Promoter Kumar Mangat Pathak has pledged 60,00,000 equity shares of Panorama Studios International for personal borrowing. The encumbrance was created on August 24, 2026.

The pledge raises the promoter’s total encumbered stake to 3,35,75,000 shares, representing 12.89% of the company’s total share capital. This disclosure was filed with the BSE on August 27, 2026, under Regulation 31(1) and 31(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Encumbrance Details

The shares were pledged in favor of Motilal Oswal Financial Services. Prior to this transaction, Pathak held 2,75,75,000 encumbered shares, accounting for 10.58% of the total share capital.

What the Numbers Show

The promoter’s total holding stands at 9,18,83,774 shares (35.27%). With 12.89% of the total share capital now encumbered, approximately 36.5% of the promoter’s specific holding is pledged. This indicates a significant portion of the promoter’s equity is leveraged for personal liquidity needs.

Panorama Studios International Ltd reported a significant contraction in both revenue and profitability for the first quarter of fiscal year 2027 (Q1FY27). The Mumbai-based film production and distribution company posted a net profit of ₹24.41 lakh for the quarter ended June 30, 2026, down from ₹44.23 lakh in the corresponding quarter of the previous fiscal year. This represents a 45% year-on-year decline in bottom-line earnings.

Revenue from operations dropped sharply by 54% to ₹160.23 lakh, compared to ₹348.19 lakh in Q1FY26. The decline in top-line growth was accompanied by a steeper reduction in total expenses, which fell 56% to ₹127.61 lakh from ₹288.53 lakh in the prior year’s quarter. This cost discipline helped preserve margins despite the substantial revenue contraction.

Financial Performance Overview

The company’s operating profit before tax and exceptional items stood at ₹32.63 lakh, down from ₹59.67 lakh in Q1FY26. Profit before tax remained unchanged at ₹32.63 lakh after accounting for no exceptional items. The effective tax rate resulted in a net profit of ₹24.41 lakh, compared to ₹44.23 lakh previously.

On a sequential basis, revenue also declined, falling to ₹160.23 lakh from ₹227.61 lakh in the preceding quarter (Q4FY26). Net profit similarly decreased to ₹24.41 lakh from ₹35.23 lakh in Q4FY26.

What the Numbers Show

A notable divergence exists between the rate of revenue decline and expense reduction. While revenue fell 54%, total expenses contracted at a faster pace of 56%. This suggests that the company managed to reduce its cost base more aggressively than its income stream shrank, preventing a wider margin erosion. However, the absolute scale of operations has diminished significantly, with revenue less than half of what it was a year ago.

The full-year revenue for FY26 was ₹1,487.49 lakh, providing context that Q1FY27 represents roughly 10.8% of the previous year’s total top line. Equity share capital remained unchanged at ₹142.87 lakh.

Corporate Actions

The Board of Directors approved the unaudited standalone and consolidated financial results during its meeting held on August 14, 2025. The results were published in the newspapers Pratahkal (Marathi) and Active Times (English) on August 18, 2026, as per SEBI LODR regulations. Kumar Mangat Pathak, Managing Director, signed off on the financial statements.

The company did not declare any dividend for the quarter. There were no disclosures regarding order inflows, new project announcements, or strategic initiatives in the filing.