In the coming years, diversification will remain a key strategy for us
to leverage synergies across our business streams.
With a sustained market presence, we have achieved record-breaking
revenues and profits. In FY 2023-24, our revenue from operations reached Rs. 803 Cr,
accompanied by a robust adjusted EBITDA of Rs. 303 Cr, with a margin of 38%. The Company
delivered a PBT of Rs. 271 Cr with a margin of 34% and a PAT of Rs. 198 Cr for the fiscal
year. We are pleased to highlight the consistency of our performance, with our top-line
growing at a CAGR of 20% over the past 7 years. Even more significant is the fact that our
profits have increased at a CAGR of 50% over the same period. We are confident that our
growth trajectory and trend of surpassing our own records will continue, bolstered by
factors such as the digital boom, ample capital for future investments, and a highly
skilled team.
The music segment has shown robust growth. This is a result of our
strategy of investing in new music and diversifying the monetisation of our catalogue. In
FY 2023-24, we doubled our investments in new music and plan to further increase these
investments by way of investing ~Rs 1,000 Cr over the next 3 years starting FY 2024-25. In
the coming years, diversification will remain a key strategy for us to leverage synergies
across our business streams. The launch of our artist management vertical exemplifies this
approach.
Our commitment to core values such as governance, stakeholder value
creation, and sustainability remain unwavering. We have integrated ESG parameters into our
business activities and present a holistic view through our Integrated Report to enhance
transparency.
We continue to reward our shareholders, having paid an interim dividend
of Rs. 77.1 Cr (Rs. 4 per Equity Share) during Q4 FY 2023-24.
I extend a heartfelt thank you to all stakeholders for their unwavering
support in achieving our targets for the past year. We are confident that we stand at the
threshold of an exciting journey that promises value creation for all.
Yours sincerely,
Avarna Jain
Vice Chairperson