Music Broadcast Limited has reported its Financial Results for the quarter and year ended March 31st, 2022.
The company maintained a strong position with 20% Volume Market Share in Q4 FY22. The top line recorded Rs. 46.0 crores with 8% Growth YoY and EBITDA at Rs. 6.1 crores with a margin of 13.3%.
FY22 Top line recorded Rs. 168.4 Crores with 32% growth YoY, Positive EBITDA at Rs. 27.8 crores with a margin of 16.5%
Commenting on the results, Shailesh Gupta, Director said, “The festive season led to some recovery in Radio Adex, which flowed into this quarter too, and we expect this to grow significantly in FY23. The adoption of Digitization in the audio space has opened up many opportunities for consumers and advertisers. Audiences today are looking for some great audio content on digital platforms, which is likely to attract more brands to leverage the convergence of Radio and Digital – a phenomenon that we internally refer to as “Radigitalization”.
He further added, “The opening up of the country and return of advertising spending has provided just the shot in the arm to build upon the relentless efforts in the previous few quarters towards becoming a more efficient, robust, and resilient organization. This combined with the successful cost optimization measures deployed internally and the benefits of operating leverage kicking in overtime have helped us reduce our losses drastically for the quarter and even annually.”
“New revenue initiatives have begun to account for a significant chunk of our overall topline, accounting for 32% of the revenue this quarter, with clear indications that they are sustainable and will continue to drive steady growth going forward as well. The company has stayed true to its underlying belief of maintaining a strong liquidity position as a war chest to weather any storm and capitalize on exciting opportunities with cash reserves, standing at Rs. 264 crores, as on 31st March 2022,” he said.
“Regarding the bonus issue of the non-convertible non-cumulative preference shares, as per the directions of the Hon’ble NCLT, the meeting of the Equity Shareholders and Creditors of the Company is scheduled to be held on Thursday, June 23, 2022, to consider and if thought fit, with or without modifications, approve the Scheme,” Gupta concluded.