The brokerage highlighted that PVR INOX delivered its best ever quarter for revenue, Ebitda and PAT. With Ind AS 116-adjusted, topline was up 17% YoY to Rs 2,133 crore, Ebitda up 44% to Rs 475 crore and PAT just doubled to Rs 273 crore. Ebitda margin expanded materially on YoY to 22.3%, while trailing ROCE improved to 16.5% vs 10.2% in FY26, evidencing genuine post-merger operating leverage rather than a purely content-led quarter. The company generated Rs 604 crore of H1 free cash flow, repaid Rs 259 crore debt, completed a maiden Rs 300 crore buyback, and ended September with Rs 141 crore net cash.
NDTV Profit's special research section collates quality and in-depth equity and economy research reports from across India's top brokerages, asset managers and research agencies. These reports offer NDTV Profit's subscribers an opportunity to expand their understanding of companies, sectors and the economy.
-
Indian Markets Turning Corner After Two Tough Years, Says Sandeep Tandon -
NDTV Profit Ignite 2026: Experts See Opportunity In Equities, Stay Bullish For Long-Term -
Buy Right, Sit Tight Does Not Work for Individual Stocks, Says Dinshaw Irani -
'Worst Is Behind': Quant MF Sees Market Bottom, Flags 'Extreme Euphoria' In Midcaps -
India's Mutual Fund Industry Could Become A $1 Trillion Opportunity, Say Fund Managers -
'Foreign Investors Are Baraatis': Raamdeo Agrawal's Take On LTCG Tax -
Stay Invested Through Market Cycles: Raamdeo Agrawal at NDTV Profit Ignite -
Ramesh Damani Remains Bullish On India For Next 20-30 Years, Sees Bargains Amid Market Weakness -
CAS Came After A Long Consultation Process: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFIT IGNITE -
Aim To Cut FPI Onboarding Time From Mth To Five Days: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFI
IDBI Capital Report
Brokerage firm IDBI Capital has maintained its 'Buy' rating on PVR-INOX Ltd., by valuing stock at 25.5 times FY28E earnings per share with a revised target price of Rs 1,670, implying a potential upside of 16% from the reports market price.
Also Read | Layoffs Are Rising In Tech, But These Skills Are Helping People Unlock Better Pay
The brokerage highlighted that PVR INOX delivered its best ever quarter for revenue, Ebitda and PAT. With Ind AS 116-adjusted, topline was up 17% YoY to Rs 2,133 crore, Ebitda up 44% to Rs 475 crore and PAT just doubled to Rs 273 crore.
Ebitda margin expanded materially on YoY to 22.3%, while trailing ROCE improved to 16.5% vs 10.2% in FY26, evidencing genuine post-merger operating leverage rather than a purely content-led quarter.
The company generated Rs 604 crore of H1 free cash flow, repaid Rs 259 crore debt, completed a maiden Rs 300 crore buyback, and ended September with Rs 141 crore net cash.
ALSO READ | HUL Q2 Review: Resilient Demand Trends Despite Inflation Keep Brokerages Bullish; HSBC Hikes Price Target
A new capital-allocation policy targets net debt/Ebitda belw 0.5 times and returns of roughly 30% of annual surplus cash flow via dividends or buybacks—materially improving shareholder-value visibility.
The brokerage sees the SMART Cinema pilot as strategically important with 25–30% lower capex, about 25% lower operating cost, and Rs 190 average ticket pricing create a credible format for underpenetrated tier-3/4 markets.
Management has signed roughly 100 SMART cinemas for the next 12–18 months, identified 300 cities, and indicated 150–175 annual screen additions from FY28, versus 90–100 in FY27.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
