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).
bullish
medium
✓ Verified against BSE filing
Claim Ledger
Did management answer the analysts?
Every material analyst question, graded on whether management actually answered it — with the verbatim exchange and quantitative claims checked against filed numbers.
68%Questions answered1Evaded / deflected11Questions auditedMixedNumbers vs filing
Answered
High priority
Reason for dip in operating margin vs YoY
Asked by Anik Madwani, Step Trade Capital
Management explained the dip as one-off initiatives and provided adjusted margin comparison.
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Question
So my question was with regards to the numbers. So uh here I can see uh there is a dip in margin of operating level and level compared to Y or C. So could you just clarify the reason
Gorav (management, role not stated)
if you compare there have been lot of initiative taken by the management... all this will cumulatively sum up close to 2.5 to 2.8% in the total margin. So if you see the total OCI margin for the YD we stand at 13%. And if I add back this oneoff I stand at 15.8% versus the 14.8% of the last year.
Partial answer
High priority
Will margins stabilize in coming quarters?
Asked by Anik Madwani, Step Trade Capital
Management expressed optimism but admitted some impact may remain in March quarter.
no specific margin guidanceacknowledged residual impact
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Question
So do we see this uh uh be stable in coming quarters?
Gorav (management, role not stated)
Absolutely. And in fact we are also expecting some better winning... we do foresee this as a it may be some uh impact may remains for the coming March quarter. It may not go completely off but it will be very largely covered by the better utilizations and better rates.
Answered
High priority
Value range of four high-value projects from Netflix/Amazon
Asked by Vir Mahadevia, Malik
Management provided a clear range of $8-9 million total.
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Question
in your press release you mentioned four high value projects between Netflix and Amazon. Could you give us an approximate range of what is the value of these uh total value of four projects put together?
Bala (management, role not stated)
Approximately four projects average of 2 million for each project and it goes up to 8 to 9 million for these four projects.
Answered
High priority
Details on 50% cost reduction by July 26
Asked by Vir Mahadevia, Malik
Management explained the source (cloud cost optimization) and quantified annual savings.
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Question
On the 50% cost reduction that you talk about by July 26, would you be able to maybe elaborate on that a little bit? Where would these savings come from?
Bala and Gorav (management)
this will save the cloud cost and we are estimating for 16 users... it would be effectively between 4.5 to 5 of savings... this is 5 cr of saving annually... it has a potential to increase from 5 cr annually to the 15 CR as we increase the headcount.
Partial answer
Medium priority
Reason for 14 cr jump in employee cost QoQ
Asked by Vir Mahadevia, Malik
Management explained the increase as percentage improvement but did not directly answer if hiring is complete.
did not confirm if hiring completeattributed increase to severance and appraisal
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Question
there's a 14 cr jump in employees cost between roughly 14 crores between September to December quarter... is now all hiring complete within the ecosystem India plus overseas to deliver six to 800 crores of topline?
Gorav (management, role not stated)
our employee ratio as a percentage of the revenue has improved from previous period of 69.7% to the 66.3%. A significant 3% reduction... the current year employee benefit include the seance cost and the employee appraisal...
Partial answer
High priority
Status of aged receivables and collection efforts
Asked by Vir Mahadevia, Malik
Management cited recovery percentage but gave vague timeline and no specific plan.
no specific collection timelineno breakdown of aged buckets
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Question
the status on age receivables that is still not something... 503 crores down to some 45 crores. What are we doing to proactively collect this?
Gorav (management, role not stated)
there is a significant 9% uh close to 9 to 10% recovery which has happened... we are expecting larger parts to come in the current quarter and the following quarter. It's going to take some time... in the next two quarter it should address good amount.
Partial answer
Medium priority
Can revenue jump from current 100 cr run rate?
Asked by Surendra Reddi, Chartered investors
Management gave qualitative optimism but no quantitative jump guidance.
no specific growth numbercited uncertainty due to project nature
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Question
I can see that our current quarterly run rate is going like 100 100 crores and can we see like any jump in that?
Gorav (management, role not stated)
we expect the quarter at least at the par or slightly better than the current run rate... we do expect the numbers to improve as the winnings continue to happen.
Partial answer
High priority
Planned revenue and EBITDA margin for FY27
Asked by Prana JN, Deal Wealth Capital
Management provided high-level CAGR and margin improvement but no specific FY27 numbers.
deferred detailed guidance to May callgave only broad CAGR and margin improvement range
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Question
can you please share what is the planned uh revenue and uh EATA or PAT margin for FI27 that we are working towards a realistic uh range.
Gorav (management, role not stated)
we will be more going into the detail for the next financial year as we close the March... our CGR is in the range of the 25 to 30% CAGR on the top line and our margin continuously improving gradually... we internally target into the marginal improvement in a range of one and a half to 2%.
Answered
Medium priority
Slate of projects to be delivered in next 3-6 months
Asked by Prana JN, Deal Wealth Capital
Management named specific projects and studios, providing visibility.
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Question
what is the slate of uh uh projects uh to be delivered in the next uh 3 to 6 months uh which we can uh look forward to hitting the screen.
Bala (management, role not stated)
we've recently worked on picture season 5... upcoming episodes are coming on Netflix... Mission Impossible... upcoming Disney movie... working on some of TV series for water brothers... potentially a biggest project for water in the last 20 years.
Answered
Medium priority
Are aged receivables from premium production houses?
Asked by Prana JN, Deal Wealth Capital
Management clearly distinguished that aged receivables are from Indian studios, not premium clients.
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Question
are we strained on the receivables front from their side or is it some other older production houses and partners who are yet to pay us?
Gorav (management, role not stated)
the aged receivables are not from the premium production houses. The aged receivables are more for the India business wherein we get the subcont subcontracted business from the studios...
Partial answer
Low priority
Progress on renegotiating payment terms for receivables
Asked by Prrenit (individual investor)
Management stated current terms are 30-45 days but did not compare to pre-acquisition or detail renegotiation.
did not quantify improvement from pre-acquisitionvague on renegotiation progress
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Question
I was trying to understand when we took over one of us we planned on renegotiating also few of the payment terms. So we get might get it a little earlier. So how are we in that journey at this point?
Gorav (management, role not stated)
those production houses many time we get the sizable signing amount. So those are pretty much on the track... standard of the 30 days and generally we get the payment division cycle of the 30 max to max 45 days.
Declined
Medium priority
Breakup of aged receivables and potential write-offs
Asked by Pankage (individual investor)
Management declined to provide the requested aging breakup, citing unpublished information.
refused to provide aging breakupdeferred to next quarter
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Question
Can we get a breakup of uh what is the aging of receivables? I'm more interested in uh any amounts which are due for more than 6 months and uh out of that uh is there anything which we are expecting to be kind of written off over a period of time?
Gorav (management, role not stated)
that for the quarter that is the unpublished information once you come for the March definitely we will be happy to detail that.
Quantitative claims vs filed numbers
| Claim | Management said | Filing | Verdict |
|---|---|---|---|
| Adjusted OCI margin 15.8% vs 14.8% last year | 15.8% | 17% | Understated vs filing |
| Revenue increased from 93.4 cr to 105 cr QoQ | ₹105 cr | ₹105 cr | Matches filing |
| 9M FY26 revenue delivered 294 cr | ₹294 cr | ₹105 cr | Overstated vs filing |
Filed figures sourced from Screener.in. Claims within a small tolerance of the filing are marked “matches filing”.