Studio LSDShare price, financial results, shareholding and management
- Market cap
- ₹45 cr
- Stock P/E
- -peers 12.8
- Book value
- ₹15.3
- Price to book
- 0.57
- EV / operating profit
- -
- Market cap to sales
- 0.63
- ROCE · FY26
- -1.4%
- ROE · FY26
- -1.9%
- ROE, 3-year average
- 52.3%
- Operating margin · FY26
- -3.5%peers 17.6%
- Sales growth, 3 years
- 15.6%
- Profit growth, 3 years
- -108.5%
- Debt to equity
- 0.00peers 0.11
- Borrowings
- ₹0 cr
- Interest cover
- -24.7×
- Cash from business / op. profit
- 886%
- Debtor days
- 107
- Pledged
- 0.00%
- Promoter holding
- 73.50%
- Change in promoter holding
- 0.00 pts
- Shareholders
- 2,406
- 52-week high / low
- ₹18 / ₹7
- Dividend yield
- 0.00%
- Face value
- ₹2
Tap or hover on any figure for what it means. Our arithmetic on reported figures, at the latest close.
Studio LSD share price chart
Close on 6 Nov 2026 · +0.58% on the day · Vol 8,000
Daily prices to 6 Nov 2026, adjusted for splits and bonuses. Closing prices only: check the exchange for the live price.
Share price returns
To the close of 6 Nov 2026
- 1 month
- +1.8%
- 3 months
- -1.1%
- 6 months
- -22.0%
- 1 year
- -48.5%
- Since IPO
- -83.9%
- Traded a day, 20 days
- ₹0.04 cr
- Taken for delivery
- 93%
Business growth
Sales and net profit, from the reported results
| Sales | Profit | |
|---|---|---|
| FY26 on FY25 | -31% | -108% |
| 3 years, a year | +16% | - |
| Latest half, H2 FY26 | -22% | -47% |
About Studio LSD: business, products and customers
Studio LSD makes television serials that channels such as Sony, Zee TV and Colors TV order and air, and it has started making its own songs and shows for online platforms. Its shares trade on NSE Emerge.
Studio LSD, set up in Mumbai in 2017 as LSD Films, develops a show idea, registers the title and pitches it to channels; once a channel signs, the company runs the whole production: cast and crew, locations, sets, budgets and post-production. Its shows include Radha Mohan, Shiv Shakti and Rabb Se Hai Dua on Zee TV, Bahu Begum on Colors TV, Beyhadh-2 and Pukaar on Sony TV, Marathi shows for Zee Marathi and, in 2025, Rishto se Bandhi Gauri on Sun Neo.
The model shapes the numbers. The channel commissions the show, keeps the right to air it on television and OTT, and pays a fee per episode agreed in the contract, so Studio LSD earns a production margin rather than income from owning the content. Most costs are fees to artists and crew and rent for studios leased from third parties, so the company owns very little equipment, and the permanent payroll is small because crews are engaged per show.
Read more about the business
The company now wants to own its content: original songs released on digital platforms in 2025, and web series, short videos and music for OTT, YouTube and streaming services. Owned content changes the cash pattern, because the cost of a show or song is held as inventory and charged only when it starts earning, so cash goes out before any income comes in. The chairperson's letter says the money raised at listing goes to building a studio, working capital and general purposes.
Among companies listed on the SME platforms, Inspire Films also makes original shows for television and OTT channels, and Baweja Studios produces films, web series and TV shows; both earn from producing content for platforms, the same work Studio LSD does.
From the FY25 annual report (chairperson's letter, board's report, management discussion and financial statements).
Read the deeper study ↓In its favour
- It has little debt for its size: debt to equity 0.00.
- The promoters own a large part of the company: 73.50%.
To watch
- Use of the money raised at listing for a studio and working capital, which the company reports to its audit committee each quarter (Annual report FY25, p.10 and p.23).
- Whether the songs and shows the company owns, now held as inventory, start to earn as it moves into web series, music and OTT releases (Annual report FY25, p.42 and p.74).
- The half-year results to September 2026, after a loss in the first half of FY26 and a small profit in the second half (half-year results, as reported).
- It paid no dividend in the past year.
- The business used more cash than it brought in last year: ₹22.3 cr went out in FY26.
From the company's documents first, then the reported figures read by fixed rules, the same for every company. Facts, not a view on the shares.
Studio LSD revenue and profit growth
Half-yearly results · Profit and lossSales have grown steadily. Last year profit grew more slowly than sales, so the profit kept from each rupee of sales slipped.
SME companies report every six months. In the latest half, sales were lower than in the same half a year before. Profit grew more slowly than sales, so each rupee of sales left a little less profit.
Studio LSD half-yearly results
SME companies report every six months · ₹ crore
| H1FY25 | H2FY25 | H1FY26 | H2FY26 | |
|---|---|---|---|---|
| Sales | 62.53 | 41.95 | 39.27 | 32.84 |
| Expenses | 53.08 | 35.89 | 44.09 | 30.54 |
| Operating profit | 9.45 | 6.06 | -4.82 | 2.31 |
| OPM | 15.1% | 14.4% | -12.3% | 7.0% |
| Interest | 0 | 0 | 0.02 | 0 |
| Depreciation | 0.12 | 0.15 | 0.10 | 0.35 |
| Profit before tax | 9.54 | 6.23 | -3.89 | 3.12 |
| Net profit | 7.03 | 4.74 | -3.49 | 2.49 |
Studio LSD profit and loss
Full years to March, FY20 to FY26 · ₹ crore, consolidated where reported
| FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|
| Sales | 46.89 | 5.42 | 14.61 | 46.68 | 102.48 | 104.48 | 72.11 |
| Expenses | 44.74 | 6.94 | 13.63 | 42.94 | 87.65 | 88.94 | 74.62 |
| Operating profit | 2.15 | -1.52 | 0.98 | 3.74 | 14.83 | 15.54 | -2.51 |
| OPM | 4.6% | -28.0% | 6.7% | 8.0% | 14.5% | 14.9% | -3.5% |
| Other income | 0.01 | 0.39 | 0 | 0.04 | 0.02 | 0.50 | 2.22 |
| Interest | 0.64 | 0.07 | 0.04 | 0.10 | 0.01 | 0 | 0.03 |
| Depreciation | 0.06 | 0.05 | 0.03 | 0.04 | 0.18 | 0.27 | 0.45 |
| Profit before tax | 1.46 | -1.25 | 0.91 | 3.64 | 14.66 | 15.77 | -0.77 |
| Tax rate | 25.3% | -0.8% | 0.0% | 23.4% | 25.6% | 25.4% | -30.7% |
| Net profit | 1.09 | -1.24 | 0.91 | 2.79 | 10.90 | 11.77 | -1 |
| EPS ₹ | 1,090 | -1,240 | 910 | 2,790 | 10,900 | 2.88 | -0.21 |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
A tax rate above 60% or below zero (FY21, FY26) comes from tax charged on a small or negative profit, as reported.
Earnings per share before FY25 is on the share count of that time, before later bonus or share issues, so it does not compare with the years after.
Studio LSD profitability
Margins and returns on capitalLast year the company kept less from each rupee of sales than the year before. Its costs were more than its sales. It earns a low return on the money it uses.
Operating margin, every year
Per cent of sales kept before interest, depreciation and tax
| FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|
| Operating margin | 4.6% | -28.0% | 6.7% | 8.0% | 14.5% | 14.9% | -3.5% |
| Tax rate | 25.3% | -0.8% | 0.0% | 23.4% | 25.6% | 25.4% | -30.7% |
| ROCE | · | -40.1% | 39.7% | 98.0% | 140.4% | 72.7% | -1.4% |
| ROE | · | -66.0% | 53.1% | 78.3% | 104.7% | 54.2% | -1.9% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Studio LSD debt and cash flow
Balance sheet · Cash flow · Working capitalThe company's own money, its net worth, has grown fast. It has almost no borrowings. Last year the business used more cash than it brought in. It spent more on assets and investments than the business brought in, and raised the rest from loans or shares. Customers take longer to pay than they did in FY24, which ties up more of the company's money in unpaid bills.
Bars below the line are cash going out.
Studio LSD balance sheet
At each 31 March · ₹ crore
| FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|
| Equity capital | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 8.18 | 10.38 |
| Reserves | 2.49 | 1.25 | 2.16 | 4.95 | 15.86 | 19.36 | 68.86 |
| Net worth | 2.50 | 1.26 | 2.17 | 4.96 | 15.87 | 27.54 | 79.24 |
| Borrowings | 1.21 | 0.91 | 0.44 | 0.06 | 0 | 0 | 0 |
| Other liabilities | 14.97 | 3.15 | 1.53 | 13.14 | 20.62 | 19.13 | 13.91 |
| Total liabilities | 18.68 | 5.32 | 4.14 | 18.16 | 36.49 | 46.67 | 93.15 |
| Fixed assets | 0.09 | 0.09 | 0.08 | 0.26 | 0.77 | 0.53 | 2.71 |
| Capital work in progress | 0 | 0 | 0 | 0 | 0 | 0 | 2.27 |
| Investments | 0 | 0 | 0.01 | 0.01 | 1.70 | 11.02 | 7.40 |
| Other assets | 18.59 | 5.23 | 4.05 | 17.89 | 34.02 | 35.12 | 80.77 |
| Receivables | · | · | · | · | · | · | 21.22 |
| Inventory | · | · | · | · | · | · | 17.15 |
| Cash | · | · | · | · | · | · | 31.23 |
| Trade payables | · | · | · | · | · | · | 9 |
Studio LSD cash flow
₹ crore
| FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|
| Cash from operations | 2.49 | -2.05 | 0.55 | 1 | 7.58 | 5.71 | -22.25 |
| Cash from investing | -0.10 | -0.04 | -0.03 | -0.20 | -2.36 | -9.11 | -1.52 |
| Cash from financing | -0.34 | 0.15 | -0.50 | -0.48 | -0.07 | 0 | 52.67 |
| Net cash flow | 2.05 | -1.94 | 0.02 | 0.32 | 5.15 | -3.40 | 28.90 |
| Capital spending | · | · | · | · | · | · | 0 |
Working capital
Days
| FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|
| Debtor days | 90 | 279 | 13 | 117 | 85 | 70 | 107 |
| Cash conversion cycle | 90 | 279 | 13 | 117 | 85 | 70 | 107 |
| Working capital days | -10 | 30 | 6 | 22 | 16 | 39 | 164 |
Studio LSD peers and competitors
Listed SME companies in the same industryBy sales, Studio LSD is number 6 of the 19 listed SME companies in entertainment.
Each company's latest full year and its latest close; companies the exchange puts in the same industry, whose businesses can differ a good deal. A list, not a comparison of their shares.
| Company | Market cap ₹ cr | P/E | Sales ₹ cr | Profit ₹ cr | Op. margin | Debt/equity |
|---|---|---|---|---|---|---|
| Phantom Digital Effects | 157 | 7.8 | 102 | 20.2 | 36.7% | 0.25 |
| Maxposure | 77 | 8.1 | 88 | 9.5 | 14.7% | 0.13 |
| Studio LSD | 45 | - | 72.1 | -1 | -3.5% | 0.00 |
| Baweja Studios | 48 | 7.9 | 68.9 | 6.1 | 16.8% | 0.35 |
| Digikore Studios | 49 | 3.9 | 66 | 12.6 | 33.1% | 1.16 |
| Gretex Industries | 350 | 250.8 | 55.7 | 1.4 | 1.7% | 0.01 |
| B.A.G. Convergence | 220 | 20.4 | 43.2 | 10.8 | 42.3% | 0.00 |
| Radiowalla Network | 19 | 140.8 | 20.4 | 0.1 | 3.1% | 0.03 |
| Picturepost Studios | 9 | 10.3 | 20.3 | 0.8 | 25.8% | 0.08 |
| Identical Brains Studios | 24 | 15.2 | 19.1 | 1.6 | 18.3% | 0.00 |
| Inspire Films | 18 | 47.6 | 10.2 | 0.4 | 12.8% | 0.60 |
| Median of the 10 others | 49 | 12.8 | 49.5 | 3.8 | 17.6% | 0.11 |
Studio LSD shareholding pattern
Promoters, FIIs, DIIs, HNIs and small holdersThe promoters own more than half the company. Big foreign and Indian funds own very little. The number of shareholders is about the same.
Studio LSD shareholding pattern
Per cent of shares, from the patterns filed with the exchange. Tap + to see everyone holding 1% or more in that group. HNIs and small holders show only where the pattern was filed in full.
| Aug 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 | |
|---|---|---|---|---|---|
| Promoters | 73.50% | 73.50% | 73.50% | 73.50% | 73.50% |
| Indian institutions (DIIs) | 0.25% | - | - | - | - |
| HNIs (over ₹2 lakh each) | - | 0.22% | 0.72% | 2.12% | 2.32% |
| Small holders (up to ₹2 lakh) | 23.80% | 23.78% | 23.33% | 22.01% | 21.86% |
| Companies and others | - | 2.50% | 2.45% | 2.37% | 2.32% |
| Number of shareholders | 2,618 | 2,779 | 2,641 | 2,475 | 2,406 |
The named holders are at 30 June 2026, beside 31 March 2026, each under the group the pattern files them in.
Studio LSD study: the business from its own documents
Read from 1 of the company's own documentsStudio LSD so far
From the company's own record
- 25 Aug 2025Listed on NSE Emerge at ₹54
- 30 June 2026Promoters at 73.50%
- 25 Aug 2025Highest close since listing, ₹36.51
Studio LSD key facts from the filings
Each figure with the document it comes from
- FY25 revenue
- ₹104.5 cr
- Up about 2% from ₹102.5 cr; profit after tax rose to ₹11.8 cr.Annual report FY25, p.22
- EBITDA margin
- 14.85%
- Operating margin in FY25, a little above 14.46% the year before.Annual report FY25, p.43
- Broadcasting partners
- 8
- Channels the company works with, after about 1,500 hours of content in eight years.Annual report FY25, p.6
- Cost of services
- ₹73.5 cr
- Paid to artists (₹21.4 cr), supporting crew (₹26.1 cr) and for support costs (₹26.0 cr) in FY25, about 70% of revenue.Annual report FY25, p.77
- Studio rent
- ₹9.8 cr
- FY25 rent, up from ₹6.8 cr, for production space leased from third parties.Annual report FY25, p.41 and p.77
Show 5 more facts
- Permanent staff
- 14
- Employees on the rolls at March 2025, not counting executive directors; crews are paid as professionals per show.Annual report FY25, p.35 and p.77
- Content inventory
- ₹9.5 cr
- Shows in progress and not yet telecast at March 2025, up from ₹0.5 cr; charged to costs only when the content earns.Annual report FY25, p.68, p.69 and p.74
- Money owed by channels
- ₹20.1 cr
- Trade receivables at March 2025, down from ₹24.0 cr, all due for less than six months.Annual report FY25, p.74
- Treasury holdings
- ₹11.0 cr
- ₹8.0 cr in mutual funds and ₹3.0 cr in debentures of finance companies at March 2025.Annual report FY25, p.73 and p.75
- Borrowings
- Nil
- Debt free at March 2025; the Cosmos Bank overdraft was closed in December 2024.Annual report FY25, p.26 and p.43
Is it a good business? Six questions
Each answer is about that one question, read from the documents; tap one for the evidence. Not a view on the shares.
Studio LSD earns a fee for each episode of the shows channels order from it, and keeps what is left after paying artists, crew and studio rent.
Its weak spots are a small group of channel customers, shows that end and must be replaced, and a new push into owned content that ties up cash before it earns.
AverageCan it set its own prices?The fee per episode is negotiated with each channel before a show starts, so the company has a say, but the channel is the larger party.
AverageHow strong is it against rivals?A record of long-running shows and awards on the big Hindi channels helps it win new commissions, but the channels own the shows.
WatchWho are its customers?A handful of television channels pay for almost all the work, so losing one show or one channel matters.
AverageDoes it need a lot of money?It needs very little equipment, but money owed by channels and content made ahead of time take up cash.
AverageCan it keep finding new work?It has landed shows on several channels every year since it began, but no order book or list of upcoming shows is given.
WatchDo good and bad years swing a lot?Income depends on how many shows are on air at once, so a gap between shows can cut sales sharply.
Who runs Studio LSD?
Promoters, directors and officers; tap a name for the background
PSPrateek SharmaPromoter and Managing Director · holds 52.70%
Named in the annual report, with Parth Shah, as the promoter who creates the company's original show concepts. Also engaged as Show Producer and Runner from 16 October 2024, as approved by shareholders; paid ₹0.74 cr in FY25. The annual report states that Suman Sharma is the mother of Prateek Sharma.
Annual report FY25, p.21, p.35, p.38 and p.41PSParth ShahPromoter and Whole-Time Director · holds 14.72%
Named as a promoter who creates the company's original show concepts; appointed Whole-Time Director for five years from 4 October 2024 and sits on the audit committee. Paid ₹0.36 cr in FY25.
Annual report FY25, p.24, p.28, p.38 and p.41SSSuman SharmaPromoter, Chairperson and Non-Executive Director · holds 5.05%
A founder promoter and director since February 2017, with a BA and MA in Economics from Vikram University, Ujjain. Worked in the company as viewer feedback specialist for more than eight years, gathering and analysing audience preferences; became non-executive Chairperson from 1 July 2024.
Annual report FY25, p.21 and p.24BJBajrang Jagdish PrajapatIndependent Director
Appointed in October 2024 for five years; chairs the audit, nomination and remuneration, and stakeholders' relationship committees.
Annual report FY25, p.7, p.24, p.28 and p.29SDSwati DhootIndependent Director
Appointed in October 2024 for five years; a member of the audit, nomination and remuneration, and CSR committees.
Annual report FY25, p.7, p.24 and p.28RMRuchika MishraChief Financial Officer
Appointed Chief Financial Officer on 6 September 2024.
Annual report FY25, p.8 and p.24Studio LSD latest news and announcements
Announcements · Documents · Corporate actionsWhat changed recently
Each half-year is set against the same half a year earlier
- H2 FY26: sales ₹32.8 cr (-22%), net profit ₹2.5 cr (-47%) on H2 FY25.
- Shareholding, 30 June 2026: promoters unchanged at 73.50%.
Studio LSD announcements
34 on record, latest first; each opens the filing on the exchange
- Certificate under SEBI (Depositories and Participants) Regulations, 2018Certificate pursuant to Regulation 76 of the Securities and Exchange Board of India (Depositories and Participants) Regulations, 2018PDF ↗
- Quarterly Compliance Report on Corporate governance - within 21 days from the enStudio LSD Limited has informed regarding Submission of the Certificate under Regulation 13(3) of the SEBI (Listing Obligation and DisclosureRequirements) RegulPDF ↗
- Certificate under SEBI (Depositories and Participants) Regulations, 2018Certificate under Regulation 74(5) of the Securities Exchange Board of India (Depositories and Participants) Regulations, 2018 for the quarter/half year ended oPDF ↗
- AgreementsAppointment of Additional Market MakerPDF ↗
- Outcome of Board MeetingHeld on October 12, 2026PDF ↗
- AgreementsAgreementsPDF ↗
- Trading WindowClosure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015PDF ↗
- Shareholders meetingSrutinizers report of Annual General Meeting held on September 21, 2026. Further, the company has informed the Exchange regarding voting resultsPDF ↗
- General UpdatesStudio LSD Limited has informed the Details pursuant to Regulation 30 read with Para A of Part A of Schedule III of the SEBI (Listing Obligations and DisclosurePDF ↗
- Shareholders meetingProceedings of Annual General Meeting held on September 21, 2026PDF ↗
- Outcome of Board Meeting, the financial results for the period ended September 30, 2025PDF ↗
- Copy of Newspaper PublicationCopy of Newspaper PublicationPDF ↗
Studio LSD annual reports, earnings calls and documents
Every document links to its source; “read” marks those this page is built from
- FY25 ↗read
Studio LSD share split, bonus and dividends
From the corporate actions the company announces on the exchange
No share split, bonus issue or dividend is on record since listing.
Checks we ran on Studio LSD's data · 9
Before any number shows, it goes through the same checks. A figure that fails is held back, never shown as if it were right.
- ✓Balance sheet totals add up for FY25 and FY26.
- ✓Market cap uses the share count in the latest shareholding pattern (5,18,91,755 shares).
- ✓The share capital in the FY26 results matches the share count in the shareholding pattern.
- ✓Promoter pledge figures are within possible limits in every shareholding pattern shown.
- ✓Promoter and public holdings add up to 100% in every shareholding pattern shown.
- ✓The two half-years of FY26 add up to the full-year sales.
- !Earnings per share changes basis between FY24 (₹10,900.00) and FY25 (₹2.88) because the share count behind it changes; EPS is shown as reported, and growth is worked out on profit.
- ✓Revenue and profit are reported for every year shown, FY20 to FY26.
- iPrices run to the close on 14 Oct 2026, from the exchange's daily figures.
Questions people ask about Studio LSD
What does Studio LSD do?
Studio LSD makes television serials that channels such as Sony, Zee TV and Colors TV order and air, and it has started making its own songs and shows for online platforms. Its shares trade on NSE Emerge.
What is the share price of Studio LSD?
₹8.7 at the close on 6 Nov 2026, from the exchange's daily figures.
What is the market cap of Studio LSD?
₹45 cr at the close on 6 Nov 2026, on 5,18,91,755 shares.
What are Studio LSD's revenue and profit?
Revenue ₹72 cr and profit after tax -₹1 cr in FY26.
Who are the promoters of Studio LSD?
Prateek Sharma, Parth Shah, Suman Sharma; promoters held 73.50% at 30 June 2026.
What was the IPO price of Studio LSD?
₹54 a share; it listed on 25 Aug 2025.
What is Studio LSD's website?
www.studiolsd.in
More SME companies like Studio LSD
Other listed SME companies in entertainment, the closest in size first, each read from its own documents.
- Digikore StudiosDIGIKORE · NSE Emerge · Entertainment · listed 2023Market cap ₹45 cr
- Baweja StudiosBAWEJA · NSE Emerge · Entertainment · listed 2024Market cap ₹48 cr
- MaxposureMAXPOSURE · NSE Emerge · Entertainment · listed 2024Market cap ₹72 cr
- Identical Brains StudiosIDENTICAL · NSE Emerge · Entertainment · listed 2024Market cap ₹22 cr
- Vels Film InternationalVELS · NSE Emerge · Entertainment · listed 2023Market cap ₹94 cr
- Inspire FilmsINSPIRE · NSE Emerge · Entertainment · listed 2023Market cap ₹19 cr
Every listed SME company in Entertainment → · SME companies listed in 2025 →
Built from 1 annual report, 34 exchange announcements, 5 shareholding patterns and 7 years of reported results. Every figure carries its source; where the documents are silent, the page says so.