Q2FY23 saw operating revenue of INR 189 crores and a PAT of INR 46 crores, which basically means 30% year-on-year increase in income and 36% year-on-year increase on PAT side.
On a half-yearly basis, then both revenue and PAT have grown by 43% on a year-on-year basis. This is a continuation with last year's growth number of 31% in operating revenues and 35% in PAT.
The growth story that Saregama is on, is there to stay, and there are reasons for it.
Music licensing, core business, which, again, in this quarter, has grown at a rate over 20%.
Strategy remains to not concentrate only in Hindi, but will take leadership position across all the major Indian languages.
Right now, internal accruals are more than enough to take care of all the organic purchases.
Seeing over the last 4 quarters, own channel numbers are growing at a much faster pace than the user-generated content.
YouTube Shorts deal was done as part of this quarter.
Deals are becoming better because of the quality of content, especially the newer content. It's the strength of that content.
Hopeful to complete demerger by March '23.
Maintain 22% to 25% growth in music licensing business.
Events as a concept is a low-margin business. Once the business gets stable, it will be a 5% to 10% margin business.
As of last year, 40% of revenue was coming from 21st century music and then 21st century, majority of the investment is the last 3, 4 years only.
If there's a INR 100 deal, on an average, 80 bucks go towards content and 20 bucks go to artist.
Will stick to a 32% to 33% OIBCID margin number.
Total content charge in quarter 2 is INR 17 crores. On the H1 basis it's INR 34 crores.
Expect films, series and tv to grow around 20% to 25% on a year-on-year basis with a 15% margin there.
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Good writeup Saketh, curious to know whats getting demerged and any timeline?