Shemaroo Entertainment Limited — Important, 19-03-2025: Updates

**Financial Highlights:** Shemaroo Entertainment reported strong financial metrics with operating revenues reaching INR 4,808 Mn in 9M FY25, indicating significant growth. EBITDA stands at INR 473 Mn, showcasing resilience despite challenges. The company has shifted its revenue mix toward B2C, which now constitutes about 75% of its income sources.

**Strategic Initiatives and Growth Drivers:** Shemaroo is leveraging macro trends, with a strategic focus on consumer-first content and expanding its digital footprint. Its flagship OTT platform, ShemarooMe, is positioning for growth with fresh content every week, appealing to the large Gujarati-speaking audience.

**Business Developments:** The launch of multiple TV channels has expanded Shemaroo's broadcasting reach, with recent viewership share growth from 2% to 7.6% in the Hindi GEC category. The company’s regional channels are capturing market segments effectively, contributing to enhanced advertising revenues.

**Market Position and Competitive Advantage:** With over 200 million daily views across platforms and a robust content library, Shemaroo is well-positioned in the digital AVOD space. The growth in both digital and traditional media presents a promising landscape for advertising revenue and subscription growth.

**Investor Implications:** Shemaroo's clear focus on digital transformation and B2C initiatives presents a positive outlook for future growth. Investors should monitor the company's innovative content strategy and market capture potential as it continues to scale its operations across diverse platforms.