Key Highlights
- Total income rose 140.91% YoY to ₹88.30 crore in H1 FY26.
- EBITDA increased 75.39% YoY to ₹28.62 crore with 32.42% margin.
- PAT surged 149.99% YoY to ₹20.69 crore with a 23.43% margin.
- EPS increased 127.75% YoY to ₹13.87 in H1 FY26.
- Consolidated order book stood at ₹201.32 crore as of 31 October 2025.
- Receivables at ₹79.02 crore with ₹13.93 crore realised in Oct–Nov.
- PMG consolidation unified 5 global studios under one platform.
Phantom Digital Effects Limited recorded a strong financial performance in the first half of FY26, supported by rapid expansion across global content markets, increased project deliveries, and enhanced production efficiencies. The company reported substantial growth across all major financial indicators.
For H1 FY26, total income grew 140.91% year-on-year to ₹88.30 crore, compared to ₹36.65 crore in the same period last year. EBITDA rose to ₹28.62 crore, reflecting a 75.39% YoY increase over ₹16.32 crore in H1 FY25. The company reported an EBITDA margin of 32.42%, driven by improved operating leverage and high-quality project execution.
Profit After Tax surged 149.99% YoY to ₹20.69 crore, up from ₹8.27 crore in H1 FY25. The PAT margin expanded to 23.43% from 22.58%. Earnings per share rose to ₹13.87, marking a 127.75% increase from ₹6.09 in the previous year.
The order book remained strong, standing at ₹201.32 crore as of 31 October 2025. This includes confirmed projects across India, North America, Europe, and Asia. The company saw broad-based contributions from subsidiaries, including Tippett Studios, Milk Visual Effects, Hangzhou Huangtong Technology, and Lola Post.
Receivables as of September 2025 were reported at ₹79.02 crore, with realisations of ₹13.93 crore during October and November, reflecting disciplined billing cycles and healthy client collections.
During the period, Phantom Digital Effects delivered several major high-value assignments, including Kantara 2, War 2, Thandel, Saare Jahan Se Accha, Coolie, Creation of the Gods II, Ironheart, Alien: Romulus, and Star Wars: Skeleton Crew. Its upcoming pipeline includes large-scale projects for Walt Disney, Lucasfilm, Amazon Studios, BBC, Netflix, Prime Video, ITV Studios, and multiple big-budget Indian productions.
The company also completed the consolidation of its global creative studios—Milk VFX, Tippett Studio, Lola Post, PhantomFX, and Spectre Post—under the newly formed Phantom Media Group (PMG). The unified structure aims to enhance operational alignment, increase cross-market collaboration, and strengthen global VFX capabilities.
Management stated that expansion into new markets, including the establishment of Phantom China, and increasing demand from streaming platforms and international studios will continue to support long-term growth. The company remains focused on improving delivery capacity, expanding technical capabilities, and building a stronger global footprint.