New client additions
12
+12 QoQ
Added 12 new clients in Q3, serving 56 active clients across regions.
BASILICFLYSTUDIO
Other
10 Feb 2026
Basilic Fly Studio Ltd — Q3 FY26
Basilic Fly Studio reported consolidated Q3 FY26 revenue of 105 crore, with YTD revenue of 294 crore (1.7x YoY).
✓ Verified against BSE filing
2-Min Summary
Basilic Fly Studio reported consolidated Q3 FY26 revenue of 105 crore, with YTD revenue of 294 crore (1.7x YoY). India standalone revenue grew 2.1x YoY to 94 crore YTD, already surpassing FY25 full-year revenue by 28%. Consolidated EBITDA margin contracted 280bps YoY to 19.9%, impacted by strategic investments including leadership hires, annual appraisals, severance costs, and Ind AS conversion. Management highlighted a strong order book of 200 crore yet to be delivered and new wins exceeding 300 crore. Key initiatives include a hybrid cloud migration targeting 5-15 crore annual savings by July 2026, and expansion of offshore headcount. Risks include elevated aged receivables (over 180 days) which remain around 45 crore despite 9% recovery, and potential margin pressure from continued investment.
Key Numbers
Order book (yet to deliver)
200 cr
+200 cr YoY
Outstanding order book of 200 crore to be delivered, 50% of YTD annual run rate.
Offshore headcount addition
58 FTE
+58 QoQ
Offshore headcount increased by 58 FTEs in Q3, supporting delivery shift.
High-value project pipeline
$8-9M
+$8-9M QoQ
Four high-value projects with Netflix/Amazon, each averaging $2M, total $8-9M.
Management Guidance
Hybrid cloud migration to reduce infrastructure cost by 50% by July 2026
Transition from fully AWS to hybrid model expected to deliver 5-15 crore annual savings, with completion targeted by July 2026.
marginsRevenue CAGR of 25-30% and margin improvement of 150-200bps annually
Management guided for 25-30% revenue CAGR and 1.5-2% annual margin improvement, driven by offshoring and cost initiatives.
growthM&A at advanced stage for North American market
Inorganic growth opportunity in North America is at advanced discussion stage, targeting capability/geography expansion.
expansionKey Risks
Aged receivables remain elevated
Receivables over 180 days stayed around 45 crore despite 9% recovery, with collection delays due to European holidays and client working capital gaps.
high · analyst_questionMargin pressure from strategic investments
One-time costs (severance, appraisal, leadership hires) impacted margins by 2.8%, with partial offset expected only in coming quarters.
medium · management_commentaryProject deferrals by production houses
Some projects scheduled for December were deferred, causing revenue timing uncertainty, though management considers it normal.
low · management_commentaryNotable Quotes
We are building not just scale but a resilient future ready global platform position to capture the next phase of growth.
If you see the total OCI margin for the YTD we stand at 13%. And if I add back this one-off I stand at 15.8% versus the 14.8% of the last year.
The aged receivables are more for the India business wherein we get the subcontracted business from the studios... it's not from those production houses.