Film Production, Distribution & Entertainment · Founded 1992 · www.jumpnetworks.in · BSE 531337 · NSE WINPRO · ISIN INE974C01022
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Business
WinPro Industries Ltd. operates in the Film Production, Distribution & Entertainment sector in India. Its core business involves the creation, development, and production of cinematic content, primarily films. The company's business model revolves around generating intellectual property (IP) in the form of films and then monetizing this content across various distribution windows. WinPro makes money through:
Theatrical Releases: Share of box office collections from cinema screenings.
Satellite Rights: Selling broadcasting rights to television channels.
Digital/OTT Rights: Licensing content to Over-The-Top (OTT) streaming platforms.
Music Rights: Monetizing the film's soundtrack and related music content.
International Distribution: Selling rights for overseas markets.
Potentially other revenue streams like merchandising, co-production deals, or event management.
Revenue Mix
While specific figures for WinPro Industries Ltd. are not available, a company in this sector typically derives revenue from distinct segments:
Film Production: Revenue generated directly from producing films, often involving a mix of own productions and co-productions.
Film Distribution: Revenue from licensing and distributing films across various platforms (theatrical, digital, satellite).
Other Entertainment: This segment could include revenue from music, digital content, events, or talent management, depending on the company's broader scope.
The contribution of each segment to total revenue can vary significantly based on the number and success of productions and distribution deals in a given period.
Industry
The Indian film industry is one of the largest globally by the number of films produced, characterized by its diversity, high volume, and a mix of national (Bollywood) and strong regional cinema. The industry structure includes a wide array of production houses (ranging from large studios to independent producers), distributors, exhibitors (multiplex chains, single screens), and a rapidly growing number of OTT platforms. The landscape is competitive, fragmented, and capital-intensive.
WinPro Industries Ltd. operates within this dynamic and competitive environment. Its positioning relative to peers would depend on its production scale, content quality, distribution network, access to talent (actors, directors), and financial backing. It likely competes with established Bollywood and regional studios, as well as newer production houses and digital content creators.
MOAT
For a company like WinPro, potential competitive advantages (moats) are often intangible and can include:
Strong Brand & Reputation: A history of producing successful and critically acclaimed content can build a strong brand, attracting top talent and audiences.
Creative Talent Pool: Access to a reliable network of experienced directors, writers, actors, and technical crew can be a significant advantage.
Content Library (IP Ownership): A valuable library of past successful films provides recurring revenue through re-runs and licensing deals over time.
Distribution Network: A robust and extensive distribution network (both theatrical and digital partnerships) can ensure wider reach and better monetization.
Scale: Ability to finance multiple large-budget productions and manage risks across a portfolio of films.
Specific information on WinPro's unique competitive advantages is unavailable, but these are common areas where moats are built in the film industry.
Growth Drivers
Key factors that can drive growth for WinPro Industries Ltd. over the next 3-5 years include:
Rising Disposable Incomes: Increasing affluence in India leads to higher discretionary spending on entertainment.
Growth of OTT Platforms: The rapid proliferation of streaming services provides new and expanding monetization windows for content, reaching a wider audience base.
Content Export Potential: Increasing global appetite for Indian stories and content can open up international revenue streams.
Regional Content Boom: Growing demand for high-quality regional language films and series.
Technological Advancements: Better production techniques, VFX, and sound quality enhance audience experience and content value.
Deepening Digital Penetration: Increased internet and smartphone adoption makes content more accessible to consumers.
Risks
WinPro Industries Ltd. faces several inherent risks typical of the film and entertainment industry:
Project-Specific Risk: The success of any film is highly unpredictable, with significant financial investment at stake for each project. Box office failures can lead to substantial losses.
Changing Audience Tastes: Rapid shifts in audience preferences and content consumption habits can render past successful formulas ineffective.
Intense Competition: A highly fragmented market with numerous established and new players, including global studios and OTT giants.
High Production Costs: Escalating costs for talent, technology, and marketing can impact profitability.
Piracy: Content piracy remains a significant threat, eroding legitimate revenue streams.
Regulatory & Censorship Risks: Government regulations, censorship board decisions, and evolving content guidelines can impact production and distribution.
Economic Downturns: Discretionary spending on entertainment is sensitive to economic conditions.
Management & Ownership
In India, most publicly listed companies, especially in traditional sectors, are promoter-driven, meaning the founding family or individuals typically hold a significant controlling stake and are actively involved in strategic decision-making.
For WinPro Industries Ltd., the quality of management would be assessed based on their track record of successful film projects, financial prudence, ability to attract and retain creative talent, strategic vision for adapting to industry changes (e.g., digital shift), and corporate governance practices. Without specific information, it's difficult to comment on the particular strengths or weaknesses of WinPro's management and promoter group. The ownership structure would likely show a significant promoter holding, with the remainder held by institutional investors and the public.
Outlook
The outlook for WinPro Industries Ltd. is influenced by its ability to navigate the dynamic Indian entertainment landscape. The bull case rests on the company's capacity to consistently produce compelling content that resonates with evolving audience tastes, effectively monetize its IP across theatrical and digital platforms, and adapt to technological and distribution shifts. A strong content pipeline, strategic partnerships with OTT platforms, and potential for regional or international expansion could drive growth. The Indian entertainment market is fundamentally strong with a large consumer base and increasing digital penetration.
Conversely, the bear case highlights the inherent risks of the film industry, particularly the high probability of project failures and intense competition. Poor creative choices, inability to control production costs, failure to adapt to new distribution models (like OTT dominance impacting theatrical windows), and continued threats from piracy could severely impact profitability and market standing. The company's future performance will heavily depend on its specific content strategy, execution capabilities, and financial management in a highly uncertain creative business.
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| #(Fig in Cr.) | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Expenditure | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Profit | -0 | -0 | -0 | -0 | -0 | -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 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | -0 | -0 | -0 | -0 | -0 | -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 | -0 | -0 | 0 | 0 | 0 | -0 |
| Adjustments | 0 | 0 | 0 | -0 | -0 | -0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | -0 | -0 | -0 | -0 | -0 | -0 | 0 | 0 | 0 | -0 |
| Adjusted Earnings Per Share | -0 | -0 | -0 | -0 | -0 | -0 | 0 | 0 | 0 | -0 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 92 | 100 | 91 | 65 | 69 | 185 | 144 | 0 | 0 | 0 | 0 | 0 |
| Other Income | 0 | 0 | 0 | 0 | 0 | 10 | 8 | 0 | 0 | 0 | 0 | 0 |
| Total Income | 92 | 101 | 91 | 65 | 69 | 195 | 152 | 0 | 0 | 0 | 0 | 0 |
| Total Expenditure | 93 | 100 | 91 | 64 | 67 | 161 | 131 | 1 | 0 | 0 | 0 | 0 |
| Operating Profit | -0 | 1 | 0 | 0 | 2 | 34 | 20 | -1 | -0 | -0 | 0 | 0 |
| Interest | 0 | 0 | 0 | 0 | 0 | 7 | 8 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | -131 | -9 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | -1 | 0 | 0 | 0 | 2 | -104 | 3 | -1 | -0 | -0 | 0 | 0 |
| Provision for Tax | -0 | 0 | 0 | 0 | 1 | 10 | 1 | 0 | 0 | 0 | 0 | 0 |
| Profit After Tax | -1 | 0 | 0 | 0 | 2 | -114 | 2 | -1 | -0 | -0 | 0 | 0 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | -1 | 0 | 0 | 0 | 2 | -114 | 2 | -1 | -0 | -0 | 0 | 0 |
| Adjusted Earnings Per Share | -0.1 | 0 | 0 | 0 | 0.2 | -11.4 | 0.2 | -0.1 | -0 | -0 | 0 | 0 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 0% | 0% | -100% | -100% |
| Operating Profit CAGR | 0% | 0% | -100% | 0% |
| PAT CAGR | 0% | 0% | 0% | 0% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | -32% | -13% | -23% | -14% |
| ROE Average | 1% | -1% | 1% | -13% |
| ROCE Average | 1% | -0% | 3% | -6% |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Shareholder's Funds | 130 | 131 | 131 | 131 | 133 | 19 | 21 | 34 | 33 | 33 | 33 |
| 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 | 19 | 17 | 18 | 18 | 18 |
| Total Current Liabilities | 23 | 18 | 17 | 47 | 38 | 253 | 32 | 20 | 18 | 18 | 18 |
| Total Liabilities | 153 | 148 | 148 | 178 | 171 | 272 | 72 | 70 | 70 | 70 | 70 |
| Fixed Assets | 1 | 1 | 1 | 1 | 1 | 0 | 1 | 1 | 1 | 1 | 0 |
| Other Non-Current Assets | 139 | 140 | 139 | 138 | 72 | 2 | 0 | 0 | 0 | 0 | 0 |
| Total Current Assets | 13 | 8 | 8 | 39 | 99 | 270 | 71 | 69 | 69 | 69 | 69 |
| Total Assets | 153 | 148 | 148 | 178 | 171 | 272 | 72 | 70 | 70 | 70 | 70 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | -1 | 0 | 0 | 0 | 0 | 0 | 3 | 1 | 0 | 0 | 0 |
| Cash Flow from Operating Activities | -30 | -0 | -3 | 0 | 0 | -28 | 76 | -14 | 0 | -0 | -0 |
| Cash Flow from Investing Activities | 31 | 0 | 3 | 0 | 0 | -42 | 8 | 0 | 0 | 0 | 0 |
| Cash Flow from Financing Activities | 0 | 0 | -0 | -0 | 0 | 73 | -86 | 13 | -0 | 0 | 0 |
| Net Cash Inflow / Outflow | 1 | -0 | 0 | 0 | 0 | 2 | -2 | -1 | -0 | -0 | -0 |
| Closing Cash & Cash Equivalent | 0 | 0 | 0 | 0 | 0 | 3 | 1 | 0 | 0 | 0 | 0 |
| # | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | -0.07 | 0.04 | 0.01 | 0.03 | 0.16 | -11.36 | 0.21 | -0.08 | -0.02 | -0.03 | 0.02 |
| CEPS(Rs) | -0.03 | 0.07 | 0.03 | 0.04 | 0.16 | -11.35 | 0.23 | -0.07 | -0.01 | -0.02 | 0.03 |
| DPS(Rs) | 0 | 0 | 0 | 0 | 0 | 0.2 | 0 | 0 | 0 | 0 | 0 |
| Book NAV/Share(Rs) | 13.02 | 13.06 | 13.07 | 13.1 | 13.26 | 1.88 | 2.12 | 2.04 | 2.02 | 1.99 | 2.01 |
| Core EBITDA Margin(%) | -0.86 | 0.57 | 0.37 | 0.63 | 3.1 | 12.98 | 8.69 | 0 | 0 | 0 | 0 |
| EBIT Margin(%) | -0.77 | 0.48 | 0.13 | 0.46 | 3.21 | -52.4 | 7.84 | 0 | 0 | 0 | 0 |
| Pre Tax Margin(%) | -0.79 | 0.48 | 0.13 | 0.46 | 3.2 | -56.1 | 2.3 | 0 | 0 | 0 | 0 |
| PAT Margin (%) | -0.77 | 0.38 | 0.13 | 0.46 | 2.38 | -61.34 | 1.49 | 0 | 0 | 0 | 0 |
| Cash Profit Margin (%) | -0.35 | 0.65 | 0.37 | 0.63 | 2.38 | -61.26 | 1.63 | 0 | 0 | 0 | 0 |
| ROA(%) | -0.42 | 0.26 | 0.08 | 0.18 | 0.94 | -51.23 | 1.24 | -1.15 | -0.29 | -0.4 | 0.25 |
| ROE(%) | -0.54 | 0.3 | 0.09 | 0.23 | 1.24 | -150.01 | 10.67 | -3.94 | -1.02 | -1.41 | 0.88 |
| ROCE(%) | -0.54 | 0.37 | 0.09 | 0.23 | 1.67 | -84.29 | 18.86 | -2.76 | -0.61 | -0.83 | 0.53 |
| Receivable days | 94.43 | 28.97 | 22.47 | 115.68 | 176.13 | 204.05 | 291.62 | 0 | 0 | 0 | 0 |
| Inventory Days | 3.75 | 4.93 | 7.09 | 9.97 | 9.39 | 0 | 0 | 0 | 0 | 0 | 0 |
| Payable days | 138.85 | 73.09 | 69.53 | 180.3 | 194.11 | 219.79 | 227.75 | 0 | 0 | 0 | 0 |
| PER(x) | 0 | 238.96 | 1493.69 | 775.92 | 257.2 | 0 | 43.84 | 0 | 0 | 0 | 162.71 |
| Price/Book(x) | 0.5 | 0.7 | 1.39 | 1.77 | 3.16 | 25.92 | 4.42 | 2.7 | 1.12 | 1.12 | 1.44 |
| Dividend Yield(%) | 0 | 0 | 0 | 0 | 0 | 0.41 | 0 | 0 | 0 | 0 | 0 |
| EV/Net Sales(x) | 0.71 | 0.92 | 2 | 3.58 | 6.1 | 3.05 | 0.65 | 0 | 0 | 0 | 0 |
| EV/Core EBITDA(x) | -199.25 | 122.02 | 542.58 | 568.59 | 189.98 | 16.59 | 4.59 | -87.11 | -322.99 | -138.11 | 101.8 |
| Net Sales Growth(%) | 2.47 | 9.13 | -9.5 | -28.85 | 6.17 | 169.71 | -22.38 | -100 | 0 | 0 | 0 |
| EBIT Growth(%) | -216.21 | 167.9 | -74.6 | 144.57 | 635.05 | -4505.83 | 111.61 | -106.85 | 73.26 | -34.98 | 163.39 |
| PAT Growth(%) | -207.89 | 154.54 | -68.37 | 145.24 | 445.9 | -7065.83 | 101.88 | -138.3 | 74.75 | -36.24 | 162.8 |
| EPS Growth(%) | -208.3 | 154.53 | -68.35 | 145.39 | 445.48 | -7066.77 | 101.88 | -138.31 | 74.82 | -36.41 | 162.99 |
| Debt/Equity(x) | 0 | 0 | 0 | 0 | 0 | 4.18 | 0.03 | 0.03 | 0.02 | 0.02 | 0.02 |
| Current Ratio(x) | 0.55 | 0.44 | 0.47 | 0.83 | 2.57 | 1.07 | 2.23 | 3.51 | 3.78 | 3.75 | 3.81 |
| Quick Ratio(x) | 0.51 | 0.34 | 0.37 | 0.79 | 2.52 | 1.07 | 2.23 | 3.51 | 3.78 | 3.75 | 3.81 |
| Interest Cover(x) | -44.56 | 342.53 | 175 | 332.89 | 256.07 | -14.17 | 1.42 | -16.96 | 0 | -107.15 | 0 |
| Total Debt/Mcap(x) | 0 | 0 | 0 | 0 | 0 | 0.16 | 0.01 | 0.01 | 0.01 | 0.02 | 0.01 |
| # | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 1.84 | 1.84 | 1.84 | 1.84 | 1.84 | 1.84 | 1.84 | 1.84 | 1.84 | 1.84 |
| FII | 1.25 | 0.79 | 0.79 | 0.79 | 0.79 | 0.79 | 0.79 | 0.79 | 0.79 | 0.79 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.06 | 1.06 | 1.06 |
| Public | 96.91 | 97.37 | 97.37 | 97.37 | 97.37 | 97.37 | 97.37 | 96.31 | 96.31 | 96.31 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0.18 | 0.18 | 0.18 | 0.18 | 0.18 | 0.18 | 0.18 | 0.18 | 0.18 | 0.18 |
| FII | 0.13 | 0.08 | 0.08 | 0.08 | 0.08 | 0.08 | 0.08 | 0.08 | 0.08 | 0.08 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.11 | 0.11 | 0.11 |
| Public | 9.69 | 9.73 | 9.73 | 9.73 | 9.73 | 9.73 | 9.73 | 9.63 | 9.63 | 9.63 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | — | — | -100% | -100% |
| Operating Profit CAGR | — | — | -100% | — |
| PAT CAGR | — | — | — | — |
| Share Price CAGR | -32% | -13% | -23% | -14% |
| ROE Average | +1% | -1% | +1% | -13% |
| ROCE Average | +1% | 0% | +3% | -6% |
| # | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 1.84 | 1.84 | 1.84 | 1.84 | 1.84 | 1.84 | 1.84 | 1.84 | 1.84 | 1.84 |
| FII | 1.25 | 0.79 | 0.79 | 0.79 | 0.79 | 0.79 | 0.79 | 0.79 | 0.79 | 0.79 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.06 | 1.06 | 1.06 |
| Public | 96.91 | 97.37 | 97.37 | 97.37 | 97.37 | 97.37 | 97.37 | 96.31 | 96.31 | 96.31 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0.18 | 0.18 | 0.18 | 0.18 | 0.18 | 0.18 | 0.18 | 0.18 | 0.18 | 0.18 |
| FII | 0.13 | 0.08 | 0.08 | 0.08 | 0.08 | 0.08 | 0.08 | 0.08 | 0.08 | 0.08 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.11 | 0.11 | 0.11 |
| Public | 9.69 | 9.73 | 9.73 | 9.73 | 9.73 | 9.73 | 9.73 | 9.63 | 9.63 | 9.63 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 |
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