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IDBI Capital Report
Q4 FY21 has been another tough quarter for cinemas and Inox Leisure Ltd.
However, despite the costs related to reopening of its properties and lack of availability of meaningful content, the company was largely able to limit the loss at Ebitda level (adjusted for Indian-accounting standard) in Q4 FY21 to Rs 891 million versus Rs 856 million in Q3 FY21.
The company is already in dialogue with developer partners for waiver of rent and common area maintenance for the current lockdown period as in FY21.
We believe that strong cost management, strong balance sheet and enabling resolution to raise Rs 3 billion through equity makes the company well placed to weather the current adversities.
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