Film Production, Distribution & Exhibition industry

35 companies · ₹24,465 cr · 6 with AI deep dives · Q1FY27 report

Footfall-led recovery broadens beyond one blockbuster, but H2 still rests on a handful of tentpoles

Turning upmargin troughed at 17.4% and has risen for 7 quarters to 24.9%, on positive revenue growth

Revenue YoY: +21.6%
EBITDA margin: 24.9%; +270bps YoY
Price, 1 year: +49.5%; 100% of names up
P/E vs own 5y: -41.5%; 60.1x now

Exhibit 1The quarter in numbers

constant panel of 4 companies above ₹500 cr

aggregate revenue (₹ cr)EBITDA margin (right axis)

Metric	Jun 26	Mar 26	QoQ	Jun 25	YoY	Peak	vs peak
Revenue	2,238 cr	1,925 cr	+16.3%	1,841 cr	+21.6%	2,830 cr	-20.9%
EBITDA margin	24.9%	24.7%	+20bps	22.2%	+270bps	28.1%	-320bps

Revenue

Jun 26: 2,238 cr
Mar 26: 1,925 cr
QoQ: +16.3%
Jun 25: 1,841 cr
YoY: +21.6%
Peak: 2,830 cr
vs peak: -20.9%

EBITDA margin

Jun 26: 24.9%
Mar 26: 24.7%
QoQ: +20bps
Jun 25: 22.2%

Sept 26: 0 of 5 reported so far, so it is not in the trend above.

Breadth: 100% of 4 companies grew revenue year on year (was 75% a quarter earlier) and 75% expanded margin (was 50%).

Exhibit 2What it costs

45.56x - 114.1x across the panel today

The median name trades at 60.1x, -41.5% against this industry's own 5-year median of 102.7x, and -54.1% against its own peak of 130.8x.

Exhibit 3Structure

₹24,465 cr

PVR Inox Ltd is 56.4% of this industry by market cap. The top 5 are 89.6% and the top 10 are 96.1%.

mid 1small 4micro 305 above ₹500 cr

Exhibit 4Screen

P/E below the sub-industry median of 60.08x, 5y ROCE above its median of 2.38%, and at least 2 growth triggers stated on the latest earnings call.

Which names clear this screen is premium

The screen runs on stated growth triggers from the latest earnings calls - the same guidance data the stock screener reserves for premium. Premium names every company in this industry that is cheap against its own median and has the triggers behind it.

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Exhibit 5Coverage (25 of 32)

Every company here with a deep dive, topped up by market cap. The rest of the industry is in the appendix.

Company	Mcap	P/E	EV/EBITDA	ROCE	Margin	Rev YoY	Read
PVR Inox Ltd	₹14,412 cr	31.1x	6.8x	7.2%	31.5%	+10.4%	Unlock
Jojo Ltd	₹3,200 cr

Exhibit 6What managements said

from this industry's latest earnings calls · as of 2026-06-30

tailwindFootfall recovery driving operating leverage at exhibitors2 managements

Both exhibitors reported admits growth (PVR Inox +8%, Cineline +29%) and margin expansion from operating leverage. PVR Inox's Ind AS 116-adjusted EBITDA margin was 14% vs 8.2%…

PVR Inox (Q1 FY27): “EBITDA nearly doubled to INR230 crores at a 14% margin. This margin expansion reflects…”

headwind3 managements tailwind3 managements

Exhibit 7Outlook

The outlook and what resolves next quarter

Where these managements said things are heading, and the dated, checkable events that would change it. Free with an account - 3 full reports a quarter.

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AppendixThe other 7 companies

1-7

sort: mcap · composite · name

Company	Mcap	P/E	EV/EBITDA	ROCE	Margin	Rev YoY	Read
Filmcity Media Ltd	₹7 cr	-	-28.2x	-9.7%	-	-