PVR-Inox - ‘Animal’ Spirit To Rescue A Cricket-Impacted Quarter: ICICI Securities

"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..ICICI Securities Report.PVR Inox Ltd. suffered in the first half of Q3 FY24 due to the Cricket World Cup as big budget theatrical releases (Hindi) were moved to the second half. In addition, Hollywood content pipeline was weak (impacted by screenwriters strike). ‘Leo’ collected Rs 3.4 billion and ‘Tiger3’ collected Rs 2.8 billion (Nett. India). However, ‘Animal’ released on Dec 01, 2023 appears to be progressing towards becoming one of the top 10 blockbusters of all time. In six days, it has collected ~Rs 3.2 billion (Nett. India), which is significantly higher than expectations. Over the same period, ‘Sam Bahadur’ collected ~Rs 0.4 billion (Nett. India) with strong word of mouth promotion. Our channel checks indicate occupancy in PVR Inox in December 2023 has been in the range of 55-60%. Given ‘Dunki’, ‘Salaar’ and ‘Aquaman’ are in the pipeline in Q3 FY24, we re-iterate 'Buy'..Key risks: Lower than-expected performance of upcoming movies and merger synergies not playing out as expected..Click on the attachment to read the full report:.Syrma - To Continue Outperforming Its Peers Given Strong Visibility On The Order Book: ICICI Securities.DISCLAIMERThis 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."

PVR-Inox - ‘Animal’ Spirit To Rescue A Cricket-Impacted Quarter: ICICI Securities

Given ‘Dunki’, ‘Salaar’ and ‘Aquaman’ are in the pipeline in Q3 FY24, we re-iterate 'Buy'.

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PVR-Inox - ‘Animal’ Spirit To Rescue A Cricket-Impacted Quarter: ICICI Securities

Given ‘Dunki’, ‘Salaar’ and ‘Aquaman’ are in the pipeline in Q3 FY24, we re-iterate 'Buy'.

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