Now Showing: PVR INOX – Q4FY25 Box Office Review
Lights dim. The curtains rise. On screen: India’s biggest multiplex brand takes center stage for its quarterly performance. The reviews are in—and while the plot may have slowed in Q4, the sequel promises a dramatic comeback.
Act I: The Opening Credits – Rationale
“PVR INOX reported a soft quarter, with 20.5% occupancy (KIE: 20%).”
That’s our cold open. The performance was lukewarm, as the content cycle hasn’t yet hit its stride. But stay seated—because the projections ahead are full of drama and redemption:
“Stock is currently trading at a valuation of 27.0x P/E FY27E EPS.” “Roll over and maintain FV at ₹1,200 (~12X June 2027E EV/EBITDA).”
Act II: The Mid-Movie Twist – Q4 Earnings Plot
Scene 1: The High Points
The lead character—Ticket Sales—didn’t disappoint.
“Ticket sales stood at ₹644.7 Cr (in-line), up 1.5% YoY.”
Behind the scenes, the production team kept things lean and efficient:
“We continue to be positively surprised by its capital efficiency.” “There is cost control (fixed cost per screen is nearly flat on a 5-year CAGR basis).” “Content flow likely to improve in FY26E; capital-light model on track.”
Translation: Tight budgeting, streamlined costs, and a creative team waiting for better scripts in FY26.
Scene 2: The Conflict
Every story needs tension. Enter: declining footfalls and fading ad income.
“Footfalls declined ~6.4% YoY to 30.5 Mn, as occupancy moderated to 20.5%.”
“Ad income declined 7.9% YoY to ₹96.2 Cr (~3.5% miss).”
| Key Numbers | Q4FY25 | YoY Movement |
|---|---|---|
Occupancy | 20.5% | Moderated (no % given) |
Footfalls | 30.5 million | ↓ ~6.4% |
Ad Income | ₹96.2 crore | ↓ 7.9% |
Despite the dip, the audience hasn’t left the theatre. In fact, they’re staying for what’s coming next.
Act III: The Comeback Arc
With earnings projected to soar in FY26E and FY27E, the climax of this financial storyline is already being scripted.
“We expect earnings to grow by 176.8% in FY26E & grow by 201.4% in FY27E.”
That's not just a happy ending—it’s a franchise revival.
Final Review: 3 Stars Now, 5 Stars Later?
So here we are. Q4FY25 was no box office hit—but neither was it a flop. With content revival expected in FY26E and strong cost control in place, PVR INOX looks set for a blockbuster run.
“BUY” the ticket now... and enjoy the show in the coming quarters.
End of show. Or maybe, just the interval.
Post-Credit Scene: Disclaimers (The Fine Print)
This feature is based on a synopsis of a research report issued by Kotak Securities Limited. For the full story (and disclaimers), make sure to check out the original sources:
Investments in securities market are subject to market risks, read all the related documents carefully before investing. This information is purely backed by KSL research analyst based on research recommendation. Kotak Securities Ltd has registration granted by SEBI, Enlistment as RA and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors. Registered Office: 27 BKC, C 27, G Block, Bandra Kurla Complex, Bandra (E), Mumbai 400051. SEBI Registration No. INZ000200137 (Member of NSE, BSE, MSE, MCX & NCDEX), Member Id: NSE-08081; BSE-673; MSE-1024; MCX-56285; NCDEX-1262. Research Analyst INH000000586; BSE Enlistment No: 5035 for compliance T&C and disclaimers, Visit https://ddei5-0-ctp.trendmicro.com:443/wis/clicktime/v1/query?url=https%3a%2f%2fbit.ly%2flongdisc&umid=818E14E7-34FE-7906-906B-8F0B1C42A394&auth=d2c41a7df2e2ef1fca42bbbefb1c825d24cf1548-36f3d1caa4f5ef82b030dac05eca909befcec775,
