Prime Focus Limited (PFOCUS) AI Stock Analysis

• Market Cap: ₹197.68B
• Dividend Yield: N/A
• Average Volume (3M): 677.35K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.26
• Revenue Growth: 16.00%
• EPS Growth: -12.35%
• Country: IN
• Employees: 10,400
• Sector: Services
• Sector Strength: N/A
• Industry: Entertainment
• EPS (TTM): 0.91
• Shares Outstanding: 775,990,540
• 10 Day Avg. Volume: 190,610
• 30 Day Avg. Volume: 677,350
• PEG Ratio: 0.32
• Price to Book (P/B): 3.66
• Price to Sales (P/S): 0.77
• P/FCF Ratio: -5.40
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 56 Neutral
• Price Target: ₹275.00 ▲(12.59% Upside)
• Action: Reiterated Date: 02/06/26
• Date: Action: Reiterated 02/06/26

Strong technical momentum lifts the score, but it is outweighed by weak underlying financial performance (revenue decline, losses, leverage, and negative free cash flow) and a negative P/E that signals earnings pressure.

Positive Factors

End-to-end service offering

Prime Focus’s broad end-to-end services across production, post-production, VFX, animation, localization, and media supply create diversified revenue streams and multiple client touchpoints. This cross-service capability supports resilience to demand shifts, enables cross-sell, and helps sustain utilization across cycles.

Technology-enabled workflows

Ownership of technology-enabled services and specialized pipeline tools provides a structural competitive advantage: it raises switching costs, supports remote/global collaboration, and enables scalable service delivery. Over time this can increase margins on complex work and deepen client relationships.

Scale and global delivery

A ~10,400-strong workforce and global delivery network give Prime Focus capacity to handle large, complex productions and to staff cross-border projects efficiently. Scale supports operational leverage, faster turnaround, and the ability to pursue sizeable studio and OTT contracts requiring global coordination.

Negative Factors

High leverage

The balance sheet shows significant leverage and a low equity ratio, which constrains financial flexibility. High debt increases interest burden and refinancing risk, limiting the company’s ability to invest in technology, pursue strategic M&A, or absorb prolonged project slowdowns without raising external capital.

Weak cash generation

Cash flow statements indicate negative free cash flow and inconsistent operating cash flows in recent years. Poor cash generation forces reliance on external financing, reduces capacity to self-fund capex or working capital, elevates liquidity risk, and undermines the durability of any margin improvements.

Revenue declines & losses

Financial summaries report declining revenues over recent periods and ongoing net losses. Persistent top-line contraction and unprofitability challenge sustained margin recovery, constrain balance sheet repair, and increase execution risk for returning to consistent profitability without structural revenue growth or cost transformation.

Prime Focus Limited Business Overview & Revenue Model

Company Description

Prime Focus Limited, together with its subsidiaries, engages in the motion picture, video, and television program post-production activities primarily in India, the United Kingdom, the United States, and Canada. It offers creative services, including visual effects, advertising, stereo 3D conversion, and feature and TV animation; equipment rental services; and post production services, such as digital intermediate/color grading, sound, and picture post services to the media and entertainment industry. The company also provides technology products comprising CLEAR, a multi-cloud-enabled media enterprise resource planning suite that automates the content supply chain and builds a connected enterprise; clear modules including cloud MAM, Operations Cloud, Broadcast Cloud, Production Cloud, SecureScreener, and Vision Cloud modules, as well as cloud media services for broadcasters, studios, brands, and service providers transformational solutions; cloud media services; and CLEAR solutions. In addition, it is involved in the media and other investment activities; and provision of digital asset management, content restoration, and visual special effects services, as well as operates a training institute. The company provides its services to Hollywood studios, OTT players, broadcasters, advertisers, production houses, and media companies. The company was incorporated in 1997 and is based in Mumbai, India.

How the Company Makes Money

PFOCUS generates revenue through multiple streams, primarily by offering its services on a project basis to clients in the film, television, and advertising sectors. Key revenue streams include fees for visual effects, animation, and post-production services, which are often billed as a combination of fixed-price contracts and time-and-materials arrangements. The company also benefits from strategic partnerships with major studios and production companies, allowing it to secure lucrative contracts and long-term collaborations. Additionally, PFOCUS may explore licensing its proprietary technology and tools, contributing further to its earnings. Overall, the company's ability to maintain high-quality standards and innovate within the industry supports its financial performance.

Prime Focus Limited Financial Statement Overview

Summary

Financial statements point to ongoing pressure: declining revenues and persistent net losses (income statement), high leverage with a low equity ratio (balance sheet), and inconsistent operating cash flow with negative free cash flow in recent years (cash flow).

Income Statement

Prime Focus Limited has faced declining revenues over the past few years, with a significant drop from 2023 to 2025. The company has struggled with profitability, as evidenced by consistent net losses. Gross profit margins have fluctuated, indicating potential volatility in cost management. The EBIT and EBITDA margins show a mixed performance, with some improvement in EBITDA in 2025. Overall, the income statement reflects challenges in sustaining revenue growth and profitability.

Balance Sheet

The balance sheet of Prime Focus Limited shows a high debt-to-equity ratio, indicating significant leverage which could pose financial risks. Stockholders' equity has seen fluctuations, with a slight improvement in the latest year. The equity ratio is relatively low, suggesting limited equity financing. While total assets have grown, the high level of liabilities remains a concern for financial stability.

Cash Flow

Cash flows for Prime Focus Limited indicate challenges in generating positive free cash flow, with negative figures in recent years. Operating cash flow has been inconsistent, impacting the company's liquidity. The free cash flow to net income ratio is unfavorable due to persistent net losses. Overall, the cash flow statement highlights liquidity concerns and challenges in sustaining cash generation.

Breakdown	TTM	Mar 2025	Mar 2023	Mar 2022	Mar 2021	Mar 2020
Income Statement
Total Revenue	37.80B	35.99B	39.30B	33.69B	25.30B	28.88B
Gross Profit	11.51B	2.81B	35.72B	31.58B	23.91B	27.22B
EBITDA	9.39B	6.32B	4.70B	7.00B	6.40B	4.28B
Net Income	-1.96B	-3.77B	-4.05B	-1.72B	-434.00M	-1.31B
Balance Sheet
Total Assets	0.00	85.26B	71.27B	56.78B	53.64B	50.15B
Cash, Cash Equivalents and Short-Term Investments	3.71B	3.71B	2.89B	2.39B	3.78B	2.60B
Total Debt	0.00	48.79B	48.59B	42.32B	39.04B	33.71B
Total Liabilities	-20.43B	64.82B	63.51B	54.86B	50.17B	45.38B
Stockholders Equity	20.43B	7.59B	5.16B	1.14B	2.67B	3.92B
Cash Flow
Free Cash Flow	0.00	-5.14B	-3.38B	981.70M	2.17B	3.71B
Operating Cash Flow	0.00	-1.49B	-326.70M	1.83B	3.28B	5.22B
Investing Cash Flow	0.00	-4.03B	-3.17B	-797.20M	-1.04B	-1.54B
Financing Cash Flow	0.00	6.24B	3.35B	-2.32B	-1.14B	-2.01B

Prime Focus Limited Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 244.25
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:PFOCUS, the sentiment is Neutral. The current price of 244.25 is below the 20-day moving average (MA) of 265.45, above the 50-day MA of 244.08, and above the 200-day MA of 179.52, indicating a neutral trend. The MACD of 7.65 indicates Positive momentum. The RSI at 49.09 is Neutral, neither overbought nor oversold. The STOCH value of 22.60 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:PFOCUS.

Prime Focus Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TVSSRICHAK	66 Neutral	₹30.13B	67.36	―	0.40%	8.03%	-57.44%
ZEEMEDIA	57 Neutral	₹5.28B	-63.36	―	―	3.58%	18.64%
PFOCUS	56 Neutral	₹197.68B	-54.96	―	―	16.00%	-12.35%
Sector *	55 Neutral	$13.29B	17.42	10.03%	0.93%	7.13%	-12.93%
NDTV	45 Neutral	₹8.96B	-2.10	―	―	19.53%	-138.48%

Prime Focus Limited Corporate Events

Prime Focus Files Q3 FY26 Investor Presentation With Stock Exchanges

Prime Focus Limited has submitted its investor presentation for the third quarter of FY26 to the National Stock Exchange of India and BSE and has made the document available on its corporate website. The filing is a regulatory intimation to shareholders and the market, signaling continued disclosure on the company’s quarterly performance and outlook, though no specific financial or operational details are included in the announcement itself.

Prime Focus posts modest Q3 profit as board approves December quarter results

Prime Focus Limited reported its unaudited standalone and consolidated financial results for the third quarter and nine months ended 31 December 2025, following approval by the board of directors at its 27 January 2026 meeting. The company posted modest standalone net profit of Rs 12.41 lakh for the quarter after a period of losses, on total income of Rs 1,450.47 lakh, with high depreciation and finance costs continuing to weigh on margins; for the nine-month period, results reflect the impact of earlier exceptional gains that had significantly boosted profitability in the prior year. The board-approved figures, reviewed by statutory auditors, have been released to the stock exchanges and published on the company’s website, providing investors and other stakeholders with updated visibility on the company’s operating performance and cost structure ahead of the full-year results.

Prime Focus Designates Key Executives to Oversee Market-Linked Disclosures

Prime Focus Limited has updated its governance framework for regulatory disclosures by authorising specific key managerial personnel to assess and disclose material events and information to the stock exchanges under SEBI’s Listing Obligations and Disclosure Requirements Regulations, 2015. At a board meeting held on January 27, 2026, the company empowered Chairman and Whole-Time Director Naresh Malhotra, Chief Financial Officer Vikas Rathee, and Company Secretary and Compliance Officer Parina Shah to determine the materiality of corporate events and ensure timely communication to BSE and NSE, a move that reinforces compliance, transparency, and accountability in its market disclosures for investors and other stakeholders.

Prime Focus Board Clears Q3 FY26 Unaudited Results, Swings to Quarterly Profit

Prime Focus Limited’s board has approved the unaudited standalone and consolidated financial results for the third quarter and nine months ended December 31, 2025. The results, reviewed by the statutory auditors, show a modest standalone net profit for the quarter, reversing a loss in the prior-year period, while total income and expenses reflect the company’s ongoing scale of operations. The board also noted the impact of earlier recognised exceptional income on the year-to-date figures, which has significantly boosted profitability for the nine-month period compared with the previous year. The financial results have been released to stock exchanges, posted on the company’s website and will be published in newspapers, providing greater transparency for shareholders and other market participants ahead of the full-year audited numbers.

Prime Focus Auditor Converts to LLP, Continues Statutory Role

Prime Focus Limited has disclosed that its statutory auditor, M S K A & Associates, Chartered Accountants, has converted its practice into a Limited Liability Partnership under the Limited Liability Partnership Act, 2008, and will now operate as M S K A & Associates LLP, Chartered Accountants. The firm will continue to serve as Prime Focus’s statutory auditor for the remainder of its existing appointment term, indicating continuity in the company’s audit oversight and no immediate disruption to its statutory audit processes or compliance framework.

Prime Focus Limited Secures Trading Approval for Equity Shares

Prime Focus Limited has received trading approval from the BSE and NSE for 46,26,68,572 equity shares, each valued at Re. 1, issued on a preferential basis. This approval marks a significant step in the company’s capital market activities, potentially enhancing its financial flexibility and market positioning.

Prime Focus Limited Announces Key Board and Management Changes

Prime Focus Limited announced significant changes in its board and management team, including the resignation of Non-Executive Director Merzin Darayus Tavaria and Chief Financial Officer Nishant Avinash Fadia, both citing professional commitments as their reason for departure. The company has appointed Shalini Govil Pai as an Additional Non-Executive Independent Director and Vikas Rathee as the new CFO, effective November 13, 2025. These changes are part of the company’s strategic efforts to strengthen its leadership team and continue its growth trajectory.

Prime Focus Limited Announces Key Leadership Changes and Financial Results

Prime Focus Limited announced significant changes in its leadership team, including the appointment of Vikas Rathee as the new Chief Financial Officer effective November 13, 2025. The Board of Directors also approved the unaudited financial results for the second quarter and half-year ending September 30, 2025, and made several key appointments and resignations, including the addition of Ms. Shalini Govil Pai as an independent director and the resignation of Mr. Merzin Darayus Tavaria as a non-executive director. These changes reflect the company’s strategic adjustments to enhance its governance and operational efficiency.

Prime Focus Limited Announces Leadership Changes and Financial Results

Prime Focus Limited announced several key changes in its leadership and financial reporting. Nishant Avinash Fadia has resigned as Chief Financial Officer, and Vikas Rathee has been appointed as his successor. Additionally, the company reported its unaudited financial results for the second quarter and half-year ending September 30, 2025, and appointed Ms. Shalini Govil Pai as an Additional Non-Executive Independent Director. These changes are part of the company’s ongoing efforts to strengthen its management team and align with its strategic goals.

Prime Focus Limited Announces Key Board and Management Changes

Prime Focus Limited announced several key changes in its board and management, including the appointment of Nishant Avinash Fadia as an Additional Non-Executive Director and Vikas Rathee as the new Chief Financial Officer. The company also reported its unaudited financial results for the second quarter and half-year ending September 30, 2025, which were approved by the Board of Directors. These changes reflect the company’s strategic efforts to strengthen its leadership team and enhance its financial oversight, potentially impacting its operational efficiency and market positioning.

Prime Focus Limited Announces Key Board and Executive Changes

Prime Focus Limited announced several key changes in its board and executive team, effective November 12, 2025. Ms. Shalini Govil Pai has been appointed as an Additional Non-Executive Independent Director, while Mr. Merzin Darayus Tavaria and Mr. Nishant Avinash Fadia have resigned from their positions due to other professional commitments. Mr. Vikas Rathee has been appointed as the new Chief Financial Officer, and Mr. Nishant Avinash Fadia will assume a new role as an Additional Non-Executive Director. These changes are part of the company’s strategic efforts to strengthen its leadership and align with regulatory requirements, potentially impacting its operational efficiency and stakeholder relations.

Prime Focus Limited Strengthens Leadership with Key Appointments

Prime Focus Limited has announced key leadership changes to support its growth in the evolving entertainment industry. The company has appointed Ms. Shalini Govil-Pai as an Independent Director, Mr. Nishant Fadia as a Non-Executive Director, and Mr. Vikas Rathee as the new Chief Financial Officer. These appointments are aimed at strengthening the company’s leadership position and enhancing its technological and creative capabilities.