Saregama India Limited · NSE:SAREGAMA
Saregama India — Investor Presentation (July 2025)
58 slides from Saregama India's investor presentation, Jul 23, 2025
Slide 1: Exchange filing cover letter for Corporate Presentation
Date: 23rd 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: Saregama India Limited
{ SAREGAMA INDI A LIMITED
Slide 3: India's Leading and Only Entertainment Company with Diversified Business
India’s Leading and Only Entertainment Company with Diversified Business First recording of an Indian RPG Group acquired the TV Serial production Started investing in Acquired digital entertainment song by Gauhar Jaan. company started Carvaan launched non-film music Company 1902 1946 1986 2000 2001
Slide 4: Hitting the Right Notes: Core Strength
Hitting the Right Notes: Core Strength India’s only entertainment company with IP offerings across media channels (music, films, digital series, short-format TV serials, and events), delivery platforms (digital and physical) and business models (licensing, advertising and retail) Large IP portfolio
Slide 5: Key Financial Metrics
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 2,185 511 389 237 159 FY17 FY18 FY19 FY20 FY21 FY22 FY2
Slide 6: Digital Footprint
Digital Footprint Subscribers (IG + FB) Followers 350 Mn+ DAILY INCREMENTAL YOUTUBE VIEWS FROM MUSIC IP 1.4 Bn+
Slide 7: Industry Overview
INDUSTRY OVERVIEW
Slide 8: The Growth of Global Music Industry Continues
The Growth of Global Music Industry Continues Global recorded music revenue grew 4.8% to reach USD 29.6 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 2.4 1.2 0.9 0.4 1.8 1.1 2.5 1.4 0.1 1.2 0.3 20.4 2.5 0.3 0.3 0.3 2.2 19.3 1.2 0.3 0.3 0.3 1.6
Slide 9: Subscription Business is Growing Globally
Subscription Business is Growing Globally Spotify reports consistent growth in premium subscriber base 18% 17% 15% 22% 12% 21% 21% 13% 21% 25% 21% 26% 27% 28% 28% 36% 35% 39% 37% 38% CY20 CY21 CY22 CY23 CY24 Europe North America Latin America Rest of World Source: Derived from Spotify published resu
Slide 10: Indian Media & Entertainment Sector Expected to Grow on Digitisation
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 EVENTS ARTIST/INFLUENCER Industry size (2024): MANAGEMENT Film industry size (2024): Industry size (2024): INR 32,000 Mn INR 1,87,000 Mn I
Slide 11: India's Influencer Marketing Industry Expected to Grow at 24% CAGR
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 (INR Mn) 22,000 18,750 15,000 EY
Slide 12: Digitisation Driving Growth
Digitisation Driving Growth Digital Increase Increase in Boom in in App Demand for Increase in Revenue India Usage Content Music Streaming ~750M smartphones Music Spotify / Gaana 22M connected TVs Films SVoD Social Media Cheap data Web series Netflix / JioHotstar YouTube / Facebook Anti-piracy laws
Slide 13: Company Overview
COMPANY -— OVERVIEW >"
Slide 14: Segmental Growth
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 Revenue 52% C. Video : Films, Digital
Slide 15: 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 Through artist management, wherein artis
Slide 16: Path to Leadership Position in the Music Ecosystem
Path to Leadership Position in the Music Ecosystem Acquisition of Enhanced Disproportionate Small & Mid size Capability driven share across Hindi & Regional Languages + Music Catalogues to scale content depth + by a combination of evergreen catalogue and new-age content On the back of Amplifying con
Slide 17: Our Growth Strategy in Video Segment
Our Growth Strategy in Video Segment 1min – 22mins – 45mins – 120mins Pick Films and Cast Pick Series basis primarily basis recoveries from Digital and TV licensing + pre-licensing approval from a VoD/ TV platform + Build Communities of Gen Z across social media Generate Brand + Sponsorship Retain I
Slide 18: Capturing India's Live Event Momentum
Capturing India's Live Event Momentum Leveraging existing music IP and deep + + Tapping into Rising Catering to Experiential Spending a Youth-Driven artiste relationships to build unique, Market high-impact live event experiences for Older Segment Music Festivals, Shows Adopting a test-learn- around
Slide 19: Music Segment: Licensing & Artist Management
MUSIC SEGMENT LICENSING & ARTIST MANAGEMENT
Slide 20: Music | Licensing
Music | Licensing Audio OTT Video OTT Film Music Publishing Create Artiste Music Monetise Sponsorships (&market) Catalogue Societies Derivatives Market using Live Events Pocket Aces Artiste Mgt.
Slide 21: Music | Licensing: Monetisation
Music | Licensing : Monetisation A. Audio OTT B. Video OTT • Saregama’s Music is licensed to multiple Global Platforms • Saregama’s music channels on YouTube have • Saregama earns every time a customer listens to Saregama a cumulative subscriber base of 149 Mn+ subscribers owned song on any OTT app
Slide 22: Music | Licensing: Monetisation
Music | Licensing : Monetisation C. Publishing : Video streaming platforms D. Publishing : TV Channels • Saregama licenses its music to television channels for use in • We license our music to various Video OTT platforms like various TV serials, reality shows etc. Netflix, JioHotstar, Amazon, MX Pla
Slide 23: Music | Licensing: Monetisation
Music | Licensing : Monetisation E. Brands F. Societies • IPRS • Licenses to Brands for use of songs in their ad jingles. Fixed fee for limited period & mediums • 50% of Underlying works licensing revenue • Creating bespoke music properties for Brands • Novex • Fixed fee licenses
Slide 24: Music | Licensing: Monetisation YouTube
Music | Licensing : Monetisation YouTube YT views (Bn pa) YT subscribers (In Mn) 149 517 107 373 84 64 202 44 132 34 104 69 FY20 FY21 FY22 FY23 FY24 FY25 FY20 FY21 FY22 FY23 FY24 FY25 Includes all views related Saregama IP across it’s owned channels and user generated content on YouTube and YouTube
Slide 25: Music | Licensing: Catalogue by Language
Music | Licensing Music Catalogue of the Golden Era across Languages 7% 2% Bengali 18% 7% Gujarati Hindi Kannada 3% 11% Malayalam Marathi Oriya 6% Punjabi Tamil 1% Telugu 5% 34% Urdu 5% 3% Others
Slide 26: Music | Licensing: Creation
Music | Licensing : Creation 3-pronged strategy to maximize Catalogue Revenue Releasing Derivatives Relevant LoFi Acoustic Dance videos to Younger Generation Playlist based Streaming YouTube Promotions Platforms Occasion based Streaming Use our Promotion of the Instagram YT Shorts Platforms influenc
Slide 27: Music | Licensing: Creation
Music | Licensing : Creation Saregama is changing from a Catalogue Label to a New Age one Share of Licensing Revenue from 21st century songs growing (56% in FY25 Vs 52% in FY24) Era wise Breakup 2021-2024 16% 40% 2001-2020 21% 16% 1981-2000 24% 18% 1961-1980 23% 23% Till 1960 16% 3% Count of Songs R
Slide 28: Music | Licensing: Investment in Content
Music | Licensing : Investment in Content (INR Mn) ~10,000 Mn Investment in Content includes marketing costs on new content
Slide 29: Music | Licensing: Major Film Albums Released in FY25
Music | Licensing : Major Film Albums Released in FY25 Film Language No. of Songs Production House Star Cast Box Office Collection (Rs. Cr) Stree 2 Hindi 04 Jio Studios, Maddock Films Shraddha Kapoor, Rajkumar Rao, Pankaj 850+ Tripathi, Tamannaah Bhatia Bad Newz Hindi 08 Dharma Productions Vicky Kau
Slide 30: Music | Licensing: Chartbusters of FY25
Music | Licensing : Chartbusters of FY25 HINDI
Slide 31: Music | Licensing: Chartbusters of FY25
Music | Licensing : Chartbusters of FY25 TELUGU TAMIL MALAYALAM
Slide 32: Music | Licensing: Chartbusters of 2024
Music | Licensing : Chartbusters of 2024 HINDI Count of weeks on Spotify Mumbai Local Pulse weekly charts Songs Released songs of Saregama entered --- Songs ---- --- Weeks on chart --- Industry Saregama 38 Spotify Mumbai local pulse chart Mere Mehboob Mere Sanam 28 1700 370+ Tenu Sang Rakhna 25 Jaan
Slide 33: Music | Licensing: Chartbusters of 2024
Music | Licensing : Chartbusters of 2024 TAMIL BHOJPURI Songs Released songs of Saregama Songs Released songs of Saregama entered entered Industry Saregama 60 Spotify Chennai Industry Saregama 35 Spotify Patna local local pulse chart pulse chart 430+ 180+ 2000+ 155+ Count of weeks on Spotify Chennai
Slide 34: Music | Licensing: Chartbusters of 2024
Music | Licensing : Chartbusters of 2024 TELUGU MALAYALAM Songs Released songs of Saregama Songs Released songs of Saregama entered Industry Saregama 50 entered Industry Saregama 33 Spotify Kochi local Spotify Hyderabad pulse chart 540+ 145+ local pulse chart 205+ 120+ Count of weeks on Spotify Koch
Slide 35: Music | Licensing: Content Creation
Music | Licensing : Content Creation 117M+ 144M+ 121M+ 649M+ 120M+ 130M+ 188M+ 459M+ 121M+ 1495M+ Views from all versions of the song, including lyrical, uploaded on Saregama’s official YouTube channel. Does not include UGC views Data Mining based Predictive Models I De-centralised Decision Making I
Slide 36: Music | Licensing: Major Releases FY26
Music | Licensing : Major Releases FY26 HINDI TELUGU KANNADA Tu Meri Love & War Dhurandhar Aakasam Lo HIT 3 Paradise Premante Devil Kichcha 47 Jawa Main Tera Oka Tara TAMIL MALYALAM MARATHI Thug Life Train Idly Kadai Parasakthi Detective Udumbanchola Sahasam Khashaba Mahaparinirvaan Kirr Katta Kirr
Slide 37: Music | Artist Management
Music | Artist Management
Slide 38: Music | Artist Management: Roster
Music | Artist Management : Roster Rj Karishma Rehaan Roy RJ Princy Tony Kakkar Paradox Lash Curry Maahi 15.3 Mn Followers 6.3 Mn Followers 4.5 Mn Followers 8.2 Mn Followers 2.2 Mn Followers 593 K Followers Pragati Nagpal Rinkal Parekh Saurabh Ghadge Viraj Ghelani The Tabla Guy Pranav Chandran Gurde
Slide 39: Music | Artist Management: Monetisation
Music | Artist Management : Monetisation A. Influencers B. Music based Talent Clout, which is Pocket Aces’ talent management division, The company discovers and grooms new and upcoming exclusively manages 230+ influencers having a follower base of artistes, who are made popular through new IP releas
Slide 40: Retail
RETAIL
Slide 41: Retail
Retail • Transition from sales through distribution channel to 9.1 sales only through E-commerce and Modern Retail outlets 7.4 6.9 • While the volumes and topline will shrink, profitability 5.6 margins improves through control of costs associated with physical distribution 4 4.3 3.9 3.5 • Manpower r
Slide 42: Video Segment
VIDEO SEGMENT FILMS, DIGITAL SERIES, TV, & SHORT FORMAT
Slide 43: Video Segment: Films, Digital Series, TV, & Short Format
Video Segment : Films, Digital Series, TV, & Short Format • Yoodlee Films is Saregama’s production house focussed on creating content for theatrical releases and 3rd party digital platforms & TV • Pocket Aces, through its studio Dice Media, creates Films premium web-series content for OTT platforms
Slide 44: Video Segment: Films
Video Segment : Films FY25 Releases Dilruba Nunakkuzhi Shinda Shinda No Papa Ni Main Sass Kuttni 2 Bazooka (Telugu) (Malayalam) (Punjabi) (Punjabi) (Malayalam)
Slide 45: Video Segment: Films
Video Segment : Films Upcoming Releases Vishwambara Devil Party Animals The Paradise (Telugu) (Kannada) (Hindi) (Telugu)
Slide 46: Video Segment: Digital Series
Video Segment : Digital Series FY25 Releases Upcoming Releases Manorathangal Agra Affair Oops Ab Kya? Hunter: Season 2 Teen Yaar Twisted Pyaar (Malayalam) (Hindi) (Hindi) (Hindi) (Hindi)
Slide 47: Video Segment: TV
Video Segment : TV • Saregama is a leading TV series content producer with a dominant presence in South Indian language programming, Ilakkiya Malli while also maintaining a footprint on national GECs. The 800+ Episodes 380+ Episodes company focuses on content models that ensure IP ownership. • Sareg
Slide 48: Video Segment: Short Format
Video Segment : Short Format The Traitorss - In Girls Hostel Office in parallel universe Are you a red flag if you You fall in love before your Reality Of A Tuition Teacher School in parallel universe come from Delhi? school board exams
Slide 49: Events
EVENTS
Slide 50: Events
Events Saregama Live Artist Shows IP – Musicals Stand UP Comedy Indian International Diljit Dosanjh Disco Dancer Viraj Ghelani Himesh Reshamiya Say Cheese Grandpa Satinder Sartaj Ye Shaam Mastani Divine Music Festival
Slide 51: Events
Events
Slide 52: Financial Highlights
FINANCIAL HIGHLIGHTS
Slide 53: Consolidated Financial Summary
Consolidated Financial Summary Particulars (INR Mn) FY25 FY24 YoY Growth FY23* Revenue from Operations (A) 11,713 8,030 46% 7,366 Total Expenses (B) 8,147 5,001 63% 4,654 Adjusted EBIDTA (C= A-B) 3,566 3,030 18% 2,712 Adjusted EBIDTA Margin (%) 30% 38% 37% Content Charge (D) 1,282 864 48% 679 Deprec
Slide 54: Consolidated Balance Sheet
Consolidated Balance Sheet Equity and Liabilities (INR Mn) FY25 FY24 FY23* Assets (INR Mn) FY25 FY24 FY23* Non-current assets Shareholder's fund (a) Property, plant and equipment 2,222 2,238 2,207 (a) Equity share capital 193 193 193 (b) Right-of-use assets 21 34 7 (b) Other equity 15,641 14,498 13,
Slide 55: Consolidated Cash Flow Statement
Consolidated Cash Flow Statement Particulars (INR Mn) FY25 FY24 FY23 # Pre-Tax Profit 2,761 2,708 2,481 Change in other operating activities ( including non-cash Items) 17 (400) (432) Change in Working capital 1,882 (348) 116 Taxes Paid (806) (514) (669) Net cash generated from Operating Activities
Slide 56: Consolidated Financial Charts
Consolidated Financial Charts 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 FY21 FY22 FY23 FY24 FY25 FY21 FY22 FY
Slide 57: 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
Slide 58: Thank You
THANK YOU