Saregama India Limited — Investor Meet, 08-08-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Saregama posted Q1 operating revenue of ₹206 Cr and PBT of ₹51 Cr. Music revenue grew 12% YoY, with management guiding for 22-23% annual music growth and 32-33% adjusted EBITDA.

Q1 results were impacted by movie delays and temporary YouTube ad pressure. The company acquired NAV Records (Haryanvi music catalog), with revenues expected from Q3. Major content investments are planned for Q3/Q4, targeting a 5-year payback.

Carvaan's profitability is improving. The Video segment, despite a Q1 loss, is projected to be profitable for the full year. Management remains confident in leveraging digital consumption growth and a diversified portfolio, while maintaining prudent content acquisition.