Shares of this microcap company jumped around 2 percent after announcing strategic expansion into the international market with the establishment of a VFX and OTT Platform company in the United Arab Emirates.
With a market capitalisation of Rs. 245 crores, shares of Thinkink Picturez Ltd started Tuesday’s trading session on a flatter note at Rs. 82.14. The shares hit a high of Rs. 83.44, gaining around 2 percent and currently trading at Rs. 83.09 apiece.
Such a positive movement in the share price was observed after the company in an exchange filing announced its strategic expansion into the international market with the establishment of a state-of-the-art VFX and OTT Platform company in the United Arab Emirates (UAE). The UAE’s strategic location, good infrastructure, and burgeoning entertainment industry make it the ideal hub for the company’s international operations.
Furthermore, they mentioned that this significant move marks a pivotal milestone in the company’s journey as it ventures into new business opportunities in the field of VFX and post-production, while also venturing into the realm of Over-The-Top (OTT) content distribution.
The newly established VFX and OTT platform company in the UAE will serve as the cornerstone for the company’s international growth plans. Moreover, the company aims to capitalize on the growing demand for high-quality visual effects and post-production services by leveraging its experience in the field. This UAE venture will enable the company to cater to clients and projects from all corners of the globe.
In addition to its VFX and post-production offerings, the company also announced the launch of its own OTT platform. This platform will provide a diverse library of movies and web series, all localised in various languages to cater to a global audience. With this, the company intends to monetize its vast library of previously created assets and generate revenue from a worldwide audience.
Digging into the company’s financial statement, the revenue magnified by 170 percent from Rs. 9.36 crores in the June quarter to Rs. 25.28 crores during the September quarter. In addition, the net profits increased by 34 percent from Rs. 3.30 crores to Rs. 4.45 crores during the same timeframe.
Looking at important financial ratios, the return on equity was recorded at 12.59 percent during FY22-23 and the return on capital employed stood at 10.69 percent. Moreover, the company recorded a net profit margin of 17.59 percent during FY22-23.
Headquartered in Mumbai, Thinkink Picturez Ltd was incorporated in 2008. The company is a film production company in the media and entertainment field. It creates content for Film Making, TV and Web Shows, both fiction and Non-Fiction and provides services such as concept development, casting, editing, sound effects, mixing services and a few more.
Written By Vaibhav Patil
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