.3 97% 44.6 -41% 70.8 36.8 93% Employee Benefits Expenses 3.6 3.4 4.0 7.6 6.5 Other Expenses 5.6 4.7 4.3 10.0 9.7
Slide 18: Balance Sheet
Balance Sheet Equity & Liabilities (₹ in Cr) Sept’26 Mar’26 Assets (₹ in Cr) Sept’26 Mar’26 Equity Share Capital 12.7 12.8 Non-Current Assets Other Equity 311.5 247.2 Property, plant and equipment 12.3 14.1 Total Equity 324.2 260.0 Other intangibles 0.1 0.1 Non- Current Liabilities Investment Proper
Slide 19: Cash Flow Statement
Cash Flow Statement Cash Flow Statement (Rs. Crs.) Sept’26 Mar’26 Cash Flow from Operating Activities Profit before Tax 146.3 291.9 Adjustment for Non-Operating Items -6.6 -13.1 Operating Profit before Working Capital Changes 139.7 278.8 Changes in Working Capital -21.4 -9.1 Cash Generated from Oper
Slide 20: Music – A Digital Journey
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Slide 21: Digital Advertising – Key Driver of Indian Music Industry
Digital Advertising – Key Driver of Indian Music Industry Indian Digital Ad Industry (₹ Crs) India's digital advertising industry reached Rs 71,621 crore in 2025, up from Rs 49,251 crore in 2024, and is projected to grow at a CAGR of 17% between CY2025 and 98,034 CY2027. By then, digital media is ex
Slide 22: 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 70 70 65 Digital 65 59 60 Radio Cinema OOH 54 55 4.0% Television Print 50 48 1.0% 21.0% 14.0% 1.0% 45 42 42 39 40 35 35 29 29
Slide 23: Few Industry Reports
Few Industry Reports EY Media FICCI Report 2026 Entertainment FICCI Digital Advertising in India dentsu Global Music Report IFPI dentsu IFPI Digital Advertising in India Global Music Report EY Media & Entertainment Report 2026 22
Slide 24: Thank You
Company : Investor Relations Advisors : MUFG Intime India Private Limited A part of MUFG Corporate Markets, a division of MUFG Pension & Market Services Tips Music Limited CIN: L92120MH1996PLC099359 Mr. Nikunj Jain nikunj.jain@in.mpms.mufg.com Email id: investorrelations@tips.in investorrelations@ti