1. Opening Hook
While most companies were still explaining why growth was “back-end loaded,” Phantom casually showed up with 140% revenue growth and an Oscar-heavy guest list.
Somewhere between AI-generated Mickey Mouse clips and Hollywood name-dropping, the management made one thing clear: this is no longer a Chennai VFX shop—it’s a global creative machine wearing an Indian balance sheet.
Milk, Lola, Tippett, AI tools, and margins north of 30%—all served in one call, without the usual “macro headwinds” excuse.
Receivables are improving, pipelines are stacked, and management confidence is… cinematic.
Read on, because behind the VFX glamour lies a very real question: can Phantom scale without turning into a CGI soap opera? 🎬
2. At a Glance
- Revenue up 141% YoY – Blink and you missed the base effect apology.
- EBITDA margin at 32.4% – Hollywood budgets, Indian cost base—chef’s kiss.
- PAT margin at 23.4% – Not VFX illusion, actual profitability.
- Order book ₹201 Cr – Work locked in, popcorn ready.
- Bidding pipeline ₹817 Cr – Everyone’s pitching, Phantom’s invited everywhere.
- EPS ₹13.87 vs ₹6.09 – Shareholders finally got their VFX upgrade.
3. Management’s Key Commentary
“This is not just an acquisition, it’s the addition of a culture of excellence.”
(Translation: We didn’t just buy Milk, we bought its Oscars.) 😏
“Phantom is no longer an Indian company in the global arena.”
(Translation: Please stop benchmarking us like an SME.)
“AI is a tool, not a replacement for VFX artists.”
(Translation: Relax, no pink slips—yet.)
“PMG allows us to pitch as American, European, or Indian.”
(Translation: Same engine, different showroom.)
“We are light years ahead in AI integration.”
*(Translation: At least compared to studios still debating ChatGPT.) 🚀
“We expect ₹240 Cr revenue in FY26,
