Basilic Fly Studio Reports Robust H1' 26 Performance; New wins, Overseas Business Power Revenue & PAT Growth

PNN
Chennai (Tamil Nadu) [India], November 13: Basilic Fly Studio Limited (BFS), a pioneering force in the world of visual effects (VFX), renowned for creating immersive and high-impact visual experiences, today has announced its unaudited financial results for Q2 & H1 FY'26.
BFS concluded H1 FY '26 with outstanding financial and operational milestones, achieving a 2.5x revenue growth YoY to ₹190.5 Cr (vs ₹77.4 Cr in H1 FY '25), alongside a 107.0% increase in EBITDA and 117.1% surge in PAT. New wins drive India business growth, & Overseas business growth is driven by full 6 months consolidation in the current year vs 2 months in the last year H1 (Acquisition by the end of Jul 24)
₹85 Cr raised via QIP (Sep '25) is fueling the next phase of growth via AI advancement, technology investment and organic growth initiatives. After successfully completing phase 1 of the tech integration in March 2025, phase 2 integration is in full swing. Onboarded 4 Senior leadership roles in Business development (Adrian, Audrey, Marianne, & Theresa) & 5 Ops leadership roles (Global Ops head, Head of Studio India, HOP India, HOD Tracking, & Head of Technology) to drive growth across India & overseas business. Focused on leveraging cost arbitrage, the delivery started, and a new Bengaluru branch was proposed ahead of schedule.
Key Consolidated Financial Highlights- ₹ Crore
Q2 FY26 Performance
* Total Income of ₹95.1 crore, YoY growth of 64.8%
* EBITDA of ₹21.0 crore, YoY growth of 106.9%
* EBITDA Margin (%) at 22.1%, YoY improvement of 449 bps
* PAT of ₹14.7 crore, YoY growth of 166.7%
* PAT Margin (%) at 15.4%, YoY improvement of 589 bps
* EPS of ₹6.0, YoY growth of 135.7%
* DSO reduced by 40 days YoY to 100 days
* Cash Surplus of ₹48.3 crore vs. Net Debt of ₹(8.5) crore in Q2 FY25 -- an improvement of ₹66.9 crore
* Cash flow from operations stood at ₹(17.1) crore, compared to ₹3.0 crore in H1 FY25
H1 FY26 Performance
* Total Income of ₹190.5 crore in H1 FY26, YoY growth of 146.3%
* EBITDA of ₹38.7 crore, YoY growth of 107.0%
* EBITDA Margin (%) at 20.3%, YoY decline of 386 bps
* PAT of ₹26.8 crore, YoY growth of 117.1%
* PAT Margin (%) at 14.0%, YoY decline of 189 bps
* EPS of ₹10.2, YoY growth of 104.5%
* DSO reduced by 98 days YoY to 92 days
* Cash Surplus of ₹48.3 crore vs. Net Debt of ₹(18.5) crore in H1 FY25 -- an improvement of ₹66.9 crore
* Cash flow from operations stood at ₹(17.1) crore, compared to ₹3.0 crore in H1 FY25
H1 FY'26 Highlights - Consol
* Revenue: ₹190.5 Cr (+146.3% YoY) - Growth across geographies
* EBITDA: ₹38.7 Cr (+107.0% YoY) - More Growth in high-margin India business.
* PAT: ₹26.8 Cr (+117.1% YoY) - India Standalone H1'26 PAT of ₹ 17.2 Cr, vs last FY'25 ₹ 18.3 Cr (94% of last year achieved in H1'26)
* Days Sales Outstanding (DSO) at 92 days as of H1 FY '26, an improvement of 98 days from H1 FY '25, reflecting better collection efficiency.
* A substantial net cash surplus (Cash - Total Debt) position, achieved by raising ₹85 Cr in the QIP fund in Sep, positions the company to drive the next phase of growth through inorganic acquisitions, investments in business development roles & tech to drive organic growth.
* Cash flow is -ve due to an increase in working capital by "No dues debtors- ₹ 29.8 Cr" by higher volumes towards the end of H1.
Commenting on the performance, Mr Balakrishnan, Managing Director & CEO of Basilic Fly Studio Limited, said:
"The first half of FY26 marked an intense phase of growth and consolidation for Basilic Fly Studio. We delivered strong financial results, with over 2.5 times year-on-year revenue growth, resulting in robust EBITDA & PAT. Growth was driven by improved volumes and new wins for the India business, as well as strategic integration with our global subsidiary, One of Us. We continued to strengthen our global delivery network, expand client partnerships, and enhance our creative and technical capabilities. The business maintained healthy momentum with a growing project pipeline and new global mandates, including another significant engagement with Netflix. The appointment of Adrian De Wet as Visual Effects Supervisor and Creative Director in Los Angeles further reinforces our leadership depth as we scale operations across North America through One of Us.
This performance highlights the growing trust of leading production houses, including Netflix, Disney, Amazon, and HBO, as well as the strength of our technology-led creative network. As the global content ecosystem accelerates, we continue to invest in AI-driven production workflows, scalable talent, and global capacity expansion across India, Europe and North America. With our integrated, innovation-first model, Basilic Fly Studio is well-positioned to sustain momentum and create long-term value for our shareholders and partners.
Looking ahead, our focus is on scaling talent, expanding global capacity, and deepening our technology investments. We plan to significantly increase our artist base, strengthen our presence across the UK, Europe, Canada, and the US, and diversify into gaming cinematics and immersive content. Under Vision 2026-27, we aim to build a truly multi-location, AI-augmented VFX network that combines creative excellence, advanced automation, and global delivery strength to drive sustainable growth and long-term value creation."

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