PhantomFX Posts Strong H1 FY26 With 141% Income Surge

Phantom Digital Effects Limited (NSE: PHANTOMFX), a leading global visual effects (VFX) studio, has delivered an exceptional operational and financial performance for the first half of FY26. With a strong surge in demand across key international markets, the company recorded significant growth in revenue, profitability, and project visibility during the period.

Robust Financial Growth in H1 FY26

For the six months ended FY26, PhantomFX reported a Total Income of ₹8,829.50 lakhs, marking a remarkable 140.91% year-on-year increase compared to ₹3,665.12 lakhs in H1 FY25. The company also posted EBITDA of ₹2,862.27 lakhs, up 75.39% from the previous year, supported by enhanced production efficiencies and operational scalability.

Profit After Tax surged to ₹2,068.55 lakhs, a strong 149.99% YoY growth, while the PAT margin improved to 23.43%. EPS nearly doubled to ₹13.87, reflecting PhantomFX’s sustained financial momentum and consistent value creation for shareholders.

Strong Business Momentum and Global Visibility

The company’s consolidated order book stood at ₹201.32 crore as of 31 October 2025, supported by a wide variety of projects spanning India, North America, Europe, and Asia. Recently consolidated financials from Tippett Studios (from July 2025) and Milk Visual Effects, including Lola Post Production Limited (effective October 2025), have further strengthened PhantomFX’s global scale and operational visibility.

The company continues to experience robust traction across domestic, international, and OTT assignments. Its subsidiaries—including Tippett Studios, Milk VFX, Spectre Post, and Hangzhou Huangtong Technology—are contributing significantly to ongoing deliveries.

High-Profile Project Deliveries

During H1, PhantomFX delivered several major projects such as Kantara 2, War 2, Thandel, Saare Jahan Se Accha, Coolie, Fengshen 2 – Creation of the Gods II: Demon Force, Marvel’s Ironheart, Alien: Romulus, and Star Wars: Skeleton Crew.

The upcoming pipeline includes assignments for Walt Disney, Amazon Studios, BBC, Netflix, Prime Video, Lucasfilm, ITV Studios, and several large Indian productions—including the next film by S.S. Rajamouli.

Healthy Collections and Receivables

Consolidated receivables as of September 2025 stood at ₹79.02 crore, with ₹13.93 crore realized during October–November. These strong collections underscore the company’s disciplined billing cycles and strong client relationships across markets.

Strategic Expansion Under Phantom Media Group (PMG)

PhantomFX has unified all its creative studios—Milk VFX, Tippett Studio, Lola Post, PhantomFX, and Spectre Post—under the new brand umbrella Phantom Media Group (PMG). This strategic consolidation strengthens the company's integrated service offerings across VFX, animation, and post-production.

The establishment of Phantom China expands the company's reach into one of the fastest-growing entertainment markets, while Spectre Post is enhancing PhantomFX’s presence among regional and independent creators.

Leadership Perspective

Commenting on the strong performance, Mr. Bejoy Arputharaj, Founder & Managing Director, highlighted that H1 FY26 marks a transformative phase in PhantomFX’s growth journey. He emphasized the company’s strengthened global presence, enhanced creative capabilities, and expanding multi-market client base.

He further noted that the consolidation of global studios and expansion into new territories positions PhantomFX for sustained growth, stronger innovation, and deeper value creation in the evolving global entertainment landscape.