MUMBAI:
Mumbai based Thinkink Picturez Limited (BSE Code – 539310), a leading player in the global entertainment industry is considering bonus issue and stock split. Meeting of the board of directors is scheduled to be held on Friday, 1 March 2024 to consider and approve for bonus shares and stock split subject to regulatory approvals and shareholders’ approval. In addition to rewarding the existing shareholders, the bonus and stock split will enhance liquidity in the company. Reflecting the company’s strong financial performance and commitment to returning value to shareholders, company will also consider declaring a dividend of up to Rs. 3 per share in the board meeting on 1 March.
The Board will also consider the ratio of bonus issue to existing shareholders of the company along with sub-division of company’s equity shares of Rs. 5 face value in the meeting on March 1, 2024 subject to approvals from relevant regulatory approvals. Vimal Kumar Lahoti, Jt. Managing Director of Thinkink Picturez Limited, said,“Company stands on the cusp of a remarkable transformation in the entertainment industry. We feel proud to inform all our stakeholders that the company is progressing well on its long-term growth roadmap and reporting excellent operational and financial performance.
Reflecting the company’s strong commitment to returning value to shareholders the company is considering bonus issue. In addition to rewarding the
existing shareholders for their continued support and increasing the equity base of the company, the bonus and stock split will enhance liquidity in the company. We expect the growth momentum to continue and expect to get further boost in coming years.”
Incorporated in 2008, ThinkInk Picturez Ltd is an entertainment provider, operating across television, movies and other entertainment platforms. Recently, company has strategically expanded into the international market with the establishment of a state-of- the-art VFX & OTT Platform company in the United Arab Emirates (UAE). This significant move marks a pivotal milestone in the company’s journey as it ventures into new business opportunities in the field of VFX and post-production, while also venturing into the realm of Over-The-Top (OTT) content distribution.
The newly established VFX & OTT Platform company in the UAE will serve as the cornerstone for Thinkink Picturez Ltd’s ambitious international growth plans. The company aims to capitalize on the growing demand for high-quality visual effects and post-production services by leveraging its extensive experience in the field. The UAE venture will enable Thinkink Picturez Ltd to cater to clients and projects from all corners of the globe.
In addition to its VFX and post-production offerings, company also launched of its own OTT platform. This platform will provide a diverse library of movies and web series, all localized in various languages to cater to a global audience. With this, the company intends to monetize its vast library of previously created assets and generate revenue from a worldwide audience.
For Nine months ended December 2023, the company reported a total income of Rs. 9.07 crore, growth of 38.8% Y-o-Y as compared to total income of Rs. 6.53 crore in the corresponding period last year. Net profit of the company also reported 7% rise to Rs. 3.75 crore for nine months of FY24 ended December 2023.
Recently, Raaj Shaandilyaa, Managing Director of the company received the Iconic Gold Awards for Best Director (Comedy Movie) for Dream Girl 2 (2023).
With the establishment of this new company in the UAE, Thinkink Picturez Ltd is poised to reshape the landscape of international entertainment, bringing its innovative VFX solutions and captivating content to a broader audience. With a steadfast commitment to delivering top-notch cinematic experiences, company’s decision to expand into the UAE aligns perfectly with its vision for global expansion and diversification. The UAE’s strategic location, world-class infrastructure, and burgeoning entertainment industry make it the ideal hub for the company’s international operations.
