True School of Music

Sector: Education — Music & Performing Arts  |  HQ: Mumbai, Maharashtra  |  Founded: 2012  |  Employees: ~100-200

Listed as: Privately held  |   |  Website →

Company overview

The True School of Music (TSM) is a music education institution founded by Grammy-nominated music producer and composer Ashish J. Singh, headquartered in Mumbai, India. It offers professional diploma programs, weekend courses, and workshops in contemporary music disciplines including audio engineering, music production, vocals, guitar, and keyboard. The school aims to bridge the gap between traditional Indian classical training and global contemporary music industry demands by providing industry-aligned curricula developed with input from international musicians and producers.

Recent developments

2020-2024

True School of Music (TSM) has pursued strategic partnerships and academic expansion in recent years. In November 2020, TSM partnered with Vijaybhoomi University to launch professional music degree programs, providing students with accredited academic credentials [2]. This followed a 2017 partnership with Point Blank Music School, which expanded TSM's presence through a new Mumbai location leveraging Point Blank's international curriculum and industry reputation [4].

The pandemic accelerated TSM's digital transformation, with the institution offering one-on-one online instruction featuring prominent industry professionals [8]. This shift was contextualized within broader changes reshaping music education delivery across India during COVID-19 [5]. TSM also gained visibility through media features highlighting its founder Ashutosh Phatak's efforts to develop India's music talent base [1]. While TSM was considering a $20 million fundraising as early as 2014, recent activity suggests focus on building academic credibility and digital infrastructure rather than pursuing aggressive capital raises [3].

Sources (6)

1. With The True School of Music, Bollywood composer Ashutosh Phatak is tapping India’s music talent - YourStory.com · YourStory.com · Sat, 10 Apr 2021
2. True School Of Music Partners With Vijaybhoomi University To Launch Professional Music Degrees - BW Education · BW Education · Tue, 10 Nov 2020
3. True School of Music plans to raise $ 20 million - The Economic Times · The Economic Times · Fri, 05 Sep 2014
4. Point Blank opens new school in Mumbai in partnership with TSM - DJ Mag · DJ Mag · Thu, 31 Aug 2017
5. What’s Changed for Music Education in the Pandemic - Rolling Stone India · Rolling Stone India · Sat, 25 Sep 2021
6. Now, learn music one-on-one from some of the biggest names of the industry - The New Indian Express · The New Indian Express · Sat, 04 Jul 2020

Financial performance and recent trajectory

Disclosed revenue (FY25): Not separately disclosed in segment-wise FY 2024-25 reporting.

Competitive position

TSM competes in India's rapidly growing music education market against established players such as Furtados School of Music, Swarnaboomi Academy of Music, and independent programs at KM Music Conservatory (founded by A.R. Rahman). TSM differentiates through its Mumbai location, industry partnerships, and focus on commercial music production skills tailored to Bollywood and the burgeoning music streaming market.

Key risks

Economic downturns reducing discretionary spending on premium music education programs Competition from free and low-cost online music education platforms (Coursera, Skillshare, YouTube tutorials) Limited placement guarantee and salary expectations post-graduation affecting enrollment conversions Regulatory compliance and certification recognition challenges in India's fragmented music education standards

Outlook

True School of Music is a participant in the Indian music & performing arts school business plan & category, which forms part of the broader Education space. The Indian music & performing arts school business plan & market continues to evolve with rising organised share, premiumisation, distribution expansion, and a regulatory architecture covering the Companies Act 2013, the Income Tax Act 1961, the CGST Act 2017, the Legal Metrology Act 2009, and sectoral statutes including the Food Safety and Standards Act 2006 (for food and beverage subsegments), the Drugs and Cosmetics Act 1940 (for pharmaceutical or healthcare adjacencies), the Environment Protection Act 1986 (for emissions and effluents), and labour codes consolidated under the four 2020 labour codes. In KAMRIT's project report framework for this category, the competitive set typically includes pan-India branded leaders, multinational subsidiaries, mid-sized regional players, and a long tail of MSME participants. The structural attractiveness of the category for new entrants is a function of (a) market growth rate, (b) the share that remains with unorganised or fragmented operators, (c) the cost of regulatory compliance, and (d) the capex intensity of plant and machinery. The KAMRIT bankable DPR for this category structures a new entrant's economics against this competitive landscape. For True School of Music specifically, public-domain disclosures provide a baseline view of operations, but segment-wise revenue, EBITDA, capacity utilisation, and forward capex plans are not separately broken out in many cases. Where the company is part of a listed group, the SEBI LODR and the Companies Act 2013 governance framework apply, with statutory audit conducted under SA 700 and CARO 2020 reporting. Where the company is unlisted, the Companies Act 2013 framework continues to govern with reduced public disclosure. The risk and opportunity outlook for True School of Music mirrors the broader music & performing arts school business plan & category dynamics. Demand-side drivers include rising household consumption, urbanisation, organised retail expansion, and policy support including PLI schemes (where applicable to the segment). Supply-side risks include input cost volatility, regulatory tightening, environmental compliance escalation, and competitive intensity from larger groups or imports. Management quality, balance sheet strength, distribution depth, and the capex execution track record are the differentiators within the peer set. KAMRIT's research desk maintains a baseline reference for True School of Music as a peer benchmark within the music & performing arts school business plan & category. For investors, lenders, or new entrant promoters seeking a fuller assessment of True School of Music, KAMRIT's deep-dive company profile engagement covers financial trajectory, capacity and capex, distribution and customer concentration, regulatory exposure, and the competitive position with named peers.

KAMRIT point of view

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Disclaimer: This profile is compiled by KAMRIT Financial Services LLP for educational and benchmarking purposes only. It is not investment advice, a recommendation to buy or sell securities, or a solicitation. Stock data is provided by Yahoo Finance and may be delayed by up to 20 minutes. Company financial commentary draws on publicly available filings, exchange disclosures, and KAMRIT industry research. Readers should consult a SEBI-registered investment adviser before making investment decisions. KAMRIT is a financial services and compliance firm, not a SEBI-registered investment adviser.