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PVR & Inox: Is COVID-19 a temporary or a permanent setback?

June 12, 2020 / 01:22 PM IST
PVR & Inox: Is COVID-19 a temporary or a permanent setback?

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PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

Multiplex operators –PVR and Inox Leisure- are worst affected by the COVID-19 pandemic. Footfalls had begun to recede in February due to the lean season and with no blockbuster movie releases. The health scare and subsequent closure of multiplexes since mid- March further dented their business and financial performance. The quarter gone by (Q4 FY20) was one of the toughest quarters that film exhibitors has seen in many years. Both leading players reported a loss despite being operational for almost...

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