Saregama India Ltd (BOM:532163)
₹ 522.7 4.85 (0.94%) Market Cap: 100.54 Bil Enterprise Value: 98.85 Bil PE Ratio: 50.13 PB Ratio: 6.52 GF Score: 95/100
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Q1 2025 Saregama India Ltd Earnings Call Transcript

Aug 05, 2024 / 06:30AM GMT
Release Date Price: ₹492.75 (-5.55%)

Key Points

Positve
  • Saregama India Ltd (BOM:532163) reported a 26% increase in operating revenue, reaching 205 crore for Q1 FY25.
  • The company achieved a PBT of 51 crore, aligning with their guidance of a 30% revenue increase for FY25.
  • Saregama's music segment saw significant success with multiple songs topping charts on platforms like Spotify and YouTube.
  • The company released over 330 original tracks across multiple languages, indicating strong content production capabilities.
  • Saregama is investing heavily in new content, with plans to invest over 1,000 crore in new music content over the next three years, aiming for long-term growth.
Negative
  • There was an apparent drop in the Music segment revenue due to the inclusion of Carvaan numbers, which saw a significant decline.
  • The company experienced pressure on YouTube revenue due to a shift in advertising towards political and IPL advertising.
  • The Events business, despite holding 11 concerts in Canada and the USA, did not show significant revenue improvement on a sequential basis.
  • The transition to new content investments has led to increased content charge-offs, impacting short-term profitability.
  • The hardware segment, specifically Carvaan, saw a significant drop in revenue, and the company is planning to exit individual retail stores, which may impact top-line growth.
Operator

Ladies and gentlemen, good day, and welcome to the Q1 FY25 results conference call of Saregama India Limited hosted by Emkay Global Financial Services. (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, Neha. Good afternoon, everyone, and welcome to the Q1 FY25 earnings call for Saregama. From the management, we have with us today, Mr. Vikram Mehra, Managing Director; Mr. Pankaj Chaturvedi, Chief Financial Officer; Mr. Saket Shah, Group Head, Investor Relations and ESG Reporting; and Mr. Pankaj Kedia, Vice President, Investor Relations.

Without any further delay, I shall now hand over the call to the management for their opening remarks. Over to you, Vikram.

Vikram Mehra
Saregama India Ltd - Managing Director, Executive Director

Thank you and good afternoon, everyone. This quarter saw

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