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PVR Inox
SectorMedia Entertainment & Publication
PVR INOX Limited is India's largest multiplex operator with 1753 screens across 358 properties in 112 cities in India and Sri Lanka. The company offers diverse cinema formats including Director's Cut, IMAX, 4DX, and others. It generates revenue from box office sales, food and beverages, advertising, and convenience fees. PVR INOX also operates a film distribution and production business through its subsidiary, PVR Pictures. The company was formed through the merger of PVR Limited and INOX Leisure Limited, which became effective in February 2023. PVR INOX provides various premium cinema experiences and offers a range of food and beverage options in its theaters.
In the news
PVR Inox's Q2FY27 Recovery: Content, Margins & Capital-Light Strategy
PVR INOX faces legal challenge over cashless-only policy
PVR Inox hits 52-week high, up 12% post buyback closure
PVR, Multiplex Association challenge Karnataka's 2% cinema cess
PVR INOX: Buyback Volatility, Smart Cinemas, and Operational Turnaround
PVR INOX Governance Crisis: Expansion Strategy Under Cloud After ₹200 Crore Kickback Probe
PVR Inox's ₹300 Crore Buyback: Strategic Capital Allocation Shift
PVR INOX buyback: Last day to buy Sept 3, ₹300 cr at ₹1,450/share
PVR INOX Hits 52-Week High at ₹1,283 on First-Ever Buyback Plan
Capital Moves: QIPs, Acquisitions, and Policy Shifts Reshape Corporate India
PVR INOX's Smart Cinema: The Rs 1.9 Crore Screen Revolution
PVR INOX launches SMART Cinemas in Tier III cities with $1.90 tickets
ZEEL's ₹3,143 cr fundraise may hinge on SAT relief after SEBI order
PVR INOX maintains Buy rating with ₹1500 target amid strong Q1 performance
PVR INOX returns to profitability with ₹565 crore net profit
Hollywood Films Drive Premium Screen Business in India
PVR Inox rises 0.38% for fifth straight session
Horror Films Drive Indian Box Office Without Stars or Budgets
Doraemon Movie Debuts in India Oct 2 After 20 Years on TV
5 Stocks Dominate India's Top Smallcap Funds with ₹8,000 Cr Holdings
The Quarter story
The two most recent quarterly results, compared side-by-side.
PVR Inox turns net cash positive with strong margin recovery and stable footfall, though ad demand and Hollywood collections remain soft.
Net debt dropped from ₹8,915 Cr in Q1 FY26 to -₹807 Cr in Q1 FY27 — balance sheet is now net cash positive
Advertisement income fell from ₹1,256 Cr in Q2 FY26 to ₹1,073 Cr in Q1 FY27 — brand ad demand remains soft
EBITDA margin rebounded from 18.0% in Q3 FY26 to 33.6% in Q1 FY27 — operating efficiency has stabilized
Hollywood movie collections dropped from ₹2,257 Cr in Q1 FY26 to ₹423 Cr in Q1 FY27 — international film performance lags behind domestic titles
Food & beverage revenue climbed from ₹4,919 Cr in Q1 FY26 to ₹5,578 Cr in Q1 FY27 — concession sales remain a steady profit driver
Rent expenses increased from ₹3,180 Cr in Q1 FY26 to ₹3,406 Cr in Q1 FY27 — fixed lease costs continue to rise
Finance costs fell from ₹1,914 Cr in Q1 FY26 to ₹1,645 Cr in Q1 FY27 — lower interest burden supports bottom-line growth
Average ticket price eased from ₹315 in Q4 FY26 to ₹273 in Q1 FY27 — pricing normalizes after peak holiday quarters
Consolidated average per screen revenue grew from ₹927 in Q1 FY26 to ₹1,003 in Q1 FY27 — screen productivity continues to improve
Other operating income contracted from ₹914 Cr in Q1 FY26 to ₹580 Cr in Q1 FY27 — non-core revenue streams are shrinking
Company insights, generated from the most recent coverage.
Share of mega-blockbusters in GBOC fell from 30% to 19% while ₹100-200 Cr films rose from 12% to 20% — earnings are less hostage to one or two tentpole releases than they were two years ago.
Regional demand is broadening beyond Tamil, Telugu, Malayalam and Kannada into Gujarati and Bengali — pan-India scale lets PVR Inox monetise every language cycle, while regional-only chains capture just one.
ICICI Securities pegs Q2FY27 occupancy at 31% with 18.5% EBITDA margin (up 163 bps YoY) and a ₹1,500 target on 12x adj. FY28E EBITDA — sell-side is underwriting execution, not just a content-led bounce.