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Prime Focus Limited (PFOCUS)

Media Entertainment & Publication · Entertainment · NSE · Updated 4 July 2026

₹288.8 ↑ 74.04% (1Y)

🎯 Key Takeaways

Prime Focus Limited is undergoing a strategic pivot from traditional media services toward international animation production, marked by recent acquisitions and internal restructuring. The company is transitioning from a mature services model to a growth-oriented content creation play, though profitability remains volatile.
Revenue grew 1.4% QoQ to ₹909 in Q3FY25.
⚠️ 1) The company's profitability remains highly volatile due to project-based revenue and timing of large contract recoveries, as seen in the swing from

Market Cap

₹22,411

P/E Ratio

-78.0

Div Yield

0.00%

Promoter

0.0%

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📖 The Story

Prime Focus Limited is undergoing a strategic pivot from traditional media services toward international animation production, marked by recent acquisitions and internal restructuring. The company is transitioning from a mature services model to a growth-oriented content creation play, though profitability remains volatile. This phase reflects active transformation rather than stable cash generation or distress.

📰 What's Happening

In Q1 FY25 (ending June 30, 2026), Prime Focus completed the acquisition of a 48.45% stake in Spanish animation studio Ánima Kitchent Canarias for Rs. 13.70 crore via its subsidiary Double Negative Films Limited, securing European production capabilities and government-backed partnerships. Concurrently, the company approved the allotment of 500,000 ESOP shares at Re. 1, increasing paid-up capital by Rs. 5 lakh. Earlier, in April 2026, it executed a complex intra-group restructuring where Prime Focus Technologies Inc. (PFT US) was transferred from Brahma India to DNEG S.a.r.l., while Brahma India was transferred to Brahma AI Holdings Limited in a two-step equity realignment involving ~USD 21 million and ~USD 90.09 million considerations. These moves are designed to streamline global operations and position the group for international content scaling.

Source: Stock Announcements

📊 Quarterly Results (₹ Cr)

Metric	Q4FY23	Q1FY24	Q2FY24	Q3FY24	Q4FY24	Q1FY25	Q2FY25	Q3FY25
Revenue	1,435	1,210	1,026	841	863	813	897	909
Operating Profit	532	212	5	131	122	105	342	184
OPM %	30.4%	12.7%	-0.7%	3.1%	3.7%	9.2%	23.5%	29.5%
Net Profit	190	-72	-257	-79	-80	-158	50	-99
EPS	₹6.36	₹-2.41	₹-8.58	₹-2.64	₹-2.68	₹-5.27	₹1.68	₹-3.30

Financial performance shows mixed momentum with sequential improvement in Q1 FY25 (Rev ₹909 crore, OP ₹184 crore, OPM 29.5%) following weaker prior quarters, though NP remains negative at ₹-99 crore. This contrasts with Q2 FY25 where operations were profitable (NP ₹50 crore), suggesting cyclicality in project-based revenue. The sharp decline from Q4 FY24's ₹190 crore profit to current losses indicates volatility tied to project completions and timing of large contract recoveries. Margins improved significantly in Q1 FY25 from Q4 FY24's 3.7% OPM to 29.5%, reflecting potential operational stabilization, but NP remains negative due to likely foreign exchange or restructuring-related expenses not yet fully disclosed.

🔮 Management Outlook & What's Next

Management has not provided explicit forward guidance on revenue growth or profitability in the latest filings. However, the acquisition of Ánima Kitchent Canarias and the detailed restructuring disclosures signal intent to scale international animation operations. The absence of a stated completion date for the group restructuring and lack of financial targets suggest execution is ongoing without near-term performance commitments. Investors should monitor future updates for clarity on contribution timelines from new European assets and margin improvement trajectories.

Extracted from official company announcements. Not StockFin.ai's opinion.

⚖️ Peer Comparison — Entertainment

Company	MCap (₹ Cr)	P/E	ROCE	ROE	D/E
Prime Focus Limited	22,411	-78.0	—	—	—
Sun TV Network Limited	21,089	12.1	—	—	—
Nazara Technologies Limited	11,112	206.9	—	—	—
PVR INOX Limited	9,917	-34.8	—	—	—
Zee Entertainment Enterprises Limited	8,485	16.9	—	—	—
Tips Music Limited	8,266	38.1	—	—	—
Saregama India Limited	8,016	40.4	—	—	—
Network18 Media & Investments Limited	4,968	-2.7	—	—	—
Hathway Cable & Datacom Limited	1,814	19.3	—	—	—
Media Matrix Worldwide Limited	1,667	—	—	—	—

🔗 Peer Stock Analyses

SUNTV NAZARA PVRINOX ZEEL TIPSMUSIC

⚠️ Risk Factors

1) The company's profitability remains highly volatile due to project-based revenue and timing of large contract recoveries, as seen in the swing from ₹190 crore profit in Q4 FY24 to ₹-99 crore loss in Q1 FY25. 2) The international expansion via the Spanish studio acquisition carries integration and execution risks, with no clear timeline for profitability contribution. 3) The complex intra-group restructuring involves regulatory, tax, and operational dependencies that could delay or complicate execution, especially given the reliance on agreed timelines without firm deadlines.

📋 Recent Filings

🧠 Analyst's Read

Prime Focus is actively repositioning toward international animation production, supported by strategic acquisitions and internal restructuring, but financial results remain inconsistent with profitability returning only intermittently. The next critical milestone will be observing how quickly the newly acquired European capabilities contribute to margins and cash flow, as current performance reflects ongoing project volatility and transition costs.

Based on filing content and financial data. Not a recommendation.

✨ Deep Dive with AI on PFOCUS

Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-07-04.

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