PVR Inox jumps 5% on strong Q1, analysts see further upside; time to buy?

PVR Inox share price today: Shares of Indian multiplex chain PVR Inox surged 5 per cent to hit an intraday high of ₹1,085 after it reported strong numbers for the June 2025 quarter (Q1FY26).

 

At 11:40 AM, PVR's share price was trading 4.25 per cent lower at ₹1,079.5 per share on the NSE. In comparison, NSE Nifty50 was down 0.54 per cent at 24,441.55 levels. The market capitalisation of the company stood at ₹10,600 crore. The stock has recovered 25 per cent from the 52-week low of ₹830 touched on April 7, 2025.  FOLLOW STOCK MARKET LIVE UPDATES TODAY

PVR Inox Q1 results

In the June 2025 quarter (Q1FY26), PVR Inox reported total revenue of ₹1,487.9 crore, up 23.1 per cent from ₹1,208.6 crore in the year-ago period. The company's earnings before interest, tax, depreciation and amortisation (Ebitda) came in at ₹114.1 crore compared to an Ebitda loss of ₹19.9 crore in Q1FY25. Net loss narrowed to ₹33.5 crore from ₹136.6 crore in the year-ago period. 

 

The company's average ticket price grew 8 per cent Y-o-Y to ₹254, while food and beverage (F&B) Spend per Head (SPH) increased 10 per cent Y-o-Y to ₹148. It posted the highest Q1 Ad Income post-pandemic at ₹109.6 crore, up 17 per cent Y-o-Y.

 

PVR's net debt decreased by 38 per cent or ₹538.9 crore since the merger to ₹891.5 crore in Q1FY26. As of this date, PVR Inox operates 353 cinemas with 1,745 screens across 111 cities.  ALSO READ | NSDL extends rally after strong debut, up 25% against issue price in 2 days

PVR Inox Q1 results analysis - Nuvama Institutional Equities

PVR Inox posted a strong Q1 with revenue and Ebitda in line with the estimates, said Nuvama Institutional Equities. Occupancy levels improved 167 basis points (bps) Y-o-Y to 22 per cent. Advertisement Income increased 17.3 per cent Y-o-Y, while other operating income surged 57 per cent Y-o-Y due to a surge in income from the distribution of films.

 

According to Nuvama Institutional Equities, the overall gross box office collection (GBOC) rose 21 per cent Y-o-Y to ₹8.6 billion, while Bollywood collections grew by 38 per cent Y-o-Y to ₹3.9 billion, driven by a steady flow of Hindi film releases, five movies crossing the ₹1 billion mark, and less dependence on major blockbusters.

 

"Hollywood collections saw a strong 72 per cent Y-o-Y jump to ₹2.3 billion, crossing the ₹2 billion mark for the first time in seven quarters, supported by popular franchise films and F1: The Movie," the brokerage said.

 

Nuvama has maintained a 'Buy' rating with a revised target price of ₹1,530, valuing the stock at 10x FY27E EV/Ebitda.  ALSO READ | Datamatics Global spikes 7% on posting healthy Q1 results; PAT up 16%

JM Financial

According to analysts at JM Financial, PVR expects strong footfalls and occupancy in the coming quarters, supported by a pipeline that includes War2, Coolie, and Jolly LLB in Bollywood, and Avatar and Conjuring in Hollywood. "Q2 performance to date has been robust, aided by the success of Saiyaara, Superman and Jurassic. Management expressed confidence

that FY26 occupancies and admits will surpass FY24 levels (151 million admits)," the brokerage said. 

 

JM Financial raised its consolidated revenue estimate by 2.8-5.7 per cent over FY26-28E, driven by 2.8-3.3 per cent increase in ticketing revenue, 2.7-3.7 per cent increase in F&B and 5.5-35 per cent increase in other operating income over the same period. Ebitda margins estimates have been reduced by 180–20 basis points (bps) over FY26-28E. This is due to an increase of 365-390 bps (per cent of Revenue) in other expenditure, which includes movie distribution or print costs. However, PAT estimates have been raised by 3-4 per cent over FY26-28E, aided by lower depreciation assumptions.

 

The brokerage retained its 'Buy' rating on the stock with a revised target price of ₹1,380, from ₹1,390 earlier.