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QUARTERLY PRESENTATION | Q2 FY26 SAREGAMA INDIA LIMITED | QUARTERLY PRESENTATION | Q2 FY26
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QUARTERLY PRESENTATION | Q2 FY26 SAREGAMA STRENGTHS 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 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 Experienced and creative leadership through Management Team and Promoter Group Digital footprint : 400 Mn+ subscribers and followers across YouTube, Instagram and Facebook Strong licensing relationships with streaming applications and platforms for music and video
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QUARTERLY PRESENTATION | Q2 FY26 SAREGAMA | KEY FINANCIAL METRICS FY23 numbers are re-stated post impact of demerger Adjusted EBITDA (INR Mn) PBT (INR Mn)Revenue from Operations (INR Mn) 237 511 786 763 1,451 2,230 2,712 3,029 3,566 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 159 389 847 603 1,519 2,044 2,481 2,708 2,761 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 2,185 3,566 5,447 5,215 4,420 5,806 7,366 8,030 11,713 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 23% CAGR 40% CAGR 43% CAGR
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QUARTERLY PRESENTATION | Q2 FY26 4 SAREGAMA | STRATEGIC OVERVIEW OPERATING ACROSS 3 SEGMENTS FOCUSSING ON 4 GENRES MONETISING THROUGH 3 STREAMS BUSINESS SEGMENTS ARTISTE MANAGEMENT MUSIC INFLUENCER CONTENT CREATION MUSIC FILMS TV SERIES LIVE EVENTS MUSIC COMEDY EXPERIENTIAL GENRES REVENUE MODELS DIGITAL SERIES SHORT FORMAT MUSIC DEVOTIONAL STORY TELLING COMEDY PLATFORMS/ 3RD PARTY DIRECT TO CUSTOMERS BRANDS
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QUARTERLY PRESENTATION | Q2 FY26 5 GLOBAL INDUSTRY HIGHLIGHTS
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QUARTERLY PRESENTATION | Q2 FY26 THE GROWTH OF GLOBAL MUSIC INDUSTRY CONTINUES 22.2 20.9 21.5 20 18.4 17.9 16.7 15.1 13 10.9 9.5 8.1 7.4 6.8 6.1 5.3 5.1 4.9 4.8 4.1 3.9 3.7 4.3 4.5 5.1 4.8 0.1 0.2 0.3 0.4 0.4 0.6 0.9 1.3 1.8 2.6 4.4 6.2 8.8 10.7 12.7 15.7 17.5 19.3 20.4 0.3 0.9 1.8 2.5 3.2 3.5 3.6 4 4.2 4.1 3.8 3.6 3 2.5 1.6 1.4 1.2 1.1 0.9 0.9 0.8 0.6 0.7 0.7 0.9 0.8 0.9 1.1 1.2 1.2 1.3 1.3 1.4 1.6 1.7 1.8 2.1 2.2 2.5 2.4 2.2 2.3 2.5 2.7 2.9 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.4 0.4 0.4 0.4 0.5 0.6 0.6 0.6 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Total Physical Total Streaming Downloads and Other Digital Performance Rights Synchronisation Global recorded music revenue grew 4.8% to reach USD29.6 bn in 2024 Source: IFPI Global Music Report 2025
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QUARTERLY PRESENTATION | Q2 FY26 INDIA’S SUBSCRIPTION STORY : UNTAPPED POTENTIAL AHEAD 50% 42% 38% 13% 13% 1% Sweden USA UK Brazil China India Growth Potential in terms of Subscribers Sweden USA UK Brazil China India Average Global Penetration Emerging Markets 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 Emerging Markets Developed Markets Growth Potential in terms of ARPU
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QUARTERLY PRESENTATION | Q2 FY26 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 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 VIDEO Film industry size (2024): INR 187,000 Mn Next 3-year growth : 4.4% DRIVERS • 750 Mn smart phones • 30 Mn connected TVs expected to grow to 48 Mn by 2027 • 476 Mn+ YouTube users LIVE EVENTS Industry size (2024): INR 1,00,000 Mn Next 3-year growth : 18% DRIVERS • Rising Disposable Income • Lack of Entertainment options • Improvement in Infrastructure ARTISTE MANAGEMENT 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 MUSIC Industry size (2024): INR 32,000 Mn Next 3-year growth: ~14% DRIVERS • Easy Access: 750 Mn smart phones • Cheap Data • Fall in Piracy • Streaming turning Pay • Growth in Digital Advertising • Short-format apps inviting Advertising
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QUARTERLY PRESENTATION | Q2 FY26 9 COMPANY OVERVIEW
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QUARTERLY PRESENTATION | Q2 FY26 16% 24% 8% 52% SEGMENTAL GROWTH 2,361 2,839 3,585 4,410 5,441 6,104 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 FY23 numbers are re-stated post impact of demerger FY25 Revenue INR 11,713 Mn A. Music : Licensing + Artiste Management B. Retail C. Video : Films, Digital Series, TV Series, and Short-Format D. Live Events 2,062 861 1,056 1,298 1,296 837 FY20 FY21 FY22 FY23 FY24 FY25 490 134 2,852 FY23 FY24 FY25 702 521 1,024 1,085 1,159 1,920 FY20 FY21 FY22 FY23 FY24 FY25
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QUARTERLY PRESENTATION | Q2 FY26 11 Streaming Partners Music Broadcasting Partners Music + Films & Series Video Streaming Partners Music + Films & Series Social Media Platforms Music + Films & Series v OUR LICENSING PARTNERS Brand Partnerships Music + Series
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QUARTERLY PRESENTATION | Q2 FY26 12 AI FOR TODAY AND TOMORROW Leveraging AI to transform content creation with enhanced efficiency, ~70% cost savings, and up to 80% faster execution.
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QUARTERLY PRESENTATION | Q2 FY26 13 OPERATIONAL HIGHLIGHTS
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QUARTERLY PRESENTATION | 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 + ARTISTE MANAGEMENT REVENUE PER QUARTER (INR MN) 927 992 882 1,028 1,125 1,178 1,079 1,198 1,217 1,319 1,707 1,331 1,480 1,577 1,716 1,490 1,653 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
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QUARTERLY PRESENTATION | Q2 FY26 15 • 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 Includes all views related Saregama IP across it’s owned channels and user generated content on YouTube and YouTube Shorts *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 MUSIC : LICENSING 92 150 146 129 284 270 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26* Q2 FY26* YouTube Views (Bn) per quarter 112 126 137 149 160 194 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 YouTube Subscribers (Mn)
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QUARTERLY PRESENTATION | Q2 FY26 INVESTMENT IN NEW CONTENT (INR MN) Investment in New Content = Cost of Content + Marketing ~10,000 Mn 324 151 195 1,095 1,192 1,949 3,160 FY19 FY20 FY21 FY22 FY23 FY24 FY25 FY26E FY27E
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QUARTERLY PRESENTATION | Q2 FY26 MAJOR FILM ALBUMS RELEASED IN H1 FY26 - BUILDING IP FOR TOMORROW Telugu 04 Wall Poster Cinema Nani, Srinidhi Shetty 120+Hit: 3 Hindi 41 VVAC Business of Ideas Jacqueline Fernandez, Neil Nitin Mukesh, Sumedh Mudgalkar, Siddharth Nigam, Anusha Mani Hai Junoon (Digital Series) Tamil 08 Raaj Kamal Films International Kamal Haasan, Silambarasan TR, Trisha 95+Thug Life Film Language No. of Songs Production House Star Cast Box Office Collection (Rs. Cr) * Digital Release Hindi 08 Dharma Productions Kajol, Ibrahim Ali Khan, PrithvirajSarzameen * Digital Release Tamil 06 Dawn Pictures Dhanush, Nithya Menen, Arun Vijay, Rajkiran 50+Idli Kadai Upcoming Releases Tu Meri Main Tera (Hindi) Love & War (Hindi) Paradise (Telugu) Premante (Telugu) Devil (Kannada) Mark (Kannada) Parasakthi (Tamil) Udumbanchola Vision (Malayalam) Mahaparinirvaan (Marathi) … Train (Tamil)
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QUARTERLY PRESENTATION | Q2 FY26 MUSIC : LICENSING | CHARTBUSTERS OF H1 FY26 MARATHIHINDI BENGALI Chaal Turu TuruKokaina Tu Meri Poori Kahani Gaane Gaane
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QUARTERLY PRESENTATION | Q2 FY26 MUSIC : LICENSING | CHARTBUSTERS OF H1 FY26 TELUGU Thanu TAMIL Jinguchaa Muththa Mazhai MALAYALAM Onam Mood
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QUARTERLY PRESENTATION | Q2 FY26 HINDI TELUGUMALAYALAM Film Music TAMIL MUSIC : LICENSING I CONTENT CREATION Roop Suhana Lagta hai (Hai Junoon) Dhurandhar- Title Track (Dhurandhar) Mere Murshid Mere Yaara (Sarzameen) Loading Bazooka (Bazooka) Kondal Vedan (Kondal) Neptune (Detective Ujjwalan) Enna Sugam (Idli Kadai) Muththa Mazhai (Thug Life) Sugar Baby (Thug Life) Thanu (Hit: 3) The Paradise Theme OST Darsanamey – Nari Nari Naduma Murari
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QUARTERLY PRESENTATION | Q2 FY26 21 HINDI GUJARATI BHOJPURI PUNJABI MUSIC : LICENSING I CONTENT CREATION Non-Film Music DEVOTIONAL HARYANVI MARATHI Mashooqa Rootha Mera Ishq Bigshots Sanedo Bhayada Na Dil Ma Raj Kare Te Rakhiya Na Ghar Na Ghat Na Kamariya Mein Peer Licensee 24 Ghanta Shri Krishna Govind Hare Murari Durga Hai Meri Maa Ambe Hai Meri Maa Sawan Song (Jhoom Jhoom ke Sawan) Goli Maro- Remix Confuse Darling Chaal Turu Turu
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QUARTERLY PRESENTATION | Q2 FY26 22 Maahi Arjun Tanwar Viraj Ghelani 1.3 Mn Followers RJ Karishma 15.3 Mn Followers Pragati Nagpal Mermaid Scales 21.4 Mn Followers ADDED 18 ARTISTES TAKING THE TOTAL COUNT TO 230+ MUSIC : ARTISTE MANAGEMENT Dr. Kumar Vishwas 18.5 Mn Followers Paradox 4.5 Mn Followers Pranitha Subhash 6.9 Mn Followers Zaid Darbar 5.7 Mn Followers Rehaan Roy 6.8 Mn Followers Tony Kakkar 12.6 Mn Followers Lash Curry 700K Followers Amit Bhadana 44.4 Mn Followers Added during the quarter Gurdeep Mehndi 70K Followers
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QUARTERLY PRESENTATION | Q2 FY26 23 RETAIL 142 108 111 73 88 59 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Carvaan Sales (Units '000s)• 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
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QUARTERLY PRESENTATION | Q2 FY26 VIDEO : FILMS, TV, DIGITAL SERIES & SHORT-FORMAT A. Films • Released Jeethu Joseph’s “Mirage” (Malayalam) starring Asif Ali • Upcoming releases include “Paradise” in Telugu and “Devil” in Kannada Upcoming releases Mirage B. TV • 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 Paradise (Telugu) Devil (Kannada)
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QUARTERLY PRESENTATION | Q2 FY26 8M+ 6M+ 2M+22M+ Followers & Subscribers Followers & Subscribers Followers & Subscribers Followers & Subscribers VIDEO : FILMS, TV, DIGITAL SERIES & SHORT-FORMAT C. Digital SeriesD. Short-Format
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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
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QUARTERLY PRESENTATION | Q2 FY26 27 FINANCIAL HIGHLIGHTS CONSOLIDATED
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QUARTERLY PRESENTATION | Q2 FY26 28 QUARTERLY FINANCIAL SUMMARY 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. 679 851 794 998 692 862 33% 35% 34% 42% 34% 41% Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Adj. EBITDA (INR Mn) & Adj. EBITDA Margin- Excluding Events Adj. EBITDA (INR Mn) Adj. EBITDA Margin 680 842 1,029 1,016 664 847 33% 35% 21% 42% 32% 37% 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 Particulars (INR Mn) Q2 FY26 Q1 FY26 QoQ Q2 FY25 YoY Revenue from Operations •Music : Licensing + Artiste Management 1,653 1,490 11% 1,480 12% •Retail 207 170 22% 212 (2%) •Video 218 357 (39%) 720 (70%) •Events 222 51 - 6 - Revenue from Operations 2,300 2,068 11% 2,418 (5%) Adjusted EBITDA (EBITDA excluding Content Charge) 847 664 28% 842 1%
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QUARTERLY PRESENTATION | Q2 FY26 29 ADJUSTED EBITDA TO PAT Particulars (INR Mn) Q2 FY26 Q1 FY26 QoQ Q2 FY25 YoY FY25 Revenue from Operation (A) 2,300 2,068 11% 2,418 (5%) 11,713 Total Expenses (B) 1,453 1,404 4% 1,576 (8%) 8,147 Adjusted EBITDA (C=A-B) 847 664 27% 842 1% 3,566 Adjusted EBITDA Margin 37% 32% 35% 30% Content Charging Cost (D) 325 263 24% 350 (7%) 1,282 Depreciation ( E) 25 23 20 97 Finance Cost (F) 11 10 4 57 Other Income (G) 115 142 (19%) 125 (8%) 581 Exceptional Item (H) - - 50 PBT (C-D-E-F+G+H) 601 510 18% 593 1% 2,761 Tax 163 145 144 718 PAT 438 365 20% 449 (2%) 2,043 PAT Margin (%) 19% 18% 19% 18% Diluted EPS 2.28 1.90 2.33 10.61
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QUARTERLY PRESENTATION | Q2 FY26 30 BALANCE SHEET Equity and Liabilities (INR Mn) As at 30th As at 31st Sep-25 Mar-25 Shareholder's fund (a) Equity share capital 193 193 (b) Other equity 16,417 15,641 Net worth 16,610 15,834 Non-controlling interest 34 34 Non-current liabilities (a) Financial liabilities (i) Lease liabilities 7 14 (ii) Other financial liabilities 112 309 (b) Provisions 63 59 (c) Deferred tax liabilities (net) 554 518 Current liabilities (a) Financial liabilities (i) Borrowings 10 - (ii) Lease liabilities 14 13 (iii) Trade payables 1,209 1,274 (iv) Other financial liabilities 1,359 812 (b) Other current liabilities 1,729 1,319 (c) Provisions 862 731 (d) Current tax liabilities 41 34 Total 22,604 20,951 Assets (INR Mn) As at 30th As at 31st Sep-25 Mar-25 Non-current assets (a) Property, plant and equipment 2,213 2,222 (b) Right-of-use assets 16 21 (c) Investment properties 20 20 (d) Intangible assets 7,394 6,082 (e) Financial assets (i) Other financial assets 27 78 (f) Other non-current assets 533 501 Current assets (a) Inventories 2,391 2,402 (b) Financial assets (i) Investments 1,757 1,112 (ii) Trade receivables 1,313 1,432 (iii) Cash and cash equivalents 252 694 (iv) Bank balances other than (iii) above 3,776 4,743 (v) Loans 191 193 (vi) Other financial assets 1,149 33 (c) Current tax assets (net) 399 359 (d) Other current assets 1,173 1,059 Total 22,604 20,951
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QUARTERLY PRESENTATION | Q2 FY26 31 CASH FLOW STATEMENT @ 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) Particulars (INR Mn) H1 FY26 FY25 Pre-Tax Profit 1,111 2,761 Change in other operating activities ( including non-cash Items) 171 17 Change in Working capital (162) 1,882 Taxes Paid (297) (806) Net cash (used in)/generated from Operating Activities (A) 823 3,854 Spent on New Content @ (1,774) (2,134) Investment in Pocket Aces (19) (1,275) Redemption/ (Investment) in Fixed Deposits with maturity > 3m 979 45 Redemption/(Investment) in Mutual Fund (606) 205 Net cash generated from other Investing activities 196 412 Net cash used in Investing Activities (B) (1,224) (2,747) Net cash (used in)/generated from Treasury Shares (39) (79) Proceeds from /(Repayment of) Borrowing 10 (17) Repayment of Lease Liability (08) (08) Dividend paid - (868) Interest paid (07) (15) Net cash (used in)/generated from Financing Activities (C) (44) (987) Net (decrease)/increase in Cash and Cash Equivalent (A+B+C) (445) 120 Cash and Cash Equivalents at the beginning of the period 694 569 Effect of Translation of foreign currency cash and cash equivalents 03 05 Cash and Cash Equivalents at end of the period # 252 694
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QUARTERLY PRESENTATION | Q2 FY26 FINANCIAL CHARTS (CONSOLIDATED) 2839 3585 4410 5441 6,104 FY21 FY22 FY23 FY24 FY25 Revenue from Operations (Turnover) (INR Mn) PAT (INR Mn) Music: Licensing+ Artist Mgmt. Revenue (INR Mn) Diluted EPS (INR)Return on Equity (ROE) (%)* Dividend per Share (INR) • 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 * One time income of INR 84Mn in FY23, INR 97Mn in FY22, INR 155Mn in FY21 and INR 21Mn (FY20) are excluded Previous Years EPS has been restated basis face value of Re.1 per share Content Charge (INR Mn) Adjusted EBIDTA Margin (%) Debt to Equity Ratio All FY23 numbers are re-stated, as applicable, post impact of demerger 4420 5806 7366 8030 11,713 FY21 FY22 FY23 FY24 FY25 179 463 679 864 1,282 FY21 FY22 FY23 FY24 FY25 1,135 1,526 1,851 1976 2,042 FY21 FY22 FY23 FY24 FY25 33% 38% 37% 38% 38% FY21 FY22 FY23 FY24 FY25 FY25 Adj EBITDA is excluding events 33% 13% 15% 14% 15% 1% FY21 FY22 FY23 FY24 FY25 6.5 8.4 9.6 10.3 10.6 5 FY21 FY22 FY23 FY24 FY25 2.0 3.0 3.0 4.0 4.5 - FY21 FY22 FY23 FY24 FY25 - FY21 FY22 FY23 FY24 FY25 NIL
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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.