Identical Brains Studios FY26 net profit falls 60% to ₹158.14 lakh
Identical Brains Studios Limited reported a 60% decline in net profit to ₹158.14 lakh for FY26, driven by a 25% drop in revenue to ₹1912.17 lakh. The board approved the audited results and appointed M/s. Yogesh Bhuva & Co as internal auditor. Statutory auditors issued an unmodified opinion, and IPO proceeds utilization showed no deviation.
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Identical Brains Studios Limited reported a 60% decline in net profit to ₹158.14 lakh for the year ended March 31, 2026, as revenue from operations fell 25% to ₹1912.17 lakh. The company’s board approved the audited standalone financial results for the half year and year ended March 31, 2026, during a meeting held on May 26, 2026.
The total income for FY26 stood at ₹1968.92 lakh, a decrease from ₹2563.10 lakh in the previous year. Total expenses increased to ₹1791.15 lakh from ₹2021.23 lakh in FY25. The basic and diluted earnings per share (EPS) for the year dropped to ₹1.13 from ₹2.82 in the prior year. For the half year ended March 31, 2026, the company reported a profit of ₹21.23 lakh.
The board appointed M/s. Yogesh Bhuva & Co, Chartered Accountants, as the internal auditor for the financial year 2026-27. The firm was appointed for a term of one year at a remuneration decided by the board and the firm mutually. The appointment follows the provisions of Section 138 of the Companies Act, 2013.
S C Mehra & Associates LLP, the statutory auditor, issued an unmodified opinion on the standalone financial results. The auditor confirmed that the results present a true and fair view in conformity with the recognition and measurement principles laid down in the applicable accounting standards. The statement of deviation in utilization of funds raised through the Initial Public Offering confirmed no deviation in the use of proceeds as of March 31, 2026.
The company utilized ₹1099.73 lakh out of the total IPO proceeds of ₹1994.76 lakh. Major utilizations included ₹281.90 lakh for the establishment of a Color Grading Digital Intermediate and Sound Studio, ₹177.93 lakh for issue-related expenses, and ₹317.15 lakh for general corporate purposes. The balance sheet as of March 31, 2026, showed total assets of ₹3921.16 lakh, with shareholders' funds at ₹3556.15 lakh.
Financial Performance for FY26
| Particulars | Year Ended March 31, 2026 (₹ in Lakhs) | Year Ended March 31, 2025 (₹ in Lakhs) |
|---|---|---|
| Revenue From Operations | 1912.17 | 2547.82 |
| Total Income | 1968.92 | 2563.10 |
| Total Expenses | 1791.15 | 2021.23 |
| Profit for the Period | 158.14 | 395.08 |
| Earnings Per Share (Basic) | 1.13 | 2.82 |
Utilization of IPO Proceeds
| Object | Amount Disclosed (₹ in Lakhs) | Actual Utilized (₹ in Lakhs) |
|---|---|---|
| Renovation of Andheri office and studio | 51.78 | NIL |
| Establishment of DI and Sound Studio | 286.49 | 281.90 |
| Establishment of new branch office in Lucknow | 75.56 | 35.00 |
| Purchase of computers and software | 343.03 | 153.06 |
| Incremental working capital requirements | 704.00 | 134.69 |
| General Corporate Purposes | 355.97 | 317.15 |
| Issue related Expenses | 177.93 | 177.93 |
Historical Stock Returns for Identical Brains Studios
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +0.58% | -10.13% | -4.42% | -37.43% | -59.86% | -82.66% |
What strategic initiatives will the company implement to reverse the 25% decline in revenue?
How does the company plan to utilize the remaining unspent IPO proceeds of approximately ₹895 lakh?
Will the significant underutilization of funds allocated for working capital and expansion impact near-term growth?
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