Mr. Balakrishnan, aged 37 years, is the Promoter and Managing Director of the Company. He holds Master’s degree in Electronic Media from Anna University. He was originally appointed on the Board on January 28, 2016 as the Managing Director of the Company. He has an experience of more than 13 years in this Industry. He has worked directly with academy award winning supervisors and Oscar nominated directors on various projects. He is the key driver of the growth of the Company at present level. His abilities have been instrumental in leading the business of the Company. Ms. Yogalakshmi S, aged 33 years, is the Promoter and Whole Time Director of the Company. She holds a degree of Bachelor of Engineering in Electronics and Communication Engineering from Anna University. She worked for a US based IT company before she became part of Basilic Fly Studio. She later on joined us in the partnership firm incorporated in the year 2013 which was subsequently dissolved in 2019. She has vast knowledge and experience of more than 11 years in VFX Industry. She is responsible for the managing and supervising operations. She has played a key role in growth and development of the Company. Mr. Prabhakar D, aged 35 years, is the Whole Time Director of the Company. He has completed Diploma in Multimedia from Hindustan Institute of Technical Training, Chennai. He has an experience of over 14 years in VFX Industry and has worked for several renowned films.

Name of the Company	Revenue (In Crore)	PAT (In Crore)	EPS ( in Rs)	P/E	CMP	Mcap (In Crore)
Basilic Fly Studio Limited	70	26	11.37	8.52	97	255
Prime Focus Limited	4,644	194	4.92	21.9	91	2,729
Phantom Digital Effects Limited	58	16	13.92	40.3	561	653

* All the data is as per FY23.

Review and Recommendation of Basilic Fly Studios SME IPO by IZ team is 6/10 1. Basilic Fly Studio is a visual effects (VFX) studio that provides high-quality and cost-effective VFX solutions for various projects, including movies, TV & net series, and commercials. Currently, 100% revenue is coming from Hollywood movies. 2. Company is planning for Rapid scaling of employees from 450 presently to an expected 1200 employees by Fy25 signifies strong growth and increased operational capabilities. The geographical diversification among Chennai, Pune, and future locations like Hyderabad and Salem could offer a strategic advantage. 3. They have around 7% attrition rate relative low to the industry average suggests a stable, satisfied workforce, which is a positive indicator of company culture and operational continuity. 4. They are planning to shift revenue mix from a 90:10 to a 70:30 subcontracting-to-direct project indicates a deliberate move towards higher-margin projects. This could enhance profitability in the long term. Currently, they get 90% VFS project via subcontracting wherein margin is less. 5. They want to become a preferred vendor for most Hollywood studios which will have competitive advantage that can lend credibility and attract further partnerships. 6. They have 45-60 days billing cycle, combined with 30-45 days of working capital, provides a reasonable cushion for the firm, but this is an area where improvements could add value. 7. As per management, The AI initiatives, aimed at efficiency rather than the replacement of existing work, could serve as a unique selling point during the Pre-IPO phase, showing the company's commitment to innovation. 8. The company’s aggressive expansion plans into different geographies and sectors make it a potentially high-growth investment. 9. The company has shown excellent growth from Fy21 to FY23 wherein the revenue has increased from INR 17 Cr to INR 70 Cr. And, company is aspecting 50% growth in next 2-3 years. They have around 35% NPM in FY23 and management is confident of achieving this margin. Based on the newly provided assumptions of a 30% Net Profit Margin (NPM) and a 30% conservative revenue growth ( though management has said 50-80%) , the financial outlook for FY24 appears promising for Basilic. Under these conditions, the company is projected to achieve a revenue of approximately INR 100 Crore and a Profit After Tax (PAT) of INR 35 Crore. Given a Price-to-Earnings (P/E) multiple of 25, the market capitalization (Mcap) for Basilic would stand at around INR 875 Crore. With 2.32 Crore outstanding shares, this would translate to a per-share price of approximately INR 377. Comparing this projected per-share price with the initial public offering (IPO) price of INR 97 per share, it is evident that there is significant upside potential for investors. This makes Basilic an attractive investment opportunity, provided the company is able to meet its growth and profitability targets. Conclusion Basilic seems poised for aggressive growth, with plans for geographical expansion and a focus on more lucrative direct contracts. The company's strong fundamentals, such as a low attrition rate and promising financial guidance, make it an attractive option for Pre-IPO investors. However, the high growth targets and the evolving nature of the revenue streams mean that prospective investors should carry out a comprehensive due diligence process

Basilic Fly Studio Limited Tower A, KRC Commerzone, Mount Poonamallee Road Porur, Chennai - 600116 Phone: + 91 94164 22201 Email: cs@basilicfly.com Website: http://www.basilicflystudio.com/