Saregama India Ltd (NSE:SAREGAMA)

Q3 2025 Saregama India Ltd Earnings Call Transcript

Feb 10, 2025 / 10:30AM GMT

Release Date Price: ₹537.25 (+1.47%)

Transcript

Key Points

Positve

Saregama India Ltd (BOM:532163) reported substantial revenue growth, exceeding their guidance of a 30% increase for FY25.
The Music business, including Licensing and Artist Management, grew by approximately 19% year-on-year.
The company is aggressively investing in new content, with a planned investment of over INR1,000 crore in new music content between FY25 and FY27.
Saregama's digital footprint has expanded significantly, with followers across YouTube, Instagram, and Facebook growing to 324 million.
The Live Events business showed strong performance, highlighted by the successful Dil Luminati tour with Diljit Dosanjh, indicating long-term growth potential in this vertical.

Negative

The disproportionate revenue from Live Events, a lower-margin business, led to a decrease in adjusted EBITDA to 21% for the quarter.
The closure of Airtel Wynk, a free audio streaming platform, is expected to cause short-term revenue pain.
The Video segment reported negative EBIT for the nine months of FY25, with profitability still a challenge.
Carvaan's retail revenue dropped by 39% year-on-year, reflecting ongoing challenges in this segment.
The aggressive investment in new content is currently resulting in incremental revenue just matching the content charge-off, impacting short-term profitability.

Operator

Ladies and gentlemen, good day and welcome to the Q3 FY25 results conference call of Saregama India Limited, hosted by Emkay Global Financial Service.

(Operator Instructions)

Please note that this conference is being recorded. I now hand the conference over to Mr. Pulkit Chawla from Emkay Global Financial Services. Thank you and over to you, sir.

Pulkit Chawla

Emkay Global Financial Services - Analyst

Thank you and a very good evening and welcome to the Q3 FY25 earnings conference for Saregama India Limited. From the Management we have with us today, Mr. Vikram Mehra, Managing Director; Mr. Pankaj Chaturvedi, the CFO; Mr. Saket Sah, Group Head Investor Relations and ESG Reporting; and Mr. Pankaj Kedia, Vice President Investor Relations. Without any delay, I'll now hand over the call to the Management for the opening remarks. Over to you, Vikram.

Vikram Mehra

Saregama India Ltd - Managing Director, Executive Director

Thank you and a very good evening to everyone.

This quarter saw our

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