Pvr Inox Limited · NSE:PVRINOX
Pvr Inox — Q2 FY2027 Earnings Presentation
38 slides from Pvr Inox's earnings presentation, Oct 28, 2026
Slide 1: Exchange filing cover letter
October 28, 2026 The Manager - Listing National Stock Exchange of India Limited (Scrip Symbol: PVRINOX) The Manager – Listing BSE Limited (Scrip Code: 532689) Sub: 2nd Quarter, FY 2026-27 - Investor Presentation Dear Sir / Madam, Please find attached presentation on Investor update for the Second Qu
Slide 2: Investor Update: Q2 FY'27
INVESTOR UPDATE INVESTOR UPDATE : Q2 FY’27 October 28th, 2026 Q2 & H1 FY’27
Slide 3: Disclaimer
Disclaimer This presentation has been prepared for general information purposes in respect of PVR INOX Limited (“Company”) together with its subsidiaries and joint venture (together, with the “Company”, the “Group”) only, without regard to any specific objectives, suitability, financial situations a
Slide 4: Disclaimer
Disclaimer This presentation is not a prospectus, a statement in lieu of a prospectus, an offering circular, an advertisement or an offer document under the Companies Act, 2013, as amended, the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, a
Slide 5: Index
Index 01 Q2 FY’27 RESULTS HIGHLIGHTS 5 02 INDUSTRY UPDATE 8 03 RESULTS ANALYSIS 13 04 BALANCE SHEET AND CASH FLOW 18 05 SCREEN GROWTH OUTLOOK 22 06 ANNEXURES 26 07 CONTENT LINEUP 31 INVESTOR UPDATE : Q2 FY’27 4
Slide 6: Q2 FY'27 Results Highlights
Q2 FY’27 RESULTS HIGHLIGHTS INVESTOR UPDATE : Q2 FY’27
Slide 7: Highest Ever Q2 FY'27
✦ N O W S H O W I N G ✦ HIGHEST EVER Q2 FY’27 — the biggest quarter of all time REVENUE EBITDA PAT INR 21,327 Mn INR 4,752 Mn INR 2,733 Mn (22.3% Margin) (12.8% Margin) +17% Y o Y +44% Y o Y +111% Y o Y H1 FY’27 — the biggest half-year of all time INR 37,750 Mn INR 7,048 Mn INR 3,438 Mn (18.7% Margi
Slide 8: Key Operating Highlights
Key Operating Highlights Q2 FY’27 Admits(Mn) & Occupancy % ATP(INR) SPH(INR) 30.4% 28.7% +4% +14% 298 44.5 46.3 262 +14% 153 134 Q2FY'26 Q2FY'27 Q2FY'26 Q2FY'27 Q2FY'26 Q2FY'27 H1 FY’27 Admits(Mn) & Occupancy % ATP(INR) SPH(INR) 27.9% 25.4% +6% +11% 78.5 82.9 287 +11% 156 259 140 H1FY'26 H1FY'27 H1F
Slide 9: Industry Update
INVESTOR UPDATE : Q2 FY’27 INDUSTRY UPDATE
Slide 10: H1 FY'27 Industry Box Office Up 22% on a Wider Content Slate
H1 FY’27 Industry Box Office Up 22% on a Wider Content Slate Industry GBOC Up 22% YoY English Gains Share Performance is broad-based INR Cr +506 7,618 500 Cr+ 9% 24% +600 22% 49% 47% 200-500 Cr +162 31% 25% +108 100-200 Cr 6,241 14% 19% 22% 23% 21% GROWTH 40-100 Cr 37% 34% 22% 0-40 Cr 23% H1 FY’26 H
Slide 11: Q2 FY'27: Biggest Quarter of all Time
Q2 FY’27: Biggest Quarter of all Time Q2 India GBOC YoY Growth 01 INDUSTRY GROSS BOX OFFICE | Q2 FY’27 INR Cr FIRST TIME 4,443 INR 4,443 Cr QUARTERLY GBOC CROSSED INR 4,000 Cr. 3,604 3,154 02 INDUSTRY GROWTH MOMENTUM SUSTAINED Q1 FY’27 Q2 FY’27 20%+ GROWTH IN +20% +23% BOTH QUARTERS 03 ENGLISH CINEM
Slide 12: Hollywood's Best Year Yet in India, Led by Spider-Man
Hollywood’s Best Year Yet in India, Led by Record-Breaking Spider-Man HOLLYWOOD BOX OFFICE (Industry) SPIDER-MAN : BRAND NEW DAY INR Cr 1,024 India’s highest- grossing English 548 +87% film ever: INR 608 Cr 608 | 275 Q2 FY'26 Q2 FY'27 KEY DRIVERS OF GROWTH • Franchise and non-franchise films togethe
Slide 13: Hindi & Regional: Rooted Stories, Star Spectacles
Hindi & Regional: Rooted Stories, Star Spectacles and a Streaming Hit on the Big Screen HANUMAN ANSH MIRZAPUR THE MOVIE FRANCHISE SEQUEL HITS HINDI* Rooted Faith First Hindi Web Based Story Series Turned Built on Cinema INR 1,553 Cr Word of Mouth Blockbuster 351 | 140 267 | 100 +12% Y o Y 200 | 67 1
Slide 14: Results Analysis
Born on Streaming, Blockbuster in Cinemas INVESTOR UPDATE : Q2 FY’27 RESULTS ANALYSIS
Slide 15: Revenue Analysis
Revenue Analysis Particulars (INR Mn) Q2 FY’27 Q2 FY’26 Y-o-Y Growth H1 FY’27 H1 FY’26 Y-o-Y Growth Screen Count* 1,797 1,757 2.3% 1,797 1,757 2.3% (at the end of the period) Weighted Average Screens 1,717 1,700 1.0% 1,718 1,695 1.4% Excluding Management/FOCO Screens Sale of Movie Tickets 11,604 9,8
Slide 16: Expense Analysis
Expense Analysis Particulars (INR Mn) Q2 FY’27 Q2 FY’26 Y-o-Y Growth H1 FY’27 H1 FY’26 Y-o-Y Growth Weighted Average Screens 1,717 1,700 1.0% 1,718 1,695 1.4% (Excluding Management/FOCO Screens) Variable Cost FHC (%) 44.5% 45.5% -94 bps 44.3% 45.7% -137 bps COGS (%) 21.5% 21.7% -23 bps 21.3% 22.5% -
Slide 17: A Structurally Stronger Business Post Merger
A Structurally Stronger Business Post Merger Pre Covid Present FY’20 (1) Q2 FY’27 H1 FY’27 -160 to -410 bps Occupancy % 32.0% 30.4% 27.9% EBITDA % 17-18% < 22.3% 18.7% ROCE % 13% < 16.5% (TTM Sep’26) Merger synergies, cost discipline and capital efficiency have structurally lifted margins and return
Slide 18: Revenue Initiatives: Footfalls, F&B Occasions, Event-led Monetisation
Revenue Initiatives: Grow Footfalls, Extend Food Occasions and Event-led Monetisation 01 DRIVE FOOTFALLS 02 EXTEND F&B OCCASIONS 03 ALTERNATE CONTENT Value-led ticketing Food beyond cinemas Events-led monetisation Weekday morning shows @ ₹99 Expanding Home delivery Live events Friday first shows @ ₹
Slide 19: Balance Sheet and Cash Flow
BALANCE SHEET AND CASH FLOW INVESTOR UPDATE : Q2 FY’27
Slide 20: Strong Free Cash Flow Generation
Strong Free Cash Flow Generation All Figures in INR Mn H1 FY’27 (Consolidated) Capex 1,323 Finance Cost 424 EBITDA 7,048 Share BuyBack 3,000 Free Cash Flow 6,035 Debt Repayment 2,586 Working Capital Surplus Cash & Other Adj. 449 734 ROBUST OPERATING CASH FLOWS AND REDUCED CAPEX INTENSITY DRIVING STR
Slide 21: Balance Sheet Strength and Capital Allocation Priorities
Balance Sheet Strength and Capital Allocation Priorities Capital Allocation Priorities* All Figures in INR Mn NET DEBT Invest for growth 14,304 1 • New screens, premium formats and technology; value accretive opportunities • Maintain a high-quality circuit Maintain balance sheet strength Maintained
Slide 22: ROCE Improvement
ROCE Improvement ROCE Improvement Accelerating Restructuring Recovery Cyclical dip Breakout Compound 16.5% 10.2% 4.1% 6.1% -0.3% PVR INOX Merger Integration Completed Weak Year -external, Strong FCF Net cash Announced and not structural Generation and Positive and Merger Synergies Pivot Towards Debt
Slide 23: Screen Growth Outlook
SCREEN GROWTH OUTLOOK INVESTOR UPDATE : Q2 FY’27
Slide 24: New Screen Additions Update
New Screen Additions Update Screen Growth Outlook OPENING # CINEMAS OPENED IN H1FY’27 MODEL DATE SCREENS FY’27 FOCO Model 1. PVR Mall 11, Jabalpur Asset Light 30-Jul-26 3 Lease Model 13% 2. INOX Brigade Utopia Asset Light 28-Aug-26 6 23% ICON Mall Muzaffarpur SMART Cinema, 3. Asset Light 4-Sep-26 4
Slide 25: SMART Cinemas: Unlocking Under-Screened India
SMART Cinemas: Unlocking Under-Screened India Through Capital-Light Growth FIRST CINEMA OPENED IN MUZAFFARPUR, BIHAR MAKING CINEMA ACCESSIBLE. MAKING GROWTH SCALABLE. Affordable smart model to capture Tier 3 & Tier 4 markets Market opportunity across ~300 cities and ~1,000 screens Capital-efficient
Slide 26: Diversified Network of 1,797 Screens
Diversified Network of 1,797 Screens in 114 Cities LADAKH 1 CINEMA | 2 SCREENS MAKING THE BRAND ‘ASPIRATIONAL’ & PUNJAB 17 CINEMAS | 90 SCREENS JAMMU & KASHMIR 2 CINEMAS | 5 SCREENS ‘AFFORDABLE’ CHANDIGARH UTTARAKHAND Tier III 3 CINEMAS | 15 SCREENS 3 CINEMAS | 16 SCREENS 9% HARYANA UTTAR PRADESH 22
Slide 27: Annexures
ANNEXURES 3
Slide 28: Annexure 1: Result Summary Q2 FY'27 vs Q2 FY'26
Annexure 1: Result Summary (Consol) – Q2 FY’27 vs Q2 FY’26 Q2 FY’27 7 Q2 FY’26 Particulars (INR Mn) Ind-AS 116 Ind-AS 116 Ind-AS 116 Ind-AS 116 Reported Reported Impact Adjusted Impact Adjusted Total Income 21,393 66 21,327 18,344 157 18,187 Expenses 13,358 -3,217 16,575 11,849 -3,038 14,887 EBITDA
Slide 29: Annexure 2: Result Summary H1 FY'27 vs H1 FY'26
Annexure 2: Result Summary (Consol) – H1 FY’27 vs H1 FY’26 H1 FY’27 7 H1 FY’26 Particulars (INR Mn) Ind-AS 116 Ind-AS 116 Ind-AS 116 Ind-AS 116 Reported Reported Impact Adjusted Impact Adjusted Total Income 37,876 126 37,750 33,161 292 32,869 Expenses 24,295 -6,407 30,702 22,308 -6,050 28,358 EBITDA
Slide 30: Annexure 3: Balance Sheet
Annexure 3: Balance Sheet Particulars (INR Mn) Sep 30, 2026 Mar 31, 2026 Total Shareholder funds 73,899 73,787 Equity Share Capital 961 982 Other Equity 72,938 72,805 Non-Controlling Interest 0 0 Total Debt 5,009 7,586 Long Term Borrowings 3,164 4,592 Short Term Borrowings 1,845 2,994 Lease Liabilit
Slide 31: Annexure 4: ROCE% Calculation
Annexure 4: ROCE% Calculation TTM H1 Particulars (INR Mn) FY2020(1) FY2022(1) FY2023 FY2024 FY2025 FY2026 FY2027 Gross Debt (A) 14,523 15,915 17,927 17,177 14,908 7,586 5,009 Net worth after Adjusting for Merger Goodwill & 33,889 36,993 35,803 37,835 37,111 41,325 41,939 Ind AS 116 (B) (Refer Calcul
Slide 32: Content Lineup
CONTENT LINEUP 3
Slide 33: Content Lineup
Content Lineup INVESTOR UPDATE : Q2 FY’27 32
Slide 34: Content Lineup
Content Lineup INVESTOR UPDATE : Q2 FY’27 33
Slide 35: Content Lineup
Content Lineup INVESTOR UPDATE : Q2 FY’27 34
Slide 36: Content Lineup
Content Lineup INVESTOR UPDATE : Q2 FY’27 35
Slide 37: Content Lineup
Content Lineup INVESTOR UPDATE : Q2 FY’27 36
Slide 38: INVESTOR UPDATE : Q2 FY’27
INVESTOR UPDATE : Q2 FY’27 37