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PhantomFX’s H2 FY24 Results Surge: EBITDA Skyrockets by 87 Percent, Margin Expansion Hits 876 Bps

Mumbai (Maharashtra) [India], June 3: Phantom Digital Effects Limited (NSE: PHANTOMFX), a creative visual effects (VFX) studio, announced its Audited Financial Results for H2 FY24 & FY24.

Key Financial Highlights

Key Financial Highlights FY24

  • Total Income of ₹ 90.43 Cr, YoY growth of 53.96 %
  • EBITDA of ₹ 39.03 Cr, YoY growth of 66.22 %
  • EBITDA Margin of 43.15 %, YoY growth of 318 Bps
  • Net Profit of ₹ 24.11 Cr, YoY growth of 48.89 %
  • Net Profit Margin of 26.67 %, YoY growth of -91 Bps 
  • EPS of ₹ 26.90, YoY growth of 68.44 %

Key Financial Highlights H2 FY24

  • Total Income of ₹ 49.20 Cr, growth of 52.46 %
  • EBITDA of ₹ 23.16 Cr, growth of 87.29 %
  • EBITDA Margin of 47.08 %, growth of 876 Bps
  • Net Profit of ₹ 13.72 Cr, growth of 68.08 %
  • Net Profit Margin of 27.88 %, growth of 259 Bps
  • EPS of ₹ 21.58, growth of 168.07 %

Comment on Financial Performance Mr. Bejoy Arputharaj, Director, Phantom Digital Effects Limited said, “The growth witnessed in our H2 FY24 and overall FY24 performance underscores the effectiveness of our timely strategic decisions to diversify, the unwavering dedication of our team, and the trust bestowed upon us by our clients.

Despite encountering industry challenges, such as the temporary disruptions caused by actors’ and writers’ strikes, we adeptly navigated through them. Our strategic expansion within the Indian market played a pivotal role in achieving outstanding results.

Aligned with our success in H2 FY24, the acquisition of Tippett Studio represents a significant milestone for PhantomFX. Recognizing an excellent opportunity upon Tippett Studio’s availability for acquisition, known for its groundbreaking contributions to iconic films like JURASSIC PARK and STAR WARS, we capitalized on this strategic fit. Importantly, the acquisition was made below its intrinsic value, positioning us for substantial revenue growth of 20-25% in FY24-25. With esteemed industry veteran Phil Tippett joining our ranks and a substantial order book, we are well-prepared for future triumphs.

Looking forward, we are committed to expanding into animation and gaming sectors while concentrating on global markets, particularly in America and Europe, which offer significant growth prospects. We are prioritizing collaboration with AI to drive efficiency and innovation, while also seeking partnerships with industry leaders and startups to access cutting-edge technologies and talent. With our strategically located offices in key global markets, we are poised to extend our reach and capitalize on the abundant value creation opportunities offered by global business. We are also exploring new revenue streams such as IP licensing and original content creation, reaffirming our dedication to sustained growth and innovation.”

Highlights for H2 FY24 (October 2023 – March 2024)

AcquisitionPhantomFX acquired an 80% stake in the Oscar-winning Tippett Studio. The acquisition, which retains Phil Tippett’s creative involvement and maintains Tippett Studio’s operations, will expand PhantomFX’s global footprint and capabilities, potentially adding employees across India, the US, and Canada.
New Hirings in PhantomFXThe Company appointed Mr. James Abadi as Executive Producer to lead its UK business expansion, leveraging his 25-year expertise in diverse content production. This will help in enhancing company’s presence in the UK market and driving innovation in the VFX industry.
Company Raises Capital via QIP with Top InvestorsThe company raised ₹80 crores through QIP by allotting 19,39,200 Equity Shares. This includes marquee investors such as BofA Securities Europe SA-ODI, Morgan Stanley Asia (Singapore) PTE, Absolute Returns Scheme, Resonance Opportunities Fund, NAV Capital VCC – NAV Capital Emerging Star, and Rajasthan Global Securities Private Limited.

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