Q2FY15 EBITDA rebounds as integration efforts start delivering: Revenues at Rs 3,187 mn
CCI-approval & successful open offer paves way for Prime Focus Limited (PFL)-Reliance MediaWorks (RMW) Film and Media Services (FMS) business merger closure
Mumbai, February 17, 2015: Prime Focus Limited (PFL), the global leader in media and entertainment industry services, declared its unaudited financial results for the quarter and six months ending Dec 31, 2014 on February 14, 2015. The Company posted Q2FY15 consolidated revenues of Rs 3,187 mn along with sharp improvement in EBITDA and strong progress in global integration efforts post the Prime Focus World (PFW)-Double Negative (DNeg) merger.
PFL-RMW FMS Business merger update
Approval received from the Competition Commission of India (CCI) for the merger of PFL with RMW Film & Media Services (FMS) Business on December 15, 2014
Reliance MediaWorks (RMW) Limited, Reliance Land Private Limited and the Promoters have concluded the open offer as on January 2, 2015. The collective shareholding acquired in the open offer stands at 16.1% of fully diluted shares including the announced preferential allotment
In the EGM held on January 28, 2015, shareholders re-approved preferential allotment of 113,461,538 shares towards equity infusion by the Promoters and RMW Ltd and transfer of RMW FMS business. Allotment will be completed post required stock exchange and other relevant approvals
Key financial highlights
Q2'FY15 (Consolidated) QoQ performance
Revenue for the quarter ending Dec-14 at Rs 3,187 mn as against Rs 3,570 mn in the quarter ending Sep-14.
Strong momentum across the core PFW, Prime Focus Technologies (PFT) and India post production segments
Impending divestiture of non-core UK post production business to remove the drag on consolidated results going forward
EBITDA margins back in double digits: Rs 394 mn & Rs 355 mn compared to Rs 111 mn & 144 mn in Sep-14 without & with FX charge respectively
Loss for the quarter at Rs 362 mn compared to loss of Rs 220 mn in Q1'FY15 primarily due to non-cash tax charges, adverse FX fluctuation, residual exceptional integration expenses and finance charges
Global integration of DNeg and PFW proceeding as expected, with major integration expenses already incurred
Balance Sheet Highlights
The Share capital and Total Shareholder Equity as on December 31, 2014 is Rs 185 mn and Rs 6,874 mn respectively. This is before the issue of the preferential allotment of 113,461,538 shares towards equity infusion by the Promoters and RMW Ltd and transfer of RMW FMS business. The total share capital post issue of preference capital will increase to Rs 299 mn
Consolidated debt as on December 31, 2014 is Rs 12,497 mn which includes a Bridge loan of Rs 3,000 mn shown in Short term Borrowings. As disclosed previously proceeds of the preferential allotment (Rs 2,400 mn) will be used towards debt reduction
Key operational highlights for the quarter
Prime Focus World (PFW)
Key projects delivered including recent Hollywood & Bollywood hits such as: Interstellar, Exodus: Gods and Kings, The Hunger Games Mockingjay Part 1, Ungly, Action Jackson and Happy Endings
On-going projects include Terminator-Genisys, Ant-Man, Batman v Superman, Avengers, Insurgent, Kingsman: The Secret Service, amongst others
PFW's work in Sin City: A Dame To Kill For wins the award for Best VFX at 24 FPS Annual International Animation Awards and Best Stereography' at the International 3D & Advanced Imaging Society's Annual 3D Creative Arts Awards
Prime Focus wins Best VFX for Kick at Screen Awards 2015
Double Negative wins BAFTA award for Special Visual Effects for Christopher Nolan's Interstellar
Prime Focus Technologies (PFT)
DAX integration on track; multiple new customer contracts and strong pipeline
PFT powered Star Sports app selected as App Store Best of 2014 in India by Apple
PFT's Play-out Monitoring service for BARC's Audience Measurement System goes live
CLEAR's Operations Cloud powers Hotstar', Star TV's entertainment OTT platform
Commenting on results Mr. Namit Malhotra, Founder, Executive Chairman and Global CEO, Prime Focus Ltd said:
We are pleased to report rebound in our EBITDA margins as the benefits of the global integration exercise post the PFW - DNeg merger start to deliver. The cost optimization efforts are becoming visible in this quarter itself and margins will further enhance with increasing revenue momentum. PFT has again delivered robust growth, as the BARC rollout in India and new global contracts continue to fuel expansion. Our merger with RMW FMS is also expected to close shortly post required approvals. Industry leading awards continue to recognize Prime Focus' techno-creative leadership. We are very excited about the future, with our game-changing strategies delivering as expected.
About Prime Focus Limited
Prime Focus Limited (PFL), the world's largest media services powerhouse employs over 5,500 professionals in 16 cities across 4 continents and 7 time zones. We provide end-to-end creative and technology services including visual effects, stereo 3D conversion, animation, post-production, Digital Intermediate (DI), equipment rental, hybrid cloud-enabled Media ERP technology and cloud media services to Studios, Broadcast, Advertising and Media industries.
Prime Focus is behind path breaking technologies like CLEAR (Hybrid Cloud technology enabled Media ERP platform), Primetime Emmy award-winning DAX Digital Dailies and View-D (stereoscopic 2D to 3D conversion). Leveraging our Global Digital Pipeline and pioneering delivery model WorldSourcing we partner content creators at every stage of the process ensuring creative enablement, work flow efficiencies and cost optimization.
2014 has seen a spate of M&A: Prime Focus Technologies acquired
Most recent headlines
11/12/2025
Dalet, a leading provider of cloud-native, end-to-end media workflow solutions, ...
06/12/2025
In a live broadcast from the Reagan National Defense Forum, L3Harris Chair and CEO Christopher Kubasik joined Morgan Brennan on CNBCs Closing Bell: Overtime. Ku...
06/12/2025
FORT LAUDERDALE, Fla. A new survey from Pixitmedia by Datacore revealed a major shift in the Media & Entertainment industry in media archiving, with 85% of resp...
06/12/2025
HACKENSACK, N.J. LiveU has announced that the national public broadcaster Czech Television has completed one of the largest LiveU live production deployments fo...
06/12/2025
NEW YORK The National Academy of Television Arts and Sciences (NATAS) presented the Excellence in Production Technology Emmy Award to NASA+ and Dr. Tom Leight...
05/12/2025
2025 Sports Broadcasting Hall of Fame: Curt Gowdy Jr. - Master Storyteller, Nati...
05/12/2025
SVG Sit-Down: Veritone's Sean King on the Power of Mining Video, Audio DataThe company's Data Refinery offers users total control and governance over da...
05/12/2025
Platinum White Paper: Inside the Nashville Predators' Unified, Flexible, Sca...
05/12/2025
Netflix Reaches Agreement To Acquire Warner Bros. Following Planned WBD SplitThe deal does not include WBDs sports assets like TNT Sports (US, UK, LatAm), Euros...
05/12/2025
FOX Sports Returns to Indianapolis for Primetime Broadcast of Big Ten Championsh...
05/12/2025
SVG Summit 2025 Preview: Digital Engagement & Monetization Workshop Tackles the ...
05/12/2025
Atlanta United Lights Up New Emory Healthcare Studio With First Live Broadcast f...
05/12/2025
As Messi Takes the Pitch, MLS, Apple, NEP Roll Out Largest MLS Cup Production Ev...
05/12/2025
ESPN Enters College Football's Most Intense Month With Elevated Workflows fo...
05/12/2025
It's about that time! Awards season is in full swing, and the Film Independe...
05/12/2025
Every year, Spotify Wrapped offers a personalized look back at the audio that defined your year. It's a snapshot of your listening habits, designed to tell ...
05/12/2025
In 2025, Spotify's EQUAL, GLOW, and RADAR programs celebrated women, LGBTQIA , and emerging artists who turned moments into milestones. From breaking record...
05/12/2025
In our latest blog, we explain how Wi-Fi 7 rollouts can drive consumer loyalty with value-add services such as consumer cybersecurity. We also explore how this ...
05/12/2025
LOS ANGELES Netflix announced it has entered into an agreement to acquire the assets of Warner Bros. for $82.7 billion....
05/12/2025
NEW YORK Nielsens Gracenote has launched Gracenote Content Connect, a new ad platform that provides agencies, brands, supply-side platforms (SSPs) and demand-si...
05/12/2025
NEW YORK In an most important update to the workings of deal-based programmatic advertising, IAB Tech Lab has released version 1.0 of its Deals API for public c...
05/12/2025
NEW YORK Pass the turkey. Pass the stuffing. Pass the cranberry sauce. All are common requests of Americans celebrating Thanksgiving Day with family and f...
05/12/2025
NEW YORK Iris, the new cloud-connected camera control platform, has officially launched with features that turn virtually any PTZ camera into a software-connect...
05/12/2025
HOLLYWOOD, Calif. Netflix announced today that it has entered into an agreement to acquire the assets of Warner Bros. for $82.7 billion....
05/12/2025
NEW YORK Iris, the new cloud-connected camera control platform, has officially launched with features that turn virtually any PTZ camera into a software-connect...
05/12/2025
WASHINGTON The Federal Communications Commission has approved AT&T's $1.02 billion acquisition of spectrum from UScellular in a decision that was issued sho...
05/12/2025
The Best Coldplay Songs: 21 Tracks That Shoot for the Stars From Yellow to Viva La Vida, Fix You to Paradise, this playlist goes back to the start.
December ...
05/12/2025
Zafris Lecture Series Brings Nabil Ayers to Berklee The 32nd annual James G. Zafris Distinguished Lecture series was held on Thursday, November 13, with guest...
05/12/2025
Back to All News
Netflix Unveils the First Look for Land of Sin' - Premier...
05/12/2025
Introducing New Perks to Help You Get Even More from LinkedIn Premium Published on Dec 5, 2025 Categories: Company News, Product News
LinkedIn Corporate Co...
05/12/2025
Friday 5 December 2025
A new Game of Thrones Tale: Official trailer for Sky Exc...
05/12/2025
Back to All News
Don Lee, Lee Jin-uk, and Lalisa Manobal to Star in Netflix Act...
05/12/2025
Tis the season of giving once again and this year we've taken our Give Back Fridays' concept and turned it on its head.
In the autumn we were approach...
05/12/2025
Brayden Gogis doesn't remember a time when he wasn't completely fixated on games in all forms. In preschool, when they asked us to dress up as what we ...
05/12/2025
The Grinch steals the spotlight as the theme for The Late Late Toy Show 2025
Tune in tonight at 9:35pm on RT One and worldwide on RT Player
#LateLateToyShow...
05/12/2025
RT Announces New Presenters of Flagship News Programmes
New RT Six One News co-presenter Tommy Meskill
Sarah McInerney & Justin McCarthy join Morning Ir...
04/12/2025
ToolsOnAir Blackmagic Design HyperDeck Event Presets for just:in mac pro 2025 & ...
04/12/2025
ToolsOnAir AJA Ki Pro Event Presets for just:in mac pro 2025 & just:in linux
More Details:Starting with version 5.5, both just:in mac pro and just:in linux sol...
04/12/2025
Wangu Kanuri from Kenya and Godwin Asediba from Ghana are two of this years finalists for Thomsons Young Journalist of the Year Award. The pair are runners-up i...
04/12/2025
SVG Sit-Down: ProximaVision's Claudio Lisman on Why Tethered Drones Could Be...
04/12/2025
SVG Campus Shot Callers: Imry Halevi, Senior Associate Director of Athletics, Co...
04/12/2025
Platinum White Paper: LiveU Lightweight Sports Production: A Step Change in Spor...
04/12/2025
London to Riyadh: DAZN brings the boxing glamour to new production levels for Be...
04/12/2025
Analysis: Paramount bets on the battering ram' with Champions League play By Callum McCarthy, Editor-at-Large
Tuesday, December 2, 2025 - 10:12
Print ...
04/12/2025
Space City Home Network Launches SCHN DTC App for Astros and RocketsThe Rockets and Astros were previously the lone NBA and MLB teams without a DTC appBy Jason...
04/12/2025
SVG Summit 2025 Preview: Content Workflows Workshop Spotlights Evolution of Spor...
04/12/2025
New Sponsor Spotlight: Geotech's Patrick Wambold On the Unreal Engine Revolu...
04/12/2025
Curt Gowdy Jr. - Master Storyteller, Nationally and RegionallyBy Jason Dachman, Editorial Director, U.S.
Thursday, December 4, 2025 - 1:52 pm
Print This Sto...
04/12/2025
(L-R) Rebecca Lichtenfeld, Mohammadreza Eyni, Sara Khaki, and Judith Helfand att...
Q2FY15 EBITDA rebounds as integration efforts start delivering: Revenues at Rs 3,187 mn
