Digikore Studios Ltd H1 FY26 Concall Decoded – “AI, VFX, and a ₹45 Crore Reality Check”

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 the Bible says — “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