Studio LSD Limited (STUDIOLSD)
Latest quarterly results (H1 FY26)
In its latest reported quarter, H1 FY26, Studio LSD's revenue was ₹39.3 Cr, and net profit ₹-3.5 Cr; the operating margin was -12.3%.
| H1 FY26 (₹ Cr) | Value | YoY | vs prev. half |
|---|---|---|---|
| Revenue | ₹39.3 | — | — |
| Operating profit | ₹-4.8 | — | — |
| Net profit | ₹-3.5 | — | — |
| EPS (₹) | -0.81 | — | — |
| Operating margin | -12.3% | — | — |
STUDIOLSD delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 100.0% of the STUDIOLSD shares traded on NSE were taken to delivery, against the stock's own 20-session average of 87.62%. That is close to its usual level. Turnover was only ₹1 lakh, so a handful of trades can move this figure. Volume was 0.4 times its average, well below normal.
Delivery in the last 5 sessions: 100.0% · 80.0% · 83.3% · 100.0% · 100.0%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Studio LSD Limited has submitted its Reconciliation of Share Capital Audit Report under Regulation 76 of SEBI Regulations for the quarter ended September 30, 2026. The company reported a total issued and listed capital of 5,18,91,755 equity shares with a face value of Rs. 2 each. Entire shareholding (100%) is in dematerialized form, with 92.27% held in CDSL and 7.73% held in NSDL. The total number of security holders stood at 2,311 at the end of the quarter.
- Total issued and listed capital stood at 5,18,91,755 equity shares of Rs. 2 face value
- 100.00% of shares are dematerialized (0 physical shares)
- CDSL holds 4,78,79,305 shares (92.27%) while NSDL holds 40,12,450 shares (7.73%)
- Total shareholder count reported at 2,311 as of September 30, 2026
Studio LSD Limited has submitted its confirmation certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended September 30, 2026. The certificate was issued by the company's Registrar and Share Transfer Agent, MUFG Intime India Private Limited, on October 3, 2026. The RTA confirmed that securities received for dematerialisation during the quarter were processed, mutilated, and cancelled as per standard regulations. This is a periodic compliance requirement with zero material impact on financials or operations.
- Compliance certificate submitted under Regulation 74(5) of SEBI Regulations, 2018
- Covers the quarter and half-year ended September 30, 2026
- Issued by RTA MUFG Intime India Private Limited dated October 3, 2026
- Formally filed with the National Stock Exchange on October 13, 2026
Studio LSD Limited has approved the appointment of Aftertrade Broking Private Limited (TM Code: 90113) as an Additional Market Maker for its equity shares. The appointment covers the remaining compulsory market-making period under SEBI ICDR Regulations, valid up to August 24, 2028. It will become effective upon activation by the National Stock Exchange. The agreement entails standard market-making obligations with no special rights or related-party interests.
- Appointment of Aftertrade Broking Private Limited (TM Code: 90113) as an Additional Market Maker
- Mandate valid for the remaining compulsory period up to August 24, 2028
- Approved at the Board meeting held on October 12, 2026 (06:00 PM to 06:35 PM)
- Executed pursuant to Regulation 261 of SEBI ICDR Regulations, 2018 with 0% promoter relation
Studio LSD Limited has approved the appointment of Aftertrade Broking Private Limited (TM Code: 90113) as an Additional Market Maker for its equity shares. The appointment covers the remaining compulsory market-making period under SEBI ICDR Regulations, valid up to August 24, 2028. It will become effective upon activation by the National Stock Exchange. The agreement entails standard market-making obligations with no special rights or related-party interests.
- Appointment of Aftertrade Broking Private Limited (TM Code: 90113) as an Additional Market Maker
- Mandate valid for the remaining compulsory period up to August 24, 2028
- Approved at the Board meeting held on October 12, 2026 (06:00 PM to 06:35 PM)
- Executed pursuant to Regulation 261 of SEBI ICDR Regulations, 2018 with 0% promoter relation
Studio LSD Limited has executed a material co-production agreement on September 25, 2026, with Jar Pictures Studio LLP to co-produce the web series tentatively titled 'Rangbaaz S4'. The series has been commissioned by OTT streaming platform Zee5 under a separate Commissioning Agreement. Specific commercial terms and deal sizes were not disclosed due to confidentiality clauses. The agreement falls under normal business operations, with no changes in management, shareholding, or related-party interests.
- Co-production agreement executed on September 25, 2026, with Jar Pictures Studio LLP
- Project tentatively titled 'Rangbaaz S4', commissioned by OTT platform Zee5
- Commercial deal size kept confidential per non-disclosure provisions in the agreement
- No change in management or shareholding, and not a related-party transaction
Studio LSD Limited announced the voting results of its 10th Annual General Meeting held on September 21, 2026. Both ordinary resolutions presented were approved by shareholders with 99.79% majority support. The passed resolutions include the adoption of audited financial statements for FY 2025-2026 and the re-appointment of retiring director Mr. Parth Shah. A total of 3,87,77,755 votes were polled, representing 74.73% of total outstanding shares.
- Adoption of FY 2025-2026 audited accounts approved with 99.79% votes in favour (3,86,97,755 votes)
- Re-appointment of director Mr. Parth Shah approved with 99.78% votes in favour (3,86,93,755 votes)
- Total voter turnout stood at 74.73% across 38,777,755 polled shares out of 51,891,755 total shares
- Promoter participation in e-voting was 100% of their 38,141,755 shares, voting unanimously in favour
Studio LSD Limited announced that at its 10th Annual General Meeting held on September 21, 2026, members considered the re-appointment of Mr. Parth Shah as a Director liable to retire by rotation. Mr. Shah, a promoter of the company, serves as Whole-time Director (appointed October 4, 2024) and Chief Financial Officer (appointed November 14, 2025). The official voting results under Regulation 44(3) will be submitted separately to the exchange.
- Re-appointment considered at the 10th Annual General Meeting on 21 September 2026
- Mr. Parth Shah previously appointed as Whole-time Director on October 4, 2024, and CFO on November 14, 2025
- Director holds over a decade of experience in the entertainment industry and initial board appointment dates back to January 29, 2020
- Resolution subject to final voting results under Regulation 44(3)
Studio LSD Limited held a board meeting on November 14, 2025, taking note of the resignation of CFO Ms. Ruchika Mishra effective October 25, 2025, and approving the appointment of Whole-time Director Mr. Parth Shah as the new CFO. The Board also reviewed the Monitoring Agency report by Acuité Ratings for H1 FY26 following its ₹74.25 crore IPO (gross fresh issue of ₹59.40 crore), confirming no material deviations in issue proceeds utilization. In addition, unaudited standalone financial results for the half year ended September 30, 2025, were approved with an unmodified limited review report.
- Whole-time Director Parth Shah appointed as CFO effective November 14, 2025, following Ruchika Mishra's resignation on October 25, 2025
- Monitoring Agency reported no deviations in the utilization of ₹53.90 crore net fresh issue proceeds
- IPO proceeds planned allocations include ₹18.00 crore for capex, ₹27.40 crore for working capital, and ₹8.50 crore for general corporate purposes
- Approved standalone financial results for the half year ended September 30, 2025
Studio LSD Limited has scheduled its 10th Annual General Meeting (AGM) for Monday, September 21, 2026 at 04:15 PM IST. The Board has fixed Monday, September 14, 2026 as the cut-off and record date for remote e-voting eligibility and book closure. The remote e-voting window will open on September 17, 2026 and conclude on September 20, 2026. Additionally, the Board approved the Annual Report for FY ended March 31, 2026 and the issue proceeds utilization report for the quarter ended June 30, 2026.
- 10th Annual General Meeting scheduled for September 21, 2026 at 04:15 PM IST
- Cut-off date for remote e-voting and shareholder eligibility fixed as September 14, 2026
- Share transfer book closure set from September 14, 2026 to September 21, 2026
- Remote e-voting window active from September 17, 2026 (9:00 AM) to September 20, 2026 (5:00 PM)
- Approved issue proceeds utilization statement and CA certificate for quarter ended June 30, 2026
Studio LSD Limited has submitted its Monitoring Agency Report for the quarter ended June 30, 2026 (Q1 FY2026-27), issued by Acuité Ratings and Research Limited. The report confirms that no deviation was observed in the utilization of proceeds raised from its Initial Public Offer (IPO). The submission was approved by both the Audit Committee and the Board of Directors on August 14, 2026.
- Acuité Ratings and Research Limited observed zero deviation in IPO proceeds utilization for Q1 FY2026-27.
- Report covers fund deployment for the quarter ended June 30, 2026.
- The Monitoring Agency Report was reviewed and approved by the Board and Audit Committee on August 14, 2026.
Studio LSD Limited approved its FY26 Annual Report and scheduled its 10th Annual General Meeting (AGM) for Monday, September 21, 2026. The remote e-voting period is set from September 17 to September 20, 2026, with the cut-off date on September 14, 2026. Additionally, the Board reviewed the IPO proceeds utilization report for the quarter ended June 30, 2026. The company also announced that the Bombay High Court disposed of a defamation suit in its favour via a consent order, wherein the defendant retracted allegations of IPO fund fraud and issued an unconditional apology.
- 10th Annual General Meeting scheduled for Monday, September 21, 2026 at 04:15 PM IST.
- Cut-off date for e-voting fixed as September 14, 2026, with voting active between September 17 and September 20, 2026.
- Bombay High Court disposed of Suit No. 23626 of 2026 via consent order with an unconditional apology and retraction of fraud allegations against the company.
- Approved Monitoring Agency report and Issue Proceeds utilization statement for the quarter ended June 30, 2026.
Studio LSD Limited has scheduled its 10th Annual General Meeting (AGM) for Monday, September 21, 2026, at 4:15 PM IST. The cut-off date for e-voting eligibility and book closure commences on September 14, 2026, with the remote e-voting window running from September 17 to September 20, 2026. The Board also reviewed and approved the Monitoring Agency report and IPO proceeds utilization statement for the quarter ended June 30, 2026. Furthermore, the Bombay High Court disposed of the company's defamation suit against a shareholder via a consent order, wherein the defendant tendered an unconditional apology and withdrew allegations regarding IPO fund misappropriation without any financial penalty.
- 10th Annual General Meeting convened for September 21, 2026 at 04:15 PM IST.
- Cut-off date for remote e-voting eligibility fixed as September 14, 2026.
- Remote e-voting window active from September 17, 2026 (9:00 AM) to September 20, 2026 (5:00 PM).
- Approved Monitoring Agency report and IPO issue proceeds utilization statement for the quarter ended June 30, 2026.
- Bombay High Court disposed of Suit (L) No. 23626 of 2026 following defendant's unconditional apology withdrawing fraud allegations.
Studio LSD Limited has entered into a 10-year non-exclusive licensing agreement with All About Content Limited on August 4, 2026. This agreement grants the company rights to exhibit, broadcast, and exploit a catalogue of music and audio-visual works for its content production and music business. Although the financial consideration remains undisclosed due to confidentiality clauses, the company has officially classified this as a 'material' agreement under its internal policy. The deal involves no related parties or shareholding changes.
- 10-year term for the licensing of a music and audio-visual content catalogue.
- Agreement executed on August 4, 2026, with All About Content Limited.
- Rights acquired are non-exclusive, covering telecast, broadcast, and public performance.
- Company has formally designated the agreement as 'Material' per Board-approved policy.
- Zero related-party involvement or promoter interest in the counterparty entity.
Studio LSD Limited has entered into a 10-year agreement with All About Content Limited for the non-exclusive licensing of a music and song catalogue. The deal, executed on August 4, 2026, grants the company rights to exhibit, broadcast, and distribute audio-visual works to support its content-production and music business segments. Although the financial consideration is not disclosed due to confidentiality clauses, the company has formally classified this as a 'material' agreement under its board policy. This provides a long-term asset base for the company's media operations over the next decade.
- Agreement term is fixed for a period of 10 years
- Rights acquired include exhibition, telecast, broadcast, and public performance of musical works
- The agreement was executed on August 4, 2026
- The company has officially designated the deal as 'Material' under its Board-approved policy
- Counterparty is All About Content Limited, a non-related party
Studio LSD Limited has approved the appointment of MUFG Intime India Private Limited as its new Registrar and Share Transfer Agent (RTA), replacing Purva Share Registry (India) Private Limited. The Board passed this resolution on July 31, 2026, to leverage MUFG's larger infrastructure and market reputation for better investor services. The transition process, including data migration and a tripartite agreement, is currently underway. Until the effective date is finalized and announced, the existing RTA will continue to handle services.
- Board resolution passed on July 31, 2026, to change the RTA service provider
- MUFG Intime India Private Limited (SEBI Reg No. INR000004058) appointed as the new agent
- Transition from the existing agent, Purva Share Registry (India) Private Limited, is in progress
- Effective date of the change will be intimated separately after definitive agreements are signed
Financial Performance
Revenue Growth by Segment
Revenue from operations grew 2% YoY to ₹104.48 Cr, primarily driven by commissioned television production contracts with broadcasters and streaming platforms.
Geographic Revenue Split
100% of revenue is generated within India, with core operations and production infrastructure based in Mumbai.
Profitability Margins
Operating Margin (EBITDA) improved from 14.46% to 14.85% (+39 bps) and Net Margin (PAT) improved from 10.64% to 11.17% (+53 bps), reflecting enhanced operational efficiency.
EBITDA Margin
14.85%, representing a 4.7% YoY increase in absolute EBITDA to ₹15.51 Cr, driven by disciplined financial management and operational leverage.
Capital Expenditure
₹0 Cr spent on capital assets via CSR; the company maintains an asset-light model by leasing production infrastructure from third parties.
Credit Rating & Borrowing
Not disclosed; however, the company maintains a debt-free structure with a Debt-to-Equity ratio of NA for both FY24 and FY25.
Operational Drivers
Raw Materials
Creative talent (actors/writers), scripts, and leased production infrastructure (studios/equipment), which constitute the primary cost of production.
Import Sources
100% domestic sourcing within India, primarily from the Maharashtra region.
Key Suppliers
Third-party studio owners for leased infrastructure and various talent agencies for creative professionals.
Capacity Expansion
Current capacity is focused on commissioned TV content; planned expansion involves building an IP-owned content library for digital monetization.
Raw Material Costs
Optimized through strategic planning and resource allocation; specific cost as % of revenue is not disclosed but contributes to the 14.85% EBITDA margin.
Manufacturing Efficiency
Efficiency is measured by the ability to meet targeted air dates for episode delivery to broadcasters as per contract terms.
Logistics & Distribution
Distribution is handled via digital and satellite delivery to broadcasters; costs are not disclosed as a separate % of revenue.
Strategic Growth
Expected Growth Rate
2%
Growth Strategy
Growth will be achieved by transitioning from a commissioned production model (per-episode fee) to an Intellectual Property (IP) ownership model. By retaining IP rights for original content and songs, the company can monetize its library across multiple digital and OTT platforms, creating long-term recurring revenue streams beyond one-time production fees.
Products & Services
Television shows, OTT series, and music/songs.
Brand Portfolio
Studio LSD
New Products/Services
IP-owned songs and exclusive digital content tailored for OTT platforms; expected to provide higher-margin revenue compared to commissioned work.
Market Expansion
Expansion into the digital content ecosystem and leveraging modern distribution models to reach a broader audience.
Market Share & Ranking
Not disclosed; company is a newly listed entity on the NSE SME Platform (EMERGE).
Strategic Alliances
Collaborations with talented artists, scriptwriters, and industry professionals to enhance creative capabilities.
External Factors
Industry Trends
The industry is shifting from traditional TV to digital/OTT distribution. Studio LSD is positioning itself by moving from commissioned production to IP ownership to capture long-term value in the digital ecosystem.
Competitive Landscape
Highly competitive market with numerous independent studios and large production houses vying for broadcaster commissions.
Competitive Moat
Moat is built on strong broadcaster relationships, a registered concept protection process, and a debt-free capital structure providing financial agility.
Macro Economic Sensitivity
Sensitive to the Indian services sector growth (PMI services expansion) and advertising market trends which influence broadcaster budgets.
Consumer Behavior
Shift toward on-demand digital content and diverse genres affecting the type of content commissioned by platforms.
Geopolitical Risks
Minimal impact due to domestic focus, though global streaming trends influence local commissioning strategies.
Regulatory & Governance
Industry Regulations
Compliance with the Companies Act 2013, SEBI (LODR) Regulations 2015, and content broadcasting standards.
Environmental Compliance
Minimal impact; company focuses on safety protocols and environmental compliance within its studio operations.
Taxation Policy Impact
Not explicitly stated; however, the PAT margin of 11.17% is calculated after all applicable taxes.
Legal Contingencies
No material pending court cases or case values in INR disclosed; management certifies no fraudulent or illegal transactions occurred.
Risk Analysis
Key Uncertainties
Content reception and broadcaster contract renewals represent the primary business risks, potentially impacting 100% of the commissioned revenue stream.
Geographic Concentration Risk
100% of revenue is concentrated in the Indian market.
Third Party Dependencies
High dependency on third-party infrastructure leases and the distribution platforms of broadcast partners.
Technology Obsolescence Risk
Risk of traditional TV decline; mitigated by the strategic shift toward digital content and IP ownership.
Credit & Counterparty Risk
Credit exposure is primarily to established broadcasters and streaming platforms with generally reliable payment cycles.
