SAREGAMANSE20 January 2023

Saregama India Limited has informed the Exchange about Investor Presentation

Saregama India Limited

Date: 20th January, 2023

The Manager, Listing Department, National Stock Exchange of India Limited Exchange Plaza, C-1, Block G, Bandra – Kurla Complex, Bandra (East), Mumbai – 400 051

The Listing Department BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai – 400 001

Symbol: SAREGAMA

Scrip Code: 532163

Subject: Outcome of Board Meeting held on 20th January, 2023

Dear Sir(s)/Madam,

We write to inform you that pursuant to Regulations 30 and 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (hereinafter referred to as the ‘SEBI Listing Regulations’), the Board of Directors of the Company (‘the Board’), at its Meeting held today, i.e., Friday, 20th January, 2023, has:

1. Considered, approved, and took on record the Unaudited Financial Results (Standalone and Consolidated) of the Company, for the quarter and nine months ended on 31st December, 2022 of the Financial Year 2022-23.

A copy of the said results along with the Limited Review Report issued by the Statutory Auditors of the Company are enclosed herewith for your record.

Further, pursuant to the provisions of SEBI Listing Regulations, please find enclosed the following documents for the quarter and nine months ended on 31st December, 2022 of the Financial Year 2022-23:

Investor Presentation

2. Pursuant to Regulation 42 of the SEBI Listing Regulations, the Board have approved and declared an interim dividend of Rs.3/- per equity share (i.e. 300% on the face value of Re.1/- each) on the paid-up equity share capital of the Company payable to those members whose names appear in the Register of Members of the Company or will appear as beneficial owners (as per particulars furnished by the Depositories viz., National Securities Depository Limited and Central Depository Services (India) Limited) at the closure of the business hours on Thursday, 2nd February, 2023, being the record date to ascertain the eligibility of members to receive the said interim dividend.

SAREGAMA India Limited, 33, Jessore Road, Dum Dum, Kolkata - 700 028, India. Tel: +91 33 2551 2984, Fax: +91 33 2550 0817, Web: www.saregama.com CIN: L22213WB1946PLC014346 Email ID: co.sec@saregama.com

This information is available on the website of the Company www.saregama.com.

The Board meeting commenced at 2.30 pm and concluded at 4.15 pm.

Kindly take the same on record.

Yours faithfully,

For SAREGAMA INDIA LIMITED

Priyanka Motwani Company Secretary and Compliance Officer Membership No: A58041 Encl: As above

B S R & Co. LLP

Chartered Accountants

Unit No. 603, 6th Floor, Tower 1, Plot No. 5, Block – DP, Godrej Waterside, Sector V, Salt Lake, Kolkata – 700091

Telephone: +91 33 4035 4200 Fax: +91 33 4035 4295

Limited Review Report on unaudited consolidated financial results of Saregama India Limited for the quarter ended 31 December 2022 and year to date results for the period from 01 April 2022 to 31 December 2022 pursuant to Regulation 33 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

To the Board of Directors of Saregama India Limited

1. We have reviewed the accompanying Statement of unaudited consolidated financial results of Saregama India Limited (hereinafter referred to as “the Parent”), and its subsidiaries (the Parent and its subsidiaries together referred to as “the Group”) for the quarter ended 31 December 2022 and year to date results for the period from 01 April 2022 to 31 December 2022 (“the Statement”), being submitted by the Parent pursuant to the requirements of Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("Listing Regulations").

2. This Statement, which is the responsibility of the Parent’s management and approved by the Parent’s Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 “Interim Financial Reporting” (“Ind AS 34”), prescribed under Section 133 of the Companies Act, 2013, and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. Our responsibility is to express a conclusion on the Statement based on our review.

3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 “Review of Interim Financial Information Performed by the Independent Auditor of the Entity”, issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

We also performed procedures in accordance with the circular issued by the Securities and Exchange Board of India under Regulation 33(8) of the Listing Regulations, to the extent applicable.

4. The Statement includes the results of the following entities:

Parent :

Saregama India Limited

Subsidiaries :

a. Kolkata Metro Networks Limited

b. Open Media Network Private Limited

c. RPG Global Music Limited

d. Saregama Limited (formerly known as Saregama Plc.)

e. Saregama FZE

f. Digidrive Distributors Limited

g. Saregama Inc. (step-down subsidiary of Saregama India Limited)

B S R & Co. (a partnership firm with Registration No. BA61223) converted into B S R & Co. LLP (a Limited Liability Partnership with LLP Registration No. AAB-8181) with effect from October 14, 2013

Registered Office:

14th Floor, Central B Wing and North C Wing, Nesco IT Park 4, Nesco Center, Western Express Highway, Goregaon (East), Mumbai - 400063 Page 1 of 2

B S R & Co. LLP

Limited Review Report (Continued)

Saregama India Limited

5. Based on our review conducted and procedures performed as stated in paragraph 3 above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement.

6. The Statement includes the interim financial information of seven subsidiaries (including one step- down subsidiary) which have not been reviewed, whose interim financial information reflect total revenues (before consolidation adjustments) of Rs. 571 lakhs and Rs. 5,593 lakhs, total net loss after tax (before consolidation adjustments) of Rs. 160 lakhs and Rs. 245 lakhs and total comprehensive loss (before consolidation adjustments) of Rs. 33 lakhs and Rs. 21 lakhs, for the quarter ended 31 December 2022 and for the period from 01 April 2022 to 31 December 2022 respectively, as considered in the Statement. According to the information and explanations given to us by the Parent’s management, these interim financial information are not material to the Group.

Our conclusion is not modified in respect of this matter.

For B S R & Co. LLP

Chartered Accountants

Firm’s Registration No.:101248W/W-100022

JAYANTA MUKHOPADHYAY

Digitally signed by JAYANTA MUKHOPADHYAY Date: 2023.01.20 16:00:12 +05'30'

Jayanta Mukhopadhyay

Partner

Membership No.: 055757

UDIN:23055757BGYIGN1030

Kolkata

20 January 2023

Page 2 of 2

Saregama India Limited Registered Office: 33, Jessore Road, Dum Dum, Kolkata - 700 028 web: www.saregama.com, Email id: co.sec@saregama.com, Phone no: 033-2551-2984 CIN:L22213WB1946PLC014346

Statement of Consolidated Financial Results for the Three Months and Nine Months Ended 31 December 2022

3 Months ended 31 December 2022 (Unaudited)

3 Months ended 30 September 2022 (Unaudited)

3 Months ended 31 December 2021 (Unaudited)

9 Months ended 31 December 2022 (Unaudited)

9 Months ended 31 December 2021 (Unaudited)

Year ended 31 March 2022 (Audited)

(Rs. in Lakhs)

Particulars

Sl. No.

Income

(a) Revenue from operations (b) Other income

Total Income

Expenses

(a) Operational cost* (b) Employee benefits expense (c) Finance costs (d) Depreciation and amortisation expense (e) Advertisement and sales promotion (f) Royalty expense (g) Other expenses

Total Expenses

Profit before exceptional items and tax (1-2)

Exceptional Items

Profit before tax (3-4)

Tax Expense

(a) Current Tax (b) Deferred Tax (net)

Total tax expense

Profit for the period (5-6)

8 Other Comprehensive Income (net of taxes)

(a) (b)

Items that will be reclassified to profit or loss Items that will not be reclassified to profit or loss

Total other comprehensive income

Total comprehensive income for the period (7+8)

Profit for the period attributable to: (a) Owner of the Company (b) Non-controlling Interest

11 Other Comprehensive Income for the period attributable to:

(a) Owner of the Company (b) Non-controlling Interest

Total Comprehensive Income for the period attributable to: (a) Owner of the Company (b) Non-controlling Interest

13 Paid-up Equity Share Capital (Face Value of Re.1/- each) (Refer Note 2)

14 Other equity

Earnings Per Share (Face Value Re.1/- each): # (Refer Note 2)

(a) Basic (Rs.)

(b) Diluted (Rs.)

18,546 1,515 20,061

4,692 2,167 136 598 2,508 1,770 1,148 13,019

7,042

1,649 165 1,814

5,228

126 (392) (266)

4,962

5,252 (24)

(297) 31

4,955 7

1,928

2.71

18,916 1,138 20,054

5,349 2,223 131 456 1,832 1,509 2,350 13,850

6,204

1,711 (118) 1,593

4,611

112 943 1,055

5,666

4,607 4

1,026 29

5,633 33

1,928

2.39

15,034 812 15,846

3,277 1,815 94 354 1,297 1,586 1,622 10,045

5,801

1,437 10 1,447

4,354

53 (1,485) (1,432)

2,922

4,340 14

(1,443) 11

2,897 25

1,928

54,392 3,638 58,030

15,027 6,258 407 1,464 6,056 4,532 5,463 39,207

18,823

4,800 41 4,841

13,982

220 (441) (221)

13,761

14,000 (18)

(277) 56

13,723 38

1,928

40,039 1,607 41,646

8,184 5,565 303 860 3,507 4,792 4,422 27,633

14,013

3,582 (36) 3,546

10,467

64 5,874 5,938

16,405

10,439 28

5,923 15

16,362 43

1,928

2.36

2.35

7.26

5.89

5.88

58,063 3,491 61,554

14,311 7,345 452 1,310 5,205 6,314 6,176 41,113

20,441

5,027 149 5,176

15,265

26 3,817 3,843

19,108

15,260 5

3,838 5

19,098 10

1,928

1,35,842

8.43

8.42

*Includes media content cost, contract manufacturing charges and cost of production of films, television serials and events. #Figures for three months and nine months are not annualised.

Saregama India Limited Registered Office: 33, Jessore Road, Dum Dum, Kolkata - 700 028 web: www.saregama.com, Email id: co.sec@saregama.com, Phone no: 033-2551-2984 CIN:L22213WB1946PLC014346

Consolidated Segment wise Revenue, Results, Assets and Liabilities for the Three Months and Nine Months Ended 31 December 2022

(Rs. in Lakhs)

Sl. No.

Segment Revenue

Particulars

(a) Music (b) Films, Television serials and Events (c) Publication

Total Segment Revenue Less: Inter Segment Revenue Total Revenue from Operations

Segment Results

(a) Music (b) Films, Television serials and Events (c) Publication

Total Less:

(a) Finance costs (b) Other unallocable expenditure net of unallocable income

Total Profit Before Tax

Segment Assets (a) Music (b) Films, Television serials and Events (c) Publication (d) Unallocated Total Segment Assets

Segment Liabilities

(a) Music (b) Films, Television serials and Events (c) Publication (d) Unallocated

Total Segment Liabilities

3 Months ended 31 December 2022 (Unaudited)

3 Months ended 30 September 2022 (Unaudited)

3 Months ended 31 December 2021 (Unaudited)

9 Months ended 31 December 2022 (Unaudited)

9 Months ended 31 December 2021 (Unaudited)

Year ended 31 March 2022 (Audited)

15,475 2,719 352 18,546 - 18,546

7,046 225 (56) 7,215

136 37 7,042

60,906 17,503 530 1,13,399 1,92,338

29,374 4,408 431 7,366 41,579

15,090 3,408 418 18,916 - 18,916

6,697 27 (40) 6,684

131 349 6,204

58,186 13,874 579 1,14,066 1,86,705

30,695 2,515 424 6,890 40,524

13,333 1,558 143 15,034 - 15,034

6,367 323 (244) 6,446

94 551 5,801

47,409 8,761 603 1,14,906 1,71,679

20,408 2,361 387 7,615 30,771

43,307 9,989 1,096 54,392 - 54,392

19,791 345 (133) 20,003

407 773 18,823

60,906 17,503 530 1,13,399 1,92,338

29,374 4,408 431 7,366 41,579

34,671 4,986 382 40,039 - 40,039

16,685 750 (859) 16,576

303 2,260 14,013

47,409 8,761 603 1,14,906 1,71,679

20,408 2,361 387 7,615 30,771

47,381 10,239 443 58,063 - 58,063

22,519 1,491 (1,177) 22,833

452 1,940 20,441

50,398 11,077 528 1,06,784 1,68,787

20,404 2,757 296 7,237 30,694

NOTES:

The aforementioned results for the three months and nine months ended 31 December 2022 have been reviewed and recommended by the Audit Committee in their meeting held on 20 January 2023 and approved by the Board of Directors of the Parent Company at their meeting held on even date. These results have been subjected to limited review by the Statutory Auditors of the Parent Company who have issued an unmodified review report on the consolidated financial results for the three months and nine months ended 31 December 2022.

Pursuant to the Special Resolution passed by the Shareholders of the Parent Company by way of Postal Ballot through electronic means on 31 March 2022, the Parent Company has sub-divided its equity share of face value of Rs.10/- (Rs. Ten only) each fully paid up, into 10 (Ten) equity shares of face value Re.1/- (Rupee One only) each fully paid-up, effective from 28 April 2022. Hence, shares have now been adjusted on account of sub-division of share done by the Parent Company. This has been considered for calculating weighted average number of equity shares for all periods presented, as per Ind AS 33- Earnings Per Share.

The Consolidated financial results are prepared in accordance with the principles and procedures as set out in Ind AS 110, notified by Ministry of Corporate Affairs. The consolidated financial results of the Company include its seven subsidiaries (including one step-down subsidiary), i.e. Saregama Limited (formerly known as Saregama Plc.), RPG Global Music Limited, Saregama FZE, Kolkata Metro Networks Limited, Open Media Network Private Limited, Digidrive Distributors Limited and Saregama Inc. (Step-down subsidiary of Saregama India Limited) (hereinafter referred as "Group") combined on a line-by-line basis by adding together the book values of like items of assets, liabilities, income and expenses eliminating intra-company balances and transactions and resulting unrealised gains/losses. The Consolidated financial results are prepared applying uniform accounting policies. The Group has one joint venture i.e. Saregama Regency Optimedia Private Limited, which is under liquidation with effect from 19 September 2016. Accordingly, this entity has not been consolidated by the Group.

Based on the guiding principles given in Ind AS 108 on "Operating Segments", the Group's business activity falls within three operating segments, namely: (a) Music (b) Films, Television serials and Events (c) Publication

Segment Revenue, Results, Assets and Liabilities represent amounts identifiable to each of the segments. Other "unallocable expenditure net of unallocable income" mainly includes interest income, expenses on common services not directly identifiable to individual segments and corporate expenses. Segment Assets and Segment Liabilities are as at 31 December 2022, 30 September 2022, 31 December 2021 and 31 March 2022. Unallocable corporate assets less unallocable corporate liabilities mainly represent investment of surplus funds and cash and bank balances.

The Board of Directors of the Parent Company in their meeting held on 20 January 2023 has declared an interim dividend for the financial year 2022-23 of Rs. 3/- per share (300% on the face value of Re.1/- each).

In view of pandemic relating to COVID – 19, the Group has considered internal and external information available up to the date of approval of these consolidated financial results and has performed analysis in assessing the recoverability of its assets including trade receivables, inventories, investments, other financial and non-financial assets, for possible impact on these consolidated financial results. The Group has also assessed the impact of this whole situation on its capital and financial resources, profitability, liquidity position, etc. On the basis of its present assessment and current indicators of future economic conditions, the Group does not anticipate any material impact on these consolidated financial results. However, the actual impact of COVID – 19 on the Group’s financial results may differ from that estimated and the Group will continue to closely monitor any material changes to future economic conditions.

For more details on Results, visit Investor Relations section of our website at http://www.saregama.com and Financial Results under Corporates section of www.nseindia.com and www.bseindia.com.

For and on behalf of the Board of Directors of Saregama India Limited

Kolkata 20 January 2023

VIKRAM MEHRA

Digitally signed by VIKRAM MEHRA Date: 2023.01.20 15:48:22 +05'30'

Vikram Mehra Managing Director DIN: 03556680

B S R & Co. LLP

Chartered Accountants

Unit No. 603, 6th Floor, Tower 1, Plot No. 5, Block – DP, Godrej Waterside, Sector V, Salt Lake, Kolkata – 700091

Telephone: +91 33 4035 4200 Fax: +91 33 4035 4295

Limited Review Report on unaudited standalone financial results of Saregama India Limited for the quarter ended 31 December 2022 and year to date results for the period from 01 April 2022 to 31 December 2022 pursuant to Regulation 33 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

To the Board of Directors of Saregama India Limited

1. We have reviewed the accompanying Statement of unaudited standalone financial results of Saregama India Limited (hereinafter referred to as “the Company”) for the quarter ended 31 December 2022 and year to date results for the period from 01 April 2022 to 31 December 2022 (“the Statement”).

2. This Statement, which is the responsibility of the Company’s management and approved by its Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 “Interim Financial Reporting” (“Ind AS 34”), prescribed under Section 133 of the Companies Act, 2013, and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (“Listing Regulations”). Our responsibility is to issue a report on the Statement based on our review.

4. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement.

For B S R & Co. LLP

Chartered Accountants

Firm’s Registration No.:101248W/W-100022

JAYANTA MUKHOPADHYAY

Digitally signed by JAYANTA MUKHOPADHYAY Date: 2023.01.20 15:59:06 +05'30'

Jayanta Mukhopadhyay

Partner

Membership No.: 055757

UDIN:23055757BGYIGM7762

Kolkata

20 January 2023

B S R & Co. (a partnership firm with Registration No. BA61223) converted into B S R & Co. LLP (a Limited Liability Partnership with LLP Registration No. AAB-8181) with effect from October 14, 2013

Registered Office:

14th Floor, Central B Wing and North C Wing, Nesco IT Park 4, Nesco Center, Western Express Highway, Goregaon (East), Mumbai - 400063 Page 1 of 1

Saregama India Limited Registered Office: 33, Jessore Road, Dum Dum, Kolkata - 700 028 web: www.saregama.com, Email id: co.sec@saregama.com, Phone no: 033-2551-2984 CIN:L22213WB1946PLC014346

Statement of Standalone Financial Results for the Three Months and Nine Months Ended 31 December 2022

Particulars

3 Months ended 31 December 2022 (Unaudited)

3 Months ended 30 September 2022 (Unaudited)

3 Months ended 31 December 2021 (Unaudited)

9 Months ended 31 December 2022 (Unaudited)

9 Months ended 31 December 2021 (Unaudited)

Year ended 31 March 2022 (Audited)

(Rs. in Lakhs)

Sl. No.

Income

(a) Revenue from operations

(b) Other income

Total Income

2 Expenses

(a) Operational cost*

(b) Employee benefits expense

(d) Depreciation and amortisation expense

(e) Advertisement and sales promotion

(f) Royalty expense

(g) Other expenses

Total Expenses

18,158

1,542

19,700

4,753

1,878

135

587

2,397

1,758

1,079

16,421

1,152

17,573

3,536

1,889

129

446

1,721

1,509

2,135

12,587

11,365

14,658

816

15,474

3,198

1,529

352

1,483

1,586

1,536

9,778

5,696

49,365

3,672

53,037

11,611

5,356

402

1,432

5,755

4,520

5,052

39,094

1,617

40,711

7,977

4,595

303

854

4,215

4,792

4,092

56,831

3,341

60,172

14,053

6,108

451

1,302

6,197

6,320

5,542

34,128

26,828

39,973

18,909

13,883

20,199

7,113

6,208

5,696

18,909

13,883

20,199

1,650

154

1,804

5,309

(393)

4,916

1,928

1,711

(125)

1,586

4,622

941

5,563

1,928

1,438

1,448

4,248

(1,212)

3,036

1,928

4,802

4,817

3,583

(36)

3,547

4,986

171

5,157

14,092

10,336

15,042

(445)

4,923

3,215

13,647

15,259

18,257

1,928

2.76

2.40

2.31

2.30

7.32

5.84

5.82

1,35,255

8.31

8.30

Profit before exceptional items and tax (1-2)

7,113

6,208

4 Exceptional Items

Profit before tax (3-4)

6 Tax Expense

(a) Current Tax

(b) Deferred Tax (net)

Total tax expense

Profit for the period (5-6)

8 Other Comprehensive Income (net of taxes)

(a) (b)

Items that will be reclassified to profit or loss Items that will not be reclassified to profit or loss

Total other comprehensive income

9 Total comprehensive income for the period (7+8)

10 Paid-up Equity Share Capital (Face Value of Re.1/- each) (Refer Note 2)

11 Other equity

12 Earnings Per Share (Face Value Re.1/- each): # (Refer Note 2)

(a) Basic (Rs.)

(b) Diluted (Rs.)

*Includes media content cost, contract manufacturing charges and cost of production of films, television serials and events. #Figures for three months and nine months are not annualised.

Saregama India Limited Registered Office: 33, Jessore Road, Dum Dum, Kolkata - 700 028 web: www.saregama.com, Email id: co.sec@saregama.com, Phone no: 033-2551-2984 CIN:L22213WB1946PLC014346

Standalone Segment wise Revenue, Results, Assets and Liabilities for the Three Months and Nine Months Ended 31 December 2022

Particulars

3 Months ended 31 December 2022 (Unaudited)

3 Months ended 30 September 2022 (Unaudited)

3 Months ended 31 December 2021 (Unaudited)

9 Months ended 31 December 2022 (Unaudited)

9 Months ended 31 December 2021 (Unaudited)

Year ended 31 March 2022 (Audited)

(Rs. in Lakhs)

Sl. No.

Segment Revenue

(a) Music

(b)

Films, Television serials and Events

Total segment revenue

Less: Inter Segment Revenue

Total Revenue from Operations

Segment Results

(a) Music

(b)

Films, Television serials and Events

Total

Less:

(a)

(b)

Finance costs

Other unallocable expenditure net of unallocable income

Total Profit Before Tax

Segment Assets

(a) Music

(b)

(c)

Films, Television serials and Events

Unallocated

Total Segment Assets

Segment Liabilities

(a) Music

(b)

(c)

Films, Television serials and Events

Unallocated

Total Segment Liabilities

15,303

2,855

18,158

7,087

233

7,320

135

7,113

62,369

16,816

1,10,932

1,90,117

29,169

3,837

7,377

40,383

14,889

1,532

16,421

6,830

(122)

6,708

129

371

6,208

59,671

13,187

1,11,633

1,84,491

30,432

1,944

6,911

39,287

13,100

1,558

14,658

6,013

323

6,336

546

5,696

46,729

8,761

1,13,900

1,69,390

19,846

2,361

7,360

29,567

42,812

6,553

49,365

20,004

118

20,122

402

811

18,909

62,369

16,816

1,10,932

1,90,117

29,169

3,837

7,377

40,383

34,108

4,986

39,094

15,682

750

16,432

303

2,246

13,883

46,729

8,761

1,13,900

1,69,390

19,846

2,361

7,360

29,567

46,592

10,239

56,831

21,082

1,491

22,573

451

1,923

20,199

49,828

11,077

1,06,251

1,67,156

19,978

2,757

7,238

29,973

NOTES:

The aforementioned results for the three months and nine months ended 31 December 2022 have been reviewed and recommended by the Audit Committee in their meeting held on 20 January 2023 and approved by the Board of Directors of the Company at their meeting held on even date. These results have been subjected to limited review by the Statutory Auditors of the Company who have issued an unmodified review report on the standalone financial results for the three months and nine months ended 31 December 2022.

Pursuant to the Special Resolution passed by the Shareholders of the Company by way of Postal Ballot through electronic means on 31 March 2022, the Company has sub-divided its equity share of face value of Rs.10/- (Rs. Ten only) each fully paid up, into 10 (Ten) equity shares of face value Re.1/- (Rupee One only) each fully paid-up, effective from 28 April 2022. Hence, shares have now been adjusted on account of sub-division of share done by the Company. This has also been considered for calculating weighted average number of equity shares for all periods presented, as per Ind AS 33- Earnings Per Share.

Out of the 53,38,628 equity shares of Rs.10/- each issued for cash at a premium of Rs.35/- (issue price - Rs.45/-) pursuant to the Rights Issue in 2005, allotment of 5,290 equity shares of face value Rs.10/- each (relating to cases under litigation / pending clearance from concerned authorities) were in abeyance till 31 December 2022. These shares have now been adjusted on account of sub- division of share done by Company as explained in note 2 above.

In order to lay specific focus on the e-commerce distribution business of the Company alongwith identified non-core assets (including investment(s) in publication business) and other activities and/ or arrangements incidental or relating thereto, the Board of the Directors of the Company at its meeting held on 30 March 2022 approved, subject to necessary approvals, Scheme of Arrangement between the Company and Digidrive Distributors Limited, a wholly owned subsidiary (“Resulting Company”) and their respective shareholders and creditors under Sections 230 to 232 and other applicable provisions of the Companies Act, 2013 (“Act”) (“Scheme”) which inter alia provides for the demerger, transfer and vesting of the Demerged Undertaking (as defined in the Scheme) from the Company into the Resulting Company, on a going concern basis. The appointed date being 1 April 2022. Upon implementation of the Scheme, each shareholder of the Company would be entitled to fully paid shares of the respective companies in the ratio set out in the Scheme. Necessary accounting effect of the Scheme will be given in due course, upon receipt of the requisite approvals.

Based on the guiding principles given in Ind AS 108 on "Operating Segments", the Company's business activity falls within two operating segments, namely: (a) Music (b) Films, Television serials and Events

The Board of Directors in their meeting held on 20 January 2023 has declared an interim dividend for the financial year 2022-23 of Rs. 3/- per share (300% on the face value of Re.1/- each).

In view of pandemic relating to COVID – 19, the Company has considered internal and external information available up to the date of approval of these standalone financial results and has performed analysis in assessing the recoverability of its assets including trade receivables, inventories, investments, other financial and non-financial assets, for possible impact on these standalone financial results. The Company has also assessed the impact of this whole situation on its capital and financial resources, profitability, liquidity position, etc. On the basis of its present assessment and current indicators of future economic conditions, the Company does not anticipate any material impact on these standalone financial results. However, the actual impact of COVID – 19 on the Company’s financial results may differ from that estimated and the Company will continue to closely monitor any material changes to future economic conditions.

For more details on Results, visit Investor Relations section of our website at http://www.saregama.com and Financial Results under Corporates section of www.nseindia.com and www.bseindia.com.

Kolkata 20 January 2023

For and on behalf of the Board of Directors of Saregama India Limited

VIKRAM MEHRA

Digitally signed by VIKRAM MEHRA Date: 2023.01.20 15:49:32 +05'30'

Vikram Mehra Managing Director DIN: 03556680

SAREGAMA INDIA LIMITED | QUARTERLY PRESENTATION | Q3 FY23

SAREGAMA STRENGTHS

India’s only entertainment company with IP offerings across media channels (music, films, web series and TV serials), delivery platforms (physical and digital) and business models (licensing and retail)

Large intellectual property portfolio of 142K+ songs, 68 films, 6K+ hours of television content

Strong licensing relationships with streaming applications and platforms for music and video

Increasing IP library with a growing presence in all leading Indian languages

Investments and Capabilities in Data Analytics and Technology 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

STRATEGIC OVERVIEW

Digitisation Driving Growth

Digital Boom in India

Increase in App Usage

~750M smart phones Cheap Data # stay-at-home

driving

Video/Music Streaming Netflix, Spotify, Saavn, Amazon, etc. Social Media YouTube, Facebook, etc. Video Sharing Instagram, YT Shorts, Tik Tok etc.

driving

Increase in Demand for Content

Music Films Web Series TV Series Podcasts

142k+ Songs | 68 Movies | 6k+ hrs of TV Series | Advantage Saregama

STRATEGIC OVERVIEW

To be a Pure Play Content Company capitalising on the global content consumption boom

driven by the ever-increasing Digitisation

Monetisation of Existing IP

Building of New IP

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.

Cementing leadership position with New film and non-film music acquisition across Hindi, Tamil, Telugu, Bhojpuri, Gujarati, Punjabi, Malayalam, Bengali and other regional languages.

Producing Theatrical Films in only Regional languages and Web Series in all languages. Revenue secured through pre-licensing to digital platforms. Scale allowing lower cost of production.

IP Creation ambition over next 3-5 years

Market Leadership In Music Segment

60 New Films and Web Series Episodes

1200 - 1500 hrs of new TV serials content

SAREGAMA WANTS TO TAKE MARKET LEADERSHIP POSITION IN INDIAN MUSIC

Disproportionate

share of

New Content across Hindi & Regional Languages

Acquisition of Small & Mid size Music Catalogues to plug in the Content Gaps of last 25 years

Artiste Management

Live Events

Catalogue Strength

SAREGAMA MUSIC IP

Licensing Revenue (INR Mn)

Fast Growing

Licensing Revenue

FY22

FY21

FY20

FY19

FY18

3,585

2,839

2,361

1,949

1,478

* One time income of INR 97 Mn (FY22), 155 Mn (FY21) and INR 21 Mn (FY20) are excluded

On account of

A. Saregama’s Focus on New Music

B. Growing customer interest in Retro Music

C. Presence across all Indian Languages

Share of Saregama’s Songs by Decades

Catalogue Usage across OTT/YouTube/ TV Channels/Radio etc (Bn)

2001-2021

1981-2000

1961-1980

29%

27%

40%

26%

31%

Till 1960

15%

Count of Songs

Revenue

FY22

FY21

FY20

FY19

FY18

141

111

Share of Saregama’s Songs by language

Others 13%

Bhojpuri 1%

Kannada, 2%

Gujrati 2%

Malayalam 5%

Marathi 5%

Punjabi 6%

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 142k songs, each digitised with rich metadata behind it, giving it a big competitive advantage

OUR LICENSING PARTNERS

Streaming Partners Music

Broadcasting Partners Music + Films & Series

Video Streaming Partners Music + Films & Series

uVid

Social Media Platforms Music + Films & Series

Brands Music

OPERATIONAL HIGHLIGHTS

MUSIC SEGMENT POSTED HIGHEST EVER QUARTERLY REVENUE

MUSIC SEGMENT REVENUE PER QUARTER (INR Mn)

9Months FY23 – INR 4330 Mn

9Months FY22 – INR 3468 Mn

1509

1547

1333

1271

1274

1216

1142

1004

1013

917

919

696

Q4 FY20

Q1 FY21

Q2 FY21

Q3 FY21

Q4 FY21

Q1 FY22

Q2 FY22

Q3 FY22

Q4 FY22

Q1 FY23

Q2 FY23

Q3 FY23

Revenue grew 25% Y-o-Y to reach INR 4,330 Mn in 9Months FY23

MUSIC SEGMENT LICENSING : MONETISATION

• Brand Licenses:

Ola Electric, Hyundai, WhatsApp, Uber, Tata Play etc. Color Bar, Global Desi, Spencer, Xiaomi, P.C.Chandra product integrations in New Songs

• Digital Content Licenses:

Monica, O My Darling (Netflix), Biryani BY Kilo (Hotstar), Journey of India (Discovery), etc.

• Film Sync Licenses:

Licensed 10 songs for the Rohit Shetty film “Cirkus”; 1 song deal with Maddock Film “Bhediya”; 1 song deal with Reliance Entertainment Film “Thai Massage”; 1 song deal with Tamil Film “ Vikram” etc.

• Signed Licencing deal with “Dangal TV” & its channels

YOUTUBE VIEWS (Bn) PER QUARTER

Q2FY22

Q3FY22

Q4FY22

Q1FY23

Q2FY23

Q3FY23

Includes all views related Saregama IP across it’s owned channels and user generated content on YouTube and YouTube Shorts

MUSIC SEGMENT : CONTENT CREATION Film Albums released in Q3

TELUGU

TAMIL

MALAYALAM

BENGALI

Vishwak Sen

Madhoo

Aishwarya Lekshmi & Vishnu Vishal

Aishwarya Lekshmi

Swasika

Adivi Sesh & Meenakshi Chaudhary

Alipiriki Allantha Dooramlo

Dhanush

Amala Paul

Unni Mukundan

Mithun Chakraborty

PUNJABI

Ammy Virk

Santosh Shoban

Vishnu Manchu

Jiiva

Shaan Rahman

Suraj Venjaramoodu

Diljit Dosanjh

MUSIC SEGMENT : CONTENT CREATION 158 Non-Film Songs released in Q3

HINDI

BHOJPURI

GUJARATI

PUNJABI

BENGALI

DEVOTIONAL

Shreya Ghoshal

Khesari Lal

Kajal Maheriya

Satinder Sartaaj

Ankita Bhattacharya

Gajendra Pratap Singh

Divya Agarwal

Neelkamal Singh

Rakesh Barot

Asees Kaur

Bappa Mazumder

Abhilipsa panda

Stebin Ben

Khesari Lal

Rakesh Barot

Satinder Sartaaj

KDiva

Charanjeet Singh Sondhi

MUSIC SEGMENT : RETAIL

Retail:

• Momentum building back. Unit Sales grows by 20% Y-o-Y

• Carvaan Mobile volumes building up

•

Festival sales spread between Q2 and Q3

• Margin % similar on all Carvaan variants : base model,

Mini, Mobile, Music Bar

Carvaan Sales (units ‘000s)

168

156

141

103

112

Q2-FY22

Q3-FY22

Q4-FY22

Q1-FY23

Q2-FY23

Q3-FY23

Future Outlook

▪ Reliance on Natural Pull from the market

▪ Tight cost controls to continue

FILMS, WEB SERIES & TV SEGMENT

Films and Web Series

• Two Malayalam Films

“Kaapa” and starring Nivin Pauly

starring Prithviraj Sukumaran “Padavettu” released during Q3FY23.

• First Punjabi

starring Ammy Virk Q3FY23

film “Oye Makhana” released in

TV Segment

• Company started its new TV serial "Iniya" on Sun TV from 05th Dec’22 . This replaces “ROJA” which had a run over 1300 Episodes.

• “Ilakkiya” rated the No. 1 TV serial in afternoon

slot across all Tamil Channels.

• All serials Anbe Vaa, Ilakkiya and Iniya were the

Slot Leaders in their respective time slots.

• Saregama TV Shows YouTube channel garnered 429 Mn views (grew 26% Q-o-Q) in Q3FY23

Future Outlook

• Next action pack Malayalam film “Kasargold” starring Asif Ali expected to release in Q4FY23.

Future Outlook

• Unlocking the value of existing IP through language remakes, and new platform licensing syndication

NEW INITIATIVES

Live Music Events

➢ “Saregama's Live” with India’s biggest live Performance star Diljit Dosanjh, continued its overseas success in India as well.

• 2 concerts were held in Mumbai and Jaipur in Q3FY23

➢ Saregama Live’s stage adaptation of Bollywood’s iconic film – Disco Dancer premiered in London. 6 Live Shows were held during Q3FY23

FINANCIAL HIGHLIGHTS

CONSOLIDATED

QUARTERLY FINANCIAL SUMMARY

Particulars (INR Mn)

Revenue from Operations

•

Music

Films, Television serials and Events

Publication

Revenue from Operations

Operating Income before Content Charge, Interest and Depreciation (OIBCID)

Q3 FY23

Q2 FY23

Q-o-Q Growth

Q3 FY22

Y-o-Y Growth

1,547 272 35

1,854

735

1,509 341 42

1,892

699

3% (20)% (17)%

(2)%

1,333 156 14

1,503

629

16% 74% 150%

23%

17%

Content Charge include the following charges related to the new content during the year: 1) 4) Content charge does not include any royalty paid post recoupment of the Minimum Guarantee amount.

Amount amortised in case of Royalty based deals 2) Amount amortised against the one-time fee paid in case of Outright purchase-based deals 3) Marketing of new content

Revenue from Operations (INR Mn)

223

14 156

525

386

341

272

1,216

1,333

1,271

1,274

1,509

1,547

700

200

OIBCID (INR Mn) & OIBCID Margin

42%

36%

38%

37%

40%

37%

535

629

644

647

699

735

Q2-FY22

Q3-FY22

Q4-FY22

Q1-FY23

Q2-FY23

Q3-FY23

Q2-FY22

Q3-FY22

Q4-FY22

Q1-FY23

Q2-FY23

Q3-FY23

Music

Films, TV & Events

Publication

OIBCID

OIBCID Margin

43%

38%

33%

28%

23%

18%

13%

OIBCID to PAT

Particulars (INR Mn)

Q3 FY23

Q2 FY23

Q-o-Q Growth

Q3 FY22

Y-o-Y Growth

9 Months Ended FY 23

9ME FY23 without impact of Change in Useful Life

9 Months Ended FY22

Y-o-Y Growth

Revenue from Operations (A)

1,854

Total Expenses (B)

1,119

OIBCID (C= A-B)

OIBCID Margin (%)

Content Charging Cost (D)

Depreciation (E)

Finance Cost (F)

Other Income (G)

PBT (C-D-E-F+G)

Tax

PAT

PAT Margin (%)

Diluted EPS (Face Value Re.1)

735

40%

159

152

704

181

523

28%

2.71

1,892

1,193

699

37%

171

113

621

160

461

24%

2.39

(2)%

(6)%

(7)%

43%

35%

13%

23%

28%

17%

38%

67%

56%

88%

21%

26%

20%

1,503

874

629

42%

115

580

144

436

29%

2.35

5,439

3,358

2,081

38%

577

364

1,803

464

1,339

25%

5,439

3,358

2,081

38%

498

364

1,882

484

1,398

26%

7.26

4,004

2,419

1,585

40%

297

161

1,401

354

1,047

26%

5.88

36%

39%

31%

68%

33%

37%

126%

34%

36%

34%

• • • •

The management has reviewed the useful life of Music rights with help of benchmarking study done by EY on accounting practices of leading global music labels Given the increased consumption of content along with outlook for the music market, resultant useful life of the newly acquired music rights is longer than the previously estimated life. Starting 1st April 2022, the content cost of music rights is being amortized basis the increased useful life of 10 years As a result of the above revision, the content cost for 9ME FY23 is lower by INR 79Mn as compared to the charge based on previous estimates, leading to incremental PAT of INR59Mn.

BALANCE SHEET

Equity and Liabilities (INR Mn)

As at 31st Dec’ 2022

As at 31st Mar’ 2022

Shareholder's fund

(a) Equity share capital (b) Other equity

Net worth

(a) Non-controlling interest

Non-current liabilities

(a) Financial liabilities (i) Lease liabilities

(b) Employee benefit obligations (c) Deferred tax liabilities (net)

Current liabilities

(a) Financial liabilities

(i) Lease liabilities

(ii) Trade payables

(iii) Other financial liabilities

(b) Other current liabilities (c) Provisions (d) Employee benefit obligations

(e) Current tax liabilities

193

14,847 15,040

4 44 560

648

581

1,442 862 8 -

193

13,584 13,777

7 42 562

645

431

466 902 8 1

Total

19,235

16,879

Assets (INR Mn)

Non-current assets

As at 31st Dec’ 2022

As at 31st Mar’ 2022

(a) Property, plant and equipment

2,163

2,141

(b) Right-of-use assets

(d) Intangible assets

(e) Intangible assets under development

(f) Financial assets

(i) Investments

(ii) Other financial assets

(g) Other non-current assets

Current assets

(a) Inventories

(b) Financial assets (i) Investments (ii) Trade receivables (iii) Cash and cash equivalents

(iv) Bank balances other than (iii) above

(v) Loans

(vi) Other financial assets

1,023

1,404

527

606

602

1,453

292

1,714

1,054

2,874 1,306 1,792

3,955

263

201

164

1,182 19,235

5,308 1,078 1,527

1,710

228

257

1,078 16,879

CASH FLOW STATEMENT

Particulars (INR Mn)

Pre-Tax Profit

Change in other operating activities ( including non-cash Items)

Change in Working capital

Taxes Paid

Net cash generated from Operating Activities (A)

Investment in Fixed Deposits with maturity > 3m

Redemption/(Investment) in Mutual Fund

Net cash used in Fixed assets and other Investing activities

Net cash used in Investing Activities (B)

Net cash (used in)/generated from Treasury Shares

Proceeds from Issue of Share Capital #

Repayment of Lease Liability

Dividend paid

Interest paid

Net cash (used in)/generated from Financing Activities (C)

Net (decrease)/increase in Cash and Cash Equivalent

Cash and Cash Equivalents at the beginning of the period

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 168 Mn

9 Months Ended FY23

FY 22

1,882

(116)

(13)

(387)

(2,753)

2,593

(836)

(116)

(8)

(2)

1,366

2,044

(139)

(389)

(572)

(718)

(4,995)

(590)

944

(996)

(6,303)

7,332

(4)

(577)

(11)

(126)

244

1,527

1,792

6,773

1,414

111

1,527

FINANCIAL CHARTS (CONSOLIDATED)

Revenue from Operations (Turnover) (INR Mn)

Music Licensing Revenue (INR Mn)

PAT (INR Mn)

Diluted EPS (INR)

7 4 4 5

5 1 2 5

6 0 8 5

0 2 4 4

6 6 5 3

5 8 5 3

9 3 8 2

1 6 3 2

9 4 9 1

8 7 4 1

6 2 5 1

5 3 1 1

4 8

5 6

3 4 5

5 3 4

3 8 2

6 1

1 3

5 2

FY18 FY19 FY20 FY21 FY22

FY18 FY19 FY20 FY21 FY22 * One time income of IINR 97 Mn (FY22), INR 155 Mn (FY21) and INR 21 Mn (FY20) are excluded

FY18 FY19 FY20 FY21 FY22

Debt to Equity Ratio

Return on Equity (ROE) (%)*

Book Value Per Share (INR)

Dividend per Share (INR)

8 2 0

9 0 0

3 0 0

FY18 FY19 FY20 FY21 FY22

* Debt is Nil as on 31st Mar’22 and 31st March’21.

% 9 3 2

% 3 3 3

% 8 5 1

7 1 6

0 0 2

0 0 3

% 4 6 1

% 8 2 1

1 3 1

2 5 1

3 0 1

6 9 1

0 3

5 1

FY18 FY19 FY20 FY21 FY22

FY18 FY19 FY20 FY21 FY21

* ROE = PAT / Shareholders Equity * Shareholders Equity = Equity share capital and free reserves The decrease in ROE for FY22 is on account of fresh fund raise through QIP of Rs.7500 MN

DISCLAIMER

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.

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