Film Production, Distribution & Entertainment · Founded 1995 · www.visioncorpltd.com · BSE 531668 · · ISIN INE661D01015
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Business
Vision Corporation Ltd. is engaged in the Indian Film Production, Distribution & Entertainment sector. Its core business involves the end-to-end process of creating cinematic content, from conceptualization and script development to principal photography, post-production, and final release. The company generates revenue primarily through theatrical box office collections, sale of satellite broadcasting rights to television channels, digital streaming rights to Over-The-Top (OTT) platforms, music rights, and potentially other ancillary revenues like merchandising or event management related to its films. Its business model relies on consistently producing commercially and critically successful content that resonates with diverse audiences.
Revenue Mix
Given the sector, the company's revenue streams typically fall into:
Film Production: Involves financing and creating films.
Film Distribution: Managing the release and exhibition of films across various channels (theatrical, digital, television).
Entertainment Content Licensing: Monetizing content through sales of rights (OTT, satellite, music, international).
Specific segment contributions are not available without detailed financial reports.
Industry
The Indian film industry is one of the largest globally by volume, highly dynamic, and fragmented, with a mix of large integrated studios, regional production houses, and independent producers. It encompasses Bollywood (Hindi cinema) and various vibrant regional language cinemas. Vision Corporation Ltd. operates within this competitive landscape, competing with established media conglomerates, other major film studios, and a growing number of digital content creators for audience attention, talent, and market share. Its positioning would depend on its scale of operations, success rate of its films, and ability to adapt to evolving content consumption patterns (e.g., rise of OTT).
MOAT
In the film industry, durable competitive advantages are challenging to build but can include:
Brand Reputation: A strong studio brand known for quality or commercially successful content can attract talent and audiences.
Content Library: A valuable back catalog of successful films that can be licensed repeatedly.
Talent Relationships: Deep and exclusive relationships with top-tier directors, actors, writers, and technical crew.
Distribution Network: An extensive and efficient distribution network, especially in diverse regional markets.
Without specific information, Vision Corporation's moat, if any, would likely stem from its track record of successful productions and strategic relationships within the industry.
Growth Drivers
Increasing Digital Consumption (OTT): Growing penetration of smartphones and affordable data driving demand for digital content and subscription services.
Expanding Theatrical Market: Growth in multiplexes in Tier 2/3 cities and rising disposable incomes.
Regional Cinema Growth: Increasing appeal and commercial success of regional language films, offering diversification opportunities.
International Market Expansion: Potential for Indian content to reach global audiences through various platforms.
Monetization of Content Library: Continued licensing of existing film assets across new platforms and geographies.
Risks
Box Office Volatility: High dependence on individual film success, as a few failures can significantly impact profitability.
Content Cost Inflation: Escalating costs for talent (actors, directors) and production can squeeze margins.
Competition: Intense competition from other film studios, global streaming platforms, and independent content creators for audience attention and talent.
Piracy: Illegal distribution of content poses a continuous threat to revenue.
Regulatory & Censorship: Strict censorship laws and evolving content regulations in India can impact creative freedom and release schedules.
Audience Taste Shifts: Rapidly changing audience preferences and consumption habits (e.g., preference for shorter content, specific genres).
Economic Downturns: Discretionary spending on entertainment can be negatively impacted by economic slowdowns.
Management & Ownership
In the Indian context, "Vision Corporation Ltd." is likely promoted by founding families or individuals with an entrepreneurial background in media and entertainment. The quality of management in this sector is critical, relying on a blend of creative vision, financial acumen, and strong industry relationships. Success hinges on management's ability to identify compelling stories, attract top talent, manage production budgets effectively, and navigate evolving distribution landscapes. Specific details about the promoters, key management personnel, or ownership structure are not provided.
Outlook
Vision Corporation Ltd. operates in a vibrant yet challenging industry. The bull case hinges on the company's ability to consistently produce high-quality, commercially viable content that resonates with both traditional theatrical audiences and the rapidly growing digital viewership. Successful diversification into regional content, effective content library monetization, and strategic partnerships with OTT platforms could fuel significant growth. However, the bear case highlights the inherent risks of content creation: the unpredictable nature of audience reception, intense competition leading to content cost inflation, and the continuous threat of piracy. The company's long-term success will depend on its agility in adapting to technological shifts, audience preferences, and its capacity to manage financial risks associated with large-scale film productions.
| #(Fig in Cr.) | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 10 | 4 | 4 | 4 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income | 0 | 0 | 0 | 0 | 5 | 0 | 0 | 0 | 0 | 0 |
| Total Income | 10 | 4 | 4 | 4 | 5 | 0 | 0 | 0 | 0 | 0 |
| Total Expenditure | 10 | 4 | 4 | 4 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Profit | 0 | -0 | 0 | -0 | 4 | 0 | -0 | -0 | -0 | -0 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | -18 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 0 | -0 | -0 | -0 | -14 | -0 | -0 | -0 | -0 | -0 |
| Provision for Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Tax | 0 | -0 | -0 | -0 | -14 | -0 | -0 | -0 | -0 | -0 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | 0 | -0 | 0 | -0 | -14 | -0 | -0 | -0 | -0 | -0 |
| Adjusted Earnings Per Share | 0.1 | -0.1 | -0 | -0.1 | -7.1 | -0 | -0.1 | -0.1 | -0 | -0 |
| #(Fig in Cr.) | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 3 | 2 | 1 | 2 | 3 | 5 | 6 | 2 | 8 | 19 | 12 | 0 |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 5 | 0 |
| Total Income | 3 | 2 | 2 | 2 | 4 | 5 | 6 | 2 | 8 | 19 | 17 | 0 |
| Total Expenditure | 3 | 2 | 1 | 2 | 3 | 5 | 6 | 2 | 8 | 19 | 12 | 0 |
| Operating Profit | 0 | 0 | 0 | 0 | 0 | -1 | 0 | 0 | 0 | 0 | 5 | 0 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -18 | 0 |
| Profit Before Tax | 0 | 0 | 0 | 0 | 0 | -1 | 0 | 0 | 0 | 0 | -15 | 0 |
| Provision for Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Tax | 0 | 0 | 0 | 0 | 0 | -1 | 0 | 0 | 0 | 0 | -15 | 0 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | 0 | 0 | 0 | 0 | 0 | -1 | 0 | 0 | 0 | 0 | -15 | 0 |
| Adjusted Earnings Per Share | 0 | 0 | 0 | 0 | 0 | -0.3 | 0 | 0 | 0 | 0 | -7.3 | -0.2 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | -37% | 82% | 19% | 15% |
| Operating Profit CAGR | 0% | 0% | 0% | 0% |
| PAT CAGR | 0% | 0% | 0% | 0% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | -24% | -12% | 5% | -4% |
| ROE Average | -172% | -57% | -34% | -16% |
| ROCE Average | -149% | -49% | -29% | -14% |
| #(Fig in Cr.) | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Shareholder's Funds | 24 | 24 | 24 | 24 | 24 | 23 | 23 | 23 | 23 | 23 | 8 |
| Minority's Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Borrowings | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | -0 | -0 | -0 | -0 | -0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Current Liabilities | 5 | 3 | 2 | 2 | 4 | 3 | 4 | 8 | 8 | 10 | 8 |
| Total Liabilities | 29 | 26 | 26 | 26 | 28 | 26 | 27 | 31 | 31 | 33 | 16 |
| Fixed Assets | 2 | 2 | 2 | 2 | 2 | 3 | 2 | 2 | 2 | 3 | 2 |
| Other Non-Current Assets | 14 | 14 | 14 | 14 | 15 | 1 | 1 | 6 | 7 | 7 | 3 |
| Total Current Assets | 13 | 10 | 10 | 10 | 11 | 9 | 12 | 10 | 10 | 11 | 10 |
| Total Assets | 29 | 26 | 26 | 26 | 28 | 26 | 27 | 31 | 31 | 33 | 16 |
| #(Fig in Cr.) | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash Flow from Operating Activities | 1 | -0 | -0 | 0 | 0 | 1 | -2 | 5 | 0 | 1 | -16 |
| Cash Flow from Investing Activities | -1 | 0 | 0 | 0 | 0 | -1 | 2 | -6 | -0 | -1 | 16 |
| Cash Flow from Financing Activities | -0 | -0 | -0 | -0 | 0 | -0 | 0 | 0 | 0 | 0 | 0 |
| Net Cash Inflow / Outflow | 0 | 0 | -0 | 0 | 0 | 0 | 0 | -0 | 0 | 0 | -0 |
| Closing Cash & Cash Equivalent | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| # | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | 0.01 | 0.01 | 0.01 | 0.02 | 0.02 | -0.34 | 0.02 | 0.02 | 0.01 | 0.01 | -7.29 |
| CEPS(Rs) | 0.12 | 0.11 | 0.1 | 0.09 | 0.09 | -0.28 | 0.06 | 0.09 | 0.07 | 0.12 | -6.92 |
| DPS(Rs) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Book NAV/Share(Rs) | 11.27 | 11.28 | 11.29 | 11.31 | 11.35 | 4.67 | 4.69 | 4.71 | 4.71 | 4.72 | 3.77 |
| Core EBITDA Margin(%) | 6.96 | 3.42 | 9.24 | 8.01 | -0.1 | -12.53 | 0.45 | -21.26 | 1.14 | 0.81 | -0.13 |
| EBIT Margin(%) | 2.04 | 2.16 | 3.47 | 3.54 | 2.11 | -14.73 | 0.83 | 1.97 | 0.24 | 0.3 | -119.26 |
| Pre Tax Margin(%) | 1.74 | 1.7 | 2.79 | 2.98 | 2.1 | -14.94 | 0.72 | 1.94 | 0.23 | 0.3 | -119.6 |
| PAT Margin (%) | 0.89 | 0.86 | 1.76 | 2.02 | 1.41 | -14.94 | 0.5 | 1.94 | 0.13 | 0.06 | -119.6 |
| Cash Profit Margin (%) | 8.74 | 9.31 | 13.62 | 10.28 | 5.14 | -12.17 | 2.09 | 9.01 | 1.69 | 1.23 | -113.67 |
| ROA(%) | 0.08 | 0.07 | 0.1 | 0.14 | 0.18 | -2.54 | 0.12 | 0.13 | 0.03 | 0.04 | -59.44 |
| ROE(%) | 0.11 | 0.09 | 0.11 | 0.16 | 0.21 | -4.3 | 0.33 | 0.39 | 0.11 | 0.13 | -171.71 |
| ROCE(%) | 0.24 | 0.21 | 0.21 | 0.28 | 0.31 | -4.15 | 0.54 | 0.39 | 0.19 | 0.57 | -149.15 |
| Receivable days | 913.25 | 803.26 | 964.62 | 717.37 | 463.88 | 289.31 | 131.75 | 407.72 | 89.22 | 37.44 | 52.22 |
| Inventory Days | 621.55 | 727.52 | 1133.86 | 882.52 | 474.47 | 399.74 | 335.9 | 1219.16 | 328.16 | 136.5 | 215.67 |
| Payable days | 0 | 3969.27 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| PER(x) | 50.41 | 75.76 | 0 | 74.46 | 51.46 | 0 | 93.46 | 120.11 | 305.66 | 651.61 | 0 |
| Price/Book(x) | 0.06 | 0.07 | 0 | 0.12 | 0.11 | 0.1 | 0.31 | 0.47 | 0.34 | 0.86 | 0.83 |
| Dividend Yield(%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EV/Net Sales(x) | 0.71 | 0.96 | 14.66 | 1.88 | 0.8 | 0.22 | 0.41 | 2.48 | 0.48 | 0.47 | 0.63 |
| EV/Core EBITDA(x) | 7.19 | 9.05 | 95.6 | 15.9 | 13.67 | -1.8 | 16.76 | 27.38 | 26.48 | 32.06 | 1.69 |
| Net Sales Growth(%) | -60.62 | -17.13 | -37.75 | 28.48 | 86 | 34.84 | 33.8 | -69.11 | 315.17 | 143.22 | -36.71 |
| EBIT Growth(%) | 102.77 | -12.15 | 0.05 | 31.12 | 10.57 | -1043.47 | 107.57 | -26.98 | -49.98 | 210.97 | 0 |
| PAT Growth(%) | 79.54 | -19.67 | 27.38 | 47.11 | 30.01 | -1530.25 | 104.45 | 20.24 | -71.51 | 17.93 | 0 |
| EPS Growth(%) | 78.26 | -19.51 | 27.26 | 47.11 | 30.01 | -1530.1 | 104.44 | 20.26 | -71.2 | 16.98 | 0 |
| Debt/Equity(x) | 0.03 | 0.04 | 0.04 | 0.03 | 0.02 | 0.03 | 0.01 | 0.04 | 0.06 | 0.11 | 0.19 |
| Current Ratio(x) | 2.39 | 3.83 | 4.87 | 5.33 | 2.75 | 2.59 | 3.06 | 1.27 | 1.21 | 1.06 | 1.36 |
| Quick Ratio(x) | 1.49 | 2.16 | 2.65 | 2.88 | 1.65 | 0.97 | 1.57 | 0.37 | 0.33 | 0.36 | 0.42 |
| Interest Cover(x) | 6.8 | 4.65 | 5.1 | 6.27 | 1194.6 | -69.62 | 7.37 | 55.52 | 79.65 | 144.69 | -346.34 |
| Total Debt/Mcap(x) | 0.63 | 0.53 | 0 | 0.27 | 0.18 | 0.3 | 0.02 | 0.08 | 0.19 | 0.13 | 0.23 |
| # | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 25.38 | 25.38 | 25.38 | 25.38 | 25.38 | 25.38 | 25.38 | 25.38 | 25.38 | 25.38 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 74.62 | 74.62 | 74.62 | 74.62 | 74.62 | 74.62 | 74.62 | 74.62 | 74.62 | 74.62 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0.51 | 0.51 | 0.51 | 0.51 | 0.51 | 0.51 | 0.51 | 0.51 | 0.51 | 0.51 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 1.49 | 1.49 | 1.49 | 1.49 | 1.49 | 1.49 | 1.49 | 1.49 | 1.49 | 1.49 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | -37% | +82% | +19% | +15% |
| Operating Profit CAGR | — | — | — | — |
| PAT CAGR | — | — | — | — |
| Share Price CAGR | -24% | -12% | +5% | -4% |
| ROE Average | -172% | -57% | -34% | -16% |
| ROCE Average | -149% | -49% | -29% | -14% |
| # | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 25.38 | 25.38 | 25.38 | 25.38 | 25.38 | 25.38 | 25.38 | 25.38 | 25.38 | 25.38 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 74.62 | 74.62 | 74.62 | 74.62 | 74.62 | 74.62 | 74.62 | 74.62 | 74.62 | 74.62 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0.51 | 0.51 | 0.51 | 0.51 | 0.51 | 0.51 | 0.51 | 0.51 | 0.51 | 0.51 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 1.49 | 1.49 | 1.49 | 1.49 | 1.49 | 1.49 | 1.49 | 1.49 | 1.49 | 1.49 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 |
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