SAREGAMANSE5 November 2025

Saregama India Limited has informed the Exchange about Investor Presentation

Saregama India Limited

Date: 5th November, 2025

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

Symbol: SAREGAMA

Scrip Code: 532163

Subject: Update under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”)

Reference: Unaudited Financial Results (Standalone and Consolidated) of the Company, for the quarter and half year ended on 30th September, 2025.

Dear Sir/ Madam,

Pursuant to Regulation 30 of SEBI Listing Regulations, as amended from time to time and in continuation to our earlier communication sent today, please find enclosed the following for the Unaudited Financial Results (Standalone and Consolidated) for the quarter and half year ended on 30th September, 2025:

1. Press Release on Earnings; and 2. Investor Presentation.

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

You are requested to kindly take the abovementioned on record.

Yours Faithfully, For SAREGAMA INDIA LIMITED

Nayan Kumar Misra Company Secretary and Compliance Officer

Encl: As above

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

Revenue from Operations stood at Rs. 2,300 Mn in Q2 FY26, recording a growth of 11% QoQ basis while PBT recorded a QoQ growth of 18% rising to Rs. 601 Mn

Building IP for Tomorrow

Mumbai, 5th Nov 2025: Saregama, a RPSG Group company, announced its Financial Results for the quarter and half year ended 30th September 2025.

The company recorded yet another quarter of robust ﬁnancial performance with Revenue from Operations at Rs. 2,300 Mn and Adjusted EBITDA at Rs. 847 Mn. The company’s PBT for Q2 FY26 was Rs. 601 Mn, while PAT for Q2 FY26 stood at Rs. 438 Mn

The Board has declared an interim dividend of Rs.4.50 per share (450 % on the face value of Re.1 each).

Key Operational Highlights:

 Music releases this quarter includes release of successful Tamil album “Idli Kadai” starring superstar Dhanush, Bengali album “Dhumketu”, Malayalam ﬁlm album Sahasam. Non-Film albums releases include Badshah’s chartbuster song “Kokaina” and Honey Singh’s “Mashooqa”.

 The Company released 1,500+ ﬁlms & non-ﬁlms tracks spanning across Hindi, Bhojpuri, Gujarati, Punjabi, Tamil, Telugu, Malayalam, Marathi and Bengali languages, etc.

 The live events vertical continues to pick up pace. Highlights this quarter included the ongoing shows of Diljit Dosanjh’s “Aura Tour” and 2nd round of musical show Disco Dancer in Dubai. These underscore our expanding footprint into premium live-music and experiential IP.

 During the quarter, Saregama collaborated with marquee brands such as Hero, Flipkart, Myntra, Titan, L’Oréal, NPCI, and Britannia for high-impact, integrated campaigns, leveraging its IPs to drive strong brand engagement. The other highlight of the quarter was the use of our songs for “Two much with Kajol and Twinkle” running on Amazon, “Dining with the Kapoors” running on Netflix.

 The Company has added 18 artistes including Amit Bhadana, Pranita Shubhash, etc. and now manages 230+ artistes whose combined follower base exceeds 200 million.

 Digital footprint across Saregama owned and controlled channels touched 400 Mn

followers and subscribers across YouTube, Instagram and Facebook.

Avarna Jain, Vice Chairperson, Saregama India, said, “H1 FY26 remained steady, reﬂecting overall industry conditions, and the outlook for the second half remains strong with several key projects and partnerships lined up. The company is in a strong position with its aggressive investment strategy coupled with diversifying business segments”

About Saregama India:

Saregama India Ltd., part of the RPSG Group, is India’s leading Entertainment IP company with a legacy dating back to 1902. Its diverse portfolio includes ﬁlm and non-ﬁlm music, digital media, television content, artiste and inﬂuencer management, and ﬁlm production.

About RPSG Group:

RP-Sanjiv Goenka Group is one of India’s fastest growing conglomerates with a signiﬁcant global presence. The Group’s businesses include power and energy, carbon black manufacturing, retail, IT enables services, FMCG, media and entertainment and agriculture.

For further information, please contact:

Shweta Singh| shweta.singh@mslgroup.com | +91 9167485016

Swapnali Morajkar | swapnali.morajkar@mslgroup.com | +91 9892592319

QUARTERLY PRESENTATION | Q2 FY26

SAREGAMA INDIA LIMITED | QUARTERLY PRESENTATION | Q2 FY26

SAREGAMA STRENGTHS

QUARTERLY PRESENTATION | Q2 FY26

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

Large intellectual property portfolio of 175K+ songs, 70+ films, 55+ digital series and 10K+ hours of television content

Digital footprint : 400 Mn+ subscribers and followers across YouTube, Instagram and Facebook

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

Investments and Capabilities in Data Analytics and Artificial Intelligence for content acquisition and IP protection

Strong financial position with track record of revenue growth, margin expansion and cash flow generation

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

Experienced and creative leadership through Management Team and Promoter Group

SAREGAMA | KEY FINANCIAL METRICS

QUARTERLY PRESENTATION | Q2 FY26

Revenue from Operations (INR Mn)

Adjusted EBITDA (INR Mn)

PBT (INR Mn)

23% CAGR

11,713

40% CAGR

3,566

3,029

2,712

8,030

7,366

5,447

5,215

5,806

4,420

3,566

2,185

2,230

1,451

786

763

511

237

43% CAGR

2,708

2,761

2,481

2,044

1,519

847

603

389

159

FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25

FY23 numbers are re-stated post impact of demerger

SAREGAMA | STRATEGIC OVERVIEW

OPERATING ACROSS 3 SEGMENTS

FOCUSSING ON 4 GENRES

MONETISING THROUGH 3 STREAMS

QUARTERLY PRESENTATION | Q2 FY26

BUSINESS SEGMENTS

CONTENT CREATION

LIVE EVENTS

ARTISTE MANAGEMENT

MUSIC

FILMS

COMEDY

INFLUENCER

TV SERIES

EXPERIENTIAL

DIGITAL SERIES

SHORT FORMAT

GENRES

MUSIC

DEVOTIONAL

STORY TELLING

COMEDY

REVENUE MODELS

PLATFORMS/ 3RD PARTY

DIRECT TO CUSTOMERS

BRANDS

QUARTERLY PRESENTATION | Q2 FY26

GLOBAL INDUSTRY HIGHLIGHTS

THE GROWTH OF GLOBAL MUSIC INDUSTRY CONTINUES

Global recorded music revenue grew 4.8% to reach USD29.6 bn in 2024

QUARTERLY PRESENTATION | Q2 FY26

0.6

0.7

0.9 0.3

0.8 0.9

0.9

1.8 0.1

22.2

20.9

21.5

18.4

17.9

16.7

15.1

1.1

2.5

0.2

1.2

3.2

0.3

10.9

1.2

3.5

0.4

9.5

0.3

1.3

3.6

0.4

8.1

0.3

1.3

0.6

7.4

0.3

1.4

4.2

0.9

6.8

0.3

1.6

4.1

1.3

6.1

0.6

2.9

0.8

0.6

2.7

0.9

0.6

2.5

0.9

0.5

2.3

1.1

19.3

20.4

17.5

15.7

0.4

2.2

1.2

0.4

2.4

1.4

12.7

10.7

0.4

2.5

1.6

8.8

0.4

2.2

2.5

6.2

0.3

1.7

3.8

1.8

0.3

1.8

3.6

2.6

0.3

2.1

4.4

5.3

5.1

4.9

4.8

4.1

3.9

3.7

4.3

4.5

5.1

4.8

1 9 9 9

2 0 0 0

2 0 0 1

2 0 0 2

2 0 0 3

2 0 0 4

2 0 0 5

2 0 0 6

2 0 0 7

2 0 0 8

2 0 0 9

2 0 1 0

2 0 1 1

2 0 1 2

2 0 1 3

2 0 1 4

2 0 1 5

2 0 1 6

2 0 1 7

2 0 1 8

2 0 1 9

2 0 2 0

2 0 2 1

2 0 2 2

2 0 2 3

2 0 2 4

Total Physical

Total Streaming

Downloads and Other Digital

Performance Rights

Synchronisation

Source: IFPI Global Music Report 2025

INDIA’S SUBSCRIPTION STORY : UNTAPPED POTENTIAL AHEAD

Growth Potential in terms of Subscribers

Growth Potential in terms of ARPU

QUARTERLY PRESENTATION | Q2 FY26

50%

42%

38%

Emerging Markets

13%

Average Global Penetration

Sweden

USA

Brazil

China

India

Emerging Markets

Developed Markets

Sweden

USA

Brazil

China

India

India’s music subscription penetration is among the lowest globally, with significant growth headroom. Expanding digital payments, affordable data, and premium content adoption will drive a subscription-led monetization boom, highlighting a large upside for players like Saregama.

Sources: 1. India Music Survey, September 2025. Bloomberg Intelligence Report 2. Music in Air, Goldman Sachs

INDIAN MEDIA & ENTERTAINMENT SECTOR IS EXPECTED TO GROW AT 7% PA ON THE BACK OF DIGITISATION; SAREGAMA HAS A PLAY IN MULTIPLE VERTICALS OF THE SECTOR

QUARTERLY PRESENTATION | Q2 FY26

MUSIC

VIDEO

LIVE EVENTS

ARTISTE MANAGEMENT

Industry size (2024): INR 32,000 Mn Next 3-year growth: ~14%

Film industry size (2024): INR 187,000 Mn Next 3-year growth : 4.4%

DRIVERS

• Easy Access: 750 Mn smart phones • Cheap Data • Fall in Piracy • Streaming turning Pay • Growth in Digital Advertising • Short-format apps inviting

Advertising

• 750 Mn smart phones • 30 Mn connected TVs expected to grow to 48 Mn by 2027

• 476 Mn+ YouTube users

Industry size (2024): INR 1,00,000 Mn Next 3-year growth : 18%

DRIVERS

• Rising Disposable Income • •

Lack of Entertainment options Improvement in Infrastructure

Industry size (2024) : INR 22,000 Mn Next 2-year growth : 24%

DRIVERS

• High inclination on advertisements by relatable individuals rather than traditional celebrities

• Brands focus on driving awareness

and engagement through influencers

• 40% of time spent on phones is on

social media platforms

Biggest driver is Digital Advertising. Grew by 17% last year to INR 700 Bn This is primarily due to explosion in consumption of content on digital platforms

Source: •

• •

State of Influencer Marketing India EY Report 2023 FICCI EY Report 2025 IFPI Report 2025

QUARTERLY PRESENTATION | Q2 FY26

COMPANY OVERVIEW

SEGMENTAL GROWTH

QUARTERLY PRESENTATION | Q2 FY26

6,104

5,441

4,410

3,585

2,839

2,361

1,920

1,024

1,085

1,159

16%

702

521

FY20

FY21

FY22

FY23

FY24

FY25

* One time income of INR 84Mn in FY23, INR 97Mn in FY22, INR 155Mn in FY21 and INR 21Mn in FY20 are excluded A. Music : Licensing + Artiste Management

2,062

52%

FY25 Revenue INR 11,713 Mn

24%

FY20

FY21

FY22

FY23

FY24

FY25

C. Video : Films, Digital Series, TV Series, and Short-Format

1,298

1,296

1,056

861

837

FY20

FY21

FY22

FY23

FY24

FY25

B. Retail

FY23 numbers are re-stated post impact of demerger

2,852

FY25

490

FY23

134

FY24

D. Live Events

OUR LICENSING PARTNERS

QUARTERLY PRESENTATION | Q2 FY26

Streaming Partners Music

Broadcasting Partners Music + Films & Series

Video Streaming Partners Music + Films & Series

Social Media Platforms Music + Films & Series

Brand Partnerships Music + Series

AI FOR TODAY AND TOMORROW

QUARTERLY PRESENTATION | Q2 FY26

Leveraging AI to transform content creation with enhanced efficiency,

~70% cost savings, and up to 80% faster execution.

OPERATIONAL HIGHLIGHTS

QUARTERLY PRESENTATION | Q2 FY26

MUSIC : LICENSING + ARTISTE MANAGEMENT REVENUE PER QUARTER (INR MN)

QUARTERLY PRESENTATION | Q2 FY26

1,707

1,716

1,653

1,577

1,480

1,490

1,319

1,331

1,178

1,198

1,217

1,125

1,079

992

927

882

1,028

Q2 FY22

Q3 FY22

Q4 FY22

Q1 FY23

Q2 FY23

Q3 FY23

Q4 FY23

Q1 FY24

Q2 FY24

Q3 FY24

Q4 FY24

Q1 FY25

Q2 FY25

Q3 FY25

Q4 FY25

Q1 FY26

Q2 FY26

• One time income of INR 84Mn in FY23 and INR 97Mn in FY22 are excluded •

The above number does not include income from Retail business

MUSIC : LICENSING

QUARTERLY PRESENTATION | Q2 FY26

• OTT: Progressive shift seen as paid subscription picks pace. Strong revenue growth in

medium to long-term

• Brand Licenses: Hero, Flipkart, Aldo, Britannia, Titan, etc.

• Broadcasting: Sun Neo, MMTV, ETV

• Digital Content Licenses: Aap Jaisa Koi (Netflix), Mayasabha (SonyLiv), Two Much with

Kajol and Twinkle (Amazon Prime), Dining with the Kapoors (Netflix), and many more

• Film Sync Licenses: War 2 (Hindi), Dhadak 2 (Hindi), Bromance (Malayalam), Bad Girl (Tamil), Kothapallilo Okappudu (Telugu), Shreeman VS Shreemati (Bengali), and many more

n o t n e t n o c d e t a r e n e g r e s u d n a

s l e n n a h c d e n w o

s t r o h S e b u T u o Y d n a e b u T u o Y

YouTube Views (Bn) per quarter 284

270

150

146

129

YouTube Subscribers (Mn)

112

126

137

149

160

194

Q1 FY25

Q2 FY25

Q3 FY25

Q4 FY25

Q1 FY26*

Q2 FY26*

Q1 FY25

Q2 FY25

Q3 FY25

Q4 FY25

Q1 FY26

Q2 FY26

*Effective 31-Mar 2025, You Tube has adopted a different methodology for counting YouTube Short views, hence the views from Q1 FY26 are disproportionately higher

s ’ t i

s s o r c a P

I a m a g e r a S d e t a e r

s w e i v

l l

s e d u l c n

INVESTMENT IN NEW CONTENT (INR MN)

~10,000 Mn

QUARTERLY PRESENTATION | Q2 FY26

3,160

1,949

1,095

1,192

324

151

195

FY19

FY20

FY21

FY22

FY23

FY24

FY25

FY26E

FY27E

Investment in New Content = Cost of Content + Marketing

MAJOR FILM ALBUMS RELEASED IN H1 FY26 - BUILDING IP FOR TOMORROW

Film

Language

No. of Songs

Production House

Star Cast

Box Office Collection (Rs. Cr)

QUARTERLY PRESENTATION | Q2 FY26

Telugu

Thug Life

Tamil

Idli Kadai

Tamil

Hai Junoon (Digital Series)

Hindi

Sarzameen

Hindi

Wall Poster Cinema

Nani, Srinidhi Shetty

Raaj Kamal Films International

Kamal Haasan, Silambarasan TR, Trisha

Dawn Pictures

Dhanush, Nithya Menen, Arun Vijay, Rajkiran

120+

95+

50+

VVAC Business of Ideas

Jacqueline Fernandez, Neil Nitin Mukesh, Sumedh Mudgalkar, Siddharth Nigam, Anusha Mani

* Digital Release

Dharma Productions

Kajol, Ibrahim Ali Khan, Prithviraj

* Digital Release

Tu Meri Main Tera

Love & War

Paradise

Premante

Devil

Mark

(Hindi)

(Telugu)

(Kannada)

Train

(Tamil)

Parasakthi

Udumbanchola Vision

Mahaparinirvaan

(Tamil)

(Malayalam)

(Marathi)

…

s e s a e e R g n m o c p U

MUSIC : LICENSING | CHARTBUSTERS OF H1 FY26

HINDI

MARATHI

BENGALI

QUARTERLY PRESENTATION | Q2 FY26

Kokaina

Tu Meri Poori Kahani

Chaal Turu Turu

Gaane Gaane

MUSIC : LICENSING | CHARTBUSTERS OF H1 FY26

TAMIL

TELUGU

MALAYALAM

QUARTERLY PRESENTATION | Q2 FY26

Jinguchaa

Muththa Mazhai

Thanu

Onam Mood

MUSIC : LICENSING I CONTENT CREATION

HINDI

MALAYALAM

TAMIL

QUARTERLY PRESENTATION | Q2 FY26

Film Music

TELUGU

Dhurandhar- Title Track (Dhurandhar)

Loading Bazooka (Bazooka)

Enna Sugam (Idli Kadai)

Thanu (Hit: 3)

Mere Murshid Mere Yaara (Sarzameen)

Kondal Vedan (Kondal)

Muththa Mazhai (Thug Life)

The Paradise Theme OST

Roop Suhana Lagta hai (Hai Junoon)

Neptune (Detective Ujjwalan)

Sugar Baby (Thug Life)

Darsanamey – Nari Nari Naduma Murari

MUSIC : LICENSING I CONTENT CREATION

QUARTERLY PRESENTATION | Q2 FY26

Non-Film Music

HINDI

GUJARATI

BHOJPURI

DEVOTIONAL

PUNJABI

Mashooqa

Sanedo

Kamariya Mein Peer

Sawan Song (Jhoom Jhoom ke Sawan)

Rootha Mera Ishq

Bhayada Na Dil Ma Raj Kare

Licensee

Shri Krishna Govind Hare Murari

Bigshots

Te Rakhiya Na Ghar Na Ghat Na

24 Ghanta

Durga Hai Meri Maa Ambe Hai Meri Maa

Goli Maro- Remix

HARYANVI

Confuse Darling

MARATHI

Chaal Turu Turu

MUSIC : ARTISTE MANAGEMENT

QUARTERLY PRESENTATION | Q2 FY26

Maahi

Mermaid Scales 21.4 Mn Followers

RJ Karishma 15.3 Mn Followers

Pranitha Subhash 6.9 Mn Followers

Amit Bhadana 44.4 Mn Followers

Dr. Kumar Vishwas 18.5 Mn Followers

Tony Kakkar 12.6 Mn Followers

Pragati Nagpal

Arjun Tanwar

Rehaan Roy 6.8 Mn Followers

Zaid Darbar 5.7 Mn Followers

Viraj Ghelani 1.3 Mn Followers

Paradox 4.5 Mn Followers

Lash Curry 700K Followers

Gurdeep Mehndi 70K Followers

ADDED 18 ARTISTES TAKING THE TOTAL COUNT TO 230+

r e t r a u q e h t g n i r u d d e d d A

QUARTERLY PRESENTATION | Q2 FY26

RETAIL

•

Transition from sales through distribution channel to sales only through E-commerce and Modern Retail outlets

• Reduction in number of SKUs

• Manpower restructuring exercise carried out

• While the volumes and topline have shrunk, profitability

margins improved

Carvaan Sales (Units '000s)

142

108

111

Q1 FY25

Q2 FY25

Q3 FY25

Q4 FY25

Q1 FY26

Q2 FY26

VIDEO : FILMS, TV, DIGITAL SERIES & SHORT-FORMAT

QUARTERLY PRESENTATION | Q2 FY26

• Released Jeethu Joseph’s

“Mirage” (Malayalam) starring Asif Ali

• Upcoming releases include

“Paradise” in Telugu and “Devil” in Kannada

s e s a e e r g n m o c p U

Mirage

Paradise (Telugu)

Devil (Kannada)

• Battle of Bands International: In collaboration with

Doordarshan, concluded at Waves 2025 with participation from 12 bands from 12 countries

• “Ilakkiya” continued its No. 1 TV serial position in

afternoon slot across all Tamil Channels. “Malli” is the slot leaders in its time slots

• Saregama TV Shows- YouTube channel garnered 450

Mn+ views in Q2 FY26

Future Outlook

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

l i F .

V T .

VIDEO : FILMS, TV, DIGITAL SERIES & SHORT-FORMAT

QUARTERLY PRESENTATION | Q2 FY26

22M+

Followers & Subscribers

8M+

Followers & Subscribers

6M+

Followers & Subscribers

2M+

Followers & Subscribers

s e i r e S l

a t i g i D

. C

t a m r o F - t r o h S .

QUARTERLY PRESENTATION | Q2 FY26

LIVE EVENTS

• Aura Tour by Diljit Dosanjh staged in Malaysia and Hong

Kong; upcoming shows in Australia, New Zealand

• CAP-MANIA Tour 2025 with Himesh Reshammiya kicked

off in Mumbai, followed by two shows in Delhi

• Comedy vertical strengthened with the Assisted Dating stand-up shows, signaling a strategic focus on curated IP based shows

• That’s So Viraj shows featuring Viraj Ghelani successfully

toured Mumbai and Gujarat

QUARTERLY PRESENTATION | Q2 FY26

FINANCIAL HIGHLIGHTS CONSOLIDATED

QUARTERLY FINANCIAL SUMMARY

Particulars (INR Mn)

Q2 FY26

Q1 FY26

QoQ

Q2 FY25

YoY

QUARTERLY PRESENTATION | Q2 FY26

Revenue from Operations

•Music : Licensing + Artiste Management

•Retail

•Video

•Events

Revenue from Operations

Adjusted EBITDA (EBITDA excluding Content Charge)

1,653

1,490

207

218

222

2,300

847

170

357

2,068

664

11%

22%

(39%)

11%

28%

1,480

212

720

2,418

842

12%

(2%)

(70%)

(5%)

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

Adj. EBITDA (INR Mn) & Adj. EBITDA Margin

35%

842

33%

680

42%

1,029

1,016

32%

21%

664

37%

847

Adj. EBITDA (INR Mn) & Adj. EBITDA Margin- Excluding Events

33%

679

35%

851

34%

794

42%

998

41%

862

34%

692

Q1 FY25

Q2 FY25

Q3 FY25

Q4 FY25

Q1 FY26

Q2 FY26

Q1 FY25

Q2 FY25

Q3 FY25

Q4 FY25

Q1 FY26

Q2 FY26

Adj. EBITDA (INR Mn)

Adj. EBITDA Margin

Adj. EBITDA (INR Mn)

Adj. EBITDA Margin

ADJUSTED EBITDA TO PAT

Particulars (INR Mn)

Q2 FY26

Q1 FY26

QoQ

Q2 FY25

YoY

FY25

QUARTERLY PRESENTATION | Q2 FY26

Revenue from Operation (A)

Total Expenses (B)

Adjusted EBITDA (C=A-B)

Adjusted EBITDA Margin

Content Charging Cost (D)

Depreciation ( E)

Finance Cost (F)

Other Income (G)

Exceptional Item (H)

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

Tax

PAT

PAT Margin (%)

Diluted EPS

2,300

1,453

847

37%

325

115

2,068

1,404

664

32%

263

142

601

163

438

19%

2.28

510

145

365

18%

1.90

11%

27%

24%

(19%)

18%

20%

(5%)

(8%)

(7%)

(8%)

(2%)

2,418

1,576

842

35%

350

125

593

144

449

19%

2.33

11,713

8,147

3,566

30%

1,282

581

2,761

718

2,043

18%

10.61

BALANCE SHEET

QUARTERLY PRESENTATION | Q2 FY26

Equity and Liabilities (INR Mn)

As at 30th Sep-25

As at 31st Mar-25

Shareholder's fund (a) Equity share capital (b) Other equity Net worth Non-controlling interest Non-current liabilities (a) Financial liabilities (i) Lease liabilities (ii) Other financial liabilities

(b) Provisions (c) Deferred tax liabilities (net) Current liabilities (a) Financial liabilities (i) Borrowings (ii) Lease liabilities (iii) Trade payables (iv) Other financial liabilities

(b) Other current liabilities (c) Provisions (d) Current tax liabilities

Total

193 16,417 16,610 34

193 15,641 15,834 34

7 112 63

554

10 14 1,209 1,359 1,729 862 41 22,604

14 309 59

518

13 1,274 812 1,319 731 34 20,951

Assets (INR Mn)

Non-current assets

As at 30th

As at 31st

Sep-25

Mar-25

(a) Property, plant and equipment

2,213

2,222

(b) Right-of-use assets

(d) Intangible assets

(e) Financial assets

(i) Other financial assets

(f) 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

(d) Other current assets

Total

7,394

6,082

533

501

2,391

2,402

1,757

1,313

252

3,776

191

1,149

399

1,173

22,604

1,112

1,432

694

4,743

193

359

1,059

20,951

CASH FLOW STATEMENT

Particulars (INR Mn)

H1 FY26

FY25

QUARTERLY PRESENTATION | Q2 FY26

Pre-Tax Profit

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

Change in Working capital

Taxes Paid

Net cash (used in)/generated from Operating Activities (A)

Spent on New Content @

Investment in Pocket Aces

Redemption/ (Investment) in Fixed Deposits with maturity > 3m

Redemption/(Investment) in Mutual Fund

Net cash generated from other Investing activities

Net cash used in Investing Activities (B)

Net cash (used in)/generated from Treasury Shares

Proceeds from /(Repayment of) Borrowing

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 (A+B+C)

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 #

@ Represents amount invested in acquiring/producing Music IPs # Exclude Investment in Bank FD with maturity more than 3 months and Investment in Mutual Funds INR 5,536 Mn ( FY25 INR 5,911 Mn)

1,111

171

(162)

(297)

(1,774)

(19)

979

(606)

196

(39)

(08)

(07)

2,761

1,882

(806)

823

3,854

(2,134)

(1,275)

205

412

(79)

(17)

(08)

(868)

(15)

(1,224)

(44)

(445)

694

252

(2,747)

(987)

120

569

694

FINANCIAL CHARTS (CONSOLIDATED)

QUARTERLY PRESENTATION | Q2 FY26

Revenue from Operations (Turnover) (INR Mn)

11,713

Music: Licensing+ Artist Mgmt. Revenue (INR Mn)

Content Charge (INR Mn)

PAT (INR Mn)

1,282

1,851

1976

2,042

6,104

5441

864

679

1,526

1,135

8030

7366

5806

4420

4410

3585

2839

463

179

FY21

FY22

FY23

FY24

FY25

FY21

FY22

FY23

FY24

FY25

FY21

FY22

FY23

FY24

FY25

FY21

FY22

FY23

FY24

FY25

* One time income of INR 84Mn in FY23, INR 97Mn in FY22, INR 155Mn in FY21 and INR 21Mn (FY20) are excluded

Adjusted EBIDTA Margin (%)

Return on Equity (ROE) (%)*

Diluted EPS (INR)

Dividend per Share (INR)

Debt to Equity Ratio

38%

37%

38%

33%

13%

15%

14%

15%

6.5

10.3

10.6

9.6

8.4

4.5

4.0

3.0

2.0

NIL

FY21

FY22

FY23

FY24

FY25

FY21

FY22

FY23

FY24

FY25

FY21

FY22

FY23

FY24

FY25

FY21

FY22

FY23

FY24

FY25

FY21 FY22 FY23 FY24 FY25

FY25 Adj EBITDA is excluding events

• ROE = PAT / Shareholders Equity • Shareholders Equity = Equity share capital and free reserves • Since FY22 INR 7500 Mn of fresh fund raise through QIP added to Shareholders Equity

Previous Years EPS has been restated basis face value of Re.1 per share

All FY23 numbers are re-stated, as applicable, post impact of demerger

QUARTERLY PRESENTATION | Q2 FY26

DISCLAIMER

Saregama India Ltd. Disclaimer:

In evaluating our business, we consider and use non-GAAP financial measures such as EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin, PAT Margin, Debt to Equity Ratio, Return on Equity, to review and assess our operating performance. These non-GAAP financial measures are not defined under Ind AS and are not presented in accordance with Ind AS. They may not be comparable to similarly titled measures reported by other companies due to potential inconsistencies in the method of calculation. We have included these non-GAAP financial measures because we believe they are indicative measures of our operating performance and are used by investors and analysts to evaluate companies in the same industry. These non-GAAP financial measures should be considered in addition to, and not as a substitute for, other measures of financial performance and liquidity reported in accordance with Ind AS. These measures should not be considered in isolation or construed as an alternative to Ind AS measures of performance or as an indicator of our operating performance, liquidity, profitability, or results of operations. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the Standalone/Consolidated Financial Statements.

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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