Transcript of Investor Meet

Music Broadcast Limited (Radio City) reported Q4 FY26 revenue of INR 40.8 crores, down from INR 54 crores in Q4 FY25, reflecting a challenging advertising environment for the radio industry. Despite lower revenues, the company achieved significant margin improvement with operating EBITDA at INR 6.1 crores (15% margin) versus a loss of INR 3.5 crores in the same period last year. For full year FY26, revenue was INR 174 crores (down from INR 234 crores in FY25), but operating EBITDA margins improved to 18% from 17% previously. The company attributed this to organizational restructuring (headcount reduced 20% to 458), technology-driven operational efficiencies, and a hybrid broadcasting model. Management reported that industry volumes declined 2% while the company maintained flat volumes, with market share growing to 17.5%. Digital contributes 8% of revenue while events and activations contribute 22%.