- POSITIVE
Annual Revenue Digikore Studios Mar-2026 Annual Revenue is Rs 67 Cr which is growth of 85.3% YoY.
- POSITIVE
Annual Net Profit Digikore Studios Mar-2026 Annual Net Profit is Rs 9 Cr which is growth of 217.4% YoY.

Digikore Studios, founded on July 25, 2000, specializes in cost-effective visual effects (VFX) for a wide array of projects, including films, web and TV series, documentaries, and commercials
| Bidding Dates |
|---|
| 25 Sep 2023 - 27 Sep 2023 |
| Subscription |
|---|
| 243.12x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹136,800 | 1 | 1 | 800 | 1.8 M | ₹168 - ₹171 | 71.85 % | ₹299.4 M - ₹304.8 M | RHP DOC |
Digikore Studios IPO SUBSCRIPTION STATUS
27 Sep '23Total243.12x
Retail Individual Investor456.33x
HNI (NII) Investors448.2x
Qualified Institutional Buyers32.35x
Digikore Studios IPO overall subscription rate was 243.12 times the total available shares
Digikore Studios IPO retail subscription rate was 456.33 times in the retail segment
Digikore Studios IPO non-institutional investor subscription rate was 448.2 times in the non-institutional investor category
Digikore Studios IPO Qualified Institutional Bidder subscription rate was 32.35 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
27 Sep 2023 (Day 3) | 456.33x | 448.2x | 32.35x |
26 Sep 2023 (Day 2) | 157.49x | 57.39x | 3.73x |
25 Sep 2023 (Day 1) | 40.35x | 19.43x | 3.49x |
Digikore Studios FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| Q1FY24 | 28.0 | 118.3 | -21.4 | -26.6 | 37.2% |
| FY23 | 43.7 | 344.4 | 12.3 | -18.7 | 21.0% |
| FY22 | 4.7 | 248.8 | 41.7 | 18.8 | 9.5% |
| FY21 | 0.2 | 48.7 | 18.7 | 17.7 | 16.5% |
Digikore Studios IPO SUBSCRIPTION STATUS DETAILS
Digikore Studios had 1.8 M shares on offer
Digikore Studios IPO offer price was in the range ₹168 - ₹171
Digikore Studios IPO minimum Investment was ₹136800
Digikore Studios IPO issue size was ₹ 299.4 M - ₹ 304.8 M
Digikore Studios had a minimum lot size of 800 Shares per application
Digikore Studios NUMBER OF SHARES ON OFFER
Total1.8 M
Fresh Issue1.3 M
Offer for Sale521.6 K
Post Issue Promoter Holding %71.85 %
Digikore Studios IPO IMPORTANT DATES
| Issue Open Date | 25 Sep 2023 |
| Issue close Date | 27 Sep 2023 |
| Allotment Date | 29 Sep 2023 |
| Refund Date | 03 Oct 2023 |
| Demat Account Credit Date | 03 Oct 2023 |
| Listing Date | 04 Oct 2023 |
| Listing on Exchange(s) | NSE |
| Digikore Studios Allotment Status | Exchange |
Digikore Studios IPO subscription opened on 25 Sep 2023, and closed on 27 Sep 2023
IPO allotment for Digikore Studios was finalized on Friday, 29 Sep 2023
IPO listing for Digikore Studios was on NSE on Wednesday, 04 Oct 2023
Digikore Studios IPO LISTING GAINS
| Issue Price (adjusted) | 85.5 |
| Listing Open Price | 270.0 |
| Listing Close Price | 283.5 |
| Listing Gain% | 57.9% |
| Current Gain% | -59.0% |
Digikore Studios Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Digikore Studios Ltd. | 35 | 22.2 | 3.5 | 0 | 0.3 | 26.5 | 10.9 | 70.9 | 91.5 | 12.6 | 275.4 | 10 | -187.7 |
| Prime Focus Ltd. | 321.8 | 25060.9 | 166 | 0.9 | 5.1 | 14.4 | 2.8 | 4783.4 | 25 | 301.4 | 179.9 | 1.9 | 177 |
| PVR INOX Ltd. | 1229.1 | 12069.8 | 27.1 | 0.1 | 1.8 | 4.5 | 2.1 | 6829.7 | 14.7 | 334.1 | 219.5 | 45.3 | 387 |
| Saregama India Ltd. | 492.2 | 9490.1 | 43 | 5.2 | 9.1 | 13.1 | 8.9 | 1026.9 | -16.5 | 207.1 | 1.4 | 11.4 | 8.2 |
| Tips Music Ltd. | 666.9 | 8525.1 | 39.7 | 1.5 | 21.6 | 83.4 | 59.9 | 394.3 | 19.6 | 216.7 | 30.1 | 16.8 | 27.1 |
| Panorama Studios International Ltd. | 63.6 | 1578.8 | 74.8 | -1.5 | 4.4 | 4.5 | 1.2 | 317.4 | -13.9 | 10 | -76.2 | 0.9 | -50.1 |
Annual
Balance Sheet
Ratios
Cash Flow
Digikore Studios annual results: revenue, profit, P&L, and margins as of Mar 2026 – 11 year history
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| Indicator | Graph | CAGR 3 Yrs | CAGR 5 Yrs | Mar '26 | Mar '25 | Mar '24 | Mar '23 | Mar '22 | Mar '21 |
|---|---|---|---|---|---|---|---|---|---|
23.7% | 61.2% | 67.4 | 36.4 | 47.4 | 35.6 | 24.9 | 6.2 | ||
Operating Exp. Ann. | 16.9% | 54.5% | 44.9 | 40.2 | 32.1 | 28.1 | 22.5 | 5.1 | |
Operating Profit Ann. | 41.9% | - | 18.3 | -4.6 | 12.9 | 6.4 | 2.4 | -0.3 | |
OPM Ann. % | 14.9% | - | 27.16% | -12.52% | 27.15% | 17.89% | 9.48% | -4.33% | |
23.5% | 55.9% | 56.2 | 46 | 34.6 | 29.8 | 23.8 | 6.1 | ||
EBITDA Ann. | 44.2% | 86.4% | 22.5 | -3.8 | 15.3 | 7.5 | 2.4 | 1 | |
EBITDA Ann. margin % | 16.6% | 15.1% | 33.39% | -10.38% | 32.25% | 21.04% | 9.49% | 16.50% | |
Interest Ann. | 110.2% | 56.2% | 6.5 | 2.7 | 1.3 | 0.7 | 0.4 | 0.7 | |
Depr. | 68.7% | 74.1% | 4.8 | 3.2 | 1.2 | 1 | 0.9 | 0.3 | |
PBT Ann. | 25.6% | - | 11.3 | -9.7 | 12.8 | 5.7 | 1 | 0 | |
Tax Ann. | 24.5% | - | 2.7 | -2.4 | 3.2 | 1.4 | 0.6 | 0 | |
24.5% | - | 8.5 | -7.3 | 9.5 | 4.4 | 0.5 | 0 | ||
Net Profit Ann. | 24.5% | - | 8.5 | -7.3 | 9.5 | 4.4 | 0.5 | 0 | |
NPM Ann. % | 2% | 106.3% | 13.46% | -20.35% | 21.22% | 12.70% | 1.87% | 0.36% | |
EPS Adj. latest Ann. | 24.2% | - | 6.7 | -5.7 | 7.5 | 3.5 | 0.4 | 0 |
*All financials are in INR Cr and price data in INR
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Total Rev. Ann.
1Y CHG
85.2%
2Y CAGR
19.2%
3Y CAGR
23.7%
5Y CAGR
61.2%
Total Revenue Annual growth is higher than historical averages.
Net Profit Ann.
2Y CAGR
-5.4%
3Y CAGR
24.5%
Net Profit Annual growth is stable compared to historical averages.
Operating Exp. Ann.
1Y CHG
11.7%
2Y CAGR
18.3%
3Y CAGR
16.9%
5Y CAGR
54.5%
Operating Expenses Annual Cr growth is lower than historical averages.
Digikore Studios INFORMATION ON IPO ISSUE
About Digikore Studios
Digikore Studios, founded on July 25, 2000, specializes in cost-effective visual effects (VFX) for a wide array of projects, including films, web and TV series, documentaries, and commercials
Object of the Issue
- Funding working capital requirements
- General corporate purposes
- Offer expenses
Digikore Studios - PROMOTERS
| Name |
|---|
| Abhishek Rameshkumar More |
| Shree M P J Cement Works LLP |
Digikore Studios Lead Manager To The Issue
Sarthi Capital Advisors Private Limited
compliance@sarthiwm.in
Digikore Studios Registrar to the issue
Bigshare Services Private Limited
ipo@bigshareonline.com
Digikore Studios Strengths
Among the first studios
The company is one of the pioneering VFX studios in India, boasting a team of highly trained professionals and strong management
Strength
Strong brand equity
The company enjoys strong global brand equity in the VFX industry, bolstered by deep connections within the sector worldwide
Strength
Digikore Studios Risks
Dependent on few customers
The majority of revenues for FY23, FY22, and FY21 came from the company's top 10 customers
Risk
Evolving and competitive industry
The company operates in the fast-paced and competitive VFX market, where client preferences and behaviors are constantly evolving
Risk
IPO FAQs
Digikore Studios Ltd. IPO listing opened at Rs 270.00 while the issue price was Rs 171.00 giving 57.89% returns. After adjusting for subsequent bonus and splits, the stock trades at Rs 85.50 giving -59.01% gains since its IPO listing.
This IPO consists of an offer for sale of up to Rs 8.9 crore, of 521,600 shares. It also consists of a fresh issue of Rs 21.6 crore.
The promoters of the company are Abhishek Rameshkumar More and Shree M P J Cement Works LLP.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 168.0 - 171.0.
The IPO application opens on Sep 25, 2023 and closes on Sep 27, 2023.
The minimum lot size for the IPO is 800. The maximum lot size for the IPO is 800.
For all category investors, the minimum application amount for this IPO is Rs. 136,800.0, the maximum value for this IPO is Rs 136,800.0.
This IPO will be allotted on Sep 29, 2023.
The refund will be credited to your account on Oct 03, 2023.
The allotted shares will be credited to your demat on Oct 03, 2023.
Digikore Studios Ltd.’s shares listed on the stock exchanges on Oct 04, 2023.
