Concall Transcript

Music Broadcast Limited (Radio City) reported Q4 FY26 revenue of INR 40.8 crores, down from INR 54 crores in Q4 FY25, impacted by subdued advertising sentiment. Despite the revenue decline, operating EBITDA turned positive at INR 6.1 crores (15% margin) versus a loss of INR 3.5 crores in Q4 FY25, driven by cost restructuring and operational efficiencies. The company completed an organization restructuring in Q2, reducing headcount by 20% to 458 employees. For full year FY26, revenue was INR 174 crores (vs INR 234 crores in FY25), but EBITDA margin improved to 18% from 17% in FY25. Management stated most cost efficiencies have been implemented and they are integrating AI into operations, including an AI RJ for client integrations. Digital revenue currently comprises 8% of the mix, while non-FCT (events/activations) contributes 22% of revenue.