Buy PVR Inox; target of Rs 1800: Sharekhan

Sharekhan is bullish on PVR Inox has recommended buy rating on the stock with a target price of Rs 1800 in its research report dated May 16, 2023.

Broker Research

May 17, 2023 / 21:39 IST

Buy

26 Aug, 2025 12:21

Volume

Todays L/H

Sharekhan's research report on PVR Inox

PVR reported Revenue at Rs 1143 crore, which missed our estimates of Rs. 1171 crore as admissions for February and March 23 were disappointing due to the lacklustre performance of other Hindi films, which offset blockbuster success of Pathan and impressive box office collections of few Hollywood and regional movies. On a y-o-y basis, sales of movie tickets, F&B, Advertisement income and Convenience fees was up 21%/37%/162% and 55% while on operating metrics front the Occupancy stood at 22.2% /down 290 bps, Average ticket price at Rs. 239/ up 3% and SPH at Rs 119/ up 13% compared to proforma numbers. . For FY24, the company expects revenue of Rs 6000 crores to Rs 7000 crores, driven by a strong movie lineup and the expansion of cinema screens. The company plans to open 150-175 new screens in FY24.

Outlook

We maintain a Buy on PVR with unchanged PT of Rs. 1800, on the back of robust content pipeline, focused expansion of cinema screens and revenue synergies that is expected flow post the merger, At CMP the stock trades at 24.5x/17.7x of FY24E/FY25E EPS.

For all recommendations report, click here