Valuation Update With 7 Day Price Move • Apr 06
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹185, the stock trades at a trailing P/E ratio of 7.7x. Average trailing P/E is 34x in the Entertainment industry in India. Negligible returns to shareholders over past three years. Valuation Update With 7 Day Price Move • Feb 09
Investor sentiment improves as stock rises 26% After last week's 26% share price gain to ₹235, the stock trades at a trailing P/E ratio of 9.8x. Average trailing P/E is 33x in the Entertainment industry in India. Total returns to shareholders of 15% over the past three years. New Risk • Feb 03
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 7.3% 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 (7.3% average weekly change). Market cap is less than US$100m (₹2.77b market cap, or US$30.7m). Announcement • Nov 13
Phantom Digital Effects Limited to Report First Half, 2026 Results on Nov 14, 2025 Phantom Digital Effects Limited announced that they will report first half, 2026 results on Nov 14, 2025 Board Change • Oct 20
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. 5 experienced directors. 1 highly experienced director. 3 independent directors (4 non-independent directors). Independent Non-Executive Director Surayaraj Kumar was the last independent director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • Sep 09
Phantom Digital Effects Limited, Annual General Meeting, Sep 30, 2025 Phantom Digital Effects Limited, Annual General Meeting, Sep 30, 2025, at 11:00 Indian Standard Time. Reported Earnings • Jul 17
Full year 2025 earnings released: EPS: ₹14.88 (vs ₹17.76 in FY 2024) Full year 2025 results: EPS: ₹14.88 (down from ₹17.76 in FY 2024). Revenue: ₹1.04b (up 17% from FY 2024). Net income: ₹202.0m (down 16% from FY 2024). Profit margin: 19% (down from 27% in FY 2024). The decrease in margin was driven by higher expenses. Valuation Update With 7 Day Price Move • Jul 04
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to ₹306, the stock trades at a trailing P/E ratio of 18.9x. Average trailing P/E is 39x in the Entertainment industry in India. Total loss to shareholders of 34% over the past year. Valuation Update With 7 Day Price Move • Jun 09
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to ₹274, the stock trades at a trailing P/E ratio of 16.9x. Average trailing P/E is 34x in the Entertainment industry in India. Total loss to shareholders of 32% over the past year. New Risk • Jun 01
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (77% accrual ratio). Minor Risks Latest financial reports are more than 6 months old (reported September 2024 fiscal period end). Share price has been volatile over the past 3 months (8.3% average weekly change). Market cap is less than US$100m (₹3.39b market cap, or US$39.7m). New Risk • May 05
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 10.0% 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 Share price has been highly volatile over the past 3 months (10.0% average weekly change). High level of non-cash earnings (77% accrual ratio). Minor Risk Market cap is less than US$100m (₹3.11b market cap, or US$36.9m). Valuation Update With 7 Day Price Move • Apr 24
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹231, the stock trades at a trailing P/E ratio of 14.3x. Average trailing P/E is 50x in the Entertainment industry in India. Total loss to shareholders of 54% over the past year. Valuation Update With 7 Day Price Move • Apr 03
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₹210, the stock trades at a trailing P/E ratio of 13x. Average trailing P/E is 48x in the Entertainment industry in India. Total loss to shareholders of 56% over the past year. Announcement • Mar 05
Phantom Digital Effects Limited announced that it expects to receive INR 149.86725 million in funding from Zeal Global Opportunities Fund, Al Maha Investment Fund Pcc - Onyx Strategy, M7 Global Fund PCC- Cell Dewcap Fund and another investor Phantom Digital Effects Limited announced a private placement of 2,427,000 warrants at a price of INR 61.75 per warrant for gross proceeds of INR 149,867,250 on March 3, 2025. The warrants will be convertible into one common share of the company at INR 185.25 per share and will mature in 18 months from the date of the allotment. The securities will be issued on preferential basis. The transaction has been approved by the board of directors of the company. The transaction included participation from new investors Bejoy Arputharaj Sam Manohar for 500,000 warrants; Zeal Global Opportunities Fund for 750,000 warrants; Al Maha Investment Fund Pcc - Onyx Strategy for 750,000 warrants; M7 Global Fund PCC- Cell Dewcap Fund for 427,000 warrants. Board Change • Feb 24
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 6 new directors. No experienced directors. 1 highly experienced director. 3 independent directors (4 non-independent directors). Founder, Chairman, CEO & MD Bejoy Arputharaj Manohar is the most experienced director on the board, commencing their role in 2016. Independent Non-Executive Director Surayaraj Kumar was the last independent director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Announcement • Jan 27
Phantom Digital Effects Limited Announces the Appointment of Ian Unterreiner as Executive Vice President Phantom Digital Effects Limited announced the appointment of Ian Unterreiner as Executive Vice President, a key strategic move aimed at driving innovation and expanding the studio's global presence. Ian Unterreiner brings nearly two decades of experience in post-production, corporate strategy, and leadership. Throughout his career, he has worked with top-tier studios such as Netflix, Marvel, Paramount, Sony Pictures and Zoic Studios. His portfolio includes iconic projects such as Game of Thrones, Once Upon a Time, and Homeland, as well as notable advertising campaigns for brands like BMW, PlayStation, and Dr. Pepper. Ian's previous leadership roles include Senior Vice President at Zoic Studios, where he oversaw advertising, games, and VR production, and Executive Producer and Head of Production at Radium. These positions allowed Ian to cultivate creative talent, optimize global VFX pipelines, and implement forward-thinking strategies that positioned these companies as industry leaders. In his new role at PhantomFX, Ian will oversee key strategic initiatives to strengthen the studio's market presence and enhance operational excellence. His responsibilities will encompass strategic growth planning, revenue management, customer-focused development, cross-functional leadership, brand and market expansion, as well as overseeing operations and production across PhantomFX and its current and future subsidiaries. His appointment highlights PhantomFX's ongoing commitment to delivering world-class VFX solutions and innovative creative strategies. Ian's leadership is expected to play a pivotal role in further elevating PhantomFX's competitive edge in the evolving entertainment industry. New Risk • Nov 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 8.0% 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 (8.0% average weekly change). Shareholders have been diluted in the past year (17% increase in shares outstanding). Market cap is less than US$100m (₹3.44b market cap, or US$40.8m). Valuation Update With 7 Day Price Move • Nov 14
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to ₹260, the stock trades at a trailing P/E ratio of 14.5x. Average trailing P/E is 41x in the Entertainment industry in India. Total loss to shareholders of 37% over the past year. Reported Earnings • Aug 14
First quarter 2025 earnings released: EPS: ₹4.58 (vs ₹5.21 in 1Q 2024) First quarter 2025 results: EPS: ₹4.58. Revenue: ₹267.9m (up 13% from 1Q 2024). Net income: ₹62.1m (up 2.6% from 1Q 2024). Profit margin: 23% (down from 26% in 1Q 2024). The decrease in margin was driven by higher expenses. Announcement • Aug 13
Phantom Digital Effects Limited, Annual General Meeting, Sep 19, 2024 Phantom Digital Effects Limited, Annual General Meeting, Sep 19, 2024, at 11:00 Indian Standard Time. Announcement • Jul 16
Phantom Digital Effects Limited Unveils Breakthrough Innovations in Automation and Virtual Production Phantom Digital Effects Limited unveils significant updates in their ongoing efforts to enhance productivity and revolutionize the filmmaking process. These developments are set to redefine filmmaking processes by enhancing productivity and offering filmmakers unprecedented creative freedom. Key advancements include: Revolutionary Automation Tool: Phantom Digital Effects has introduced advanced automation tools set to transform the production pipeline. These tools are anticipated to enhance productivity by 10 to 15%, allowing artists to concentrate on the creative aspects of their work. By automating routine tasks, the team can focus their skills and expertise on delivering breathtaking visual effects, unencumbered by repetitive jobs. State-of-the-Art Virtual Production Unit: The company announced the launch of their state-of-the-art Virtual Production unit. This facility uses real-time technology, enabling filmmakers to interact with 3D sets and plan their camera movements virtually. This innovative approach significantly enhances the preproduction stage, offering a hands-on experience that surpasses traditional methods. Filmmakers can now visualize their projects in real-time, bringing storyboards and previsualizations to life with unprecedented accuracy. The Virtual Production experience centre at Phantom Digital Effects Ltd. is poised to become a unique selling point, embracing the future of filmmaking technology. Advancements in AT Research and Development: The Technology and R&D team at Phantom Digital Effects Ltd. has made significant progress in AI research, incorporating cutting-edge techniques to boost productivity and elevate the quality of their work. By integrating AlI-driven solutions, the studio is pushing the boundaries of visual effects, delivering exceptional and innovative outcomes for their clients. Introducing Photorealistic Virtual Sets: The company to unveil a new service: the creation of photorealistic virtual sets for Virtual Production volume stages. Their real-time technology team is now fully operational, creating stunning and lifelike virtual environments that will enhance the visual storytelling experience. This addition to their service portfolio underscores their commitment to providing filmmakers with the tools they need to realize their creative visions. Valuation Update With 7 Day Price Move • Jul 04
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to ₹467, the stock trades at a trailing P/E ratio of 26.3x. Average trailing P/E is 37x in the Entertainment industry in India. Total loss to shareholders of 2.2% over the past year. Announcement • Apr 05
Phantom Digital Effects Limited Appoints Thamiz Selvan Dakshinamoorthy as Chief Financial Officer Phantom Digital Effects Limited announced that the Board of Directors of the company at the meeting held on April 4, 2024, based on the recommendation of the Audit Committee and Nomination and Remuneration Committee ("NRC"), has approved the appointment Mr. Thamiz Selvan Dakshinamoorthy, as Chief Financial Officer and one of the Key Managerial Personnel of the Company. The appointment will be effective from April 26, 2024. Mr. Thamiz Selvan Dakshinamoorthy is Member of Institute of Chartered Accountant of India and Institute of Company Secretaries of India. He is finance professional with 12 years of experience in various areas of accounts, audit and financial management and worked with a major listed company. Announcement • Mar 13
Phantom Digital Effects Limited (NSEI:PHANTOMFX) agreed to acquire 80% stake in Tippett Studios, Inc. for $3.8 million. Phantom Digital Effects Limited (NSEI:PHANTOMFX) agreed to acquire 80% stake in Tippett Studios, Inc. for $3.8 million on March 11, 2024. Upon completion, Tippett will continue its operations under the same name, Gary Mundell, CEO of Tippett North America, will maintain his position and join the board, along with Cliff McDowell, who assumes the role of COO for North America. The acquisition of Tippett by PHANTOMFX is expected to result in a significant increase in revenue growth of 20-25% during the 2024-2025 financial year. Sunil Mudgal of Kirin Advisors Private Limited acted as financial advisor to Phantom Digital. New Risk • Feb 20
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 17% 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 Share price has been volatile over the past 3 months (8.3% average weekly change). Shareholders have been diluted in the past year (17% increase in shares outstanding). Market cap is less than US$100m (₹7.45b market cap, or US$89.8m). Reported Earnings • Feb 17
Third quarter 2024 earnings released: EPS: ₹9.13 (vs ₹2.94 in 3Q 2023) Third quarter 2024 results: EPS: ₹9.13 (up from ₹2.94 in 3Q 2023). Revenue: ₹261.7m (up 36% from 3Q 2023). Net income: ₹78.0m (up 87% from 3Q 2023). Profit margin: 30% (up from 22% in 3Q 2023). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • Feb 15
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₹537, the stock trades at a trailing P/E ratio of 33.6x. Average trailing P/E is 37x in the Entertainment industry in India. Total returns to shareholders of 168% over the past year. Valuation Update With 7 Day Price Move • Dec 22
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₹520, the stock trades at a trailing P/E ratio of 32.6x. Average trailing P/E is 41x in the Entertainment industry in India. Total returns to shareholders of 155% over the past year. Reported Earnings • Nov 14
Second quarter 2024 earnings released: EPS: ₹1,363 (vs ₹2.94 in 2Q 2023) Second quarter 2024 results: EPS: ₹1,363 (up from ₹2.94 in 2Q 2023). Revenue: ₹175.8m (down 8.6% from 2Q 2023). Net income: ₹43.5m (up 4.4% from 2Q 2023). Profit margin: 25% (up from 22% in 2Q 2023). The increase in margin was driven by lower expenses. Announcement • Sep 07
Phantom Digital Effects Limited, Annual General Meeting, Sep 27, 2023 Phantom Digital Effects Limited, Annual General Meeting, Sep 27, 2023, at 15:30 Indian Standard Time. Agenda: To consider and adopt the Audited financial statement of the Company for the financial year ended 31st March 2023 together with the Reports of the Directors and Auditors thereon; to appoint a director in place of Mr. Binu Joshua Sammanohar (DIN: 03459073), who retires by rotation and being eligible, offers himself for re- appointment; to appoint a director in place of Mr. Sivasankaran Ravindran (DIN: 08009653), who retires by rotation and being eligible, offers himself for re-appointment; and to consider other business matters. Valuation Update With 7 Day Price Move • Aug 04
Investor sentiment improves as stock rises 28% After last week's 28% share price gain to ₹565, the stock trades at a trailing P/E ratio of 36.3x. Average trailing P/E is 52x in the Entertainment industry in India. Reported Earnings • Jul 29
First quarter 2024 earnings released First quarter 2024 results: EPS: ₹5.21. Net income: ₹60.6m (up ₹60.6m from 1Q 2023). Valuation Update With 7 Day Price Move • Jun 30
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹456, the stock trades at a trailing P/E ratio of 32.8x. Average trailing P/E is 46x in the Entertainment industry in India. Valuation Update With 7 Day Price Move • Jun 15
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹421, the stock trades at a trailing P/E ratio of 30.3x. Average trailing P/E is 41x in the Entertainment industry in India. Valuation Update With 7 Day Price Move • May 29
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹324, the stock trades at a trailing P/E ratio of 23.3x. Average trailing P/E is 42x in the Entertainment industry in India. Reported Earnings • May 23
Full year 2023 earnings released: EPS: ₹15.97 (vs ₹5.45 in FY 2022) Full year 2023 results: EPS: ₹15.97 (up from ₹5.45 in FY 2022). Revenue: ₹587.4m (up 163% from FY 2022). Net income: ₹162.0m (up 230% from FY 2022). Profit margin: 28% (up from 22% in FY 2022). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • Apr 19
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to ₹231, the stock trades at a trailing P/E ratio of 54.9x. Average trailing P/E is 46x in the Entertainment industry in India. Valuation Update With 7 Day Price Move • Apr 05
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹184, the stock trades at a trailing P/E ratio of 43.6x. Average trailing P/E is 39x in the Entertainment industry in India. Valuation Update With 7 Day Price Move • Jan 04
Investor sentiment improved over the past week After last week's 18% share price gain to ₹230, the stock trades at a trailing P/E ratio of 54.5x. Average trailing P/E is 52x in the Entertainment industry in India. Board Change • Nov 16
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 6 new directors. 1 experienced director. No highly experienced directors. 3 independent directors (4 non-independent directors). Founder, Chairman, CEO & MD Bejoy Arputharaj Manohar is the most experienced director on the board, commencing their role in 2016. Non-Executive Independent Director Manjit Parmar was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Board Change • Oct 25
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 6 new directors. 1 experienced director. No highly experienced directors. 3 independent directors (4 non-independent directors). Founder, Chairman, CEO & MD Bejoy Arputharaj Manohar is the most experienced director on the board, commencing their role in 2016. Non-Executive Independent Director Manjit Parmar was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors.