1. Opening Hook
As Hollywood crawls back from its longest strike since the dinosaurs freelanced as extras, Digikore is suddenly the comeback kid. From barely surviving post-strike silence to talking AI pipelines and Unreal Engine side hustles, this Bhilwara-born VFX maverick now thinks like a Silicon Valley start-up with rendering software. Abhishek More calls it “offense mode.” We call it “hope in high definition.”
As theBiblesays —“Let there be light.”Digikore added LEDs, virtual stages, and a ₹45 crore QIP to that divine setup. Keep reading — the script gets wilder from here. 🎬
2. At a Glance
- Revenue ₹36.1 Cr (↑59.6%)– Strike’s over, post-production’s back.
- PAT ₹6.1 Cr (↑117%)– Double the profit, double the popcorn.
- Opex Ratio 78.6% (↓440 bps)– Cost control finally got screen time.
- Order Book ₹20 Cr+– Fresh projects rolling faster than sequels.
- QIP ₹45 Cr + Promoter Warrants ₹20 Cr– Balance sheet bulking montage.
- Export Focus:100+ client meets, Europe now the “main character.”
3. Management’s Key Commentary
“Tough times don’t last; tough teams do.”(Translation: The strikes nearly killed us, but caffeine didn’t.)☕
“Revenue up 59.6%, PAT up 117%.”(Translation: We’ve officially left the ‘survival arc.’)
“We’re approved by Disney, Marvel, Netflix, Amazon, HBO.”(Translation: Hollywood’s big six swiped right on us.)😏
“QIP of ₹45 Cr and promoter warrants of ₹20 Cr will fuel growth.”(Translation: Investors, hold our render farms.)
“We’re aggressively expanding in Europe; New York subsidiary incoming.”(Translation: When in doubt, open another office.)
“We’re building AI-assisted roto and cleanup tools.”(Translation: Why fear AI when you can hire it?) 🤖
“Others are selling rice; we’re selling biryani.”(Translation: Same grains, more garnish, better margins.)
4. Numbers Decoded
| Metric | H1 FY26 | H1 FY25 | Change | Commentary |
|---|---|---|---|---|
| Revenue | ₹36.13 Cr | ₹22.62 Cr | +59.6% | Post-strike surge |
| PAT | ₹6.11 Cr | ₹2.82 Cr | +117% | Margin magic |
| Opex % of Revenue | 78.6% | 83% | -440 bps | Cost discipline |
| Order Book | ₹20 Cr+ | — | — | Solid H2 visibility |
| Bidding Pipeline | ₹35 Cr | — | — | 25–30% conversion expected |
| Debt | ₹40 Cr | — | — | To be trimmed via QIP |
| PAT Margin | 17% | 12% | ↑ | Higher quality work mix |
➡ AI, branded content, and virtual production now account for ~20% of revenues — the “non-linear upside.”
5. Analyst Questions
Q:What drives 30%+ CAGR guidance till FY28?A:Pent-up global demand + fewer surviving VFX houses = bigger pie slice.(Darwin would approve.)
Q:H2 better than H1?A:“We’ll likely beat guidance.”(Optimism renders in 4K.)
Q:Is AI a threat to VFX?A:“AI helps us, not kills us.”(Tell that to ChatGPT, boss.)
Q:Why Europe focus?A:“Bigger pie, better pay.”(Also fewer Marvel deadlines.)
Q:Acquisitions?A:“Not now. Don’t want a white elephant with VFX bills.” 🐘
6. Guidance & Outlook
Digikore targets₹100 crore revenue by FY28, with30%+ CAGR, thanks to post-strike demand and new business lines.QIP ₹45 Cr: ₹20 Cr for debt repayment, ₹22 Cr for scaling Europe/US teams.
