Sunshine Pictures swings to thin ₹0.25 Cr profit YoY, revenue plunges 91% QoQ from Q4 peak
revenue +15215.6% · margins expanding
₹6.48 Cr
+15215.6% YoY
₹0.25 Cr
3.81%
₹0.1
Sunshine Pictures' maiden result as a listed company — for the quarter ended June 30, 2026 — shows standalone revenue of ₹6.48 Cr and net profit of ₹0.25 Cr (₹25.30 lakh), a turnaround from a ₹1.08 Cr loss in the year-ago quarter but a 91% sequential collapse from the ₹69.38 Cr revenue and ₹39.71 Cr profit booked in Q4 FY26. The company itself flags, in its notes to the results, that film production/distribution revenue is recognised only on theatrical release or content-delivery completion, so quarter-on-quarter and year-on-year comparisons are not meaningful here — Q4 FY26's outsized numbers reflect a large release/licence delivery that quarter, while Q1 FY26 (₹4.23 lakh revenue, a loss) and the current quarter both fall in gaps between releases.
Q1 FY-2027 vs prior quarters
No year-ago quarter on record — YoY cells may be blank.
Net profit margin was 3.85% this quarter versus 56.94% in the blockbuster Q4 FY26 and a negative 133.75% in the loss-making year-ago quarter — the swing is a function of which quarters had content to recognise revenue on, not an operating margin trend. Operational cost (₹4.80 Cr) was the dominant expense line at ~77% of total costs, with a ₹0.09 Cr deferred-tax charge and no current tax this quarter. There is no formal management guidance on record and no analyst/street estimates were found for this quarter — the stock listed only three weeks before this print (25-Aug-2026), and IPO research notes reviewed do not carry quarter-specific forecasts.
What the summary numbers don't show
Revenue of ₹6.48 Cr, down 91% QoQ from ₹69.38 Cr in Q4 FY26 — company states results aren't comparable across quarters due to release-driven revenue recognition
No exceptional items this quarter, vs a ₹18.22 lakh one-off Labour Law statutory impact in Q4 FY26 (₹31.56 lakh for full FY26)
Basic/diluted EPS of ₹0.10 for the quarter (not annualised), vs ₹15.07 in Q4 FY26 and -₹0.41 in Q1 FY26
The quarter's main corporate development is the IPO itself: the company raised ₹282.14 Cr (₹172.80 Cr fresh issue plus a ₹109.34 Cr offer for sale) at ₹360/share, completed just after the quarter closed, and this is the first result prepared under SEBI listing-regulation format and the first subject to statutory limited review (prior quarters' figures were management-compiled and unreviewed). No press release accompanied the filing beyond the board-meeting outcome letter.
W1
Utilisation of the ₹282.14 Cr IPO proceeds — company has committed to disclose actual utilisation from the next reporting period
W2
Timing/scale of the next theatrical release or content-delivery licence, since revenue and profit are recognised in lumps tied to release calendar rather than a steady run-rate
W3
Whether profitability holds outside blockbuster quarters — current 3.85% NPM on ₹6.48 Cr revenue is the thinnest positive margin in the four quarters shown
Standalone only, no consolidated statement (single entity, no subsidiaries). Figures crisp/legible, columns unambiguous, arithmetic ties exactly (PBT 34.24L − tax 8.94L = PAT 25.30L). No exceptional item this quarter (prior quarters carried a ₹18.22L/₹31.56L one-off Labour Law statutory impact). First result since NSE/BSE listing on 25-Aug-2026; management explicitly states results are not comparable QoQ or YoY given lumpy, release-driven revenue recognition.