Pvr Inox Limited · NSE:PVRINOX
Pvr Inox — Q3 FY2024 Earnings Presentation
29 slides from Pvr Inox's earnings presentation, Jan 31, 2024
Slide 1: Quarter 3 Investor Presentation filing letter
31st January, 2024 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: 022-2659
Slide 2: Investor Update: Q3 & 9M FY'24
INVESTOR UPDATE : JANUARY 31st, 2024 Q3 & 9M FY’24
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 Box Office Update 9 Result Summary 12 Growth Update 18 Content Pipeline 21 INVESTOR UPDATE : Q3 & 9M FY’24 4
Slide 6: Preamble
Preamble PVR INOX merger became effective from 6th February 2023 vide order of NCLT Mumbai. For a like to like comparison of Q3 & 9M FY’24 financials, previous year numbers are being presented on a Proforma basis for PVR + INOX. Previous period figures have been regrouped and rearranged wherev
Slide 7: Key Highlights: Financial Parameters (1/3)
Key Highlights : Financial Parameters (1/3) EBITDA & (in INR Mn) TOTAL INCOME EBITDA MARGIN PAT Q3, FY’24 15,693 2,259 14.4% 412 Q3, FY’23 (1) 14,744 2,278 15.5% 36 9M, FY’24 49,133 7,735 15.7% 2,045 9M, FY’23 (1) 41,458 5,823 14.0% 675 (1) FY’23 numbers are Proforma for the combined entity PVR INOX
Slide 8: Key Highlights: Operating Parameters (2/3)
Key Highlights : Operating Parameters (2/3) ADMITS (Mn) ATP (INR) SPH (INR) Q3, FY’24 36.5 (-2%) 271 (+14%) 132 (+8%) Q3, FY’23 (1) 37.1 238 122 9M, FY’24 118.8 (+8%) 266 (+13%) 133 (+11%) 9M, FY’23 (1) 110.0 235 120 (1) FY’23 numbers are Proforma for the combined entity PVR INOX INVESTOR UPDATE : Q
Slide 9: Key Highlights: Ad Income (3/3)
Key Highlights : Ad Income (3/3) (in INR Mn) 1,405 1,176 893 Q1 FY'24 Q2 FY'24 Q3 FY'24 Consistent QoQ recovery witnessed in Ad income INVESTOR UPDATE : Q3 & 9M FY’24 8
Slide 10: India Box Office in CY2023 has surpassed its pre-covid peak
India Box Office in CY2023 has surpassed its pre-covid peak (In USD Bn) Charts shown below are not to scale 42.3 -20% 11.4 -20% 33.9 9.3 -17% 9.1 7.7 +12% -34% 1.3 1.5 1.5 1.0 2019 2023 2019 2023 2019 2023 2019 2023 2019 2023 GLOBAL BOX OFFICE Indian Box Office amongst the fastest to recover globall
Slide 11: Q3 FY'24 Box Office Performance
Q3 FY’24 Box Office Performance 1st half of the quarter impacted due to cricket World Cup …however, Dec’23 was the highest grossing month of 2023 41% drop in no. of releases in Q3 FY’24 vs Q3 FY’23 352 -41% 209 295 Regional ANIMAL (Hindi) 162 English 2,259 | 6,267 Hindi 2nd HIGHEST GROSSING 17 16 HI
Slide 12: Top 5 movies in Q3 FY'24
Top 5 movies in Q3 FY’24 PVR INOX GBOC | India GBOC(1) (INR Mn) HINDI ANIMAL TIGER 3 DUNKI SAM BAHADUR 12th FAIL 2,259 | 6,267 1,008 | 3,395 871 | 2,263 531 | 1,115 364 | 657 ENGLISH AQUAMAN 2 TAYLOR SWIFT : ERA’S TOUR THE MARVELS THE EXORCIST : BELIEVER WONKA 126 | 196 93 | 125 86 | 144 59 | 123 49
Slide 13: Result Summary (Consolidated) – Q3, FY'24 vs Q3, FY'23
Result Summary (Consolidated) – Q3, FY’24 vs Q3, FY’23 Q3, FY’24 Q3, FY’23(1) Particulars (INR Mn) Ind-AS 116 Ind-AS 116 Ind-AS 116 Ind-AS 116 Reported Proforma Impact Adjusted Impact Adjusted Total Income 16,047 354 15,693 14,816 72 14,744 Expenses 10,735 -2,699 13,434 9,967 -2,499 12,466 EBITDA 5,
Slide 14: Result Summary (Consolidated) – 9M, FY'24 vs 9M, FY'23
Result Summary (Consolidated) – 9M, FY’24 vs 9M, FY’23 9M, FY’24 9M, FY’23(1) Particulars (INR Mn) Ind-AS 116 Ind-AS 116 Ind-AS 116 Ind-AS 116 Reported Proforma Impact Adjusted Impact Adjusted Total Income 49,582 449 49,133 41,563 105 41,458 Expenses 33,190 -8,208 41,398 28,297 -7,337 35,635 EBITDA
Slide 15: Key Operating Numbers
Key Operating Numbers For the purpose of comparing Q3 & 9M FY’24 operating & financial numbers, proforma PVR INOX numbers have been presented for the corresponding period in FY’23 Particulars Units Q3, FY’24 Q3, FY’23 9M, FY’24 9M, FY’23 Reported PVR + INOX YoY Change (%) Reported PVR + INOX YoY Cha
Slide 16: Revenue Analysis
Revenue Analysis Particulars (INR Mn) Q3, FY’24 Q3, FY’23 9M, FY’24 9M, FY’23 Screens (1) 1,708 1,604 6% 1,708 1,604 6% Reported PVR + INOX YoY Change (%) Reported PVR + INOX YoY Change (%) Financials (A) Proforma (B) (A / B-1) (A) Proforma (B) (A / B-1) Sale of Movie Tickets 8,308 7,309 14% 26,446
Slide 17: Expense Analysis
Expense Analysis Particulars (INR Mn) Q3, FY’24 Q3, FY’23 9M, FY’24 9M, FY’23 Screens (1) 1,708 1,604 6% 1,708 1,604 6% Reported PVR + INOX YoY Change (%) Reported PVR + INOX YoY Change (%) Variable Cost (A) Proforma (B) (A / B-1) (A) Proforma (B) (A / B-1) FHC (%) 46.9% 45.0% 189 bps 46.3% 45.2% 11
Slide 18: Debt & Cash position
Debt & Cash position INR Mn Net Debt 14,309 11,033 12,121 Cash 3,618 5,815 3,960 17,927 16,848 Gross Debt 16,081 31 Mar'23 30 Sep'23 31 Dec'23 Reduced Gross Debt by INR 1,846 mn over 9 month FY’24 INVESTOR UPDATE : Q3 & 9M FY’24 17
Slide 19: Growth
ee atl GROWTH
Slide 20: Net Screen Additions
Net Screen Additions Screens Opened in Q3 FY’24 Screen Opening Summary 9M FY’24 # Property name Opening Date Screens Net Screen Addition in 9M FY’24 Screens 1. PVR Elan Mercado, Gurgaon 27-Oct-23 5 New Screens Opened 97 2. PVR Utkal Galleria Mall, Bhubaneswar 12-Nov-23 4 3. INOX Maison, Jio World Ce
Slide 21: Diversified Screen Network of 1,712 Screens across 113 Cities
Diversified Screen Network of 1,712 Screens across 113 Cities PUNJAB JAMMU & KASHMIR 16 cinemas | 83 screens 2 cinemas | 5 screens East CHANDIGARH UTTARAKHAND 3 cinemas | 15 screens 2 cinemas | 10 screens HARYANA UTTAR PRADESH 8% 22 cinemas | 88 screens 31 cinemas | 154 screens SOUTH (1) DELHI JHARK
Slide 22: Content Lineup
) < va. ~ > is L » »* 7 ‘ x Wha v ~ eet . aa ' _ q — Sues Be - g ~ > oes B . ji 7. _ — - re! wy y\ ~~ >> me ea — |, = 1 = a \ (eee Vee = = a ~ = + ~ S SF * = SSS \ z S34 > SS, | . = <= LINEUP
Slide 23: Content Lineup
Content Lineup The latest content lineup can also be accessed at : https://www.pvrcinemas.com/coming-soon-movie-calender INVESTOR UPDATE : Q3 & 9M FY’24 22
Slide 24: Content Lineup
Content Lineup The latest content lineup can also be accessed at : https://www.pvrcinemas.com/coming-soon-movie-calender INVESTOR UPDATE : Q3 & 9M FY’24 23
Slide 25: Content Lineup
Content Lineup The latest content lineup can also be accessed at : https://www.pvrcinemas.com/coming-soon-movie-calender INVESTOR UPDATE : Q3 & 9M FY’24 24
Slide 26: Content Lineup
Content Lineup The latest content lineup can also be accessed at : https://www.pvrcinemas.com/coming-soon-movie-calender INVESTOR UPDATE : Q3 & 9M FY’24 25
Slide 27: Content Lineup
Content Lineup The latest content lineup can also be accessed at : https://www.pvrcinemas.com/coming-soon-movie-calender INVESTOR UPDATE : Q3 & 9M FY’24 26
Slide 28: Content Lineup
Content Lineup The latest content lineup can also be accessed at : https://www.pvrcinemas.com/coming-soon-movie-calender INVESTOR UPDATE : Q3 & 9M FY’24 27
Slide 29: Investor Update: Q3 & 9M FY'24
The latest content lineup can also be accessed at : https://www.pvrcinemas.com/coming-soon-movie-calender INVESTOR UPDATE : Q3 & 9M FY’24 28