Annual Report for the FY 2025-26

August 05, 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: Notice of the 27th Annual General Meeting of the Members of Music Broadcast Limited along with the Annual Report for the Financial Year 2025-26. Dear Sir/Ma’am, Pursuant to Regulation 30 read with Schedule III Part A Para A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, attached herewith is the Notice along with Explanatory Statement of the 27th Annual General Meeting ("AGM") of the Company to be held on Wednesday, September 02, 2026 at 1:00 p.m. (IST) through Video Conferencing ("VC") / Other Audio- Visual Means ("OAVM"). The said Notice forms part of the Annual Report 2025-26. In compliance with the circulars issued by MCA and SEBI, the Notice and the Annual Report for the financial year 2025-26 is being sent electronically to all the Members whose email addresses are registered with the Company/ Registrar and Share Transfer Agent/Depository Participant(s). Further, pursuant to Regulation 36(1)(b) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, a letter providing the web-link of the Annual Report, have been sent to those Members(s) who have not registered their e-mail addresses and is also available on Company’s website at www.radiocity.in. The aforesaid Notice of Annual General Meeting is available on the Company's website at https://www.radiocity.in/investors/annual-reports. This is for your information and records. Thanking you, For Music Broadcast Limited Arpita Kapoor Company Secretary and Compliance Officer Encl: As above RADIO CITY )~ SCHOOL or 'I} BROADCASTlnG t...,.,,._;J,..,.,.,. 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 1:41 RESET. READY FOR NEXT. (cid:31)(cid:30)(cid:30)(cid:29)(cid:28)(cid:27)(cid:26)(cid:25)(cid:24)(cid:23)(cid:22)(cid:21)(cid:20)(cid:26)(cid:19)(cid:18)(cid:19)(cid:17)(cid:16)(cid:19)(cid:15)(cid:26) stnetnoC Radio continues to offer unmatched local reach, credibility and community engagement. The future of the industry lies in integrating traditional radio strengths with digital innovation, data-driven marketing solutions and diversified revenue streams. Prelude Operational Progress 02 Cover Story 50 Human Resource 04 Our Presence 52 Information Technology 06 Megatrends 54 Administration and Commercial 08 Rebound Strategy 56 Corporate Social Responsibility 57 Team of RJs 58 Board of Directors 59 Awards and Recognitions 60 Corporate Information Our World 10 About Us 12 Business Model 14 Chairman’s Insight Statutory Reports 16 Key Performance Indicators 62 Directors’ Report 82 Report on Corporate Governance 112 Management Discussion and Analysis Connecting with Campaigns Financial Statements 18 Digital Campaigns 22 Hyperlocal Campaigns 117 Independent Auditor's Report 128 Balance Sheet 129 Statement of Profit and Loss 130 Statement of Cash Flows 132 Statement of Changes in Equity 134 Notes to the Financial Statements Scan this QR code to know more Notice 179 Notice of 27th Annual General Meeting Where stories, music and voices come alive with purpose. As India’s leading private FM network, we connected millions through engaging content, strong local relevance and integrated platforms, shaping meaningful experiences for listeners, brands and communities across a vibrant, evolving media landscape. Welcome to Radio City Our Reach Our Strategy Our Impact Across India’s diverse cities, In a landscape crowded by We connected with 69 we blended local culture algorithms and repetitive million listeners across into compelling IPs. With digital loops, we prioritised India, amplifying voices, 39 stations in 12 states, the human touch, creating strengthening engagement, we reached 62% of the original, relatable and and delivering content that FM population, delivering emotionally engaging content. resonated deeply across relevant and engaging As platforms expanded and diverse audiences. content nationwide. advertisers sought meaningful reach, our strategy focused on connecting stakeholders while optimising value for each. Page 04 Page 08 Page 18 Reset. Ready for Next. COVER STORY What worked yesterday in media proves inadequate for today’s pace of change. This clarity was reflected in full force this year across our operations, as we strengthened our fundamentals and reset our approach. The focus was on building a structure that is sharper, more agile and efficient, while staying in step with shifting consumption patterns and rising advertiser expectations. Amidst the sweeping transitions taking place within the ecosystem, radio remained our strongest asset, steeped deep in listener loyalty and trust. Reset. Ready for Next. Music Broadcast Limited Corporate Overview Statutory Reports Financial Statements G With its wide reach and efficient economics, it maintained scalability notwithstanding industry dynamics. We fortified this core further by improving structural efficiencies and tightening operating discipline. Operational Expanse Alongside, we expanded our play across digital, social media, podcasts and on-ground platforms. Investments in AI-led formats and integrated influencer solutions amped up our ability to boost engagement 18% 71% with our listener base while maintaining cost prudence. These calibrated moves helped us stay Volume market share Inventory utilisation relevant and shape a more balanced, sustainable growth path. As we move forward, our focus on a multi-platform audio ecosystem 44% 32% only intensifies. By integrating on-air programming with digital storytelling, social connect and experiential Client count share in the Share of new client intellectual properties, we craft radio industry acquisitions in Radio City narratives that truly vibe. Supported by strong RJ influence and sharp market insights, this approach widens our footprint and unlocks richer 6% 11% brand partnerships. For us, therefore, reset is multi- Revenue through satellite Revenue from international directional; a continuous realignment locations and national IPs, big-ticket that culminates into consistency and campaigns, CI, local and competitive edge. Connecting India’s urban centres and regional hubs with regional initiatives and powerful content, we tap deep into festive campaigns hyperlocal presence, read shifts as they happen and remain ready for what’s next. Revenue from digital channels, including social media, website, influencers and third-party tie-ups Annual Report 2025-26 Reset. Ready for Next. OUR PRESENCE Each city across India’s diverse landscape has its own story, woven in its heritage, culture and flavour. We, at Radio City, blend these distinct identities into our platforms, creating IPs that resonate across the vast dynamic landscape of our country, yet stay connected to the very audience it has been curated for . Our network speaks to the thriving metros and bustling regional hubs, shaping narratives steeped in relevance and ethos. Reshaping Hyperlocal Storytelling. Punjab Haryana Jharkhand Jalandhar Hisar Jamshedpur Known for its sports goods industry A growing educational and India’s first planned industrial city and high-energy Punjabi music agricultural hub; we bring blends enterprise with culture; scene; we echo this vibrant rhythm entertainment and connection to its we keep listeners plugged into its on our airwaves. evolving urban audience. entertainment and community stories. Patiala Karnal Ranchi The birthplace of the famed Known for its agricultural research Known as the ‘City o [Showing first 8,000 characters — download PDF for full document]