22-23
22-23
22-23
Registered Office: 33, Jessore Road, Dum Dum, Kolkata - 700 028
web: www.saregama.com, Email id: co.sec@saregama.com, Phone no: 033-2551-2984
CIN:L22213WB1946PLC014346
(Rs. in Lakhs)
Statement of Consolidated Financial Results for the Three Months and Year Ended 31 March 2023
3 Months ended 3 Months ended 3 Months ended Year ended Year ended
Sl. 31 March 2023 31 December 2022 31 March 2022 31 March 2023 31 March 2022
Particulars
No. (Audited) (Unaudited) (Audited) (Audited) (Audited)
Refer Note 3 Refer Note 3
1 Income
(a) Revenue from operations 20,741 18,546 18,024 75,133 58,063
(b) Other income 2,468 1,515 1,884 6,106 3,491
Total Income 23,209 20,061 19,908 81,239 61,554
2 Expenses
(a) Operational cost* 7,540 4,692 6,127 22,567 14,311
(b) Employee benefits expense 2,331 2,167 1,780 8,589 7,345
(c) Finance costs 171 136 149 578 452
(d) Depreciation and amortisation expense 660 598 450 2,124 1,310
(e) Advertisement and sales promotion 1,784 2,508 1,698 7,840 5,205
(f) Royalty expense 2,023 1,770 1,522 6,555 6,314
(g) Other expenses 2,153 1,148 1,754 7,616 6,176
Total Expenses 16,662 13,019 13,480 55,869 41,113
3 Profit before exceptional items and tax (1-2) 6,547 7,042 6,428 25,370 20,441
4 Exceptional Items - - - - -
7 Profit for the period (5-6) 4,917 5,228 4,798 18,899 15,265
9 Total comprehensive income for the period (7+8) 3,259 4,962 2,703 17,020 19,108
13 Paid-up Equity Share Capital (Face Value of Re.1/- each) (Refer Note 2) 1,928 1,928 1,928 1,928 1,928
*Includes media content cost, contract manufacturing charges and cost of production of films, television serials and events.
#Figures for three months are not annualised.
Saregama India Limited
Registered Office: 33, Jessore Road, Dum Dum, Kolkata - 700 028
web: www.saregama.com, Email id: co.sec@saregama.com, Phone no: 033-2551-2984
CIN:L22213WB1946PLC014346
(Rs. in Lakhs)
Consolidated Segment wise Revenue, Results, Assets and Liabilities for the Three Months and Year Ended 31 March 2023
3 Months ended 3 Months ended 3 Months ended Year ended Year ended
Sl. 31 March 2023 31 December 2022 31 March 2022 31 March 2023 31 March 2022
Particulars
No. (Audited) (Unaudited) (Audited) (Audited) (Audited)
Refer Note 3 Refer Note 3
1 Segment Revenue
(a) Music 14,613 15,475 12,710 57,920 47,381
(b) Films, Television serials and Events 5,753 2,719 5,253 15,742 10,239
(c) Publication 375 352 61 1,471 443
Total Segment Revenue 20,741 18,546 18,024 75,133 58,063
Less: Inter Segment Revenue - - - - -
Total Revenue from Operations 20,741 18,546 18,024 75,133 58,063
2 Segment Results
(a) Music 5,838 7,046 5,834 25,629 22,519
(b) Films, Television serials and Events 113 225 741 458 1,491
(c) Publication 33 (56) (318) (100) (1,177)
Total 5,984 7,215 6,257 25,987 22,833
Less:
(a) Finance costs 171 136 149 578 452
(b) Other unallocable expenditure net of unallocable income (734) 37 (320) 39 1,940
Total Profit Before Tax 6,547 7,042 6,428 25,370 20,441
3 Segment Assets
(a) Music 63,042 60,906 50,398 63,042 50,398
(b) Films, Television serials and Events 18,989 17,503 11,077 18,989 11,077
(c) Publication 470 530 528 470 528
(d) Unallocated 1,01,820 1,13,399 1,06,784 1,01,820 1,06,784
Total Segment Assets 1,84,321 1,92,338 1,68,787 1,84,321 1,68,787
4 Segment Liabilities
(a) Music 25,631 29,374 20,404 25,631 20,404
(b) Films, Television serials and Events 3,895 4,408 2,757 3,895 2,757
(c) Publication 344 431 296 344 296
(d) Unallocated 6,413 7,366 7,237 6,413 7,237
Total Segment Liabilities 36,283 41,579 30,694 36,283 30,694
Saregama India Limited
Registered Office: 33, Jessore Road, Dum Dum, Kolkata - 700 028
web: www.saregama.com, Email id: co.sec@saregama.com, Phone no: 033-2551-2984
CIN:L22213WB1946PLC014346
(Rs. in Lakhs)
Consolidated Statement of Assets and Liabilities
As at As at
Sl.
Particulars 31 March 2023 31 March 2022
No.
(Audited) (Audited)
ASSETS
1 Non-current assets
(a) Property, plant and equipment 22,077 21,411
(b) Right-of-use assets 108 126
(c) Investment properties 214 219
(d) Intangible assets 11,426 6,017
(e) Intangible assets under development 405 175
(f) Financial assets
(i) Investments 12,206 14,528
(ii) Other financial assets 5,296 197
(g) Other non-current assets 5,735 2,916
2 Current assets
(a) Inventories 16,870 10,544
(b) Financial assets
(i) Investment 23,877 53,076
(ii) Trade receivables 15,118 10,780
(iii) Cash and cash equivalents 2,232 15,273
(iv) Bank balances other than (iii) above 49,156 17,101
(v) Loans 2,621 2,282
(vi) Other financial assets 2,206 793
(c) Current tax assets (net) 3,206 2,567
(d) Other current assets 11,568 10,782
Liabilities
2 Non-current liabilities
(a) Financial liabilities
(i) Lease liabilities 23 71
(b) Employee benefit obligations 469 419
(c) Deferred tax liabilities (net) 5,386 5,616
Total non-current liabilities 5,878 6,106
3 Current liabilities
(a) Financial liabilities
(i) Lease liabilities 92 59
(ii) Trade payables
a) Total outstanding dues of micro enterprises and small enterprises 4 1
b) Total outstanding dues of creditors other than micro enterprises and small enterprises 6,330 6,452
(iii) Other financial liabilities 5,837 4,306
(b) Other current liabilities 8,829 4,661
(c) Provisions 9,133 9,018
(d) Employee benefit obligations 91 78
(e) Current tax liabilities (net) 89 13
(Rs. in Lakhs)
Consolidated Statement of Cash Flows
Year ended Year ended
Sl.
Particulars 31 March 2023 31 March 2022
No.
(Audited) (Audited)
Profit Before Tax 25,370 20,441
Net (decrease) / increase in cash and cash equivalents (A+B+C) (13,202) 14,136
Cash and Cash Equivalents at the beginning of the year 15,273 1,113
Effect of exchange rate changes 161 24
Cash and Cash Equivalents at the end of the year 2,232 15,273
Note: The above Consolidated Statement of Cash Flow has been prepared under the "Indirect Method" as set out in Ind AS 7 - "Statement of Cash Flows".
NOTES:
1 The aforementioned results for the three months and year ended 31 March 2023 have been reviewed and recommended by the Audit Committee in their meeting held on 19 May 2023 and approved
by the Board of Directors of the Parent Company at their meeting held on even date. These results have been subjected to audit by the Statutory Auditors of the Parent Company who have issued an
unmodified audit report on the consolidated annual financial results for the year ended 31 March 2023.
2 Pursuant to the Special Resolution passed by the Shareholders of the Parent Company by way of Postal Ballot through electronic means on 31 March 2022, the Parent Company has sub-divided its
equity share of face value of Rs.10/- (Rs. Ten only) each fully paid up, into 10 (Ten) equity shares of face value Re.1/- (Rupee One only) each fully paid-up, effective from 28 April 2022. Hence,
shares have now been adjusted on account of sub-division of share done by the Parent Company. This has been considered for calculating weighted average number of equity shares for all periods
presented, as per Ind AS 33- Earnings Per Share.
3 The figures for the three months ended 31 March 2023 and 31 March 2022 are the balancing figures between audited figures in respect of the full financial year and published year to date figures
upto the end of third quarter of the relevant financial year. The published year to date figures upto the end of third quarter of the relevant financial year were subject to Limited Review.
4 The Consolidated financial results are prepared in accordance with the principles and procedures as set out in Ind AS 110, notified by Ministry of Corporate Affairs. The consolidated financial
results of the Company include its seven subsidiaries (including one step-down subsidiary), i.e. Saregama Limited (formerly known as Saregama Plc.), RPG Global Music Limited, Saregama FZE,
Kolkata Metro Networks Limited, Open Media Network Private Limited, Digidrive Distributors Limited and Saregama Inc. (Step-down subsidiary of Saregama India Limited) (hereinafter referred
as "Group") combined on a line-by-line basis by adding together the book values of like items of assets, liabilities, income and expenses eliminating intra-company balances and transactions and
resulting unrealised gains/losses. The Consolidated financial results are prepared applying uniform accounting policies. The Group has one joint venture i.e. Saregama Regency Optimedia Private
Limited, which is under liquidation with effect from 19 September 2016. Accordingly, this entity has not been consolidated by the Group.
5 Based on the guiding principles given in Ind AS 108 on "Operating Segments", the Group's business activity falls within three operating segments, namely:
(a) Music
(b) Films, Television serials and Events
(c) Publication
Segment Revenue, Results, Assets and Liabilities represent amounts identifiable to each of the segments. Other "unallocable expenditure net of unallocable income" mainly includes interest income,
expenses on common services not directly identifiable to individual segments and corporate expenses.
Segment Assets and Segment Liabilities are as at 31 March 2023, 31 December 2022 and 31 March 2022. Unallocable corporate assets less unallocable corporate liabilities mainly represent
investment of surplus funds and cash and bank balances.
6 For more details on Results, visit Investor Relations section of our website at http://www.saregama.com and Financial Results under Corporates section of www.nseindia.com and
www.bseindia.com.
(Rs. in Lakhs)
Statement of Standalone Financial Results for the Three Months and Year Ended 31 March 2023
3 Months ended 3 Months ended 3 Months ended Year ended Year ended
Sl. 31 March 2023 31 December 2022 31 March 2022 31 March 2023 31 March 2022
Particulars
No. (Audited) (Unaudited) (Audited) (Audited) (Audited)
Refer Note 4 Refer Note 4
1 Income
(a) Revenue from operations 20,153 18,158 17,737 69,518 56,831
(b) Other income 2,354 1,542 1,724 6,026 3,341
Total Income 22,507 19,700 19,461 75,544 60,172
2 Expenses
(a) Operational cost* 7,428 4,753 6,076 19,039 14,053
(b) Employee benefits expense 2,047 1,878 1,513 7,403 6,108
(c) Finance costs 169 135 148 571 451
(d) Depreciation and amortisation expense 650 587 448 2,082 1,302
(e) Advertisement and sales promotion 1,718 2,397 1,982 7,473 6,197
(f) Royalty expense 2,028 1,758 1,528 6,548 6,320
(g) Other expenses 2,390 1,079 1,450 7,442 5,542
Total Expenses 16,430 12,587 13,145 50,558 39,973
3 Profit before exceptional items and tax (1-2) 6,077 7,113 6,316 24,986 20,199
4 Exceptional Items - - - - -
6 Tax Expense
(a) Current Tax 1,552 1,650 1,403 6,354 4,986
(b) Deferred Tax (net) 69 154 207 84 171
Total tax expense 1,621 1,804 1,610 6,438 5,157
7 Profit for the period (5-6) 4,456 5,309 4,706 18,548 15,042
9 Total comprehensive income for the period (7+8) 2,846 4,916 2,998 16,493 18,257
10 Paid-up Equity Share Capital (Face Value of Re.1/- each) (Refer Note 2) 1,928 1,928 1,928 1,928 1,928
*Includes media content cost, contract manufacturing charges and cost of production of films, television serials and events.
#Figures for three months are not annualised.
Saregama India Limited
Registered Office: 33, Jessore Road, Dum Dum, Kolkata - 700 028
web: www.saregama.com, Email id: co.sec@saregama.com, Phone no: 033-2551-2984
CIN:L22213WB1946PLC014346
(Rs. in Lakhs)
Standalone Segment wise Revenue, Results, Assets and Liabilities for the Three Months and Year Ended 31 March 2023
3 Months ended 3 Months ended 3 Months ended Year ended Year ended
Sl. 31 March 2023 31 December 2022 31 March 2022 31 March 2023 31 March 2022
Particulars
No. (Audited) (Unaudited) (Audited) (Audited) (Audited)
Refer Note 4 Refer Note 4
1 Segment Revenue
(a) Music 14,417 15,303 12,484 57,229 46,592
(b) Films, Television serials and Events 5,736 2,855 5,253 12,289 10,239
Total segment revenue 20,153 18,158 17,737 69,518 56,831
Less: Inter Segment Revenue - - - - -
Total Revenue from Operations 20,153 18,158 17,737 69,518 56,831
2 Segment Results
(a) Music 6,082 7,087 5,400 26,086 21,082
(b) Films, Television serials and Events 78 233 741 196 1,491
Total 6,160 7,320 6,141 26,282 22,573
Less:
(a) Finance costs 169 135 148 571 451
(b) Other unallocable expenditure net of unallocable income (86) 72 (323) 725 1,923
Total Profit Before Tax 6,077 7,113 6,316 24,986 20,199
3 Segment Assets
(a) Music 63,012 62,369 49,828 63,012 49,828
(b) Films, Television serials and Events 18,989 16,816 11,077 18,989 11,077
(c) Unallocated 99,852 1,10,932 1,06,251 99,852 1,06,251
Total Segment Assets 1,81,853 1,90,117 1,67,156 1,81,853 1,67,156
4 Segment Liabilities
(a) Music 25,515 29,169 19,978 25,515 19,978
(b) Films, Television serials and Events 3,324 3,837 2,757 3,324 2,757
(c) Unallocated 6,414 7,377 7,238 6,414 7,238
Total Segment Liabilities 35,253 40,383 29,973 35,253 29,973
Saregama India Limited
Registered Office: 33, Jessore Road, Dum Dum, Kolkata - 700 028
web: www.saregama.com, Email id: co.sec@saregama.com, Phone no: 033-2551-2984
CIN:L22213WB1946PLC014346
(Rs. in Lakhs)
Standalone Statement of Assets and Liabilities
As at As at
Sl.
Particulars 31 March 2023 31 March 2022
No.
(Audited) (Audited)
ASSETS
1 Non-current assets
(a) Property, plant and equipment 22,066 21,398
(b) Right-of-use assets 67 126
(c) Investment properties 214 219
(d) Intangible assets 11,426 6,013
(e) Intangible assets under development 405 175
(f) Financial assets
(i) Investments 13,761 16,394
(ii) Other financial assets 5,295 195
(g) Other non-current assets 5,735 2,916
2 Current assets
(a) Inventories 16,643 10,317
(b) Financial assets
(i) Investments 21,236 50,571
(ii) Trade receivables 15,358 10,751
(iii) Cash and cash equivalents 1,797 14,706
(iv) Bank balances other than (iii) above 49,156 17,101
(v) Loans 2,621 2,385
(vi) Other financial assets 2,194 787
(c) Current tax assets (net) 2,480 2,516
(d) Other current assets 11,399 10,586
Liabilities
2 Non-current liabilities
(a) Financial liabilities
(i) Lease liabilities 14 71
(b) Employee benefit obligations 414 367
(c) Deferred tax liabilities (net) 5,478 5,655
Total non-current liabilities 5,906 6,093
3 Current liabilities
(a) Financial liabilities
(i) Lease liabilities 57 59
(ii) Trade payables
a) Total outstanding dues of micro enterprises and small enterprises 3 1
b) Total outstanding dues of creditors other than micro enterprises and small enterprises 5,990 6,163
(iii) Other financial liabilities 5,498 4,090
(b) Other current liabilities 8,593 4,493
(c) Provisions 9,126 9,003
(d) Employee benefit obligations 80 71
(Rs. in Lakhs)
Standalone Statement of Cash Flows
Year ended Year ended
Sl.
Particulars 31 March 2023 31 March 2022
No.
(Audited) (Audited)
Profit Before Tax 24,986 20,199
Net (decrease) / increase in cash and cash equivalents (A+B+C) (12,909) 14,076
Cash and Cash Equivalents at the beginning of the year 14,706 630
Cash and Cash Equivalents at the end of the year 1,797 14,706
Note: The above Standalone Statement of Cash Flow has been prepared under the "Indirect Method" as set out in Ind AS 7 - "Statement of Cash Flows".
NOTES:
1 The aforementioned results for the three months and year ended 31 March 2023 have been reviewed and recommended by the Audit Committee in their meeting held on 19 May 2023 and approved by
the Board of Directors of the Company at their meeting held on even date. These results have been subjected to audit by the Statutory Auditors of the Company who have issued an unmodified audit
report on the standalone annual financial results for the year ended 31 March 2023.
2 Pursuant to the Special Resolution passed by the Shareholders of the Company by way of Postal Ballot through electronic means on 31 March 2022, the Company has sub-divided its equity share of
face value of Rs.10/- (Rs. Ten only) each fully paid up, into 10 (Ten) equity shares of face value Re.1/- (Rupee One only) each fully paid-up, effective from 28 April 2022. Hence, shares have now
been adjusted on account of sub-division of share done by the Company. This has also been considered for calculating weighted average number of equity shares for all periods presented, as per Ind
AS 33- Earnings Per Share.
3 Out of the 53,38,628 equity shares of Rs.10/- each issued for cash at a premium of Rs.35/- (issue price - Rs.45/-) pursuant to the Rights Issue in 2005, allotment of 5,290 equity shares of face value
Rs.10/- each (relating to cases under litigation / pending clearance from concerned authorities) were in abeyance till 31 March 2023. These shares have now been adjusted on account of sub-division of
share done by Company as explained in note 2 above.
4 The figures for the three months ended 31 March 2023 and 31 March 2022 are the balancing figures between audited figures in respect of the full financial year and published year to date figures upto
the end of third quarter of the relevant financial year. The published year to date figures upto the end of third quarter of the relevant financial year were subject to Limited Review.
5 In order to lay specific focus on the e-commerce distribution business of the Company alongwith identified non-core assets (including investment(s) in publication business) and other activities and/ or
arrangements incidental or relating thereto, the Board of the Directors of the Company at its meeting held on 30 March 2022 approved, subject to necessary approvals, Scheme of Arrangement
between the Company and Digidrive Distributors Limited, a wholly owned subsidiary (“Resulting Company”) and their respective shareholders and creditors under Sections 230 to 232 and other
applicable provisions of the Companies Act, 2013 (“Act”) (“Scheme”) which inter alia provides for the demerger, transfer and vesting of the Demerged Undertaking (as defined in the Scheme) from
the Company into the Resulting Company, on a going concern basis. The appointed date being 1 April 2022. Upon implementation of the Scheme, each shareholder of the Company would be entitled
to fully paid shares of the respective companies in the ratio set out in the Scheme. Necessary accounting effect of the Scheme will be given in due course, upon receipt of the requisite approvals.
6 The Board of Directors in their meeting held on 20 January 2023 has declared an interim dividend for the financial year 2022-23 of Rs.3/- per equity share (300% on the face value of Re.1/- each) and
has paid an amount of Rs.5,784.28 Lakhs during the quarter ended 31 March 2023.
7 Based on the guiding principles given in Ind AS 108 on "Operating Segments", the Company's business activity falls within two operating segments, namely:
(a) Music
(b) Films, Television serials and Events
Segment Revenue, Results, Assets and Liabilities represent amounts identifiable to each of the segments. Other "unallocable expenditure net of unallocable income" mainly includes interest income,
expenses on common services not directly identifiable to individual segments and corporate expenses.
Segment Assets and Segment Liabilities are as at 31 March 2023, 31 December 2022 and 31 March 2022. Unallocable corporate assets less unallocable corporate liabilities mainly represent investment
of surplus funds and cash and bank balances.
8 For more details on Results, visit Investor Relations section of our website at http://www.saregama.com and Financial Results under Corporates section of www.nseindia.com and www.bseindia.com.