PVRINOX

** Indian multiplex operator PVR Inox PVRL.NS jumps 4.3% to 940 rupees, on track to log best day since mid-August

** Brokerage Nuvama says February 2025 has been the highest-grossing February post-pandemic for the Bollywood film industry with box-office collections of 12.45 bln rupees (~$144 mln)

** Adds, promoters have slightly increased their stake by 0.03%, which is small but sends a positive signal to minority investors, especially after previous rounds of stake sales and pledged shares

** Says box-office collections in January-February jumped 39% y/y to 22.64 bln rupees, led by the release of "Chhaava" movie

** 19 analysts covering the stock on avg have a "buy" rating; median PT is 1,600 rupees - data compiled by LSEG

** Day's gains trim monthly fall, stock now down 0.3% in March

($1 = 86.7140 Indian rupees)

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))

** Indian multiplex operator PVR Inox PVRL.NS gains as much as 2.9% to 980.35 rupees

** Kotak Institutional Equities says PVRL stock's recent correction is overdone; upgrades stock to "buy"

** PRVL stock fell 17% in February, logging its fifth straight monthly loss

** Brokerage says recent correction in stock due to continued weakness in box office collections, expects Hollywood releases to drive collections in FY26

** Even as the overall content cycle in multiplex chains remains depressed, PVRL's cost optimisation and expansion strategies are noteworthy - Kotak

** Brokerage cuts fair value to 1,200 rupees from 1,300 rupees to factor in delays in bollywood recovery

** PRVL stock up 5.4% so far this week; on track to log biggest weekly gain since early November, if current trend holds

** Stock rated "buy" on avg, median PT at 1,655 rupees - data compiled by LSEG

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))

Feb 6 (Reuters) - PVR INOX Ltd PVRL.NS:

• Q3 CONSOL NET PROFIT 359 MILLION RUPEES

• Q3 CONSOL REVENUE FROM OPERATIONS 17.17 BILLION RUPEES

Further company coverage: PVRL.NS

(([email protected];))

** Multiplex operator PVR Inox PVRL.NS ends 1.4% lower at 1,161 rupees

** PVRL has now shed 12% in five-session losing run

** Yes Securities says the correction was due to fear of HMPV outbreak and is "overdone"

** Says current stock price is "attractive"; retains "buy" call and TP 1,980 rupees

** Analysts on avg rate PVRL "buy", median TP 1825 rupees -LSEG data

(Reporting by Hritam Mukherjee in Bengaluru)

(([email protected];))

Oct 15 (Reuters) - PVR INOX Ltd PVRL.NS:

• PVR INOX Q2 CONSOL NET LOSS 118 MILLION RUPEES; IBES PROFIT EST. 137.7 MILLION RUPEES

• PVR INOX Q2 CONSOL REVENUE FROM OPERATIONS 16.22 BILLION RUPEES; IBES EST. 15.64 BILLION RUPEES

Source text for Eikon: [ID:]

Further company coverage: PVRL.NS

(([email protected];))

Oct 2 (Reuters) - PVR INOX Ltd PVRL.NS:

• PVR INOX LTD - OPENING OF 5 SCREEN MULTIPLEX AT COIMBATORE

Further company coverage: PVRL.NS

(([email protected];))

** Multiplex operator PVR INOX PVRL.NS rises as much as 3% to 1,704.15 rupees, the highest since Jan. 4

** Anand Rathi Research retains "buy", raises PT from 1,750 rupees to 2,065 rupees, a 24.8% premium to last close

** Expects sequential improvement from Q2 and a good Q3 backed by several blockbusters

** About 10% of the new screens added in FY25 and 20-25% in FY26 would be in the form of management-fee and revenue-sharing models

** Mean rating of 20 brokerages is "buy"; their median PT is 1,754 rupees - LSEG

** PVRL gains 2.3% YTD

(Reporting by Meenakshi Maidas in Bengaluru)

(([email protected];))

July 19 (Reuters) - PVR INOX Ltd PVRL.NS:

• JUNE-QUARTER CONSOL NET LOSS 1.79 BILLION RUPEES

• JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 11.91 BILLION RUPEES

Further company coverage: PVRL.NS

(([email protected];))

** Shares of India's largest multiplex operator PVR Inox PVRL.NS fall as much as 2.6%, last down 1.4% at 1,297.3 rupees

** PVRL posts Q4 consol net loss of 1.3 bln rupees ($15.6 mln) vs analysts avg estimate of 835.9 mln rupees loss, per LSEG data

** Co announced strategic partnership with Devyani International DEVY.NS for operating food courts in shopping malls in India

** Shares of PVRL down in the last three weeks, losing ~10% during the period

** Stock trading below its 50-day, 100-day, and 200-day SMAs since January, indicating bearish sentiment

** Trading vol is 2.7x the 30-day daily avg, logging most active session since Aug. 14, 2023

** Avg rating of 22 analysts is "buy", median PT is 1,885 rupees, ~45% higher than current price - LSEG data

** Stock down ~22% YTD

($1 = 83.4870 Indian rupees)

(Reporting by Anuran Sadhu in Bengaluru)

(([email protected] ;))

** Unexciting big-screen content during fourth quarter signals persisting gloom for India's PVR Inox PVRL.NS, says brokerage Investec

** Jan-March period revenue will be the lowest quarterly rev for multiplex operator in FY24; audience behaviour unlikely to dramatically alter unless content is consistently compelling - Investec

** Says net screen additions in FY25 and FY26 to be likely lower than its previous estimates

** PVRL posted a loss and a drop in profit in two of the last three quarters of FY24

** Investec cuts PT from 1,797 rupees to 1,438 rupees, downgrades stock to "sell" from "hold"

** Co rated "buy" on average with median PT of 1,900 rupees - LSEG data

** Stock closes flat; dropped over 16% YTD after a near-4% slip in 2023

(Reporting by Hritam Mukherjee in Bengaluru)

(([email protected];))

April 2 (Reuters) - PVR INOX Ltd PVRL.NS:

• PVR INOX LTD - GOT ORDER DEMANDING DUTY OF 170.6 MILLION RUPEES

• PVR INOX LTD - CO REVIEWING ORDER, WOULD TAKE LEGAL RECOURSE TO CHALLENGE ORDER

Source text for Eikon: [ID:]

Further company coverage: PVRL.NS

(([email protected];))

March 1 (Reuters) - PVR INOX Ltd PVRL.NS:

• OPENING OF 14 SCREEN MEGAPLEX AT PHOENIX MALL, PATNA

Further company coverage: PVRL.NS

(([email protected];))

BENGALURU, Jan 31 (Reuters) - PVR Inox PVRL.NS, India's largest multiplex operator, reported a sharp sequential drop in third-quarter profit on Wednesday, as the Cricket World Cup and an underwhelming slate of Bollywood films kept viewers away.

The theatre chain's profit slumped to 128 million rupees ($1.5 million) during the October-December quarter, from a profit of 1.66 billion rupees in the previous three months.

Since the merger of PVR and Inox closed in February last year, the results are not comparable year-over-year.

"Due to the Cricket World Cup hosted in India, the first half of the quarter had a muted start," PVR said in a statement.

Moreover, major film releases were also delayed in the cricket-crazy country due to the World Cup, while some Bollywood releases, such as 'Tiger 3', 'Sam Bahadur' and '12th Fail', delivered average or below-average box office collections.

Analysts had also said that the Hollywood movies, which account for 15%-20% of PVR's box office revenue, would be in short supply due to the strike in 2023.

As a result, its occupancy slipped to 25.2% in the quarter from 32.3% in the previous quarter.

That, combined with a roughly 26% declines in both ticket and food and beverage sales, resulted in a nearly 23% sequentially drop in overall revenue to 15.46 billion rupees.

PVR Inox's shares dropped 3% after the results.

($1 = 83.0000 Indian rupees)

(Reporting by Navamya Ganesh Acharya in Bengaluru; Editing by Sonia Cheema and Savio D'Souza)

(([email protected]; +91 8805175330 ;))

Jan 19 (Reuters) - PVR INOX Ltd PVRL.NS:

• GOT GST ORDER WITH DEMAND, INTEREST, PENALTY OF 225.3 MILLION RUPEES

Source text for Eikon: ID:nBSE97Cxzf

Further company coverage: PVRL.NS

(([email protected];))

** Shares of India's largest multiplex operator PVR Inox PVRL.NS fall 3% to 1,599.70 rupees

** Brokerage Investec Equities says co likely to see subdued Q3 on weaker-than-expected performance of films such as "Animal" and "Salaar" and fewer blockbuster Hollywood films

** Trims EBITDA estimate for FY24E by 9.3% and profit after tax estimate by 71.7%

** Brokerage expects co to end FY24 with an average occupancy rate of 26% at its movie theatres, below earlier estimate of 28%

** Downgrades stock to "hold" from "buy" and reduces PT to 1,797 rupees, sightly higher than current stock price

** Stock set to decline for third straight session

** PVRL fell 3.6% in 2023

(Reporting by Meenakshi Maidas in Bengaluru)

(([email protected];))

** Shares of PVR Inox PVRL.NS rise as much as 3.06% to a two-month high of 1,830.40 rupees apiece

** Stock up after a large global fund - Norges Bank on account of Government Pension Global - bought 666,183 shares of the multiplex operator (0.68% stake) at 1,753 rupees apiece via bulk deals on Friday, data from National Stock Exchange showed

** Norges Bank had held a 1.4% stake in PVRL at the end of September quarter - NSE data

** Plenty Private Equity Fund I and Plenty Private Equity FII I sold stake in the company

** Trading volume is 796,157 shares as of 2:42 p.m. IST, twice the 30-day avg - LSEG data

** The mean rating of 22 analysts tracking PVRL is 1.6, equivalent to "buy"

** PVRL shares up 6% in 2023 so far, including today's gains

(Reporting by Bharath Rajeswaran in Bengaluru)

(([email protected]; +91 9769003463;))

** Shares of India's largest multiplex operator PVR Inox PVRL.NS up 1.1% to 1,717 rupees

** Brokerage Nuvama sees rebound in box office collections for PVRL in December, after a muted start to Q3 due to cricket world cup discouraging content flow

** Adds, upcoming films including "Animal" and "Aquaman and the Lost Kingdom" to show strong numbers; expects overall content slate to pick up

** To compensate for fewer movies released from October to mid-November, PVR Inox offered screening of the cricket world cup across 150 cinemas in 60 cities, which led to some benefits - brokerage

** Avg rating of 21 analysts tracking PVRL at "buy"; median PT is 2,035 rupees - LSEG data

** Including day's move, stock down 0.2% YTD

(Reporting by Kashish Tandon in Bengaluru)

(([email protected]))

** CLSA recommends Indian large-cap liquid stocks for maximising capital protection and select mid-caps for growth opportunities

** Recommendations include Axis Bank AXBK.NS, Bharti Airtel BRTI.NS, Hindustan Unilever HLL.NS , ICICI Bank ICBK.NS, Mahindra & Mahindra MAHM.NS, NTPC NTPC.NS, Sun Pharma SUN.NS, UltraTech ULTC.NS, Tata Consultancy Services TCS.NS and State Bank of India SBI

** Says, stocks offer exposure to growth drivers, such as end of India's rate hike cycle in 2024, rural recovery in mid-2024 and RBI's move to protect rupee, ensuring external stability

** Adds mid-cap stocks such as Zomato ZOMT.NS, PVR Inox PVRL.NS, Delhivery DELH.NS, Prestige Estate PREG.NS and Paytm PAYT.NS also offer long-term value

** Says its picks are on three defensive principles - sectors that have already sold off or underperformed markets, traditional defensives, and stocks with a positive major event coming up

** India's economy will reach $29 tln in 2047 from current$3.4tn and $45 tln by 2052, surpassing Japan's nominal US-dollar GDP by 2027 - CLSA

(Reporting by Sethuraman NR in Bengaluru)

(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))

Oct 20 (Reuters) - PVR INOX Ltd PVRL.NS:

• CUSTOMS EXCISE & SERVICE TAX APPELLATE TRIBUNAL RETAINED ORIGINAL DEMAND OF 530 MILLION RUPEES LEVIED BY SERVICE TAX AUTHORITIES

Source text for Eikon: ID:nBSE7NfFyw

Further company coverage: PVRL.NS

(([email protected];))

By Rama Venkat

BENGALURU, Oct 19 (Reuters) - PVR Inox PVRL.NS, India's largest multiplex operator, swung to a quarterly profit on Thursday as the smashing success of Hollywood titles "Barbie" and "Oppenheimer", and hit Bollywood films lured more customers.

The theatre chain, reporting results for the third time since the merger of PVR and Inox, reported a profit of 1.66 billion rupees ($19.95 million) for the July-September quarter, compared with losses in each of the previous two quarters.

The company had said in August that the strong box office performances of Hindi films such as "Gadar 2" and "Rocky aur Rani ki Prem Kahani," coupled with "Jailer" in Tamil and "Barbenheimer," had led to record footfall.

That helped PVR Inox, which opened 37 new screens in the quarter, boost theatre occupancy to 32.3% this quarter from 22.3% in the previous quarter.

Moreover, not only did its average ticket price rise 12.2% sequentially to 276 rupees, customers spent 136 rupees per head on food and beverage in the quarter, more than the 130 rupees in the previous quarter.

That helped the company's consolidated revenue surge 53.3% sequentially to 20 billion rupees.

That more than offset PVR Inox spending 66% more on movie exhibitions and 44% more on food and beverage in anticipation of the higher footfall. Its total expenses jumped 25.3%.

PVR Inox's shares, which had surged 25% in the September quarter after declining in the previous two quarters, ended the session 1.6% lower.

"Enthusiasm around the movies and PVR Inox's results were in line with expectations and hence, we do not see much of a reaction on the stock," said Vivekanand Subbaraman, research analyst at brokerage Ambit Capital.

PVR Inox also said it reduced its net debt by 3.28 billion rupees in the last six months, setting it on track to be free cash flow positive by the end of the fiscal year.

($1 = 83.2100 Indian rupees)

(Reporting by Rama Venkat and Hritam Mukherjee in Bengaluru; Editing by Savio D'Souza)

(([email protected]; X: @MukherjeeHritam;))

Oct 10 (Reuters) - PVR INOX Ltd PVRL.NS:

• NCLT ALLOWED SCHEME OF AMALGAMATION OF SHOURI PROPERTIES WITH CO

Source text for Eikon: ID:nBSE8Z9yS2

Further company coverage: PVRL.NS

(([email protected];))

** The cricket World Cup campaign beginning on Oct. 5 in India will boost sectors like quick service restaurants (QSR), food delivery, beverages, hotels and airlines, Jefferies said in a note

** Jefferies expects companies to run World-Cup specific promotions on match days to tap consumption boost

** Says, consumption spurt is evident in flight and hotel bookings; fares have shot up on India match days

** Adds, expect a surge in media activity in coming weeks; Nifty media index .NIFTYMED up 1.7%

** There should be negative impact on footfalls for movie theatres, theme parks, and offline brick-and-mortar retailers - Jefferies

** QSR stocks like Restaurant Brands Asia RESR.NS, Devyani International are up 4% and 1.2%, respectively, food delivery co Zomato ZOMT.NS up 2.5% on Thursday

(Reporting by Sethuraman NR in Bengaluru)

(([email protected]; (+91 8061822737); Reuters Messaging: [email protected]))

** Shares of PVR INOX Ltd PVRL.NS rise as much as 2.4% to 1,870.35 rupees, highest since Dec. 15

** Nuvama expects record Q2FY24 results after highest-ever monthly admissions and box office in August on the success of Hindi movies Gadar-2 and Jailer

** Adds, PVRL to further gain from Hindi-language movie Jawan, which released on Thursday

** Retains 'buy,' raises PT to 2,210 rupees

** Trading volume at ~1.3 mln shares, 1.5x the 30-day avg of ~878,700 shares as of 2:40 p.m. IST

** Average rating of 20 analysts covering stock at equivalent of 'buy;' median PT is 1,978 rupees - LSEG data

** Stock last up ~7.7% this year

(Reporting by Biplob Kumar Das in Bengaluru)

(([email protected]))

Sept 1 (Reuters) - PVR INOX Ltd PVRL.NS:

• GROSS BOX OFFICE REVENUE OF ABOUT 5.32 BILLION RUPEES IN AUGUST

Source text for Eikon: ID:nNSE5Tbgyf

Further company coverage: PVRL.NS

(([email protected];))

Aug 14 (Reuters) - PVR INOX Ltd PVRL.NS:

• EARNED GROSS BOX OFFICE REVENUE OF ABOUT 395 MILLION RUPEES ON AUG 13

• WEEKEND OF 11-13TH AUG'23 WAS BIGGEST WEEKEND EVER IN COMPANY'S HISTORY

Source text for Eikon: ID:nNSE6frpyq

Further company coverage: PVRL.NS

(([email protected];))

Aug 1 (Reuters) - PVR INOX Ltd PVRL.NS:

• JUNE-QUARTER CONSOL NET LOSS 816 MILLION RUPEES VERSUS PROFIT 534 MILLION RUPEES

• JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 13.05 BILLION RUPEES VERSUS 9.81 BILLION RUPEES

Source text for Eikon: [ID:]

Further company coverage: PVRL.NS

(([email protected];))

July 26 (Reuters) -

• SCHEMES OF NIPPON INDIA MUTUAL FUND RAISE STAKE IN PVR INOX TO 5.3477% FROM 4.8825% - EXCHANGE FILING

Further company coverage: PVRL.NS

(([email protected];))

** Shares of PVR INOX PVRL.NS jump 2.6% to 1,486 rupees, their highest since June 16, amid a weaker broader market

** Advance bookings for Oppenheimer and Barbie, or Barbenheimer as coined by the internet, exceed predictions ahead of July 21 release, entertainment website Pinkvilla reports

** Oppenheimer and Barbie sell over 2.3 lakh (230,000) tickets in PVR, INOX and Cinepolis, the top 3 Indian national chains, per Pinkvilla

** Oppenheimer, Barbie and other Hollywood movies should significantly narrow gap in collections vs pre-Covid, Nuvama analysts say

** Stock on track to rise for third straight session, if gains hold, and has now cut YTD losses to ~14%

(Reporting by Kashish Tandon in Bengaluru)

(([email protected]))

** Shares of film exhibitor PVR INOX Ltd PVRL.NS rise as much as 3.3% to 1,473 rupees, highest since June 16

** India's Goods and Services Tax (GST) Council on Tuesday decided to cut tax on food and beverages at cinema halls to 5% from 18%

** This will save time and effort for the cinema exhibitors in fighting litigations however in terms of financials and estimates there is zero impact - Karan Taurani, analyst at Elara Securities

** Stock on track for third straight session of gains

** Trading volume at ~744,850 shares, 1.2x the 30-day avg of ~606,457 shares as of 9:40 a.m. IST

** Average rating of 24 analysts covering stock equivalent to 'buy'; median PT is 1,950 rupees - Refinitiv data

** Stock last down ~16% YTD

(Reporting by Biplob Kumar Das in Bengaluru)

(([email protected]))

Removes reference to milestone on stock's worst day, fixes milestone in last bullet

** Shares of PVR INOX Ltd PVRL.NS fall as much as 6.9% to 1336.40 rupees, their biggest intraday pct loss since Dec 6, 2021

** The cinema operator lost 7% in the past two sessions

** Prabhudas Lilladher ("buy") cuts price target to 1,879 rupees from 2,096 rupees; reduces EBITDA estimates for FY25 after co's "dull" FY24 screen opening outlook of 150-175 screens

** B&K Securities ("hold") reduces price target to 1,705 rupees from 1,800 rupees; says co needs several movies in the 1-2 billion rupees net collections for re-rating

** Eleven of 12 analysts, who reviewed their recommendations after results on Monday, reduced their price target - Refinitiv data

** Over 1.9 mln shares change hands, 3.4x their 30-day avg volume

** Stock down 16.6% this year, as of last close

(Reporting by Nandan Mandayam in Bengaluru)

(([email protected]; Mobile: +91 9591011727;))