Thinking Hats Entertainment Solutions Ltd.

•
₹ 19.60%

2026-08-21

thes.inBSE: -NSE: THESL
Market Cap₹ 23 Cr.
Current Price₹ 13
High / Low₹ 44 / 11
Stock P/E0.0
Book Value₹ 22
Price to Book1.29
Dividend Yield0.00 %
ROCE20.6 %
ROE18.8 %
Face Value₹ 10

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ABOUT

KEY POINTS

Revenue Breakup Mar 2025 • Event Management: 70.8% • Retail Visual Merchandising: 28.7% • Film, Music and Content Development, Production & Distribution: 0.5%

PROS

  • Company has a healthy return on capital (ROCE) of 33.5%
  • Company has a good return on equity (ROE) track record: 3 Years ROE 32.7%
  • Operating margins have improved to 11.2% from 4.7%
  • Company comfortably covers its interest (9.4x coverage)
  • Company maintains a comfortable, low leverage position

CONS

  • Operating cash flow has been negative in recent years
  • Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT 0.26x)
  • Total debt has risen sharply - up 132.4% year on year
  • Free cash flow has been persistently negative

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

EDIT COLUMNS
Media Entertainment & PublicationMedia & EntertainmentFilm Production, Distribution & Entertainment
Part ofNIFTY 50NIFTY 500NIFTY LARGEMIDCAP 250NIFTY 100NIFTY 200
S.No.NameCMP Rs.P/EMar Cap Rs.Cr.Div Yld %NP Qtr Rs.Cr.Qtr Profit Var %Sales Qtr Rs.Cr.Qtr Sales Var %ROCE %OPM %
1.PVRINOX1201.2026.5311795.780.0056.50203.671622.2010.4211.5132.59
2.SAREGAMA508.3544.269801.470.89518.801320.982636.001174.8519.9035.40
3.TIPSMUSIC652.300.008338.451.9943.70-4.67106.5120.94124.4250.27
4.PANORAMA45.9549.581197.160.00127.153529.751830.701242.6528.1710.94
5.BALAJITELE91.610.001116.750.0022.39476.59240.29229.94-1.1610.71
6.AQYLON23.910.00606.670.00-1.85-3535.190.04-96.33-45.28-1750.00
7.CINELINE85.720.00326.701.46-12.47-91.9555.0148.56-3.12-78.71
8.UFO64.8510.48251.780.005.64-13.50110.693.8112.7716.36
9.TIPSFILMS352.850.00152.530.00-29.41-720.4947.96-49.71-26.64-61.48
10.BAGFILMS4.4120.4796.100.003.5758.9038.5922.627.6818.58
11.CINEVISTA14.5313.6783.460.001.000.707.4961.7714.4531.09
12.THESL18.750.0023.410.00————20.57—
Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

No quarterly results found

We don't have this information yet. Please check back later.

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2022
12
12
Operating Profit
1
OPM %
5
Other Income
1
Interest
0
Depreciation
0
0
Tax %
22
Net Profit
0
EPS
5
Dividend Payout %
0
Minority Interest
0
Share of Associates
0
Adjusted EPS
0
Minority Interest
0
Share of Associates
0
Adjusted EPS
0
Mar 2023
22
19
Operating Profit
3
OPM %
14
Other Income
0
Interest
0
Depreciation
0
3
Tax %
27
Net Profit
2
EPS
26
Dividend Payout %
0
Minority Interest
0
Share of Associates
0
Adjusted EPS
3
Minority Interest
0
Share of Associates
0
Adjusted EPS
3
Mar 2024
27
22
Operating Profit
5
OPM %
19
Other Income
0
Interest
1
Depreciation
0
4
Tax %
28
Net Profit
3
EPS
35
Dividend Payout %
0
Minority Interest
0
Share of Associates
0
Adjusted EPS
4
Minority Interest
0
Share of Associates
0
Adjusted EPS
4
Mar 2025
48
42
Operating Profit
6
OPM %
13
Other Income
1
Interest
1
Depreciation
0
5
Tax %
30
Net Profit
4
EPS
3
Dividend Payout %
0
Minority Interest
0
Share of Associates
0
Adjusted EPS
3
Minority Interest
0
Share of Associates
0
Adjusted EPS
3

COMPOUNDED SALES GROWTH

10 Years:
—
5 Years:
—
3 Years:
60%

COMPOUNDED PROFIT GROWTH

10 Years:
—
5 Years:
—
3 Years:
114%

STOCK PRICE CAGR

10 Years:
—
5 Years:
—
3 Years:
—
1 Year:
-57%

RETURN ON EQUITY

10 Years:
—
5 Years:
—
3 Years:
33%
Last Year:
19%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Corporate actions

No bonus data found

Mar 2022
Equity Capital
1
3
0
Trade Payables
2
1
Total Liabilities
6
1
Capital Work in Progress
0
2
0
Cash & Bank
0
4
Total Assets
6
Total Debt
0
Net Working Capital
3
Contingent Liabilities
0
Book Value per Share
48.85
Face Value
10.00
Total Debt
0
Net Working Capital
3
Contingent Liabilities
0
Book Value per Share
48.85
Face Value
10.00
Mar 2023
Equity Capital
1
5
3
Trade Payables
4
2
Total Liabilities
15
2
Capital Work in Progress
0
6
0
Cash & Bank
0
7
Total Assets
15
Total Debt
4
Net Working Capital
5
Contingent Liabilities
0
Book Value per Share
75.18
Face Value
10.00
Total Debt
4
Net Working Capital
5
Contingent Liabilities
0
Book Value per Share
75.18
Face Value
10.00
Mar 2024
Equity Capital
1
10
4
Trade Payables
4
6
Total Liabilities
25
2
Capital Work in Progress
0
8
10
Cash & Bank
1
5
Total Assets
25
Total Debt
5
Net Working Capital
8
Contingent Liabilities
0
Book Value per Share
125.58
Face Value
10.00
Total Debt
5
Net Working Capital
8
Contingent Liabilities
0
Book Value per Share
125.58
Face Value
10.00
Mar 2025
Equity Capital
12
15
8
Trade Payables
4
10
Total Liabilities
50
2
Capital Work in Progress
1
9
12
Cash & Bank
4
22
Total Assets
50
Total Debt
13
Net Working Capital
13
Contingent Liabilities
0
Book Value per Share
22.40
Face Value
10.00
Total Debt
13
Net Working Capital
13
Contingent Liabilities
0
Book Value per Share
22.40
Face Value
10.00

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2022
1
Cash from Investing
-2
Cash from Financing
0
-0
Free Cash Flow
1
OCF / Net Profit
2.63
Cumulative 5-Year FCF
0
OCF / Net Profit
2.63
Cumulative 5-Year FCF
0
Mar 2023
2
Cash from Investing
-6
Cash from Financing
3
-0
Free Cash Flow
1
OCF / Net Profit
1.16
Cumulative 5-Year FCF
0
OCF / Net Profit
1.16
Cumulative 5-Year FCF
0
Mar 2024
2
Cash from Investing
-4
Cash from Financing
3
0
Free Cash Flow
1
OCF / Net Profit
0.49
Cumulative 5-Year FCF
0
OCF / Net Profit
0.49
Cumulative 5-Year FCF
0
Mar 2025
-2
Cash from Investing
-19
Cash from Financing
20
-0
Free Cash Flow
-2
OCF / Net Profit
-0.42
Cumulative 5-Year FCF
0
OCF / Net Profit
-0.42
Cumulative 5-Year FCF
0

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2022
EPS (₹)
4.88
Book Value (₹)
48.85
Dividend per Share (₹)
0.00
Cash EPS (₹)
0.57
Operating Margin %
4.68%
Net Margin %
3.21%
ROE %
9.99%
ROCE %
12.04%
5.80%
Debtor Days
98
Inventory Days
0
Payable Days
223
-125
Debt to Equity (x)
0.08x
Interest Coverage (x)
109.89x
2.10x
Revenue Growth %
0.00%
Operating Profit Growth %
0.00%
Net Profit Growth %
0.00%
0.00%
P/E (x)
0.00x
P/B (x)
0.00x
Dividend Yield %
0.00%
0.00x
Mar 2023
EPS (₹)
26.33
Book Value (₹)
75.18
Dividend per Share (₹)
0.00
Cash EPS (₹)
2.77
Operating Margin %
13.79%
Net Margin %
9.07%
ROE %
42.46%
ROCE %
42.51%
19.14%
Debtor Days
76
Inventory Days
0
Payable Days
0
76
Debt to Equity (x)
0.72x
Interest Coverage (x)
14.35x
1.61x
Revenue Growth %
90.90%
Operating Profit Growth %
462.18%
Net Profit Growth %
439.61%
0.00%
P/E (x)
0.00x
P/B (x)
0.00x
Dividend Yield %
0.00%
0.00x
Mar 2024
EPS (₹)
35.30
Book Value (₹)
125.58
Dividend per Share (₹)
0.00
Cash EPS (₹)
3.72
Operating Margin %
18.78%
Net Margin %
11.61%
ROE %
36.96%
ROCE %
37.36%
15.72%
Debtor Days
109
Inventory Days
0
Payable Days
0
109
Debt to Equity (x)
0.49x
Interest Coverage (x)
8.16x
1.61x
Revenue Growth %
20.25%
Operating Profit Growth %
66.02%
Net Profit Growth %
53.97%
34.05%
P/E (x)
0.00x
P/B (x)
0.00x
Dividend Yield %
0.00%
1.12x
Mar 2025
EPS (₹)
2.94
Book Value (₹)
22.40
Dividend per Share (₹)
0.00
Cash EPS (₹)
3.11
Operating Margin %
11.19%
Net Margin %
7.69%
ROE %
18.81%
ROCE %
20.57%
9.77%
Debtor Days
85
Inventory Days
0
Payable Days
0
85
Debt to Equity (x)
0.45x
Interest Coverage (x)
9.43x
1.68x
Revenue Growth %
78.99%
Operating Profit Growth %
19.62%
Net Profit Growth %
18.55%
-91.69%
P/E (x)
9.81x
P/B (x)
1.29x
Dividend Yield %
0.00%
7.34x

Shareholding Pattern

Numbers in percentages

TRADES
Sep 2024
56.79
0.89
0.10
Government
0.00
42.23
Mar 2025
56.79
0.00
0.00
Government
0.00
43.21
Sep 2025
56.79
0.00
0.00
Government
0.00
43.21
Mar 2026
56.79
0.00
0.00
Government
0.00
43.21

Documents

Announcements

Nothing filed yet.

Annual Reports

Credit Ratings

Nothing filed yet.

Concalls

Nothing filed yet.