#1ROYAL PRESS 47E BUTT LANE, CALCUTIS INDIA nani in & as SHYAM SINGHA ROY DULQUER SALMAAN PRESENTS Pyan Di Habit KURUP Kahani a sidnaaz song TELUGU RP - Sanjiv Goenka Group MALAYALAM PUNJABI SAREGAMA INDIA LIMITED HINDI QUARTERLY PRESENTATION | Q3 FY22 पानी पानी BHOJPURI sa re ga ma#2Saregama Strengths sa re ga ma are India's only entertainment company with IP offerings across media channels (music, film, TV and print), delivery platforms (physical and digital) and business models (licensing and retail) Large intellectual property portfolio of 130K+ songs, 62 films and 6K+ hours of TV content Strong licensing relationships with streaming and social media platforms for music and video Increasing IP library with a growing presence in all leading Indian languages Capabilities in data analytics and infringement tracking for content acquisition and IP protection - Strong financial position with track record of revenue growth, margin expansion and cash flow generation Experienced and creative leadership through Management Team and Promoter Group Sa re ga ma 2#3Strategic Overview DIGITISATION DRIVING GROWTH Digital Boom in India ~700M smart phones Cheap Data #stay-at-home driving Increase in App Usage Video/Music Streaming Netflix / Spotify / Gaana Social Media YouTube / Facebook Video Sharing Instagram/ Tik Tok / Josh / Triller Gaming E-Commerce Amazon/Flipkart Chat/Mail WhatsApp/Gmail driving 130k+ Songs | 62 Movies | 6k+ hrs of TV Series | Advantage Saregama Increase in Demand for Content Music Films Games Web Series TV Series Podcasts Sa re ga ma 3#4Strategic Overview To be a Pure Play Content Company capitalizing on the global content consumption boom driven by the ever-increasing Digitization Monetisation of Existing IP 000 Building of New IP Market Leadership in Music Segment Through licensing to EVERY 3rd party Digital (music, video, social) and TV platform. Carvaan transitioning from being a Product with only one-time margin to a Platform with upfront margin and recurring advertising and subscription revenue. Sa re ga ma Cementing leadership position with New film and non-film music acquisition across Hindi, Tamil, Bhojpuri, Gujarati, Punjabi, Telugu, Malayalam and other regional languages. Producing Thematic films and Web Series, with Story as the only hero, targeted at youth. Revenue primarily from licensing to digital platforms. Scale allowing lower cost of production. IP Creation over next 3-5 years 60 New Films and Web Series Episodes 1200-1500 hrs of new TV serials content 4#5Saregama wants to take Market Leadership position in Indian Music Disproportionate share of New Content across Hindi & Regional Languages + Strategic Acquisitions to help Plug the Content Gaps of last 25 years and strengthen our new content play Catalogue Strength Sa re ga ma + Artiste Management 5#6Saregama Music IP Fast Growing Licensing Revenue A. Saregama's Focus on New Music FY21 FY20 FY19 FY18 FY17 Licensing Revenue (INR Mn) * 2,839 * 2,361 1,949 1,478 1,388 * One time income of INR 155 Mn (FY21) and INR 21 Mn (FY20) are excluded On account of B. Growing customer interest in Retro Music Catalogue Usage (Bn) C. Presence across all Indian Languages Share of Saregama's Songs by language Share of Saregama's Songs by Decades 2001-2021 29% 30% FY21 FY20 83 63 1981-2000 29% 28% FY19 53 1961-1980 27% 37% FY18 31 Till 1960 15% 5% FY17 13 Count of Songs Revenue 85 Kannada, 2% Others 15% Gujrati 2% Malayalam 5% Marathi 5% Punjabi 6% O Telugu 6% Tamil 9% Hindi 29% Bengali 20% A typical movie has 5 songs. Assuming a music label acquires 1000 movies in a year, it will get 5k songs. By comparison, Saregama owns 130k songs, each digitised with rich metadata behind it, giving it a big competitive advantage Sa re ga ma 6#7Our Music licensing Partners Music Streaming Partners Spotify g gaana saavn YouTube Music music WYNKMUSIC Sa re ga ma Broadcasting Partners. Star SONY TELEUNION VIACOM 18 & Video Streaming Partners NETFLIX prime video JAYA TV கலைஞர் hungama Music anghami rtvi IBN TODAY NETWORK > resso pandora TIDAL G श्री SANKARA SUN FIREN napster deezer emusic deezeremusic INDIATV THANTHI TV SONY liv புதிய தலைமுறை உண்மை உடனுக்குடன் ZEE MM NT tv FLOWERS PLANET मराठी ALT Disney+ hotstar JioCinema ZEE5 BALAJI Social Media Platforms Brands YouTube O C OSH moj TRILLER G amazon KitKat Levi's M D DREAM11 vivo पे Limca Chingari marico Dabur PhonePe 7#8OPERATIONAL HIGHLIGHTS 8#9Music Segment Operational Highlights . Licensing: Music licenses to following brands: Nestle, Amazon, PhonePe, Vivo, Himalaya etc. Digital Content Licenses: YOUTUBE VIEWS (BILLIONS) PER QUARTER 32 33 32 30 Mere Jeevan Saathi (Balaji Telefilms), Leke Pahela Pahela Pyar (Endemol) etc. 24 26 • Signed a global music licencing deal with short-format video app "Chingari" • Entered into licencing deal with world's first Marathi OTT Platform "Planet Marathi" WHAT'S NEW Acquired music rights of Karan Johar's next directorial film Rocky Rani Ki Prem Kahani starring Ranveer Singh and Alia Bhatt • Released music of hit Telugu (Shyam Singha Roy) and Malayalam (Kurup) films. Non-film hit songs of the quarter were Pani Pani Bhojpuri, Pyar Di Kahani (Punjabi), Do Ghoont (Hindi), Habit (Hindi), Jindigi Nachave (Gujarati) • • Q2-FY21 Q3-FY21 Q4-FY21 Q1-FY22 Q2-FY22 Includes all views related to Saregama IP across its Owned Channels and User Generated Content Q2-FY22 views is under reconciliation with YouTube Habit και SEHRI BABU Q3-FY22 Sa re ga ma Do Ghoont Ryan Di Kahani Heartrait DINGIRI DINGAL Ct. Ch છોરી કરે છે મને ઘાયલ Ca KURUP ఆశ్యామ్ సింగరాయ్ Stan Sing જિંદગી બચાવે આપણાજDJ વગાડે NDAGE CHAVE ADADA DE VAGA Overall, 98 new non film songs released this quarter. This includes 28 Hindi, 33 Bhojpuri, 19 Gujarati, 6 Tamil, 4 Haryanvi, 2 Punjabi, 3 Bengali songs uloft uloft 67 new film songs released during this quarter - 19 Tamil, 18 Telugu, 11 Malayalam, 10 Kannada, 8 Hindi and 1 song in Marathi काला सूट पै काला चरेमा भोजपुरी दो घंट મજબૂરી Majboori असली जरनेटर रंगबाज लवरवा Sg Guryan Singh Ma Arya Sharm 9#10Music Segment Operational Highlights Retail: • Carvaan sales improved during the quarter in sync with festive season . Covid impact was felt only during last week of Dec • Supply situation improving, but chip shortage still a reality • Steady increase in consumption of on-demand podcasts Lifestyle, TV & Film editorji SOUND SLEEP WAVES Jai Bajrangi BBC MINUTE Sadhguru THE ISHA FOUNDATION PERFECT POUR KAAR DAKAAR Navratri SUREGANO STORIYAAN Log CHULBULI TALES GUNMAG A PREGNANT PAPA BAAP BEETI PODCAST VAH DEWAN अध्याय १ के साथ श्रीमद भगवद गीता ESTO The Yoga Institute kuch Sinago yaar! with it Ra 81 Carvaan Sales (units '000s) 138 110 2nd Wave Lockdown 103 45 141 Sa re ga ma Q2-FY21 Q3-FY21 Q4-FY21 Q1-FY22 Q2-FY22 Q3-FY22 Future Outlook ■ Reliance on Natural Pull from the market ☐ Rajesh Beri Tight cost controls to continue BERI GOOD STORIES 10#11Films, Web Series & TV Segment Operational Highlights A YOODLEE SERIES PRITHVIRAJ SUKUMARAN BISCUIT KING INSPIRED BY THE LIFE OF RAJAN PILLAI Films and Web Series • Completing shoot of 2 Web Series. Licensing deals closed. Delivery expected over next 4 mos Announced our next Hindi web series "The Biscuit King" based on the life of Rajan Pillai starring Prithiviraj Sukumaran • SOONL Production ongoing on 1 Malayalam and 1 Punjabi film AYOOOLEE FILM झोंनिक्ली 26 2022 DIRECTES PAMATYA SARPOTDAN • Marathi Future Outlook Movie Zombivli expected to be released in Q4 'சந்திரலேகா அன்சே MAANGA MAAR TV Segment IN CINEMAS THIS REPUBLIC DAY Sa re ga ma • • • Roja and Anbe Vaa being the Slot Leader in their respective prime time slots. Saregama TV Shows YouTube channel garnered 588 Mn views in Q3 Comedy series "Naanga Vera Maari" launched on YouTube, received good response from the audiences Future Outlook • TV business expected to be impacted in Q4 due to Covid- led lockdowns • Unlocking the value of existing IP through language remakes, new platform licensing and syndication 11#12FINANCIAL HIGHLIGHTS CONSOLIDATED 12#13Quarterly Financial Summary • Particulars (INR Mn) Revenue from Operations Music TV & Films Publication Revenue from Operations Q3 FY22 Q2 FY22 Q-o-Q Growth Q3 FY21 Y-O-Y Growth 1,333 1,216 10% 1,142 17% 156 223 (30)% 186 (16)% 14 12 17% 11 27% 1,503 1,451 629 535 4% 18% 1,339 436 12% 44% Operating Income before Content Charge, Interest and Depreciation (OIBCID) Content Charge include the following charges related to the new content during the year: 1) Amount amortised against the Minimum Guarantee advance paid in case of Royalty based deals Content charge does not include any royalty paid post recoupment of the Minimum Guarantee amount 2) Amount amortised again the one-time fee paid in case of Outright purchase-based deals Revenue from Operations (INR Mn) 3) Marketing of new content OIBCID (INR Mn) & OIBCID Margin 14 42% 40% 12 11 156 37% 12 223 35% 33% 186 33% 11 66 210 12 119 Sa re ga ma 1,004 1,142 1,013 919 1,216 1,333 387 436 411 421 535 629 Q2-FY21 Q3-FY21 Q4-FY21 Q1-FY22 Q2-FY22 Q3-FY22 Q2-FY21 Q3-FY21 Q4-FY21 Q1-FY22 Q2-FY22 Q3-FY22 Music TV Publication OIBCID OIBCID Margin 13#14OIBCID to PAT Sa re ga ma Q-o-Q Y-o-Y Y-O-Y Particulars (INR Mn) Q3-FY22 Q2-FY22 Q3-FY21 9M-FY 22 9M-FY 21 Growth Growth Growth Revenue from Operations (A) 1,503 1,451 4% 1,339 12% 4,004 3,185 26% Total Expenses (B) 874 916 (5)% 903 (3)% 2,419 2,146 13% OIBCID (C=A-B) 629 535 18% 436 44% 1,585 1,039 53% OIBCID Margin (%) 42% 37% 33% 40% 33% Content Charging Cost (D) 115 114 1% 42 174% 297 100 197% Depreciation (E) 6 6 6 18 19 (5)% Finance Cost (F) 9 14 (36)% 8 13% 30 26 15% Other Income (G) 81 52 56% 34 138% 161 122 32% PBT (C-D-E-F+G) 580 453 28% 414 40% 1,401 1,016 38% Tax 144 115 25% 98 47% 354 253 40% PAT 436 338 29% 316 38% 1,047 763 37% PAT Margin (%) 29% 23% 24% 26% 24% Diluted EPS 23.52 19.41 18.25 58.82 43.57 Content Charge include the following charges related to the new content during the year: 1) Amount amortised against the Minimum Guarantee advance paid in case of Royalty based deals Content charge does not include any royalty paid post recoupment of the Minimum Guarantee amount 2) Amount amortised again the one-time fee paid in case of Outright purchase based deals 3) Marketing of new content 14#15Balance Sheet Sa re ga ma As at 31st As at 31st Equity and Liabilities (INR Mn) Shareholder's fund Assets (INR Mn) Dec' 2021 March' 2021 As at 31st Dec' 2021 As at 31st March' 2021 Non-current assets (a) Equity share capital 193 174 (a) Property, plant and equipment * 2,140 2,046 (b) Other equity* 13,862 4,884 (b) Right-of-use assets 14 11 Net worth 14,055 5,058 (c) Investment properties 22 23 (a) Non-controlling interest 36 31 (d) Intangible assets 333 179 (e) Intangible assets under development 18 20 Non-current liabilities (f) Financial assets (a) Financial liabilities (i) Investments 1,696 1,114 (i) Lease liabilities 11 8 (ii) Other financial assets 3,713 19 (b) Employee benefit obligations 46 42 (c) Deferred tax liabilities (net) 591 505 Current liabilities (a) Financial liabilities (g) Other non-current assets Current assets (a) Inventories (b) Financial assets 158 112 983 692 (i) Lease liabilities 4 4 (i) Investments 4,010 252 (ii) Trade payables 649 563 (ii) Trade receivables 910 874 (iii) Other financial liabilities 356 648 (iii) Cash and cash equivalents 527 111 (b) Other current liabilities 518 255 (iv) Bank balances other than (iii) above 1,039 1,338 (c) Provisions (v) Loans 184 92 889 709 (d) Employee benefit obligations 13 18 Total 17,168 7,841 (vi) Other financial assets (c) Current tax assets (net) (d) Other current assets Total 53 42 201 197 1,167 719 17,168 7,841 * Include INR.96 Mn arising on account of Revaluation of land during the quarter ended 30 June, 2021 with corresponding credit to Other Equity. 15#16Cash Flow Statement Sa re ga ma Particulars (INR Mn) Pre-Tax Profit 9M-FY22 1,401 FY 21 1,519 Change in other operating activities (including non-cash Items) (19) (176) Change in Working capital (249) 692 Taxes Paid (362) (139) Net cash generated from Operating Activities (A) 771 1,896 Redemption/(Investment) in Fixed Deposits with maturity > 3m (3,742) (971) Redemption/(Investment) in Mutual Fund (3,746) (250) Net cash used in Fixed assets and other Investing activities (223) (139) Net cash used in Investing Activities (B) Net cash generated from/(used in) Treasury Shares Repayment of Short-term Borrowing Proceeds from Issue of Share Capital # Repayment of Lease Liability Dividend paid Interest paid Net cash generated from/(used in) Financing Activities (C) Net increase in Cash and Cash Equivalent Cash and Cash Equivalents at the beginning of the period (7,711) (1,360) 26 (17) (92) 7,327 1 (3) (6) (349) (26) (1) (6) 7,000 (146) 60 390 460 70 Effect of Translation of foreign currency cash and cash equivalents Cash and Cash Equivalents at End of the period * # Net of Issue expense of INR 173 Mn * Balance as on 31 March 2021 include cash earmarked for Dividend declared on 23rd March 2021 - INR 349 Mn 7 0 527 460 16#17FINANCIAL HIGHLIGHTS STANDALONE 17#18Financial Performance Sa re ga ma Particulars (INR Mn) Q-o-Q Q3-FY22 Q2-FY22 Q3-FY21 Growth Y-o-Y Growth Y-O-Y 9M-FY 22 9M-FY 21 Growth Turnover 1,466 1,421 3% 1,312 12% 3,909 3,132 25% Other Income 82 52 58% 34 141% 162 118 37% Total Revenue 1,548 1,473 5% 1,346 15% 4,071 3,250 25% Total Expenses 935 984 (5)% 946 (1)% 2,568 2,212 16% Depreciation & Amortisation 35 27 30% 12 192% 85 36 136% Finance Cost 9 14 36% 8 13% 30 26 15% PBT 569 448 27% 380 50% 1,388 976 42% Tax 145 115 26% 98 48% 355 253 40% PAT 424 333 27% 282 50% 1,033 723 43% PAT Margin (%) 29% 23% 21% 26% 23% Diluted EPS 23.02 19.10 16.29 58.24 41.72 18#19Balance Sheet Equity and Liabilities (INR Mn) Shareholder's fund (a) Equity share capital (b) Other equity* Net worth Non-current liabilities (a) Financial liabilities Sa re ga ma As at 31st Dec' 2021 As at 31st As at 31st Assets (INR Mn) March 2021 Dec' 2021 As at 31st March 2021 Non-current assets (a) Property, plant and equipment* 2,138 2,045 193 13,790 13,983 174 (b) Right-of-use assets 14 11 4,921 (c) Investment properties 22 22 5,095 (d) Intangible assets 333 179 (e) Intangible asset under development 18 19 (f) Investment in subsidiaries and joint venture 186 186 (g) Financial assets (i) Lease liabilities 11 7 (i) Investments 1,387 912 (b) Employee benefit obligations 39 36 (ii) Other financial assets 3,713 19 (c) Deferred tax liabilities (net) 566 492 (h) Other non-current assets 158 112 Current assets Current liabilities (a) Inventories 956 655 (a) Financial liabilities (b) Financial assets 4 (i) Lease liabilities 4 (i) Investments 4,010 252 (ii) Trade payables 614 526 (ii) Trade receivables 923 896 (iii) Cash and cash equivalents 449 63 (iii)Other financial liabilities 326 630 (iv) Bank balances other than (iii) above 1,039 1,338 (b) Other current liabilities 496 234 (v) Loans 206 113 (c) Provisions 887 708 (vi) Other financial assets (c) Current tax assets (net) 53 39 190 189 (d) Employee benefit obligations 13 17 Total 16,939 (d) Other current assets Total * Include INR.96 Mn arising on account of Revaluation of land during the quarter ended 30 June, 2021 with corresponding credit to Other Equity. 1,144 699 7,749 16,939 7,749 19#200.02 2,185 Financial Charts (Consolidated) Revenue from Operations (Turnover) (INR Mn) Music Licensing Revenue (INR Mn) FY17 FY18 FY19 FY20 FY21 Debt to Equity Ratio Return on Equity (ROE) (%)* FY17 FY18 FY19 FY20 FY21 * As on 31st Mar’21, Debt is Nil FY17 FY18 FY19 FY20 FY21 * ROE = PAT / Shareholders Equity * Shareholders Equity = Equity share capital and free reserves * LO PAT (INR Mn) Diluted EPS (INR) FY17 FY18 FY19 FY20 FY21 FY17 FY18 FY19 FY20 FY21 FY17 FY18 FY19 FY20 FY21 * One time income of INR 155 Mn (FY21) and INR 21 Mn (FY20) are excluded 5.0 16.2 Book Value Per Share (INR) Dividend per Share (INR) FY17 FY18 FY19 FY20 FY21 LO 1.5 3.0 3.0 1.5 FY17 FY18 FY19 FY20 FY21 20 20.0 31.2 25.3 65.0 Sa re ga ma#21Capital Market Data 600% 500% 400% 300% 200% 100% 0% Jan-21 Feb-21 Mar-21 Apr-21 May-21 Jun-21 Jul-21 -100% Price Data (As of 31st December 2021) Face Value Market Price 52 Week H/L Market Cap (INR Mn) Equity Shares Outstanding (Mn) 1 Year Avg. Trading Volume ('000) Saregama Sensex Aug-21 Sep-21 Oct-21 Nov-21 Dec-21 Shareholding Pattern as on 31st December2021 INR 10.0 5,251.4 5,487.0/801.3 1,01,252.0 19.3 39.1 Others 22.16% DII 3.64% FII 16.55% Promoters 57.65% Sa re ga ma 21#22Disclaimer Sa re ga ma Saregama India Ltd. Disclaimer: No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained in this presentation. Such information and opinions are in all events not current after the date of this presentation. Certain statements made in this presentation may not be based on historical information or facts and may be "forward looking statements" based on the currently held beliefs and assumptions of the management of Saregama India Ltd., which are expressed in good faith and in their opinion reasonable, including those relating to the Company's general business plans and strategy, its future financial condition and growth prospects and future developments in its industry and its competitive and regulatory environment. Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, financial condition, performance or achievements of the Company or industry results to differ materially from the results, financial condition, performance or achievements expressed or implied by such forward-looking statements, including future changes or developments in the Company's business, its competitive environment and political, economic, legal and social conditions. Further, past performance is not necessarily indicative of future results. Given these risks, uncertainties and other factors, viewers of this presentation are cautioned not to place undue reliance on these forward-looking statements. The Company disclaims any obligation to update these forward-looking statements to reflect future events or developments. This presentation is for general information purposes only, without regard to any specific objectives, financial situations or informational needs of any particular person. This presentation does not constitute an offer or invitation to purchase or subscribe for any securities in any jurisdiction, including the United States. No part of it should form the basis of or be relied upon in connection with any investment decision or any contract or commitment to purchase or subscribe for any securities. None of our securities may be offered or sold in the United States, without registration under the U.S. Securities Act of 1933, as amended, or pursuant to an exemption from registration there from. This presentation is confidential and may not be copied or disseminated, in whole or in part, and in any manner. 22