TIPSMUSIC

: Guidance -- Concall Update

• Management maintains its 20% revenue and PAT growth guidance for the year. • The annual EBITDA margin is expected to be in the range of 65% to 70%, despite potential quarterly aberrations from content releases. • The overall content budget for the year is projected to be INR90 crore to INR100 crore, with a long-term target of 20% to 25% of revenue. • The company is committed to distributing last year's PAT of INR217 crores this year via dividends and buybacks. • While the industry is expected to grow in single digits, the company maintains its 20% revenue guidance due to strong content performance and catalog strength.