# Ramayana’s strong box office start contrasts with Prime Focus share slide ahead of Q2 results — retained record

> Retained news record from news:india-cnbc-tv18.

Canonical: https://highsignal.app/data/records/1b470c5daafc8a5d

[← sources](https://highsignal.app/data)


source: [news](https://highsignal.app/data/news) (news:india-cnbc-tv18)  published 2026-11-13 07:11 ingested 2026-11-14 03:04

[original source ↗](https://www.cnbctv18.com/market/ramayanas-strong-box-office-start-contrasts-with-prime-focus-share-slide-ahead-of-q2-results-20033299.htm)

## retained text



```
Ramayana’s strong box office start contrasts with Prime Focus share slide ahead of Q2 results
- Published OnNov 13, 2026 | 12:41 IST
- Last Updated OnNov 13, 2026 | 12:41 IST
Prime Focus shares have tumbled despite a record-breaking global box office opening for Ramayana, as investors lock in profits following a sharp pre-release rally. Mounting production costs, historical quarterly losses, and heavy debt continue to weigh on the studio. Discover how upcoming earnings and tax scrutiny will shape its market outlook.
Even as Ramayana—produced by Namit Malhotra’s listed company Prime Focus—has had a strong start at the box office, shares of the firm have declined since the film’s November 5 release, with part of the fall attributed to profit booking following a pre-release rally.
The film emerged as Ranbir Kapoor’s biggest opening ever, grossing over ₹1000 crore worldwide so far as per Sacnilk. In India, Ramayana opened at ₹64.85 crore net, marking a record for Kapoor, though lower than the ₹86.75 crore opening recorded by Prabhas-starrer Adipurush.
On the stock exchange, however, Prime Focus shares have declined about 11% since the film’s release and trade roughly 26% below their 52-week high. The stock was trading at ₹273.55, down 0.49% on the day, following declines of 3.25% over the past five days and 1.95% over the past month. It is down 0.31% over the past six months, while remaining up 19.29% year-to-date.
Part of the post-release decline has been attributed to profit booking, as the stock had more than doubled over the past year on Ramayana-related buzz and gained another 13% in the two weeks leading up to the release. On the day of the release, both Prime Focus shares and the wider entertainment sector declined.
The film's production budget is also a key factor. The two parts of Ramayana reportedly cost over ₹4,000 crore, making it the most expensive Indian film ever. Digital and satellite rights have reportedly been sold for over ₹450 crore, covering about 11% of the budget. Producers retain only a share of box office collections, and the second part of the film is yet to be released.
Prime Focus’s financial numbers have added to the caution. The company reported a ₹46 crore loss in the June quarter and has posted losses in seven of the last 10 years. Borrowings stand at around ₹5,717 crore, and the stock trades at 119 times trailing earnings.
The company’s shareholder base has also changed over the past year. Foreign investors have reduced their stake from 11% to under 3%, while retail shareholders have more than doubled. Investors Ramesh Damani and Madhusudan Kela bought into the company last year, and Ranbir Kapoor was also allotted shares, according to reports.
Most of Prime Focus’s revenue comes from DNEG, its global VFX business, making Ramayana a major bet for the company rather than its entire business. However, overhangs remain after the Income Tax Department searched the company’s offices in October this year in connection with alleged foreign remittances, though no findings have been made public so far.
Prime Focus is scheduled to report its September quarter results today, November 13.
Also Read: 'Broken and shattered': Jensen Huang’s last hours as Nvidia CEO
```



document fetched 2026-11-14 03:04 · canonical https://cnbctv18.com/market/ramayanas-strong-box-office-start-contrasts-with-prime-focus-share-slide-ahead-of-q2-results-20033299.htm