🎥 At a Glance (50 words)

Moving Media Entertainment is renting out REDs and Canons to Bollywood while trying to film an IPO climax of ₹43.4 Cr at ₹66–70. With 59% revenue growth and a PAT margin of 28%, it’s one of the few SME plays with cinematic margins — but debt and dilution could spoil the take.

🎬 1. What Does Moving Media Actually Do?

Contrary to the name, they don’t produce movies.

They rent the gear to the ones who do.

• 🎥 High-end cameras (RED, Arri, Sony)
• 📸 Lenses, lighting, sound equipment
• 🪄 Filters, gimbals, stabilizers, monitors

They serve:

• Film production houses
• TV networks & web series
• Ad agencies & event managers

📦 Inventory is owned — not subleased. That’s a key moat.

🧾 Their clientele includes:

• Star India Pvt. Ltd.
• Sunshine Pictures
• Celebframe, Colosceum Media, SOL Productions

🎯 Their USP? Bollywood-style gear, without Bollywood-style delays.

🎯 2. What’s the IPO Money Being Used For?

They want to raise ₹43.4 Cr. Here’s the script:

✅ Clear capex + cleanup strategy.
⚠️ But ₹41.6 Cr debt already? Lights, camera, leverage!

🧾 3. Financials – Are These Cinematic or CGI?

FY23 → FY24 → FY25 (₹ Cr)

🧨 PAT growth flattened in FY25 but EBITDA jumped — likely due to high depreciation on new equipment.

🎬 EBITDA Margin = 77%
🍿 PAT Margin = 28%

That’s Netflix-level margin in an SME avatar.

🧮 4. Valuation – Is ₹70 a Blockbuster or Budget?

Post-Issue Metrics

• 🏷️ Market Cap: ₹131.64 Cr
• 📈 Post-EPS: ₹5.53
• 📊 P/E (Post): 12.66x
• 📚 P/B: 2.24x
• 💥 RoNW: 26.35%
• ⚖️ Debt/Equity: 1.05

Peer comps?

• Cine Equipment SMEs don’t exist
• Film production firms usually trade at 15–20x P/E

🎯 FV Range = ₹55 – ₹78

Based on 10–14x on ₹5.53 EPS

At ₹70, it’s not cheap, but reasonable if FY25 sustains.

🎭 5. Strengths vs Red Flags – Behind the Scenes

✅ Strengths

• 🎥 Owns high-end gear (not rented)
• 📈 High EBITDA margin
• 💼 Big-name clients
• 🏭 Solid asset base = scalable ops
• 🔄 Repeat business from major networks

❌ Weaknesses

• 💣 ₹41 Cr debt = gear bought on EMI?
• ⚠️ PAT barely grew despite 59% revenue jump
• 👩‍💼 Only 16 employees — very thin ops
• 🏷️ SME IPO, so post-listing liquidity risk
• 🧾 Heavy depreciation cycle from constant gear upgrades

🗓️ 6. IPO Details – Frame by Frame

📝 Bidding opens June 26. Cut-off bid highly recommended.

🍿 7. EduInvesting Verdict – Should You Subscribe or Skip the Credits?

This is one of the rarest SME stories with actual operating leverage, recurring revenue, and real clients.

But…

• Flat PAT in FY25
• Debt-heavy books
• Low headcount
• ₹70 pricing assumes zero camera downtime risk — which isn’t realistic

🎬 Verdict:

• Apply only if you’re bullish on India’s content boom (and confident Bollywood won’t cancel every second shoot).
• Solid niche, good margins — just be ready for FY26 drama.

🏷️ Tags:

Moving Media IPO, SME Entertainment IPO, camera rental IPO, Gretex IPO review, July 2025 IPOs, media infra stock, Bollywood IPO, NSE SME camera stock

✍️ Written by Prashant | 📅 June 23, 2025