Outcome of Board Meeting

July 22, 2026 National Stock Exchange of India Limited BSE Limited Exchange Plaza, 5th Floor Corporate Relationship Department Plot No. C/1, G Block; Bandra (East) Phiroze Jeejeebhoy Towers Mumbai 400 051 Dalal Street; Fort, Mumbai 400 001 Scrip Code RADIOCITY Scrip Code 540366 ISIN INE919I01024 ISIN INE919I01024 Dear Sir/ Madam, Sub: Outcome of the Board Meeting of the Company held on July 22, 2026 Ref: Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”) In continuation of our letter dated July 10, 2026, we wish to inform you that the Board of Directors of the Company, at its meeting held today, has inter alia- 1. Approved the Un-Audited Financial Results for the first quarter ended June 30, 2026, as recommended by the Audit Committee. Pursuant to Regulation 33 read with Part B of Schedule III of the Listing Regulations, we enclose the following: i. Un-Audited Financial Results for the quarter ended June 30, 2026, is attached herewith as Annexure During the previous financial year, the Company redeemed all its outstanding Non-Convertible Redeemable Preference Shares (NCRPS) on January 19, 2026. Consequently, no listed non-convertible securities were outstanding as on June 30, 2026, and, accordingly, the disclosure requirements applicable to listed non-convertible securities under Regulation 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 are not applicable to the Company for the quarter ended June 30, 2026. ii. M/s. S.N. Dhawan & Co. LLP, Chartered Accountants, Statutory Auditors of the Company, have issued a Limited Review Report on the above-mentioned Un-Audited Financial Results, enclosed herewith as Annexure B. The above information are also being made available at the website of the Company i.e. www.radiocity.in. The meeting of the Board of Directors commenced at 02:30 P.M. and concluded at 04:30 P.M. Yours Faithfully, For Music Broadcast Limited Arpita Kapoor Company Secretary & Compliance Officer Encl: As above CIN: L64200MH1999PLC137729, Music Broadcast Limited | Register office: 5th Floor, RNA Corporate Park, Off Western Express Highway, Kalanagar, Bandra (E), Mumbai - 400051. | Tel: +91 22 66969100 | Fax: +91 22 26429113 | Website: www. radiocity.in ANNEXURE A MUSIC BROADCAST LIMITED (CIN L64200MH1999PLC137729) Regd. Office: 5th Floor, RNA Corporate Park, Off. Western Express Highway, Kalanagar, iifliit Sandra (East), Mumbai -400051. Tel No.+91 22 66969100 Website : www.radiocity.in A JA.GRANJ INI IUIVE STATEMENT OF UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE 30, 2026 (f in lakhs, except per share data) Quarter ended Quarter ended Quarter ended Year ended SI. June 30, 2026 March 31, 2026 June 30, 2025 March 31, 2026 Particulars No. Unaudited Audited Unaudited Audited Refer Note 8 1 Income (a) Revenue from operations 4,454.32 4,079.14 4,932.45 17,443.25 (b) Other income 820.09 456.00 701.67 2,675.44 Total income 5,274.41 4,535.14 5,634.12 20,118.69 2 Expenses (a) License fees 487.61 479.51 490.64 1,933.79 (b) Employee benefit expense 1,224.92 1,247.84 1,824.99 6,036.46 (c) Depreciation and amortisation expense 407.69 663.58 707.53 2,756.53 (d) Impairment of non-current assets (Refer note no 7) 4,900.00 4,900.00 (e) Net impairment losses on financial assets 25.00 4.23 24.98 90.07 (f) Other expenses 1,824.65 2,196.46 2,497.98 8,926.01 (g) Finance costs 72.19 123.75 305.98 1,040.90 Total expenses 4,042.06 9,615.37 5,852.10 25,683.76 3 Profit/(loss) before tax (1-2) 1,232.35 (5,080.23) (217.98) (5,565.07) 4 Tax expense/( credit) (a) Current tax 173.07 - - - (b) Deferred tax 137.03 (284.64) (0.56) (232.66) Total tax expense 310.10 (284.64) (0.56) (232.66) 5 Profit/(loss) for the period (3-4) 922.25 (4,795.59) (217.42) (5,332.41) 6 Other comprehensive income, net of income tax A Items that will not be reclassified to profit or loss - (13.67) - 93.05 B Items that will be reclassified to profit or loss - - - - Total other comprehensive income/(loss), net of income tax (13.67) 93.05 7 Total comprehensive income/(loss) for the period (5-6) 922.25 (4,809.26) (217.42) (5,239.36) 8 Paid-up equity share capital (face value of~ 2 each) 6,913.71 6,913.71 6,913.71 6,913.71 9 Other equity 37,620.60 10 Earnings per share (face value of~ 2 each) (not annualised) ,,,.<: I: ~ -Basic and Diluted !/~ ~- 0.27 (1.39) (0.06) (1.54) Notes: 1 These financial results have been prepared in accordance with Indian Accounting Standards (Ind AS) as prescribed under Section 133 of the Companies Act, 2013 read with Rule 3 of the Companies (Indian Accountina Standards) Rules 2015 and relevant amendments thereafter. 2 The above financial results for quarter ended June 30, 2026 have been reviewed by the Audit Committee and approved by the Board of Directors on July 22, 2026. 3 The Company is engaged primarily in the business of operating private FM radio stations, which constitutes single reportable segment. Accordingly, the Company is single segment company in accordance with Indian Accounting Standard 108 "Operating Segments''. 4 During the year ended March 31, 2026, pursuant to the enactment of the Finance Act, 2026 (amending the Income-tax Act, 2025), the Company reassessed the recoverability of deferred tax assets, including MAT credit entitlement, considering revised MAT utilisation restrictions, projected taxable profits, expected utilisation period and anticipated transition to the concessional tax regime. Based on such reassessment, the Company derecognised MAT credit entitlement of~ 1,032 lakhs to the extent considered no longer recoverable in the financial results for the quarter and year ended March 31, 2026. 5 A petition under sections 241, 242 and 244 of the Companies Act, 2013 has been filed with the National Company Law Tribunal (NCL T), Allahabad Bench, on July 10, 2023, by Mr. Mahendra Mohan Gupta (Non-Executive Chairman and Promoter of Jagran Prakashan Limited, the Holding Company) and Mr. Shailesh Gupta (Whole-Time Director and member of the Promoter Group of the Holding Company and Non-Executive Director of the Company) in their individual capacities, against the other promoters and members of the Promoter Group of the Holding Company. The matter is currently pending before the NCL T and various submissions have been made by the respective parties. Subsequently, the Holding Company received special notices and requisitions from Jagran Media Network Investment Private Limited, a shareholder of Holding Company seeking convening of an Extraordinary General Meeting ("EGM") under the provisions of the Companies Act, 2013 to consider resolutions for removal of certain directors of the Holding Company. While the resolutions were passed at the EGM. the National Company Law Appellate Tribunal ("NCLAT") has directed that the implementation of such resolutions shall remain in abeyance pending adjudication of the aforesaid petitions by the NCL T. Based on the current status of the proceedings and assessment by the management, the Company does not anticipate any material adverse impact of these matters on its financial position as at June 30, 2026 and its future operations. 6 During the year ended March 31, 2024, in the matter of the Company vs Phonographic Performance Limited ('PPL') and other music providers, the Hon'ble High Court of Judicature at Madras partly allowed the appeal of PPL and other appellants by providing a 'minimum floor rate' of ~ 660 per needle hour payable to PPL and other appellants for the use of their sound recordings by the Company over its radio stations in the past decade 2010-2020. The Company has filed a Special Leave Petition before the Hon'ble Supreme Court of India challenging the High Court judgement. Further, PPL had filed a contempt petition against the Company and its directors and KMPs with the High Court of Judicature at Madras, alleging contempt of the order dated April 27, 2023, which [Showing first 8,000 characters — download PDF for full document]