PVR Inox Ltd(PVRINOX)

NSE: PVRINOXBSE: 532689

₹ 1,405-1.05%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 13,797 crNext results: 28 Oct 2026Website: www.pvrcinemas.comUpdated: 24 Oct 2026

About

PVR INOX Ltd is India's largest multiplex cinema chain, operating 1,797 screens across 358 properties in 114 cities as of September 2026. The company earns revenue through film exhibition (94.7% of FY26 segment revenue), food and beverage, advertising, and a smaller film production and distribution arm. On an Ind AS 116-adjusted basis, FY26 revenue reached a record INR 6,742 Cr with 150 million admissions.^[1][2]

Business segments

Movie exhibition contributed INR 6,607.9 Cr (94.7% of segment revenue) in FY26, covering ticket sales, F&B and in-cinema advertising across the multiplex network.^[2]
Movie production and distribution contributed INR 371.4 Cr (5.3% of segment revenue) in FY26; the distribution arm targets 8 - 10 Hindi and 15 - 20 Hollywood films per year.^[2]
PVR INOX Pictures is described as India's largest independent distributor of English and foreign-language films; its revenue grew 72% to INR 3,853 mn in FY25 from INR 2,236 mn in FY24.^[3]

Cinema formats and brands

As of FY25, premium formats totalled 268 screens, about 15.4% of the screen portfolio.^[3]
Formats include Director's Cut, Insignia, LUXE, IMAX, ICE, P[XL], BIGPIX, ScreenX, 4DX, MX4D, Playhouse, Kiddles, Onyx, Sapphire and Club.^[3]
In FY25 the company launched its first owned food brand, hot dog brand 'Dog Father', and rolled out non-vegetarian menus across 116 INOX cinemas.^[3]
A joint venture with Devyani International opened its first mall food court in Kota in FY25, with plans for another 7-9 food courts in FY26.^[3]

Screen count and footprint

As of September 25, 2026, PVR INOX operates 1,797 screens across 358 properties in 114 cities, following the opening of a 5-screen multiplex at MyMoon, Kochi (814 seats).^[1]
Screen count stood at 1,779 in Q1 FY27, up 2.1% YoY from 1,743 screens in Q1 FY26.^[4]
93 gross screens were opened in FY26; screen exits dropped to 18 from 72 in FY25 as post-merger portfolio rationalisation is largely complete.^[5]
Overseas, the company runs 1 cinema with 9 screens in Colombo, Sri Lanka through subsidiary PVR INOX Lanka Limited (FY25).^[3]

Key operating metrics

Q1 FY27 admissions: 36.6 million, up 8% YoY; occupancy improved to 25.3% from 22.0% in Q1 FY26.^[4]
FY26 total admissions: 150.1 million, up 9.6% YoY; occupancy 26.2%, up 312 bps YoY.^[5]
Q1 FY27 average ticket price (ATP): INR 273, up 8% YoY; F&B spend per head (SPH): INR 161, up 9% YoY.^[4]
FY26 full-year ATP: INR 280 (+8.1% YoY) and SPH: INR 147 (+9.5% YoY), both record highs.^[5]
Online ticketing penetration reached 68.8% in Q1 FY27, up from 63.4% in Q1 FY26.^[4]
Film hire cost fell to 43.9% of ticket revenue in Q1 FY27, down 214 bps YoY; F&B COGS fell to 21.2%, down 220 bps YoY.^[4]

Advertising and customers

Advertising partners include Coca-Cola, HSBC, Visa and Kotak; advertising income was INR 4,475 million in FY25, nearly flat year on year.^[3]
The company states it connects with over 180 million patrons (FY25).^[3]
A digital advertising platform on the app and website was launched in FY27; annualised revenue potential estimated at INR 2 - 3 Cr.^[4]

Box office and content

India gross box office grew 20% YoY to INR 3,175 Cr in Q1 FY27; regional GBOC rose 22% YoY with Marathi up 400% and Kannada up 76%.^[4]
India GBOC hit an all-time high of INR 13,519 Cr in FY26, up 11% YoY; Hindi GBOC posted its best year ever (+55% YoY) and English GBOC grew 54%.^[5]
Mid-budget films (INR 100 - 200 Cr) grew their share of India GBOC from 12% to 20% in FY26.^[5]
Alternate programming contributed 1% of GBOC in Q1 FY27 with 2.5 lakh admits at an ATP of INR 409; the FIFA World Cup final alone drew 64,000 attendees.^[4]

Expansion and capex

55% of FY26's 93 new screens were capital-light (22 FOCO + 29 asset-light); capital-light pipeline stood at 138 signed screens (52 FOCO + 86 asset-light) at FY26-end.^[5]
Management targets 90 - 100 gross and approximately 80 net new screens in FY27 (revised down from 120), with most openings expected in Q2 and Q3 after regulatory delays held Q1 to zero.^[4]
Smart Cinema, a value format for Tier 2/3 markets, is to open first in Muzaffarpur under FOCO/asset-light; capex per screen is 30 - 40% below a mainstream cinema (Q1 FY27).^[4]
About 300 underserved Tier 2/3 cities with populations above 150,000 are identified; management targets approximately 1,000 new screens over the next five years (Q1 FY27).^[4]
FY27 capex revised to approximately INR 350 Cr (from INR 375 - 400 Cr guided at FY26-end) due to a stronger capital-light mix; FY26 capex fell 24% YoY to INR 254 Cr.^[4][5]

Recent developments

September 25, 2026: opened 5-screen multiplex at MyMoon, Kochi (814 seats), bringing total to 1,797 screens across 358 properties in 114 cities.^[1]
Net debt turned negative at INR -807 Mn as of June 30, 2026; gross debt reduced to INR 5,509 Mn from INR 7,586 Mn at March 2026.^[4]
Q1 FY27: Board evaluating a buyback and/or dividend, with no timeline committed.^[4]
January 2026: divested entire stake in 4700BC snacking brand to Marico for an all-cash INR 226.8 Cr; the exceptional gain is in Q4 and FY26 PAT.^[6]
A dine-in cinema concept was piloted in Bangalore in H1 FY26; management plans to roll it out to more locations.^[7]

Market Cap

₹13,797 Cr

High / Low

₹1,426 / 900

Stock P/E

31.0

Price / Book

1.9

Book Value

₹751

EPS

₹34.0

No. of Shares

9.82 Cr

ROCE

7.2%

ROE

4.6%

OPM

14.8%

Debt / Equity

0.10

Sales

₹6,646 Cr

Net Profit

₹333 Cr

Promoter holding

27.0%

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PVR Inox Ltd(PVRINOX)

About

Business segments

Cinema formats and brands

Screen count and footprint

Key operating metrics

Advertising and customers

Box office and content

Expansion and capex

Recent developments

Signal history

The analysis Screener can't give you

AI Deep Dive

Verdict

Company data

Product Segments

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