Prime Focus
Prime Focus
MediaKey Fundamentals
SmallcapMedia & EntertainmentMediaTapetide Score
Data-driven rating, 0–100. How it works →
Key Insights
Strengths
1- Company is expected to give good quarter
Weaknesses
4- Stock is trading at 11.2 times its book value
- Company has low interest coverage ratio.
- Company has a low return on equity of -14.5% over last 3 years.
- Promoter holding has decreased over last 3 years: -9.22%
Growth Rate
AI Analysis — Bull vs Bear
Prime Focus Ltd has a market capitalisation of about ₹24,975 crore and trades at a P/E of 170.6x and a P/B of 11.83x. Recent momentum is strong, with TTM sales growth of 29%, TTM profit growth of 19% and a 1-year ROE of 16%. The longer-term record is weaker: 3-year sales growth is flat at 0%, 3-year average ROE is -14%, interest coverage is low and promoter holding has fallen by 9.22% over three years.
- TTM revenue growth of 29% is well above the 3-year compounded sales growth of 0%, which suggests business activity is picking up after a flat period.
- ROE improved to 16% in the last year, compared with a 3-year average of -14% and a 5-year average of -3%, which points to better profitability.
- 5-year compounded profit growth of 53% shows the company has been able to scale earnings substantially from a low base.
- TTM profit growth of 19% alongside 29% sales growth indicates the operating recovery is reaching the bottom line.
- The stock has delivered a 1-year CAGR of 80%, a 3-year CAGR of 51% and a 5-year CAGR of 34%, reflecting sustained market recognition of the recovery.
- Sales have compounded at 13% over both 5 and 10 years, showing a long-term growth record despite the recent flat 3-year stretch.
- Near-term expectations for the upcoming quarter are positive. If the 29% TTM sales momentum continues, earnings could grow into the 170.6x P/E.
- A P/E of 170.6x prices in very high future earnings growth, which leaves little room for execution slippage.
- The stock trades at 11.83x book value, a steep premium for a company whose 3-year average ROE is -14%.
- Average ROE of -14.5% over 3 years and -5% over 10 years shows a long history of not earning adequate returns for shareholders.
- Low interest coverage means debt servicing consumes a large share of operating profit. The balance sheet is sensitive to any earnings shortfall, and the debt-to-equity ratio was not available in the data provided.
- Promoter holding has fallen by 9.22% over the last 3 years, which some investors may read as reduced insider alignment or ongoing stake dilution.
- 3-year compounded sales growth of 0% and profit growth of 8% suggest the recent 29% TTM surge follows a long stagnant period and may not yet prove sustainable.
- The company pays a 0% dividend yield, so shareholders depend entirely on price appreciation at a 170.6x P/E.
- 10-year profit CAGR of 12% and stock CAGR of 17% are far below the recent 1-year stock return of 80%, a gap that suggests sentiment may have run ahead of fundamentals.
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
- Loss of control over Brahma AI Sep 23
Class A shares held by DNEG (18.18 crore) convert to Class C, so Prime Focus' indirect voting power in Brahma Holdings falls to a 24.99% cap from 89.27% fully diluted. Brahma Holdings and Brahma India become associates rather than subsidiaries, and founder Prabhu Narasimhan appoints 3 of 6 board seats while DNEG gets only one.
- Standalone losses widen sharply Sep 4
Q1 FY27 standalone net loss widened to ₹79.46 crore from ₹5.35 crore in Q1 FY26, even though net sales rose 9.48% YoY to ₹76.2 crore. Revenue growth is not reaching profitability.
- Equity dilution risk from ₹3,000 cr Sep 4
The planned raise of up to ₹3,000 crore via QIP, ADR/GDR, preferential or rights issue comes alongside an increase in authorised capital to 100 crore shares from 85 crore. That points to possible dilution for existing shareholders.
- Brahma AI valued at $2B Sep 23
Brahma AI raised $150M at a $2B post-money valuation, nearly 3x the $1.3B valuation from its $100M round in May 2025. Multiples anchored about $100M through CCPS, and a further $100M of investor demand may enlarge the round.
- Retains ~66% economic ownership Sep 23
Prime Focus stays Brahma AI's largest economic shareholder with about 65.67% fully diluted through DNEG and Brahma India. It keeps a stake worth roughly $1.3B in an Emmy-winning AI platform whose clients include Warner Bros, the NBA and Mayo Clinic.
- ₹3,000 cr fundraise board nod Sep 4
The board approved raising up to ₹3,000 crore across equity, debt and equity-linked instruments, subject to shareholder approval. The stock rose 1.23% to ₹308.55 on the news.
- Two-engine growth strategy Sep 23
CEO Namit Malhotra presents DNEG (VFX and animation) and Brahma AI (enterprise AI) as the group's two growth engines. Brahma will spend the new capital on R&D, compute, a Bay Area expansion and interactive digital humans.
- Board approves Multiples investment Sep 23
The board approved a $100M investment by Multiples in subsidiaries BHL and Brahma India, with Multiples PE Gift Fund IV putting in $54.35M and Fund IV $45.64M. Multiples gets one board seat while it holds 51% or more of its CCPS.
- Institutional investor meetings in Mumbai Sep 25
Prime Focus will hold one-to-one institutional investor meetings in Mumbai from September 29 to October 1, 2026. No price-sensitive information will be shared.
- 29th AGM on Sep 30 Sep 3
The 29th Annual General Meeting is scheduled for September 30, 2026, via video conferencing. It is likely the venue for shareholder approval of the ₹3,000 crore raise and the authorised capital increase.
TL;DR: Prime Focus has realised substantial value in Brahma AI, which is now valued at $2B, nearly 3x its May 2025 valuation, while Prime Focus keeps about 66% economic ownership. The trade-off is that its voting power drops to 24.99% and Brahma moves to associate status, which removes it from consolidated financials. Standalone losses widened to ₹79.46 crore in Q1 FY27, and the proposed ₹3,000 crore raise brings dilution risk. Sentiment looks better on the back of the valuation, and the next things to watch are the AGM vote, the pricing and structure of the fundraise, and whether DNEG's core business can return to profitability.
Quarterly Results
| Particulars | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,210 | 1,026 | 841 | 873 | 813 | 897 | 909 | 979 | 1,023 | 1,061 | 1,207 | 1,384 | 1,267 |
| Expenses | 1,057 | 1,033 | 815 | 832 | 739 | 686 | 641 | 747 | 779 | 765 | 813 | 896 | 966 |
| Operating Profit | 153 | -7 | 26 | 42 | 75 | 211 | 268 | 232 | 244 | 296 | 394 | 488 | 301 |
| OPM % | 13% | -0.7% | 3.1% | 4.8% | 9% | 24% | 29% | 24% | 24% | 28% | 33% | 35% | 24% |
| Other Income | 59 | 12 | 105 | 81 | 30 | 131 | -84 | -231 | 167 | -31 | -12 | -41 | -28 |
| Interest | 156 | 160 | 117 | 125 | 127 | 128 | 150 | 133 | 114 | 120 | 133 | 148 | 126 |
| Depreciation | 125 | 128 | 132 | 113 | 112 | 139 | 128 | 126 | 133 | 139 | 167 | 218 | 179 |
| PBT | -69 | -284 | -118 | -116 | -135 | 75 | -94 | -257 | 164 | 6 | 83 | 82 | -33 |
| Tax % | 5% | -10% | -33% | -31% | 17% | 33% | 6% | -2% | 33% | 30% | 16% | -44% | 40% |
| Net Profit | -72 | -257 | -79 | -80 | -158 | 50 | -99 | -252 | 110 | 4 | 69 | 118 | -46 |
| EPS in Rs | -2.27 | -7.37 | -1.85 | -2.01 | -3.98 | 1.11 | -2.01 | -7.7 | 2 | 0.05 | 0.91 | 1.06 | -0.53 |
Profit & Loss
| Particulars | Jun 2015 | Mar 2016 9m | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,606 | 1,382 | 2,153 | 2,257 | 2,539 | 2,928 | 2,536 | 3,386 | 4,644 | 3,951 | 3,599 | 4,676 | 4,919 |
| Expenses | 1,364 | 1,180 | 1,743 | 1,840 | 2,180 | 2,524 | 1,947 | 2,589 | 3,670 | 3,697 | 2,812 | 3,252 | 3,439 |
| Operating Profit | 241 | 203 | 410 | 416 | 359 | 404 | 590 | 797 | 975 | 253 | 787 | 1,424 | 1,480 |
| OPM % | 15% | 15% | 19% | 18% | 14% | 14% | 23% | 24% | 21% | 6% | 22% | 30% | 30% |
| Other Income | -228 | -38 | 121 | 34 | 123 | 13 | 45 | -89 | 219 | 216 | -154 | 82 | -112 |
| Interest | 73 | 262 | 172 | 212 | 237 | 231 | 251 | 373 | 421 | 558 | 538 | 515 | 527 |
| Depreciation | 221 | 203 | 255 | 277 | 304 | 381 | 422 | 417 | 527 | 498 | 505 | 658 | 703 |
| PBT | -281 | -301 | 105 | -39 | -58 | -196 | -39 | -82 | 246 | -587 | -411 | 334 | 137 |
| Tax % | 12% | 5% | 9% | 15% | -44% | -21% | 46% | 111% | 45% | -17% | 12% | 10% | — |
| Net Profit | -313 | -317 | 96 | -44 | -33 | -154 | -56 | -174 | 194 | -488 | -458 | 301 | 145 |
| EPS in Rs | -9.78 | -9.48 | 2.79 | -1.78 | -0.76 | -4.39 | -1.45 | -5.73 | 4.92 | -13.49 | -12.57 | 2.82 | 1.49 |
| Div. Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | — |
Balance Sheet
| Particulars | Jun 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 30 | 30 | 30 | 30 | 30 | 30 | 30 | 30 | 30 | 30 | 30 | 78 |
| Reserves | 1,082 | 378 | 510 | 546 | 498 | 362 | 237 | 84 | -5 | 486 | 729 | 2,011 |
| Borrowings | 1,037 | 1,571 | 1,339 | 1,637 | 2,419 | 3,371 | 3,904 | 4,102 | 4,892 | 4,859 | 4,879 | 5,717 |
| Other Liabilities | 1,229 | 1,366 | 1,422 | 1,226 | 899 | 1,205 | 1,159 | 1,422 | 1,826 | 1,744 | 2,838 | 2,818 |
| Total Liabilities | 3,379 | 3,345 | 3,301 | 3,439 | 3,846 | 4,969 | 5,329 | 5,638 | 6,743 | 7,120 | 8,476 | 10,623 |
| Fixed Assets | 2,138 | 2,322 | 2,247 | 2,264 | 2,445 | 2,926 | 2,973 | 2,895 | 3,067 | 2,990 | 3,984 | 4,377 |
| CWIP | 44 | 51 | 20 | 55 | 63 | 47 | 30 | 28 | 152 | 260 | 194 | 164 |
| Investments | 86 | 89 | 4 | 4 | 4 | 4 | 0 | 0 | 131 | 153 | 158 | 236 |
| Other Assets | 1,111 | 883 | 1,030 | 1,116 | 1,334 | 1,992 | 2,327 | 2,715 | 3,393 | 3,718 | 4,140 | 5,846 |
| Total Assets | 3,379 | 3,345 | 3,301 | 3,439 | 3,846 | 4,969 | 5,329 | 5,638 | 6,743 | 7,120 | 8,476 | 10,623 |
Cash Flow
| Particulars | Jun 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | 213 | 30 | 291 | 201 | 120 | 522 | 328 | 183 | 254 | -32 | 299 | 1,024 |
| Investing | -446 | -98 | -89 | -374 | -269 | -154 | -104 | -80 | -490 | -317 | -356 | -593 |
| Financing | 254 | 123 | -187 | 147 | 159 | -201 | -114 | -232 | 152 | 335 | 133 | 43 |
| Net Cash Flow | 21 | 55 | 15 | -27 | 10 | 166 | 111 | -129 | -84 | -15 | 76 | 474 |
| Free Cash Flow | -90 | -57 | 67 | -102 | -118 | 371 | 231 | 99 | -103 | -337 | -64 | 495 |
| CFO/OP | 100 | 22 | 73 | 52 | 48 | 144 | 61 | 22 | 33 | 3 | 40 | 73 |
Ratios
| Particulars | Jun 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 85 | 50 | 46 | 56 | 59 | 72 | 32 | 49 | 49 | 37 | 42 | 36 |
| Cash Conversion Cycle | 85 | 50 | 46 | 56 | 59 | 72 | 32 | 49 | 49 | 37 | 42 | 36 |
| Working Capital Days | -69 | -314 | -83 | -97 | -78 | -141 | -268 | -195 | 31 | 45 | -207 | -242 |
| ROCE % | 2% | 2% | 8% | 8% | 7% | 3% | 6% | 11% | 16% | -2% | 8% | 11% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Prime Focus insights
62 extracted metrics + investor summaries across FY08–FY27.
Documents
Frequently Asked Questions about Prime Focus
What does Prime Focus Ltd do?
Where is Prime Focus Ltd (PFOCUS) listed?
Which sector does Prime Focus Ltd belong to?
What is the market capitalisation of Prime Focus Ltd?
What is the PE ratio of Prime Focus Ltd?
What is the 52-week high and low of Prime Focus Ltd?
What is the Return on Equity (ROE) of Prime Focus Ltd?
Company Information
PFL was founded by Mr. Namit Naresh Malhotra in 1997. It started from Mumbai to being an integrated media and entertainment services powerhouse. [1] It is present in 18 cities (8 in India and 10 internationally) across 5 continents. [2] Prime Focus is engaged in the business of post-production activities including digital intermediate, visual effects, 2D to 3D conversion, and other technical and creative services to the Media and Entertainment industry.[3]
For AI agents and developers
Reading this as an AI agent, LLM or automated pipeline? Every page on Tapetide is also published as clean Markdown — no navigation, no scripts, just the data. Fetch https://tapetide.com/stocks/PFOCUS.md for Prime Focus Ltd: company profile, latest price, key fundamentals, the Tapetide Score, growth rates, quarterly and annual financial statements, shareholding pattern, technical indicators, analyst ratings and exchange filings.
Append .md to any Tapetide URL for the
same treatment. A full index of what we publish is at /llms.txt and /llms-full.txt. For live,
structured queries instead of documents, use our MCP server.