Saregama India Limited · NSE:SAREGAMA
Saregama India — Q2 FY25 Earnings Presentation
31 slides from Saregama India's earnings presentation, 2024
Slide 1: Saregama India Limited Quarterly Presentation Q2 FY25
SAREGAMA SAREGAMAINDIA INDIALIMITED LIMITED || QUARTERLY QUARTERLYPRESENTATION PRESENTATION| |Q2Q2FY25 FY25
Slide 2: Saregama | Strengths
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 property portfolio of 160K+ so
Slide 3: Saregama | Key Financial Metrics
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 FY19 FY20 FY21 FY22 FY23 FY24 FY
Slide 4: Global Industry Highlights
GLOBAL INDUSTRY HIGHLIGHTS 4
Slide 5: The Growth of Global Music Industry Continues
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 0.3 0.3 0.3 2.1 17.5 0.2 3.2 1.3
Slide 6: Subscription Business Is Growing Globally
SUBSCRIPTION BUSINESS IS GROWING GLOBALLY
Slide 7: Indian Media & Entertainment Sector expected to grow
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 SIZE (2023): MANAGEMENT NEXT 3 YEAR
Slide 8: India's Influencer Marketing Industry expected to grow at 18% CAGR
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 from influencers way forward for a
Slide 9: Company Overview
COMPANY OVERVIEW 9
Slide 10: Segmental Growth
SEGMENTAL GROWTH 23% CAGR 20% CAGR 5,441 * 1,159 * 4,410 1,085 1,024 * 3,585 * 2,839 702 2,361 2% 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, INR 155Mn in FY21 and INR 21Mn in FY20 are excluded FY24 C. Video :
Slide 11: Saregama | Licensing Partners
SAREGAMA | 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
OPERATIONAL HIGHLIGHTS 12
Slide 13: Music: Licensing + Artist Management
MUSIC : LICENSING + ARTIST MANAGEMENT REVENUE PER QUARTER (INR Mn) 1,700 1,616 1,500 1,480 1,300 1,319 1,331 1,198 1,217 1,100 1,178 1,125 1,079 1,028 900 992 927 882 809 802 786 700 500 592 300 100 Q2 FY21 Q3 FY21 Q4 FY21 Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY22 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 Q2 FY
Slide 14: Music: Licensing
MUSIC : LICENSING • OTT: Progressive shift seen as paid subscription replaces free consumption. Strong revenue growth in medium to long-term despite short term pressure (due to minimum guarantees going away) • Brand Licenses: Mahindra Thar (Mahindra & Mahindra), Dabur Babool (Dabur), Lux (HUL), Pond
Slide 15: Music: Licensing | Chartbusters of H1 FY25
MUSIC : LICENSING | CHARTBUSTERS OF H1 FY25 HINDI
Slide 16: Music: Licensing | Chartbusters of H1 FY25
MUSIC : LICENSING | CHARTBUSTERS OF H1 FY25 TELUGU TAMIL MALAYALAM
Slide 17: Music: Licensing
MUSIC : LICENSING GROWING FASTER THAN COMPETITION ON YOUTUBE CONSUMPTION YoY YT Views Growth SIL Vs Competition 46% 28% 27% 8% 5% 0% 2% -5% -1% FY22 FY23 FY24 -4% -5% -6% -8% -10% -18% SIL YoY % Growth C 1 YoY % Growth C 2 YoY % Growth C 3 YoY % Growth C 4 YoY % Growth • The above growth is basis ye
Slide 18: Music: Licensing | Songs Released (Film Music)
MUSIC : LICENSING | SONGS RELEASED Film Music HINDI MALAYALAM TAMIL TELUGU KANNADA Alia Bhatt & Diljit Dosanjh Antony Varghese Pepe Suriya & Bobby Deol Baadshah Kichcha Sudeep & Raj B Shetty Ram Charan Tamanna Bhatia, Madhubanti Antony Pepe & Raj B Shane Nigam & Niharika Konidela Sid Sriram Bagchi &
Slide 19: Music: Licensing | Songs Released (Non-Film Music)
MUSIC : LICENSING | SONGS RELEASED Non-Film Music HINDI GUJARATI BHOJPURI BENGALI PUNJABI DEVOTIONAL Arjun Tanwar Rajesh Ahir Neelkamal Singh Madhurima Goswami Amar Sandhu Gajendra Pratap Gurdeep Mehndi Rakesh Barot & Kajal Meheriya Sushmita Dey Satindar Sartaaj Swati Mishra Pramod Premi Yadav Praga
Slide 20: Music: Artist Management
MUSIC : ARTIST MANAGEMENT Maahi Rj Karishma RJ Princy Rinkal Parekh Daler Mehndi Paradox The Tabla Guy 14.8M Followers 4.1M Followers 3.8M Followers 4.7M Followers 1.9M Followers 415K Followers Pragati Nagpal Tanya Sharma Saurabh Ghadge Viraj Ghelani Pranav Chandran Raghav Gurdeep Mehndi Arjun Tanwa
Slide 21: Music: Retail
MUSIC : RETAIL • Transition from sales through distribution channel to sales only CARVAAN SALES (Units’000) through E-commerce and Modern Retail outlets 250 • While the volumes and topline will shrink, profitability margins improves through control of costs associated with physical 200 distribution
Slide 22: Video: Films, TV & Digital Content
VIDEO : FILMS, TV & DIGITAL CONTENT • Jeetu Joseph’s film “Nunakuzhi” in Malayalam Upcoming releases released in Q2 FY25 received a positive A. Films response from audience. “Manorathangal” anthology web-series in Malayalam sold to Zee5. • Upcoming releases include Mammootty’s “Bazooka” in Malayalam
Slide 23: C. Digital Content
C. Digital Content VIDEO : FILMS, TV & DIGITAL CONTENT 22M+ 3M+ Followers & Subscribers 8M+ Followers & Subscribers 6M+ Followers & Subscribers Followers & Subscribers • Unravel Australia, a branded web-series with Australia Tourism, released on Gobble, amassing over 11 Mn views and growing • Half L
Slide 24: Events
EVENTS • Saregama's Live kicks off the “Dil Luminati” India Tour 2024 in October’24 with sold – out shows in Delhi. • The tour has already broken records, becoming the fastest-selling and highest-grossing concert event in Indian history • Launched “Yeh Shaam Mastani” with Bollywood veteran Zeenat Am
Slide 25: Financial Highlights Consolidated
FINANCIAL HIGHLIGHTS CONSOLIDATED 25
Slide 26: Quarterly Financial Summary
QUARTERLY FINANCIAL SUMMARY Particulars (INR Mn) Q2 FY25 Q1 FY25 Q-o-Q Growth Q2 FY24 Y-o-Y Growth Revenue from Operations • Music : Licensing + Artist Management 1,480 1,331 11% 1,217 22% • Music : Retail 212 247 (14)% 352 (40)% • Video 720 465 55% 151 377% • Events 6 10 (40)% 4 50% Revenue from Op
Slide 27: Adjusted EBIDTA to PAT
ADJUSTED EBIDTA TO PAT Q-o-Q Y-o-Y Particulars (INR Mn) Q2 FY25 Q1 FY25 Q2 FY24 FY 24 Growth Growth Revenue from Operations (A) 2,418 2,053 18% 1,724 40% 8,030 Total Expenses (B) 1,576 1,373 15% 1,004 57% 5,001 Adjusted EBIDTA (C= A-B) 842 680 24% 720 17% 3,029 Adjusted EBIDTA Margin (%) 35% 33% 42%
Slide 28: Balance Sheet
BALANCE SHEET As at 30th As at 31st As at 30th As at 31st Equity and Liabilities (INR Mn) Assets (INR Mn) September 2024 March 2024 September 2024 March 2024 Shareholder's fund Non-current assets (a) Property, plant and equipment 2,226 2,238 (a) Equity share capital 193 193 (b) Right-of-use assets 2
Slide 29: Cash Flow Statement
CASH FLOW STATEMENT Particulars (INR Mn) H1 FY25 FY 24 Pre-Tax Profit 1,100 2,708 Change in other operating activities ( including non-cash Items) (27) (400) Change in Working capital 2,142 (348) Taxes Paid (308) (514) Net cash generated from Operating Activities (A) 2,907 1,446 Spent on New Content
Slide 30: Financial Charts (Consolidated)
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 5,215 1,135 * 463 400 2,839 2,500
Slide 31: 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