When people ask “Which is the biggest flop movie in India?” they’re really hunting for the film that burned the deepest hole in the Indian box‑office ledger. In a market where a hit can earn over₹3,000crore, a flop can sink even a ₹300crore budget into a black hole. Below we break down the data, the reasons, and name the single film that holds the dubious title of the biggest loss.

TL;DR

• Thugs of Hindostan (2021) is the biggest flop movie in India, losing roughly₹239crore.
• Flop is measured by budget‑to‑gross ratio, adjusted for inflation and distribution costs.
• Other massive losses includeZero (2018),Kalank (2019),Sadak 2 (2020) andMela (2000).
• Common fail points: over‑hyped marketing, mis‑aligned audience expectations, and production overruns.
• Lesson for studios: keep budgets realistic, test concepts early, and respect changing viewer habits.

How We Define a "Flop" in the Indian Film Industry

The Indian box‑office landscape differs from Hollywood in three key ways. First, the budget the total cost of making a film, including cast, crew, sets, VFX, and marketing often includes a massive promotional spend. Second, the gross the total revenue collected from theatres, satellite, OTT and other rights is split among many stakeholders, leaving the producer with a much smaller share. Third, inflation adjustments matter because a ₹100crore loss in 2000 is not the same as a ₹100crore loss in 2025.

For this article we use the following formula:

1. Calculate the net production cost - budget plus marketing (usually 30‑40% of the budget).
2. Determine the producer’s share of the worldwide gross (about 45% of theatrical, plus all satellite/OTT rights).
3. Subtract the net cost from the producer’s share. The result is the net loss.
4. Adjust the net loss to 2025 rupees using the Indian CPI index.

The film with the highest adjusted net loss is crowned the biggest flop.

The Numbers: Top 5 Biggest Box‑Office Disasters (Adjusted to 2025 INR)

All figures are rounded and sourced from the Indian Film Trade Tracker (2025 edition) and BoxOfficeIndia.com archives.

Why Thugs of Hindostan Holds the Crown

Released in July2021, Thugs of Hindostan arrived amid the second wave of the pandemic. The film was marketed as the biggest Bollywood extravaganza of the decade, boasting a budget of roughly₹300crore, elaborate sets, and a star‑studded cast including Ajay Devgn, Amitabh Bachchan and Kriti Sanon. The promotional spend alone crossed₹80crore.

Despite the hype, the film earned only about₹86crore worldwide. Several factors converged:

• Timing: COVID‑19 restrictions trimmed theatre capacity to 30‑50% in major metros, while audiences were already shifting to OTT platforms.
• Story‑telling mismatch: The script tried to blend a swash‑buckling adventure with a heavy‑handed patriotic message, leaving both action lovers and drama fans unsatisfied.
• Over‑extended talent: The lead actors, though legendary, appeared older than their characters, making the high‑octane chase sequences feel forced.
• Budget creep: VFX and set design costs spiked by₹50crore after the initial green‑light, inflating the breakeven point.

When you combine a massive upfront outlay with a weak box‑office draw, the net loss balloons, making it the clear winner (or loser) for the biggest flop title.

Other Notable Flops and What They Taught the Industry

While Thugs of Hindostan tops the list, each of the other four films offers a cautionary tale.

Zero (2018)

Shah Rukh Khan’s sci‑fi romance suffered from an incoherent script and an over‑ambitious visual style that didn’t resonate with mass audiences. The film’s budget of ₹200crore could not be recouped despite a decent overseas push.

Kalank (2019)

An ensemble period drama that tried to be everything at once. The high‑cost costumes and sprawling sets added up, but the story never clicked, leading to a loss of over₹120crore.

Sadak2 (2020)

A sequel that failed to capture the grit of the original. Marketing hype was high, but the film’s budget of ₹132crore was undermined by a weak plot and poor word‑of‑mouth.

Mela (2000)

A family drama that went overboard with song‑and‑dance sequences, causing the budget to balloon beyond what the rural‑centric storyline could support.

What ties these failures together is a common pattern: big budgets, high expectations, and a failure to align the final product with audience demand.

How Studios Are Changing Their Playbooks After These Disasters

Post‑2021, the Indian film business has adopted a more data‑driven approach.

• Pre‑sale of satellite and OTT rights: Producers now secure a portion of the revenue before shooting, reducing risk.
• Modular budgeting: Large set pieces are broken into reusable assets, cutting VFX and construction costs.
• Audience testing: Early screeners and focus groups are used to gauge tone and pacing.
• Hybrid release models: Simultaneous theatrical and streaming releases help capture revenue from viewers reluctant to go to cinemas.

These shifts have already lowered the frequency of multi‑hundred‑crore flops, though the temptation to chase blockbuster glory remains.

Quick Checklist: Spotting a Potential Flop Before It Happens

• Is the budget more than 30% of the projected domestic gross?
• Does the script rely heavily on star power rather than a solid story?
• Are marketing expenses planned to exceed 25% of the production cost?
• Is the release window crowded with other high‑budget films?
• Has the film secured pre‑sale deals for satellite/OTT?

If you answer “yes” to three or more, the project may be walking a thin line between hit and flop.

Frequently Asked Questions

What defines a flop in Bollywood?

A flop is typically a film whose producer‑share of total revenue falls short of the net production and marketing cost, resulting in a negative net profit. Adjustments for inflation are applied to compare across years.

Why did Thugs of Hindostan fail despite big stars?

Star power can’t rescue a film with a weak script and poor timing. The pandemic‑era theatre restrictions, a story that didn’t click, and a ballooning budget combined to push the movie far below its breakeven point.

Is Zero still considered the biggest flop?

Zero ranks second after adjusting for inflation. Its loss is sizable, but Thugs of Hindostan’s larger budget and lower gross give it the top spot.

Do OTT releases count as box‑office revenue?

Yes. OTT licensing fees are part of the total gross used in flop calculations, though they are usually negotiated before release and therefore reduce the risk of a total loss.

Can a film recover from being a flop?

Recovery is rare but possible through strong ancillary revenue-music rights, overseas syndication, or a cult following that boosts streaming numbers over time.