Any current/future new fundraising through debt or equity?

The company mentioned plans to use IPO proceeds for setting up facilities to accommodate 2,000 employees by FY 23-24 H1. They have already taken a working capital limit from Axis Bank, indicating ongoing utilization of debt (long-term borrowings stood at 29.22 million). No explicit mention of any new or upcoming fundraising through additional debt or equity was made during the call. Focus appears to be on utilizing existing funds, IPO proceeds, and bank credit facilities for expansion and scaling up operations. The management is still working on Capex plans for the expansion, indicating no fin

Any current/future capex/capital investment/strategic investment?

Phantom Digital Effects is working on capital expenditure related to expanding capacity for around 2,000 employees, with plans to set up new facilities in multiple locations including Mumbai (adding 250 members), Chennai (600 members), Hyderabad (100 members), and Cochin (100 members). The IPO proceeds are intended to fund this capacity expansion and the related capex, targeted for completion by FY 23-24 first half. The company is investing in setting up offices in Los Angeles and Vancouver to increase access to higher-margin North American and European projects. Phantom is developing its tech

Future growth expectations in sales/revenue/volumes?

Phantom aims to double its turnover by FY24 from FY23 levels. The company plans to increase manpower significantly, aiming for 2,000 employees by 2024. Growth is expected to be largely linear with manpower expansion. Target revenue CAGR of around 30% per year over the next five years is anticipated. International business (North America, Europe) is a strategic focus due to better profit margins, targeting at least 50% revenue from international operations. Expansion with new offices in Los Angeles, Vancouver, Hyderabad, Mumbai, Chennai, and Cochin to tap into regional markets and tal

Future growth expectations in earnings/operating earnings/profits/EPS?

Phantom Digital Effects aims to double its turnover by FY24, indicating strong top-line growth expectations. Profitability for FY24 and FY25 is forecasted with a possible 5-10% variation compared to H1 FY23 results, maintaining or slightly improving margins. The company expects a CAGR of around 30% revenue growth annually over the next five years. PAT margin improved from 21.95% in FY22 to 30.85% in H1 FY23, signaling operating profit expansion. Expanding international business (targeting at least 50% revenue) with better profit margins is a key strategy for increasing profitability. USD appre

Current/ Expected Orderbook/ Pending Orders?

Current order book is approximately INR 60 crores. These orders are to be completed over a period of six to nine months. Revenue from these orders will spill over into the next financial year as well. About 50% of these orders (around INR 30 crores) are expected to be realized in the second half of the current financial year. Additionally, a recent new order of INR 10 crores was announced. The order size varies significantly, from a minimum of INR 1 million to as high as INR 20 crores per project.

Phantom DigitalQ2 FY23Entertainment

Phantom Digital Q2 FY23 Earnings Call Analysis

Revenue, margin, capex, fundraise and order book outlook from management commentary.

Price: ₹71.75P/E: 3.5Market Cap: ₹114 CrSector: Entertainment

Management growth scorecard

Revenue

Category 2

Margin

Category 1

Fundraise

Yes

Order

N/A

Capex

Yes

3 of 4 growth signals are positive.

Full analysis

Revenue guidance

Category 2

Phantom aims to double its turnover by FY24 from FY23 levels.
The company plans to increase manpower significantly, aiming for 2,000 employees by 2024.
Growth is expected to be largely linear with manpower expansion.
Target revenue CAGR of around 30% per year over the next five years is anticipated.
International business (North America, Europe) is a strategic focus due to better profit margins, targeting at least 50% revenue from international operations.
Expansion with new offices in Los Angeles, Vancouver, Hyderabad, Mumbai, Chennai, and Cochin to tap into regional markets and talent.
Growing OTT and content creation demand post-pandemic supports increased volume and revenue growth.
Increasing government support in India for the AVGC sector enhances future growth prospects.

Margin guidance

Category 1

Phantom Digital Effects aims to double its turnover by FY24, indicating strong top-line growth expectations.
Profitability for FY24 and FY25 is forecasted with a possible 5-10% variation compared to H1 FY23 results, maintaining or slightly improving margins.
The company expects a CAGR of around 30% revenue growth annually over the next five years.
PAT margin improved from 21.95% in FY22 to 30.85% in H1 FY23, signaling operating profit expansion.
Expanding international business (targeting at least 50% revenue) with better profit margins is a key strategy for increasing profitability.
USD appreciation is expected to contribute an additional 0.5% to turnover, supporting earnings.
Growth will be supported by scaling headcount to 2,000 employees and expanding overseas offices in LA and Vancouver.

See what Phantom Digital management said on margin guidance — free account, 30 seconds.

Fundraise plans

Yes

The company mentioned plans to use IPO proceeds for setting up facilities to accommodate 2,000 employees by FY 23-24 H1.
They have already taken a working capital limit from Axis Bank, indicating ongoing utilization of debt (long-term borrowings stood at 29.22 million).
No explicit mention of any new or upcoming fundraising through additional debt or equity was made during the call.
Focus appears to be on utilizing existing funds, IPO proceeds, and bank credit facilities for expansion and scaling up operations.
The management is still working on Capex plans for the expansion, indicating no finalized or announced external fundraising beyond IPO and present bank borrowings as of the call date (November 18, 2022).

Order book

Current order book is approximately INR 60 crores.
These orders are to be completed over a period of six to nine months.
Revenue from these orders will spill over into the next financial year as well.
About 50% of these orders (around INR 30 crores) are expected to be realized in the second half of the current financial year.
Additionally, a recent new order of INR 10 crores was announced.
The order size varies significantly, from a minimum of INR 1 million to as high as INR 20 crores per project.

See what Phantom Digital management said on order book — free account, 30 seconds.

Capex plans

Yes

Phantom Digital Effects is working on capital expenditure related to expanding capacity for around 2,000 employees, with plans to set up new facilities in multiple locations including Mumbai (adding 250 members), Chennai (600 members), Hyderabad (100 members), and Cochin (100 members).
The IPO proceeds are intended to fund this capacity expansion and the related capex, targeted for completion by FY 23-24 first half.
The company is investing in setting up offices in Los Angeles and Vancouver to increase access to higher-margin North American and European projects.
Phantom is developing its technology team to enter game development and metaverse production.
A future plan includes establishing a VFX training academy/institution to generate skilled manpower and potentially become a new revenue model through training fees.
Marketing investments are ongoing for overseas offices, including hiring executive producers and marketing personnel.

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How does Phantom Digital rank vs peers in Entertainment?

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What Phantom Digital's management said in earlier quarters

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