Analysts/Institutional Investor Meet/Con. Call Updates

July 28, 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 I RADIOCITY Scrip Code I 540366 ISIN I INE919I01024 ISIN I INE919I01024 Subject: Transcript of Earnings Call for the Un-Audited Financial Results for the first quarter ended on June 30, 2026 Dear Sir/Ma’am In continuation to our letter dated July 15, 2026, and July 23, 2026, and pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with Part A of Schedule III of the Listing Regulation, the Transcript of Earnings Call held on Thursday, July 23, 2026, at 3:30 p.m. (IST) for discussing financial performance of the Company of the first quarter ended on June 30, 2026, is enclosed herewith. The aforesaid Transcript is also available on the website of the Company https://www.radiocity.in Kindly take the above on your record. Yours Faithfully For Music Broadcast Limited Arpita Kapoor Company Secretary and Compliance Officer Encl: As above RADIO CITV SCHOOL Of' 'I) BROADCASTinG tu....e-,J,"'i"'< 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 FM BOLE TOH RadioCitr)I A JAGRAN INITIATIVE “Music Broadcast Limited Q1 FY27 Earnings Conference Call” July 23, 2026 ~ A JAGRAN INITIATIVE MANAGEMENT: MR. ABRAHAM THOMAS – CHIEF EXECUTIVE OFFICER – MUSIC BROADCAST LIMITED MR. RAJIV SHAH – CHIEF FINANCIAL OFFICER – MUSIC BROADCAST LIMITED Page 1 of 7 Music Broadcast Limited July 23, 2026 Q A JAGRAN INITIATIVE Moderator: Ladies and gentlemen, good day, and welcome to Q1 FY27 Music Broadcast Earnings Conference Call. This conference call may contain forward-looking statements about the company, which are based on the beliefs, opinions and expectations of the company as on date of this call. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict. As a reminder, all participant lines will be in the listen-only mode, and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal the moderator by pressing star then zero on your touchtone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Abraham Thomas, CEO. Thank you, and over to you, sir. Abraham Thomas: Good afternoon, everyone, and welcome to the Q1 FY27 Earnings Conference Call of Music Broadcast Limited. Joining me today is Mr. Rajiv Shah, our Chief Financial Officer. The first quarter of FY27 marked a positive start to the year with the company delivering sequential revenue growth and a significant improvement in profitability. During the quarter, we witnessed improving momentum across our businesses, supported by stronger advertiser engagement, deeper client relationships and continued traction in our integrated offerings. Our core radio business increased to INR35.5 crores from INR34 crores in the previous quarter, while creative business rebounded strongly to INR9.8 crores, reflecting the effectiveness of our diversified revenue strategy and solution-led approach. Sequential growth of 11% to INR44.5 crores was driven by higher advertiser participation and an improved business mix. In addition, our share of top 25 radio spenders increased to 21.8% from 15.6% in quarter 4. Demonstrating our ability to deepen strategic partnerships and expand wallet share of key advertisers. Revenue growth remains our foremost priority. While Q2 is historically a weaker quarter and it has begun on a softer note. We remain focused on disciplined execution, prudent capital allocation and operational efficiencies to support sustained margin expansion and improved profitability. Financial performance of Q1 FY27. Revenue for Q1 FY27 stood at INR44.5 crores compared to INR49.3 crores in Q1 FY26, representing a decline of 10% year-on-year. Sequentially, revenue increased by 9% over quarter 4 FYf26. The sequential recovery in revenues was supported by improved traction in our core radio business, growth in creative business and stronger engagement with strategic clients. The benefits of the company's structural cost optimization initiatives continue to be visible during the quarter with total operating expenses declining by 26% year-on-year to INR35.6 crores. As a result, operating EBITDA improved significantly to INR8.9 crores in Q1 FY27 from INR0.9 crores in the corresponding quarter last year. EBITDA margins expanded to 20% compared to 1.9% in Q1 FY26, reflecting the benefits of structural cost optimization, disciplined expense management and improved operating leverage. Page 2 of 7 Music Broadcast Limited July 23, 2026 Q A JAGRAN INITIATIVE Operating profit before tax stood at INR4.1 crores compared to -- with an operating loss of INR6.9 crores in the corresponding quarter last year. Other income for the quarter stood at INR8.2 crores, resulting in a reported profit before tax of INR12.3 crores. Profit after tax stood at INR9.2 crores compared with a loss of INR2.2 crores in the corresponding period. PAT margin improved to 20.7%, reflecting the strength of the company's operating leverage and disciplined execution. With that, I would now request the moderator to open the floor for questions and answers. Moderator: The first question is from the line of Divyansh Jaju from Trinetra Asset Managers. Divyansh Jaju: So my first question was around any opportunity to improve our operating leverage without purely relying on the revenue, like particularly on which cost maximum potential is there to -- in the next 2, 3 years, it can reduce? Rajiv Shah: Sorry. So what I understand is you are asking, is any further cost savings possible? Am I understanding the question right? Divyansh Jaju: Yes, yes. Rajiv Shah: So I think we have done most of the cost savings, and this should be an optimum level of cost per quarter that you are looking at. Divyansh Jaju: Okay. And my second question was, are you witnessing any meaningful shift in the advertisement spend like the spending which was observed past from like any example, traditional FMCG are now shifting towards more quick commerce or new fintech company, this type of trend has been observed in any type of industry? Abraham Thomas: The pure radio advertising is subdued. And the created business, which is the Radio Plus business is where we are seeing traction. So that mix of spend of the advertiser is slightly shifting. But overall, we believe that the combination of pure radio and Radio plus will help us get to our target. Divyansh Jaju: Okay. And last question is, what percentage of our advertisement contracts are recurring in nature, like the retention has been improved over the last few years? Abraham Thomas: Typically, we -- every quarter, we get about 20% of new business. Which are new businesses are businesses who haven't advertised with us in the last 1 year, but 80% seems to be recurring advertisers. Moderator: The next question is from the line of Tanushi, an individual investor. Tanushi: I have a few questions I would like to ask. Abraham Thomas: Sure. Tanushi: I see there is a significant reduction in the other expenses. What are the reasons? Page 3 of 7 Music Broadcast Limited July 23, 2026 Q A JAGRAN INITIATIVE Rajiv Shah: So major expenses reduction has come from the savings from the studios, which we have shifted to hub and spoke model. So that is one helping us on the premises cost. Second, we have been very consistent on having the marketing expenses, more controlled on the marketing expenses. That are the 2 major savings in the other costs. Mo [Showing first 8,000 characters — download PDF for full document]