Pvr Inox Limited · NSE:PVRINOX
Pvr Inox — Q1 FY2024 Earnings Presentation
33 slides from Pvr Inox's earnings presentation, Aug 1, 2023
Slide 1: Exchange filing cover letter: Q1 FY24 Investor Presentation
1st August, 2023 National Stock Exchange of India Limited BSE Limited Exchange Plaza, 5th Floor, Corporate Relationship Department Plot No. C/1, G Block, 1st Floor, New Trading Ring, Bandra Kurla Complex, PJ Towers, Dalal Street, Bandra (East), Mumbai - 400 051 Fort, Mumbai - 400 001 Fax: 022-265982
Slide 2: Investor Update Q1 FY'24
INVESTOR UPDATE Q1 FY‘24 August 1st , 2023
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 Particulars Slide No. Key Highlights 6 Result Summary 9 Growth Update 21 Content Pipeline 27 INVESTOR UPDATE : Q1 FY’24 4
Slide 6: Preamble
Preamble The Hon’ble National Company Law Tribunal (‘NCLT’), Mumbai Bench on 12th January, 2023 approved the ‘Scheme of Amalgamation’ between INOX Leisure Limited and PVR Limited. The scheme became effective from 6th February 2023. The Appointed date for the merger was 1st January, 2023. Consequ
Slide 7: Key Highlights
Key Highlights (in INR Mn) TOTAL INCOME EBITDA PAT Q1, FY’24 13,244 1,003 - 441 Q1, FY’23* 15,896 3,383 1,424 * These are Proforma numbers for the combined entity PVR INOX Note: Above financial numbers are after excluding the impact of Ind AS 116 – ‘Leases’ INVESTOR UPDATE : Q1 FY’24 6
Slide 8: Diversified screen network of 1,707 screens
Diversified screen network of 1,707 screens 114 cities PUNJAB JAMMU & KASHMIR 15 cinemas | 76 screens 2 cinemas | 5 screens East CHANDIGARH UTTARAKHAND 3 cinemas | 15 screens 2 cinemas | 10 screens HARYANA UTTAR PRADESH 8% 22 cinemas | 85 screens 32 cinemas | 158 screens SOUTH* DELHI JHARKHAND 26 ci
Slide 9: Premium / Special Formats
Premium / Special Formats 229 Screens 129 19 31 3 17 3 2 7 18 • Experience • Immersive • Specially • 4K projection • Equipped • 270-degree, • offering a • Premium • Colorful décor luxury at its movie designed and superior with extra - panoramic projector-less movie and playful best. experience motio
Slide 10: Result Summary (Consolidated) – Q1, FY'24 vs Q1, FY'23
Result Summary (Consolidated) – Q1, FY’24 vs Q1, FY’23 (INR Mn) Q1, FY’24 Q1, FY’23* Particulars Ind-AS 116 Ind-AS 116 Ind-AS 116 Ind-AS 116 Reported Proforma* Impact Adjusted Impact Adjusted Total Income 13,298 54 13,244 15,915 19 15,896 Expenses 9,524 -2,717 12,241 10,114 -2,399 12,513 EBITDA 3,77
Slide 11: Key Operating Numbers
Key Operating Numbers For the purpose of comparing Q1 FY’24 operating & financial numbers, proforma PVR INOX numbers have been presented for the corresponding quarter in FY’23 Particulars Units Q1, FY’24 Q4, FY’23 Q1, FY’23 QoQ Change (%) PVR + INOX YoY Change (%) Operating Numbers Reported (A) Repo
Slide 12: Quarterly Key Operating Metrics – PVR INOX
Quarterly Key Operating Metrics – PVR INOX 10,467 KGF 2 / RRR 2,988 GBOC 8,790 8,303 (INR Mn) 7,478 7,263 6,481 Q1 FY'23 Q2 FY'23 Q3 FY'23 Q4 FY'23 Q1 FY'24 43.4 Admits KGF 2 / RRR 11.9 (Mn) 31.5 29.6 37.1 30.5 33.9 +2% ATP (INR) 241 246 SPH (INR) +10% 130 118 Despite volatility in Box office, stead
Slide 13: YoY Change in Language Mix – PVR INOX
YoY Change in Language Mix – PVR INOX 23% 29% 35% 39% 28% 24% 14% 7% Q1 FY’23 Q1 FY’24 GBOC : INR 10,467 mn GBOC : INR 8,303 mn Market share for Hindi and Hollywood significantly higher than last year INVESTOR UPDATE : Q1 FY’24 12
Slide 14: Hollywood Box Office surges with Q-o-Q rebound
Hollywood Box Office surges with impressive Q-o-Q rebound Significant benefit for PVR INOX due to higher presence in Metros & Tier 1 markets. India GBOC of Hollywood films No. of Movies released* have increased significantly QoQ* increased steadily from Q1 FY’23 GBOC +69% +59% INR Mn 4,300 27 24 2,5
Slide 15: Hollywood films strong performance continues
Hollywood films strong performance continues Weekend Box Office: BARBIE and OPPENHEIMER Oppenheimer, Barbie, Mission Impossible 7 collect Combine for Fourth Highest-Earning Domestic ₹78 crore in weekend; Hollywood films rule Indian Weekend of All-Time, Best Summer Weekend on Box Office Record Source
Slide 16: Regional Box Office demonstrates resilient performance
Regional Box Office demonstrates resilient performance India GBOC of Regional Movies (INR mn)* PVR INOX GBOC of Regional Movies (INR mn) INDIA PERFORMANCE REGIONAL MOVIES +5% 12,899 10,815 2,293 2,411 Q4 FY'23 Q1 FY'24 Q4 FY'23 Q1 FY'24 Q1 FY’24 – PVR INOX TOP 5 MOVIES IN Ponniyin Selvan 2 Adipurush
Slide 17: Regional Box office performing well across languages
Regional Box office performing well across languages PUNJABI MARATHI TAMIL TELUGU Carry on Jatta 3 Baipan Bhari Deva Maaveran Baby (Released on 29/6/23) (Released on 30/6/23) (Released on 14/7/23) (Released on 14/7/23) Upcoming Regional Films Jailer Bhola Shankar King of Kotha Salaar Kushi Leo (Tami
Slide 18: Hindi Box Office Performance
Hindi Box Office Performance Q4 FY’23 Q1 FY’24 PVR INOX GBOC 3,926 3,875 (INR Mn) India GBOC* 9,285 8,179 Top 5 movies for PVR INOX Top 5 movies for PVR INOX PVR INOX GBOC India GBOC PVR INOX GBOC India GBOC 1,024 The Kerala 2,269 Pathaan 6,579 2,619 Story Tu Jhoothi Adipurush 663 1,585 584 1,609 Ma
Slide 19: Revenue Analysis
Revenue Analysis Particulars (INR Mn) Q1, FY’24 Q4, FY’23 Q1, FY’23 Screens* 1,697 1,680 1% 1,550 9% Reported Reported QoQ Change (%) PVR + INOX YoY Change (%) Financials (A) (B) (A /B-1) Proforma (C) (A /C-1) Sale of Movie Tickets 6,945 6,016 15% 8,828 -21% Sale of Food & Beverages 4,277 3,520 22%
Slide 20: Expense Analysis
Expense Analysis Particulars (INR Mn) Q1, FY’24 Q4, FY’23 Q1, FY’23 Screens* 1,697 1,680 1% 1,550 9% Reported Reported QoQ Change (%) PVR + INOX YoY Change (%) Variable Cost (A) (B) (A /B-1) Proforma (C) (A /C-1) FHC (%) 45.7% 46.9% -120 bps 45.6% +10 bps COGS (%) 25.0% 26.4% -140 bps 23.1% +190 bps
Slide 21: Debt & Liquidity Position
Debt & Liquidity Position Net Debt 15,073 14,309 INR Mn 4,381 3,618 19,454 17,927 30 June'23 31 Mar'23 Gross Debt Cash & Cash Equivalents INVESTOR UPDATE : Q1 FY’24 20
Slide 22: Investor Update: Q1 FY'24
INVESTOR UPDATE : Q1 FY’24
Slide 23: Net Screen Additions
Net Screen Additions S. No New Properties opened in Q1 FY’24 Opening Date Screens Region 1. INOX NCS Square, Guwahati 16-Apr-23 3 East 2. INOX Vishal Cinemas, Delhi 1-May-23 6 North 3. PVR Global Mall, Bangalore 4-June-23 7 South 4. INOX Pacific Mall, Jasola, Delhi 30-June-23 10 North 5. PVR Satyame
Slide 24: INOX Vishal Enclave, Rajouri Garden, Delhi – 6 Screens
INOX VISHAL ENCLAVE, RAJOURI GARDEN, DELHI – 6 SCREENS (1 IMAX & 1 MX4D)
Slide 25: INOX Pacific Mall, Jasola, Delhi – 10 Screens
INOX PACIFIC MALL, JASOLA, DELHI – 10 SCREENS (1 INSIGNIA, 1 MX4D, 1 BIGPIX, 1 SCREENX)
Slide 26: PVR DLF Mall of India, Noida – 7 Screens
PVR DLF MALL OF INDIA, NOIDA – 7 SCREENS (1 IMAX, 1 4DX, 1 P[XL]) – (Renovated)
Slide 27: PVR Global Mall, Bengaluru – 7 Screens
PVR GLOBAL MALL, BENGALURU – 7 SCREENS (1 4DX)
Slide 28: Content Lineup
Content Lineup
Slide 29: Content Lineup
Content Lineup The latest content lineup can also be accessed at : https://www.pvrcinemas.com/coming-soon-movie-calender INVESTOR UPDATE : Q1 FY’24 28
Slide 30: Content Lineup
Content Lineup The latest content lineup can also be accessed at : https://www.pvrcinemas.com/coming-soon-movie-calender INVESTOR UPDATE : Q1 FY’24 29
Slide 31: Content Lineup
Content Lineup The latest content lineup can also be accessed at : https://www.pvrcinemas.com/coming-soon-movie-calender INVESTOR UPDATE : Q1 FY’24 30
Slide 32: Content Lineup
Content Lineup The latest content lineup can also be accessed at : https://www.pvrcinemas.com/coming-soon-movie-calender INVESTOR UPDATE : Q1 FY’24 31
Slide 33: Content Lineup
The latest content lineup can also be accessed at : https://www.pvrcinemas.com/coming-soon-movie-calender INVESTOR UPDATE : Q1 FY’24 32