RADIOCITYNSEQ4 & FY25May 23, 2025

Music Broadcast Limited

4,277words
77turns
8analyst exchanges
3executives
Management on call
Ashit Kukian
CHIEF EXECUTIVE OFFICER
Prashant Domadia
CHIEF FINANCIAL OFFICER
Rajiv Shah
INVESTOR RELATIONS
Key numbers — 40 extracted
Rs. 234 crore
Relations Partner, Strategic Growth Advisors. In FY '25, the Company achieved a total revenue of Rs. 234 crores, making a year-on-year growth of 3% with an operating EBITDA at Rs. 40 crores at 16.8% margin. I
3%
n FY '25, the Company achieved a total revenue of Rs. 234 crores, making a year-on-year growth of 3% with an operating EBITDA at Rs. 40 crores at 16.8% margin. In terms of volumes, the industry de-g
Rs. 40 crore
a total revenue of Rs. 234 crores, making a year-on-year growth of 3% with an operating EBITDA at Rs. 40 crores at 16.8% margin. In terms of volumes, the industry de-grew by 2%, we have been able to make nota
16.8%
f Rs. 234 crores, making a year-on-year growth of 3% with an operating EBITDA at Rs. 40 crores at 16.8% margin. In terms of volumes, the industry de-grew by 2%, we have been able to make notable stride
2%
n operating EBITDA at Rs. 40 crores at 16.8% margin. In terms of volumes, the industry de-grew by 2%, we have been able to make notable strides in our performance on the back of our efforts on the d
36%
f our efforts on the digital side. Through the year, our digital business delivered an impressive 36% year-on-year growth, fully embracing the digital era where every tap and swipe unlocks new opport
11%
the digital era where every tap and swipe unlocks new opportunities. Digital business contributes 11% to the revenues versus 9% in the year FY '24. These results highlight the success of our strategy
9%
tap and swipe unlocks new opportunities. Digital business contributes 11% to the revenues versus 9% in the year FY '24. These results highlight the success of our strategy which focuses on creating
77%
s in the rapidly evolving media environment. In FY '25, we achieved an inventory utilization of 77%, reflecting our strong operational efficiency and strategic resource management. Radio City conti
rs,
urce management. Radio City continues to lead the industry as the preferred platform for advertisers, attracting 40% of the total client base across the sector. Notably, 32% of all new clien
40%
. Radio City continues to lead the industry as the preferred platform for advertisers, attracting 40% of the total client base across the sector. Notably, 32% of all new clients entering th
32%
rm for advertisers, attracting 40% of the total client base across the sector. Notably, 32% of all new clients entering the radio advertising space have chosen Radio City, reaffirming our p
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Guidance — 13 items
Ashit Kukian
opening
“Through a strategic blend of cutting edge digital tools, dynamic social media engagement, and sophisticated content distribution methods, we aim to foster extraordinary connections between brands and their audiences, driving unparalleled consumer interaction and loyalty.”
Ashit Kukian
qa
“And as we speak, we are creating almost close to about 350 hours to 400 hours of original podcast content, which will be distributed to RC Swapper.”
Ashit Kukian
qa
“Historically if you see the mix, every year 40% of your clients are retained who come with the value close to about 60%, 65% of the value for the next year.”
Ashit Kukian
qa
“It's almost similar to that, because I will give you the entire full year amount, it will be 78%.”
Mani
qa
“If you can clarify that it will be helpful.”
Prashant Domadia
qa
“There will be a redemption which is going to happen.”
Mani
qa
“So there will be no dividend applicable, that 0.01% will also not be applicable for next year because the date appears before?”
Payal Shah
qa
“First, we have witnessed a steep decline in our margins for full year '25, so just wanted to know what number should we expect going forward?”
Payal Shah
qa
“And what are the steps that we will be taking to improve our margins in FY '26?”
Ashit Kukian
qa
“So as we go forward, you will see that we are having a tighter control on the cost, which is in our hands, and we will ensure that our margins will be much more than what we have demonstrated in the past year.”
Risks & concerns — 2 flagged
Now it indirectly also means that a lot of clients who are actually in the industry are not coming back to radio, is this something of a concern?
— Ranodeep S.
First, we have witnessed a steep decline in our margins for full year '25, so just wanted to know what number should we expect going forward?
— Payal Shah
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Q&A — 8 exchanges
Q
Yes. Thank you for the opportunity. It's interesting to see that the industry has de-grown actually 2%, and in that backdrop we have done better, though it's very marginal, just 3%. Is the management looking at the changing landscape? Case in point is, are we studying the business models of Pocket FM or Kuku FM? Example, because the reason I am picking on these companies because Pocket FM in FY '24 has kind of clogged a revenue of Rs. 1,050 crores and they have this affordable subscription plan which is penetrating into Tier 2 and Tier 3 cities. So is business thinking about these new ways of
Ashit Kukian
The Pocket FM has not, cloud revenue is of Rs. 1,050 crores. I think the valuation of the Company would be of Rs. 1,050 crores, because the revenues are far lesser, if I am not mistaken. Having said that, to respond to your question, you would be happy to know that your Company has launched a podcast platform called RC Swapper just about three weeks back. So we are looking at changing their consumption. And as we speak, we are creating almost close to about 350 hours to 400 hours of original podcast content, which will be distributed to RC Swapper. And RC Swapper not only allows the content to
Q
Hi. Hello everyone.
Ashit Kukian
Yes. Good afternoon. Hi, good afternoon. My first question to you is, as you mentioned that 77% is your inventory utilization, so this number is a quarterly number or an annual number? It's an annual number that we are talking about. So what would be the quarter number? I mean, 77% is the quarter number, the Q4 number that we are talking about. Sorry my apologies. Okay. Full year number would be? It's almost similar to that, because I will give you the entire full year amount, it will be 78%. Okay. My next question is, what is the volume growth of the Company for both, the quarter and for the
Q
Yes, hi. I had a couple of questions regarding the non-convertible redeemable shares that the Company has issued. So how does the schedule of events flow from now? I believe the redemption date is 2026 Jan, so does it mean on date specified the shares will get extinguished and the money will get credited into the accounts of the shareholders and it will get removed from the balance sheet of the Company, is that how it will flow? Or is there any approval spending and what are the specific events that are there? If you can clarify that it will be helpful.
Prashant Domadia
No, no, no approvals. It will be that way only. There will be a redemption which is going to happen. And this borrowing will go out from the balance sheet. Okay. So on the day of 20th, so the number of shares will get reduced for the Company and then the amount will get credited into the account of shareholders, is that correct? Yes. Okay, okay. Fair enough. I mean, I just wanted to confirm that in terms of issuance. We are talking about the preference shares, right? Yes, correct. Yes. Okay. So there will be no dividend applicable, that 0.01% will also not be applicable for next year because t
Q
Sir, I have two questions. My first question would be on our employee costs and other expenses. So they have arisen quite sharply like 14% and 16%, respectively. So can you give some understanding why this has happened?
Ashit Kukian
The increase in cost is at two levels. One, the standard nominal 8% regular increment that most media companies take is what has been taken. Also, like if you remember, we are expanding our digital presence. So there has been some investment in people that we are doing keeping the future in mind. And these two put together is resulting in the growth that we are talking about. Understood. Sir my second question would be on the growth rate. So our growth has been quite moderate. So what is driving this, like what are the reason behind this, like what is impacting our business? See, there are two
Q
Hi sir, thanks for the opportunity. I have a question on our digital side. Can you give me some information, how much we have invested this year and what would be the number for FY '26?
Ashit Kukian
See, that is only on the platform of SMINCO we had invested roughly around Rs. 1 crore, that is only investment that we have done from the platform perspective. The rest of the investment which is reflected in the staff cost is on people, because as you know that we have launched multiple platforms to create content, to distribute those content. Like for example, we have got RC Studio which is a 24/7 streaming platform on JioTV. We have got Muzartdisco which is an artist and music discovery platform in which an indie artist can distribute songs in 150 plus countries plus. We have launched AI R
Q
Good afternoon, everyone. Thank you so much for the opportunity. I have two questions. First, we have witnessed a steep decline in our margins for full year '25, so just wanted to know what number should we expect going forward? And what are the steps that we will be taking to improve our margins in FY '26?
Ashit Kukian
I mean, we are looking at trying to be a healthy close to double digit growth when we look at the industry, and our own future prospects that we talk about. Of course realizing that the industry still is seeing some kind of challenges. Because while we are yet waiting for the SOPs that we will get from the government in terms of our licensing and so on and so forth, we are very prudently looking at our own cost. So as we go forward, you will see that we are having a tighter control on the cost, which is in our hands, and we will ensure that our margins will be much more than what we have demon
Q
Yes, hello sir.
Ashit Kukian
Hi, good afternoon. Good afternoon, sir. Sir I have couple of questions. First is, what kind of numbers are we seeing on the influencer marketing on our digital side of the business? And the second is, if you can give some guidance for FY '26? Yes, I mean, influencer marketing, if you remember, we just started about six months back and right now we are consolidating. As we speak, we have got about 60,000 influencers on the platform. And this is a business which will gain traction. And right now, like I said, six months of the play and three months of getting into the act, hardly any revenue is
Q
We sincerely thank you for your active participation in today's earnings calls. As media consumption patterns in India evolve, fueled by a variety of content choices, the radio industry stands at the unique crossroad to blend the digital platform while preserving radio at its foundation. Our commitment remains steadfast in enhancing the digital landscape by harnessing our resources and partnership to deliver the greatest value to our customers. The presentations, earnings release and results are all available in the corporate website and stock exchanges. If you have any further inquiries, plea
Management
Speaking time
Ashit Kukian
28
Moderator
10
Khushi
10
Mani
6
Prashant Domadia
5
Ranodeep S.
4
Sakshi Pratap
4
Pooja Mehta
4
Ravi Shah
3
Payal Shah
3
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Opening remarks
Ashit Kukian
Thank you. Good afternoon, everyone, and a very warm welcome to the Q4 and FY '25 Earnings Conference Call of Music Broadcast Limited. Joining me on the call is Mr. Prashant Domadia – our CFO, Mr. Rajiv Shah from our IR Team, and our Investor Relations Partner, Strategic Growth Advisors. In FY '25, the Company achieved a total revenue of Rs. 234 crores, making a year-on-year growth of 3% with an operating EBITDA at Rs. 40 crores at 16.8% margin. In terms of volumes, the industry de-grew by 2%, we have been able to make notable strides in our performance on the back of our efforts on the digital side. Through the year, our digital business delivered an impressive 36% year-on-year growth, fully embracing the digital era where every tap and swipe unlocks new opportunities. Digital business contributes 11% to the revenues versus 9% in the year FY '24. These results highlight the success of our strategy which focuses on creating premium content, optimizing distribution channels and cultivat
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