PVR-INOX Q1 Results Review - Bollywood Recovery Under Sight: Prabhudas Lilladher

BQ Prime’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 BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Prabhudas Lilladher Report.In a subdued quarter, PVR-INOX Ltd.’s performance was broadly in-line with footfalls of 33.9 million (our estimate: 33 million) and pre-Indina Accounting Standard Ebitda margin of 6.2% (our estimate: 5.8%). After the recent success of 'Barbenheimer' and MI-7, Bollywood has an interesting pipeline with movies like Oh My God-2, Gadar-2, Jawan and Dream Girl-2 lined up for release in next two months. Even regional pipeline is healthy with movies like Jailor, Bhola Shankar and Salaar gearing up for release in Q2 FY24. Though there are concerns over persistent high volatility in Bollywood genre-sustenance in key performance indicators (average ticket price/spends per head up 2%/10% YoY on proforma basis),expected back ended recovery in ad-revenues (a high margin business) andstrategy to penetrate deeper in Southern market (a high footfall geography) is expected to aid growth and margins. Consequently, we expect footfalls of 154 million/166 million with pre-IND AS Ebitda margin of 16.2%/17.8% for FY24E/FY25E respectively. Retain ‘Buy’ on the stock with a target price of Rs 1,797 (earlier Rs 1,704) after assigning enterprise value/Ebitda of 14.5 times as we roll-forward to FY25E..Click on the attachment to read the full report:.PVR-INOX Q1 Results Review - Improving Occupancy Trend To Drive Long Term Growth: IDBI Capital.DISCLAIMERThis report is authored by an external party. BQ Prime 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 BQ Prime. .Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

PVR-INOX Q1 Results Review - Bollywood Recovery Under Sight: Prabhudas Lilladher

Bollywood has an interesting pipeline with movies like Oh My God-2, Gadar-2, Jawan, Dream Girl-2 in next two months.

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