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Last Updated : Jun 15, 2020 04:01 PM IST | Source: Moneycontrol.com

Hold Inox Leisure target of Rs 270: Sharekhan

Sharekhan recommended Hold rating on Inox Leisure with a target price of Rs 270 in its research report dated June 09, 2020.

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Sharekhan's research report on Inox Leisure


Revenue declined by 22.4% y-o-y owing to sharp drop in footfalls (down 29% y-o-y) owing to nationwide lockdowns; monthly cash burn during lockdown period was Rs 15 - 16 crores. The social distancing norm coupled with truncated F&B menu, risk of box office clashes in short window and staggered seating arrangement would severely impact the performance of multiplexes during 1HFY2021E. Management expects customers would come back from September/October onwards given advertising safety features, marketing initiatives, reward program and private film screenings.


Outlook


We downgraded our rating to Hold from Buy on INOX Leisure Limited (ILL) given multiple headwinds and anticipation of delay in return of normalcy and lowered our PT to Rs. 270.





For all recommendations report, click here

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First Published on Jun 15, 2020 04:01 pm
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