New Risk • Jun 09
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 0.4% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.8x net interest cover). Share price has been highly volatile over the past 3 months (10% average weekly change). Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (5.1% net profit margin). Reported Earnings • May 31
Full year 2026 earnings released: EPS: ₹0.60 (vs ₹1.73 in FY 2025) Full year 2026 results: EPS: ₹0.60 (down from ₹1.73 in FY 2025). Revenue: ₹3.17b (down 13% from FY 2025). Net income: ₹156.7m (down 63% from FY 2025). Profit margin: 4.9% (down from 12% in FY 2025). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 71% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • May 25
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹45.38, the stock trades at a trailing P/E ratio of 32.1x. Average trailing P/E is 27x in the Entertainment industry in India. Total returns to shareholders of 375% over the past three years. Announcement • May 22
Panorama Studios International Limited to Report Q4, 2026 Results on May 30, 2026 Panorama Studios International Limited announced that they will report Q4, 2026 results at 12:15 PM, Indian Standard Time on May 30, 2026 New Risk • May 16
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₹9.58b (US$99.8m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (9.9% average weekly change). Market cap is less than US$100m (₹9.58b market cap, or US$99.8m). Valuation Update With 7 Day Price Move • Apr 13
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₹44.89, the stock trades at a trailing P/E ratio of 31.7x. Average trailing P/E is 33x in the Entertainment industry in India. Total returns to shareholders of 470% over the past three years. New Risk • Mar 27
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₹9.43b (US$99.5m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (9.7% average weekly change). Minor Risk Market cap is less than US$100m (₹9.43b market cap, or US$99.5m). New Risk • Mar 15
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Indian stocks, typically moving 9.1% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. This is currently the only risk that has been identified for the company. Reported Earnings • Feb 16
Third quarter 2026 earnings released: ₹0.02 loss per share (vs ₹0.089 profit in 3Q 2025) Third quarter 2026 results: ₹0.02 loss per share (down from ₹0.089 profit in 3Q 2025). Revenue: ₹302.7m (down 13% from 3Q 2025). Net loss: ₹3.98m (down 119% from profit in 3Q 2025). Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 80% per year, which means it is well ahead of earnings. Announcement • Feb 07
Panorama Studios International Limited to Report Q3, 2026 Results on Feb 14, 2026 Panorama Studios International Limited announced that they will report Q3, 2026 results at 3:30 PM, Indian Standard Time on Feb 14, 2026 New Risk • Jan 29
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (26% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (8.2% average weekly change). Valuation Update With 7 Day Price Move • Jan 29
Investor sentiment improves as stock rises 28% After last week's 28% share price gain to ₹46.26, the stock trades at a trailing P/E ratio of 30.6x. Average trailing P/E is 28x in the Entertainment industry in India. Total returns to shareholders of 505% over the past three years. New Risk • Dec 12
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 6.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (26% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (6.9% average weekly change). Valuation Update With 7 Day Price Move • Dec 09
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₹41.60, the stock trades at a trailing P/E ratio of 27.5x. Average trailing P/E is 29x in the Entertainment industry in India. Total returns to shareholders of 265% over the past three years. Reported Earnings • Nov 17
Second quarter 2026 earnings released: EPS: ₹0.28 (vs ₹0.87 in 2Q 2025) Second quarter 2026 results: EPS: ₹0.28 (down from ₹0.87 in 2Q 2025). Revenue: ₹812.4m (down 2.3% from 2Q 2025). Net income: ₹20.4m (down 66% from 2Q 2025). Profit margin: 2.5% (down from 7.2% in 2Q 2025). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has increased by 75% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Nov 08
Panorama Studios International Limited to Report Q2, 2026 Results on Nov 14, 2025 Panorama Studios International Limited announced that they will report Q2, 2026 results at 12:15 PM, Indian Standard Time on Nov 14, 2025 Valuation Update With 7 Day Price Move • Oct 13
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹205, the stock trades at a trailing P/E ratio of 35.2x. Average trailing P/E is 35x in the Entertainment industry in India. Total returns to shareholders of 605% over the past three years. Announcement • Oct 01
Panorama Studios International Limited Approves Dividend for the Financial Year 2024-25 Panorama Studios International Limited announced that at the AGM held on September 30, 2025, approved and confirmed the payment of declared dividend INR 0.20/- per share on each fully paid- up Equity shares of INR 2/- face value for the financial year 2024-25. Declared Dividend • Sep 10
Dividend of ₹0.20 announced Dividend of ₹0.20 is the same as last year. Ex-date: 23rd September 2025 Payment date: 30th October 2025 Dividend yield will be 0.1%, which is lower than the industry average of 1.1%. Announcement • Sep 08
Panorama Studios International Limited, Annual General Meeting, Sep 30, 2025 Panorama Studios International Limited, Annual General Meeting, Sep 30, 2025, at 15:00 Indian Standard Time. Reported Earnings • Aug 08
First quarter 2026 earnings released: EPS: ₹0.72 (vs ₹0.53 in 1Q 2025) First quarter 2026 results: EPS: ₹0.72 (up from ₹0.53 in 1Q 2025). Revenue: ₹1.38b (up 274% from 1Q 2025). Net income: ₹51.1m (up 40% from 1Q 2025). Profit margin: 3.7% (down from 9.9% in 1Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has increased by 97% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Aug 04
Panorama Studios International Limited to Report Q1, 2026 Results on Aug 07, 2025 Panorama Studios International Limited announced that they will report Q1, 2026 results on Aug 07, 2025 Board Change • Jul 03
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 6 experienced directors. No highly experienced directors. 3 independent directors (4 non-independent directors). Non-Executive Independent Director Vinesh Shah was the last independent director to join the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Jun 03
Full year 2025 earnings released: EPS: ₹6.04 (vs ₹6.08 in FY 2024) Full year 2025 results: EPS: ₹6.04. Revenue: ₹3.68b (down 16% from FY 2024). Net income: ₹418.7m (up 9.9% from FY 2024). Profit margin: 11% (up from 8.7% in FY 2024). The increase in margin was driven by lower expenses. Announcement • Jun 02
Panorama Studios International Limited Proposes Dividend for the Year Ended March 31, 2025 Panorama Studios International Limited at the Board Meeting held on 02 June 2025, the Board approved dividend @ 10% on face value of equity share INR 0.20 on each fully paid-up equity shares of the company, for the year ended March, 31, 2025 subject to the approval of the shareholders' approval at the ensuing Annual General Meeting of the company. Announcement • May 21
Panorama Studios International Limited to Report Q4, 2025 Results on May 30, 2025 Panorama Studios International Limited announced that they will report Q4, 2025 results on May 30, 2025 New Risk • Mar 18
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Feb 24
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to ₹210, the stock trades at a trailing P/E ratio of 37.9x. Average trailing P/E is 48x in the Entertainment industry in India. Total returns to shareholders of 1,567% over the past three years. Reported Earnings • Feb 15
Third quarter 2025 earnings released: EPS: ₹0.31 (vs ₹0.55 in 3Q 2024) Third quarter 2025 results: EPS: ₹0.31 (down from ₹0.55 in 3Q 2024). Revenue: ₹346.5m (up 2.1% from 3Q 2024). Net income: ₹21.3m (down 37% from 3Q 2024). Profit margin: 6.1% (down from 10.0% in 3Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 57% per year but the company’s share price has increased by 149% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Feb 05
Panorama Studios International Limited to Report Q3, 2025 Results on Feb 13, 2025 Panorama Studios International Limited announced that they will report Q3, 2025 results on Feb 13, 2025 Valuation Update With 7 Day Price Move • Jan 09
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ₹178, the stock trades at a trailing P/E ratio of 31.2x. Average trailing P/E is 44x in the Entertainment industry in India. Total returns to shareholders of 1,415% over the past three years. Reported Earnings • Nov 21
Second quarter 2025 earnings released: EPS: ₹0.87 (vs ₹0.50 in 2Q 2024) Second quarter 2025 results: EPS: ₹0.87 (up from ₹0.50 in 2Q 2024). Revenue: ₹831.1m (up 55% from 2Q 2024). Net income: ₹59.7m (up 93% from 2Q 2024). Profit margin: 7.2% (up from 5.8% in 2Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 73% per year but the company’s share price has increased by 166% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Nov 09
Panorama Studios International Limited to Report Q2, 2025 Results on Nov 14, 2024 Panorama Studios International Limited announced that they will report Q2, 2025 results on Nov 14, 2024 Valuation Update With 7 Day Price Move • Oct 14
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₹243, the stock trades at a trailing P/E ratio of 44.2x. Average trailing P/E is 37x in the Entertainment industry in India. Total returns to shareholders of 1,774% over the past three years. Valuation Update With 7 Day Price Move • Sep 20
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹206, the stock trades at a trailing P/E ratio of 37.4x. Average trailing P/E is 35x in the Entertainment industry in India. Total returns to shareholders of 1,480% over the past three years. New Risk • Sep 19
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (8.2% average weekly change). Shareholders have been diluted in the past year (10% increase in shares outstanding). Announcement • Sep 09
Panorama Studios International Limited, Annual General Meeting, Sep 30, 2024 Panorama Studios International Limited, Annual General Meeting, Sep 30, 2024, at 14:30 Indian Standard Time. Reported Earnings • Aug 16
First quarter 2025 earnings released: EPS: ₹2.67 (vs ₹0.65 in 1Q 2024) First quarter 2025 results: EPS: ₹2.67. Revenue: ₹368.9m (down 49% from 1Q 2024). Net income: ₹36.5m (down 9.9% from 1Q 2024). Profit margin: 9.9% (up from 5.6% in 1Q 2024). The increase in margin was driven by lower expenses. Announcement • Aug 08
Panorama Studios International Limited to Report Q1, 2025 Results on Aug 14, 2024 Panorama Studios International Limited announced that they will report Q1, 2025 results on Aug 14, 2024 Announcement • Aug 06
Panorama Studios International Limited Announces Resignation of Anant Chourasia as Independent Director Panorama Studios International Limited announced resignation of Mr. Anant Chourasia as Independent Director of the Company, with immediate effect on August 01, 2024. Valuation Update With 7 Day Price Move • Jul 31
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₹247, the stock trades at a trailing P/E ratio of 44.5x. Average trailing P/E is 41x in the Entertainment industry in India. Total returns to shareholders of 1,227% over the past three years. New Risk • Jul 30
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₹3.09b (US$36.9m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (36% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Shareholders have been diluted in the past year (10% increase in shares outstanding). Market cap is less than US$100m (₹3.09b market cap, or US$36.9m). Announcement • Jun 01
Panorama Studios International Limited Recommends the Dividend for the Year Ended March, 31, 2024 Panorama Studios International Limited at its meeting held on 31 May, 2024 recommended the dividend @ 10% on face value of equity share i.e. INR 1 on each fully paid-up equity shares of the company, for the year ended March, 31, 2024 subject to the approval of the shareholders at the upcoming Annual General Meeting. Announcement • May 23
Panorama Studios International Limited to Report Q4, 2024 Results on May 30, 2024 Panorama Studios International Limited announced that they will report Q4, 2024 results on May 30, 2024 Valuation Update With 7 Day Price Move • Apr 09
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹1,006, the stock trades at a trailing P/E ratio of 79.9x. Average trailing P/E is 33x in the Entertainment industry in India. Total returns to shareholders of 1,953% over the past three years. Buy Or Sell Opportunity • Apr 09
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 113% to ₹1,006. The fair value is estimated to be ₹837, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 61% over the last 3 years. Earnings per share has grown by 73%. Announcement • Apr 05
Panorama Studios International Limited Announces Cessation of Khushboo Vasudev as Independent Director Panorama Studios International Limited announced that Mrs. Khushboo Vasudev (DIN- 08415000) has ceased to be Independent Director of the Company effective from the close of business hours on 05th April 2024, consequent to end of her five years term as an Independent Director. The Board of Directors of the Company has placed on record its appreciation for the valuable contributions and guidance provided by Mrs. Khushboo Vasudev during her tenure. New Risk • Mar 03
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 8.0% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks High level of debt (54% net debt to equity). Shareholders have been diluted in the past year (8.0% increase in shares outstanding). Valuation Update With 7 Day Price Move • Feb 29
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₹918, the stock trades at a trailing P/E ratio of 68x. Average trailing P/E is 45x in the Entertainment industry in India. Total returns to shareholders of 1,988% over the past three years. Reported Earnings • Feb 15
Third quarter 2024 earnings released: EPS: ₹2.74 (vs ₹15.96 in 3Q 2023) Third quarter 2024 results: EPS: ₹2.74 (down from ₹15.96 in 3Q 2023). Revenue: ₹339.2m (down 73% from 3Q 2023). Net income: ₹34.0m (down 83% from 3Q 2023). Profit margin: 10.0% (down from 16% in 3Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 74% per year but the company’s share price has increased by 166% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Feb 07
Panorama Studios International Limited to Report Q3, 2024 Results on Feb 14, 2024 Panorama Studios International Limited announced that they will report Q3, 2024 results on Feb 14, 2024 Valuation Update With 7 Day Price Move • Jan 31
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹593, the stock trades at a trailing P/E ratio of 15.8x. Average trailing P/E is 44x in the Entertainment industry in India. Total returns to shareholders of 1,439% over the past three years. New Risk • Jan 17
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks High level of debt (54% net debt to equity). Share price has been volatile over the past 3 months (7.5% average weekly change). Market cap is less than US$100m (₹6.14b market cap, or US$73.9m). Announcement • Dec 29
Panorama Studios International Limited announced that it expects to receive INR 379.5585 million in funding Panorama Studios International Limited announced a private placement of up to 1,000,000 equity shares at a price of INR 274 per share and up to to 1,541,000 equity warrants at a price of 68.5 per warrant for the total gross proceeds of INR 379,558,500 on December 28, 2023. The securities will be issued on preferential basis. The transaction has been approved by the shareholders of the company. The warrants will be converted in to equity shares within 18 months from the date of allotments of warrants at an exercise price of INR 205.5. Valuation Update With 7 Day Price Move • Dec 27
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹312, the stock trades at a trailing P/E ratio of 8.3x. Average trailing P/E is 40x in the Entertainment industry in India. Total returns to shareholders of 497% over the past three years. Announcement • Dec 05
Panorama Studios International Limited Announces Appointment of Yatin Vilas Chaphekar as Whole Time Company Secretary and Compliance Officer Panorama Studios International Limited informed that Mr. Yatin Vilas Chaphekar, appointed as Whole Time Company Secretary and Compliance officer of the company, Mr. Yatin Vilas Chaphekar is a member of Institute of Company Secretaries of the company and having ACS No. 72316 and requisite qualification to hold position of the Whole Time Company Secretary and Compliance officer of the company. He has appointed as Company Secretary and Compliance Officer of the Company to full fill the casual vacancy due to resignation of previous Company Secretary and Compliance Officer of the Company. Date of Appointment: 02 December 2023. He is a qualified Company Secretary and Commerce Graduate. He is having good knowledge of Company Act, SEBI LODR and other applicable laws and having good working experience in the field of Secretarial work. Reported Earnings • Nov 16
Second quarter 2024 earnings released: EPS: ₹2.48 (vs ₹0.23 loss in 2Q 2023) Second quarter 2024 results: EPS: ₹2.48 (up from ₹0.23 loss in 2Q 2023). Revenue: ₹535.0m (down 38% from 2Q 2023). Net income: ₹31.0m (up ₹34.0m from 2Q 2023). Profit margin: 5.8% (up from net loss in 2Q 2023). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 61% per year but the company’s share price has increased by 69% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Nov 09
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹296, the stock trades at a trailing P/E ratio of 8.5x. Average trailing P/E is 42x in the Entertainment industry in India. Total returns to shareholders of 362% over the past three years. Announcement • Nov 04
Panorama Studios International Limited to Report Q2, 2024 Results on Nov 10, 2023 Panorama Studios International Limited announced that they will report Q2, 2024 results on Nov 10, 2023 Announcement • Aug 29
Panorama Studios International Limited, Annual General Meeting, Sep 30, 2023 Panorama Studios International Limited, Annual General Meeting, Sep 30, 2023. Announcement • Aug 20
Panorama Studios International Limited Announces Resignation of Kapil M Purohit as Company Secretary and Compliance Officer, Effective August 30, 2023 Panorama Studios International Limited informed that Mr. Kapil M Purohit (ACS: 65336) has tendered his resignation from the post of Company Secretary and Compliance Officer of Panorama Studios International Limited ("the Company") with effect from close of working hours of August 30, 2023 due to personal reasons. The noting of resignation will be taken and approved at the upcoming Board Meeting of the Company and the appointment of subsequent Company Secretary and Compliance Officer shall be intimated to the Stock Exchange in due course of time. Reported Earnings • Aug 15
First quarter 2024 earnings released: EPS: ₹3.26 (vs ₹1.61 loss in 1Q 2023) First quarter 2024 results: EPS: ₹3.26 (up from ₹1.61 loss in 1Q 2023). Revenue: ₹719.6m (up 115% from 1Q 2023). Net income: ₹40.5m (up ₹60.5m from 1Q 2023). Profit margin: 5.6% (up from net loss in 1Q 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has increased by 52% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Aug 06
Panorama Studios International Limited to Report Q1, 2024 Results on Aug 14, 2023 Panorama Studios International Limited announced that they will report Q1, 2024 results on Aug 14, 2023 Valuation Update With 7 Day Price Move • Jul 26
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₹205, the stock trades at a trailing P/E ratio of 6.9x. Average trailing P/E is 49x in the Entertainment industry in India. Total returns to shareholders of 240% over the past three years. Valuation Update With 7 Day Price Move • Jun 21
Investor sentiment improves as stock rises 46% After last week's 46% share price gain to ₹243, the stock trades at a trailing P/E ratio of 8.1x. Average trailing P/E is 44x in the Entertainment industry in India. Total returns to shareholders of 407% over the past three years. New Risk • Jun 17
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Indian stocks, typically moving 9.0% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Share price has been highly volatile over the past 3 months (9.0% average weekly change). Minor Risk Market cap is less than US$100m (₹2.38b market cap, or US$29.1m). Valuation Update With 7 Day Price Move • Jun 07
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₹193, the stock trades at a trailing P/E ratio of 6.4x. Average trailing P/E is 47x in the Entertainment industry in India. Total returns to shareholders of 381% over the past three years. Reported Earnings • Jun 03
Full year 2023 earnings released: EPS: ₹2.99 (vs ₹0.56 in FY 2022) Full year 2023 results: EPS: ₹2.99 (up from ₹0.56 in FY 2022). Revenue: ₹3.76b (up 354% from FY 2022). Net income: ₹372.5m (up ₹365.6m from FY 2022). Profit margin: 9.9% (up from 0.8% in FY 2022). The increase in margin was driven by higher revenue. Announcement • May 19
Panorama Studios International Limited to Report Q4, 2023 Results on May 30, 2023 Panorama Studios International Limited announced that they will report Q4, 2023 results on May 30, 2023 Announcement • Feb 02
Panorama Studios International Limited to Report Q3, 2023 Results on Feb 14, 2023 Panorama Studios International Limited announced that they will report Q3, 2023 results on Feb 14, 2023 Reported Earnings • Nov 17
Second quarter 2023 earnings released: ₹0.23 loss per share (vs ₹0.03 profit in 2Q 2022) Second quarter 2023 results: ₹0.23 loss per share (down from ₹0.03 profit in 2Q 2022). Revenue: ₹868.3m (up ₹839.8m from 2Q 2022). Net loss: ₹3.00m (down ₹3.40m from profit in 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has increased by 79% per year, which means it is well ahead of earnings. Announcement • Nov 03
Panorama Studios International Limited to Report Q2, 2023 Results on Nov 14, 2022 Panorama Studios International Limited announced that they will report Q2, 2023 results on Nov 14, 2022 Reported Earnings • Aug 17
First quarter 2023 earnings released: ₹1.61 loss per share (vs ₹1.36 loss in 1Q 2022) First quarter 2023 results: ₹1.61 loss per share (down from ₹1.36 loss in 1Q 2022). Revenue: ₹337.8m (up ₹282.7m from 1Q 2022). Net loss: ₹20.0m (loss widened 21% from 1Q 2022). Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 54% per year, which means it is well ahead of earnings. Announcement • Aug 03
Panorama Studios International Limited to Report Q1, 2023 Results on Aug 13, 2022 Panorama Studios International Limited announced that they will report Q1, 2023 results on Aug 13, 2022 Announcement • Jul 06
Panorama Studios International Limited Approves Appointment of Sanjeev Joshi as an Additional Executive Director The meeting of the board of directors of Panorama Studios International Limited held on July 5, 2022, the company approved appointment of Mr. Sanjeev Joshi as an Additional Executive Director on the Board of the Company. Announcement • May 21
Panorama Studios International Limited to Report Q4, 2022 Results on May 30, 2022 Panorama Studios International Limited announced that they will report Q4, 2022 results on May 30, 2022 Reported Earnings • Feb 17
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: ₹1.04 (up from ₹1.35 loss in 3Q 2021). Revenue: ₹693.5m (up ₹596.6m from 3Q 2021). Net income: ₹12.7m (up ₹22.9m from 3Q 2021). Profit margin: 1.8% (up from net loss in 3Q 2021). The move to profitability was driven by higher revenue. Revenue was in line with analyst estimates. Board Change • Feb 16
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Non-Executive Independent Director Khushboo Vasudev was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Feb 03
Panorama Studios International Limited to Report Q3, 2022 Results on Feb 14, 2022 Panorama Studios International Limited announced that they will report Q3, 2022 results on Feb 14, 2022 Reported Earnings • Nov 15
Second quarter 2022 earnings released: EPS ₹0.03 (vs ₹8.12 in 2Q 2021) The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2022 results: Revenue: ₹32.7m (down 93% from 2Q 2021). Net income: ₹400.0k (down 99% from 2Q 2021). Profit margin: 1.2% (down from 14% in 2Q 2021). The decrease in margin was driven by lower revenue. Valuation Update With 7 Day Price Move • Oct 13
Investor sentiment improved over the past week After last week's 20% share price gain to ₹61.85, the stock trades at a trailing P/E ratio of 36.1x. Average trailing P/E is 36x in the Entertainment industry in India. Total loss to shareholders of 1.8% over the past year. Valuation Update With 7 Day Price Move • Sep 28
Investor sentiment deteriorated over the past week After last week's 22% share price decline to ₹58.85, the stock trades at a trailing P/E ratio of 34.4x. Average trailing P/E is 42x in the Entertainment industry in India. Total returns to shareholders of 1.5% over the past year. Valuation Update With 7 Day Price Move • Sep 13
Investor sentiment deteriorated over the past week After last week's 17% share price decline to ₹70.20, the stock trades at a trailing P/E ratio of 27.2x. Average trailing P/E is 29x in the Entertainment industry in India. Reported Earnings • Aug 19
First quarter 2022 earnings released: ₹1.36 loss per share (vs ₹1.68 profit in 1Q 2021) The company reported a poor first quarter result with weaker earnings, revenues and control over costs. First quarter 2022 results: Revenue: ₹57.0m (down 19% from 1Q 2021). Net loss: ₹16.5m (down 230% from profit in 1Q 2021). Reported Earnings • Jul 06
Full year 2021 earnings released: EPS ₹7.10 (vs ₹7.13 in FY 2020) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2021 results: Revenue: ₹768.5m (down 76% from FY 2020). Net income: ₹50.5m (up 20% from FY 2020). Profit margin: 6.6% (up from 1.3% in FY 2020). The increase in margin was driven by lower expenses. Valuation Update With 7 Day Price Move • Jun 29
Investor sentiment deteriorated over the past week After last week's 17% share price decline to ₹41.30, the stock trades at a trailing P/E ratio of 3x. Average trailing P/E is 33x in the Entertainment industry in India. Total loss to shareholders of 18% over the past year. Valuation Update With 7 Day Price Move • May 07
Investor sentiment deteriorated over the past week After last week's 18% share price decline to ₹37.30, the stock trades at a trailing P/E ratio of 2.7x. Average trailing P/E is 31x in the Entertainment industry in India. Valuation Update With 7 Day Price Move • Mar 02
Investor sentiment improved over the past week After last week's 21% share price gain to ₹41.40, the stock is trading at a trailing P/E ratio of 3x, up from the previous P/E ratio of 2.5x. This compares to an average P/E of 25x in the Entertainment industry in India. Total returns to shareholders over the past three years are 245%. Is New 90 Day High Low • Feb 23
New 90-day low: ₹34.25 The company is down 25% from its price of ₹45.40 on 25 November 2020. The Indian market is up 16% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Entertainment industry, which is up 15% over the same period. Reported Earnings • Feb 17
Third quarter 2021 earnings released: ₹1.35 loss per share (vs ₹5.81 profit in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and control over costs. Third quarter 2021 results: Revenue: ₹96.9m (down 95% from 3Q 2020). Net loss: ₹10.2m (down 132% from profit in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 109% per year but the company’s share price has only increased by 44% per year, which means it is significantly lagging earnings growth. Announcement • Feb 05
Panorama Studios International Limited to Report Q3, 2021 Results on Feb 13, 2021 Panorama Studios International Limited announced that they will report Q3, 2021 results on Feb 13, 2021 Is New 90 Day High Low • Jan 21
New 90-day low: ₹37.00 The company is down 44% from its price of ₹66.00 on 22 October 2020. The Indian market is up 24% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Entertainment industry, which is up 27% over the same period. Valuation Update With 7 Day Price Move • Jan 05
Investor sentiment deteriorated over the past week After last week's 22% share price decline to ₹42.65, the stock is trading at a trailing P/E ratio of 2.2x, down from the previous P/E ratio of 2.9x. This compares to an average P/E of 42x in the Entertainment industry in India. Total returns to shareholders over the past year are 38%. Is New 90 Day High Low • Jan 05
New 90-day low: ₹42.65 The company is down 29% from its price of ₹60.00 on 07 October 2020. The Indian market is up 20% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Entertainment industry, which is up 12% over the same period. Announcement • Dec 31
Panorama Studios International Limited Announces Resignation of Abhishek Pokharna as Company Secretary and Compliance Officer Panorama Studios International Limited announced that Mr. Abhishek Pokharna has tendered his resignation from post of Company Secretary and Compliance officer. The resignation will be accepted in the upcoming, board meeting to be held on 07 January 2020. Valuation Update With 7 Day Price Move • Dec 29
Investor sentiment improved over the past week After last week's 16% share price gain to ₹54.95, the stock is trading at a trailing P/E ratio of 2.9x, up from the previous P/E ratio of 2.5x. This compares to an average P/E of 42x in the Entertainment industry in India. Total returns to shareholders over the past year are 78%. Announcement • Dec 01
Panorama Studios International Limited, Annual General Meeting, Dec 23, 2020 Panorama Studios International Limited, Annual General Meeting, Dec 23, 2020, at 11:00 Indian Standard Time. Agenda: To receive, consider and adopt the Standalone & Consolidated Audited Financial Statements of the Company for the year ended March 31, 2020 together with the reports of the Board of Directors and Auditors thereon; to appoint a director in place of Mr. Abhishek Kumar Pathak (DIN: 00700868) who retires by rotation and being eligible offer himself for re appointment; and to consider other matters. Reported Earnings • Nov 28
Second quarter 2021 earnings released: EPS ₹8.12 The company reported a decent second quarter result with improved earnings and profit margins, although revenues were weaker. Second quarter 2021 results: Revenue: ₹433.3m (down 53% from 2Q 2020). Net income: ₹61.6m (up ₹88.9m from 2Q 2020). Profit margin: 14% (up from net loss in 2Q 2020). The move to profitability was driven by lower expenses. Valuation Update With 7 Day Price Move • Nov 24
Market pulls back on stock over the past week After last week's 18% share price decline to ₹47.75, the stock is trading at a trailing P/E ratio of 2.3x, down from the previous P/E ratio of 2.8x. This compares to an average P/E of 14x in the Capital Markets industry in India. Total returns to shareholders over the past year are 61%. 
