### **Overview** Basilic Fly Studio Ltd (BFS) is a globally integrated visual effects (VFX) powerhouse headquartered in Chennai, India, with a rapidly expanding international footprint. Founded over a decade ago by Mr. Balakrishnan and Mrs. Sundaram Yogalakshmi, BFS has evolved from a support services provider into a full-service, end-to-end digital storytelling studio serving elite clients across film, television, streaming, advertising, animation, and gaming. Listed on the NSE Emerge platform in September 2023, BFS has emerged as a key player in the global VFX ecosystem, driven by strategic acquisitions, technological innovation, and a scalable global delivery model. --- ### **Core Business & Offerings** BFS delivers end-to-end VFX services spanning: - **Pre-production**: Concept art, storyboarding, previsualization - **Production**: On-set VFX supervision - **Post-production**: Asset creation, animation, lighting, compositing, 2D-to-3D conversion The company serves **over 400 global clients**, including **Netflix, Amazon, Disney, HBO, Sony, Warner Bros, Paramount, Apple, and Lucasfilm**, and has contributed to high-profile franchises such as: - *Avatar* (and *The Way of Water*) - *Avengers: Endgame* - *The Last of Us* - *Mission: Impossible – The Final Reckoning* - *The Witcher* - *Loki Season 2* - *The Old Guard 2* - *Thunderbolts: The New Avengers* BFS is also expanding into **gaming cinematics, immersive content (VR/AR), and product modeling**, diversifying its revenue streams and future-proofing its service portfolio. --- ### **Strategic Growth Drivers & Vision 2026–27** BFS is executing a bold **Vision 2026–27** to become a fully integrated, AI-driven, global VFX leader. Key strategic pillars include: 1. **Global Expansion & Geographic Diversification** - Operates across **5 countries** with studios in **Chennai, Pune, Bengaluru, London, Paris, Vancouver, and Los Angeles**. - Expanding into **Eastern Europe and South Korea**, supported by synergies from the One of Us acquisition and favorable tax regimes. - Increasing presence in **North America and Europe**, targeting €30M+ revenue from high-budget productions in the UK and France. 2. **AI-Augmented, Scalable VFX Network** - Developing **AI/ML-driven workflows** to automate repetitive tasks (e.g., rotoscoping, tracking) and enhance productivity. - Establishing an **AI/ML Lab in London** in partnership with UK and Indian teams. - Investing in **Universal Scene Description (USD)** pipelines for modular, real-time asset sharing across global teams (Phase 2 targeted for completion by H1 FY27). 3. **Global Delivery & "Follow-the-Sun" Model** - Combines **high-end creative work** in London/Paris with **cost-efficient production** in India to optimize margins. - Utilizes **cloud-based collaboration (AWS-powered infrastructure)** enabling 24/7 production cycles across time zones. - Supports seamless integration across departments via unified project management, real-time file sync, and centralized storage. --- ### **Transformational Acquisition: One of Us (OOU)** In **July 2024**, BFS acquired a **70% majority stake** in **One of Us Limited**, a **BAFTA- and Emmy-winning VFX studio** based in London and Paris. The acquisition represented a strategic leap, transforming BFS into a globally competitive creative studio. #### **Key Benefits of the Acquisition:** - **Immediate Access to Premium Creative Capability**: OOU has an award-winning track record on *The Crown*, *The Witcher*, *The Alienist*, and *The Matrix Resurrections*. - **Client & Talent Synergies**: Gained **350+ elite VFX artists** (now part of BFS’s **850+ global workforce**), with specialized expertise in **fantasy, sci-fi, and narrative-driven effects**. - **Revenue & Operational Acceleration**: - OOU generates **~£30 million in annual revenue**, while BFS avoids **£10–15 million in setup costs and 5–7 years of R&D**. - Operating a comparable London studio would cost **~£4M/year**—the deal delivers **strong cost-to-revenue leverage**. - **Market Credibility & Direct Contracts**: Transitioned from subcontractor to direct partner for global studios, improving margins and client relationships. - **Technology Transfer**: Inherited OOU’s suite of **AI-powered tools, advanced production pipelines, and proprietary software**. --- ### **Financial Performance & Capital Allocation** - **Achieved ₹300 crore in annual revenue (FY25)**, up from ₹106 crore in FY24 — a **3x year-on-year growth**. - **Q1 FY26 revenue: ₹90 crore (4.8x YoY growth)**, driven by consolidation of OOU and record project wins. - **Order Book & Sales Pipeline**: - Forward order book of **₹150 crore** secured in H1 FY26. - Sales pipeline surged **40% to ₹301.3 crore**, fueled by repeat engagements with Netflix, Amazon, and Sony. - Record bidding volume of **£40.7 million**, indicating high demand and strong client trust. - **Capital Raising & Investment**: - Raised **₹85 crores via Qualified Institutional Placement (QIP)** in Nov 2025, with **57% participation from foreign portfolio investors**. - Funds to be deployed in **technology innovation, global delivery expansion, AI/ML development, and selective M&A**. --- ### **Innovation & Technology Roadmap** - **Cloud Collaboration**: Fully integrated AWS-powered workflow across Chennai, London, Paris, and Vancouver. - **Real-time Rendering & AI Tools**: Implemented to streamline production, reduce rendering times, and enhance creative iteration. - **USD Pipeline**: Being rolled out in modular phases to enable cross-platform, multi-site asset interoperability and **reduce turnarounds by up to 15%**. - **Proprietary R&D**: Leveraging partnerships with tech firms and academic institutions to co-develop next-gen VFX tools. --- ### **Talent & Leadership Expansion** BFS is strengthening its creative and operational leadership globally: - **Adrian De Wet** appointed as **Visual Effects Supervisor & Creative Director, Los Angeles** — brings 30+ years of experience from *Harry Potter*, *The Matrix*, and *The Hunger Games*. - **Audrey Ferrara** joined as **Art Director, Europe**, enhancing creative alignment with Disney and other major studios. - Leadership hires also include **COO, CFO, CHRO**, and senior technical directors to support scalable growth. - Investing in **talent upskilling**, with programs transitioning 2D artists into 3D concept creators. --- ### **Recent Milestones (H1 FY26 / 2025)** - **Sole VFX provider** for Oscar-qualifying short film *Shutter Bird*, affirming creative excellence. - **Partnered with Netflix** as a VFX vendor for **South Indian original content**, marking strategic entry into premium Indian productions. - **Launched new creative hub in Bangalore** for high-end **asset and creature development**, leveraging displaced talent from closed MPC/The Mill. - Delivered major VFX work for **Netflix, Disney, HBO, and Amazon** on high-complexity projects, including a **₹29.71 crore (USD 3.5M) Netflix contract**. - Achieved **record project deliveries** in H1 FY26, including *The Sandman (S2)*, *Ballerina*, and *Die My Love*.