INOX Leisure — Q3 FY2023 Earnings Presentation
31 slides from INOX Leisure's earnings presentation, Jan 30, 2023
Slide 1: Earnings Presentation Filing Cover Letter
IN LIVE de MOVIE 30th January, 2023 To, BSE Limited National Stock Exchange of India Limited P J Towers, Exchange Plaza, 5th Floor, Plot No C/1, Dalal Street, G Block, Bandra-Kurla Complex, Mumbai – 400 001 Bandra (East), Mumbai – 400 051 Scrip Code: 532706 Symbol: INOXLEISUR Dear Sir / Madam, Sub.:
Slide 2: Results Update Q3 & 9M FY23
RESULTS UPDATE Q3&9M FY23
Slide 3: Disclaimer
THIS PRESENTATION (PRESENTATION) IS NOT AN OFFER TO SELL ANY SECURITIES OR A SOLICITATION TO BUY ANY SECURITIES OF INOX LEISURE LIMITED (THE “COMPANY”) OR ITS SUBSIDIARY (TOGETHER WITH THE COMPANY, THE “GROUP”). The material that follows is a Presentation of general background information about the
Slide 4: Agenda
• INOX PVR Merger Update • Key Highlights • Financial Highlights: Q3&9M FY23 • Shareholding Structure • New Property Openings: Q3 FY23 • Screen Outlook FY23 • Movie Pipeline • Enhanced Audience Outreach & Engagement • Cash Flow Planning • Annexure 3
Slide 5: INOX PVR Merger Update
30th Jan to T T T T 12th Jan 5th Feb 2023 + + + + 2023 10 DAYS 20 DAYS 25 DAYS 30 DAYS [T] NCLT MUMBAI BENCH EXPECTED TIMELINE FILING OF ORDER RECORD DATE FOR CREDIT OF SHARES TRADING OF NEW HAS ALLOWED FOR RECEIPT OF WITH ROC ISSUE OF PVR SHARES OF COMBINED ENTITY SHARES OF THE PROPOSED SCHEME CERT
Slide 6: Key Highlights
KEY HIGHLIGHTS / Q3FY23 Highest Ever 9MFY23 Highest Ever Mi SCREEN ADDITION QTRLY 9 MONTHS IN INDUSTRY FOR SMFY23 ATP 7230 ATP 2226 \ sPH7>707 “i B sPH7 406. a strong POSITION %*230 Cr CASH & CASH EQUIVALENTS ASON 28" JAN, 2023 NET DEBT FREE
Slide 7: Q3 FY23 Revenue, EBITDA and Adj PAT
REVENUE EBITDA* Adj PAT* # Q3 FY23 ₹522CR ₹87CR ₹40CR 1% 19% 22% Q3 FY20 ₹518CR ₹108CR ₹51CR *Excludes Impact of INDAS 116 FY21& FY22 were COVID-19 impacted hence compared with Q3FY20 # To make PAT of Q3FY23 comparable with Q3FY20, following has been added back to PAT of Q3FY23 • ₹43cr of Deferred t
Slide 8: 9M FY23 Revenue, EBITDA and Adj PAT
REVENUE EBITDA* Adj PAT* # 9M FY23 ₹1,492CR ₹220CR ₹92CR 3% 29% 36% 9M FY20 ₹1,538CR ₹308CR ₹144CR *Excludes Impact of INDAS 116 FY21& FY22 were COVID-19 impacted hence compared with 9MFY20 # To make PAT of 9MFY23 comparable with 9MFY20, following has been added back to PAT of 9MFY23 • ₹43cr of Defe
Slide 9: Revenue Breakup Q3 and 9M
REVENUE BREAKUP ~,~,!~~ I · ~ ·· OFf-lC IAl SPONSOI! OF THE INDIAN OLYMPIC TEAM Q3FY20 vs Q3FY23 (₹ Cr) 9MFY20 vs 9MFY23 (₹ Cr) 1,800 1,600 1,538 1,492 104 118 ■ Other Revenues 1,400 144 92 -5% A 13% 522 ■ 518 Advertisement 1,200 42 40 403 425 ■ Net Food & Beverage 1,000 58 35 -40% -36% 151 ■ Net Bo
Slide 10: Q3 Footfalls, Occupancy, ATP, SPH
FOOTFALLS OCCUPANCY% ATP SPH Q3 FY23 153Lakh 23% ₹230 ₹106 9% 4% 13% 31% Q3 FY20 169Lakh 27% ₹204 ₹81 Footfalls with management properties is 160lakh/178lakh for Q3FY23/Q3FY20 respectively FY21& FY22 were COVID-19 impacted hence compared with Q3FY20 9
Slide 11: 9M Footfalls, Occupancy, ATP, SPH
FOOTFALLS OCCUPANCY% ATP SPH 9M FY23 453Lakh 23% ₹226 ₹101 15% 6% 14% 26% 9M FY20 532Lakh 29% ₹199 ₹80 Footfalls with management properties is 474lakh/559lakh for 9MFY23/9MFY20 respectively FY21& FY22 were COVID-19 impacted hence compared with 9MFY20 10
Slide 12: Ind AS 116 Impact on Profit & Loss
IND AS 116 IMPACJ ON PROFIT & LOSS !.:~:!~.L:~:: ~ Q3FY23 Q3FY20 Q2FY23 9MFY23 9MFY20 Consolidated Profit & Loss . . . . . . . . . . . . . . . . . . . . . . ,. . . . . . . . . . . ·1 · .......................... Ind AS 116 Without % Change Vs Without Without Ind AS 116 Without % Change Vs Without [I
Slide 13: Operational Fixed Cost
OPERATIONAL Fl~ED COST ~,~,! ~~ I • ~ •• OFf-lC IAl SPONSOI! OF THE INDIAN OLYMPIC TEAM Employee Benefit Expense Power & Fuel, R&M 250 .0 200 .0 - (Incl. Agency Manpower) Employee Benefit Expense (₹ Cr) 38.0 Per Screen (₹ lacs) 25% 40.0 35.0 200 .0 180 .0 160 .0 140 .0 - Power & Fuel, R&M (₹ Cr) 22.
Slide 14: Distributor Share and F&B Contribution
IN t=:X ~ ~ ~,:,:,:,~~=◊~:, 1,:,,'.DIAN~EAM TEAM l ~DIA DISTRIBUTOR SH.ARE AND F&B CONTRIBUTION Distributor Share to NBOC % F&B Contribution % 80.0% 70. 0% 79.0% 77.4% 60. 0% 77.3% 78.0% 50. 0% 45.3% 43.0% 44.2% 43.6% 77.0% 75.3% 40. 0% 75.2% 76.0% 30. 0% 75.0% 20. 0% 74.0% 10. 0% 73.0% r r 0.0 % 72
Slide 15: Shareholding Structure
SHAREHOLDING ~TRUCTURE ~,~,! ~~ I • ~ •• OFf-lC IAl SPONSOI! OF THE INDIAN OLYMPIC TEAM Market Data As on 27-Jan-23 Share Price Performance No. of Shares Outstanding (Cr) 12.2 700 600 Face Value ( ₹ ) 10.0 500 Price ( ₹ ) 504.40 400 52 week High/Low ( ₹ ) 622.30/380.55 300 200 Market Capitalisation
Slide 16: New Property Opening Q3 FY23
NEW PROPERTY OPENING Q3FY23 / . - , 15 SCREENS I 2452 SEATS CMR MALL, GAJUWAKA CENTRO, YSURU LAILA MALL, VIJAYAWADA RCUBE MONAD MALL, NEW DELHI 3 SCREENS 18D3 SEATS 4 SCREENS 1474 SEATS 3 SCREENS I 959 SEATS 5SCREENS I 216 SEATS OPENED ON 28TH OCTOBER 2022 OPENED ON 25TH NOVEMBER 2022 OPENED ON 21ST
Slide 17: Pan India Presence: Screens Zone Wise
PAN INDIA PRESE,NCE !.:~:!~.L:~:: ~ 18 STATES 1,60,339 & 2 ur11Dr. TERRITORIES PROPERTIES 722 SCREENS SEATS! J&K | 1 Properties | 3 Screens PUNJAB | 3 Properties | 13 Screens UTTAR PRADESH | 13 Properties | 64 Screens SCREENS ZONE WISE DELHI | 7 Properties | 23 Screens JHARKHAND | 2 Property | 8 Scr
Slide 18: Screen Outlook for FY23
SCREEN OUTLOQK FOR FY23 ~,~,! ~~ I • ~ •• OFf-lC IAl SPONSOI! OF THE INDIAN OLYMPIC TEAM FY23 Openings /Upcoming Openings Properties Screens Seats Properties/Cities Opening Date Properties Screens Seats Upto FY22 160 675 1,52,173 Properties Opened FY23 [+]FY23 Openings till date 10 47 8,383 Gurugram
Slide 19: Content Drives Recovery
CONTENT DRIVE,S RECOVERY , , , ' C Q3FY23 AVATAR: THE WAY OF WATER KANTARA PONNIYIN SELVAN: PART I DRISHYAM 2 ₹ 385 Cr* ₹ 310 Cr* ₹ 265 Cr* ₹ 239 Cr* 18 *All India Net Box Office Collection, source: https://www.bollywoodhungama.com , https://www.bollymoviereviewz.com and other industry sources
Slide 20: Upcoming Movie Pipeline
UPCOMING MOVJE PIPELINE ~,~,! ~~ I T ~IA OFf-lC IAl SPONSOI! OF THE INDIAN OLYMPIC TEAM KNOCK AT THE THE WOMAN MICHAEL [Tamil] CABIN KING (IMAX) Cast: Jonathan Cast: Viola Davis, Cast: Vijay Groff, Dave Lashana Lynch, Sethupathi, Sundeep Bautista, Rupert Thuso Mbedu Kishan Grint Director: Director:
Slide 21: Upcoming Movie Pipeline
UPCOMING MOVJE PIPELINE ~,~,! ~~ I T ~IA OFf-lC IAl SPONSOI! OF THE INDIAN OLYMPIC TEAM ANT-MAN AND VAATHI SHAAKUNTALAM THE WASP : (TAMIL) (TELUGU) QUANTUMANIA (IMAX) Cast Dhanush, Cast Samantha Samyuktha Rauth Prabhu, Dev Cast: Paul Rudd, Menon, Sai Kumar Mohan Evangeline Lilly, Kathryn Newton Dire
Slide 22: Upcoming Movie Pipeline
UPCOMING MOVJE PIPELINE ~,~,! ~~ I T ~IA OFf-lC IAl SPONSOI! OF THE INDIAN OLYMPIC TEAM THE SON TU JHOOTHI SHAZAM: FURY 'fhe MAIN MAKKAR OF THE GODS Son Cast: Vanessa Kirby, Hugh Jackman, Cast: Ranbir Kapoor, (IMAX) Laura Dern, William Shraddha Kapoor, Cast: Zachary Levi, Hope Boney Kapoor, Marta Mi
Slide 23: Enhanced Audience Outreach & Engagement
“eo. [RESULTS Oubhauced —~ __ AUDIENCE OUTREACH & ENGAGEMENT
Slide 24: Aggressive Movie Marketing
AGGRESSIVE MOVIE MARKETING . , 23
Slide 25: Alternate Content Innovation
AL TERNATE COblTENT INNOVATION . , . Book you, tidteu on ino.-.O'rie1.com or the IMOX AflPl Ln-. k-.ne at w!Kt _ _,,. COLDPLAY LIVE CONCERT T20 WORLD CUP FIFA WORLD CUP SCREENING LIVE SCREENING LIVE SCREENING 24
Slide 26: Capex Debt Planning
FUND CAPEX DEBT PLANNING • • • ₹ ₹ • • ~₹ • ₹ 25
Slide 27: Annexure
A XU 26
Slide 28: Consolidated Profit & Loss (Including Ind AS 116)
IN t=:X ~ ~ ~,:,:,:,~~=◊~:, 1,:,,'.DIAN~EAM TEAM l ~DIA CONSOLIDATED ~ROFIT & LOSS (INCLUDING INDAS 116) Particulars [ In ₹ Cr] Q3FY23 Q3FY20 Var % Q2FY23 QoQ % 9MFY23 9MFY20 YoY % Total Revenue 522 518 1% 381 37% 1,492 1,538 -3% Exhibition Cost 132 134 -1% 95 39% 386 403 -4% Food & Beverages Cost 3
Slide 29: Track Record of Aggressive Expansion
IN t::X ~ ~ :.:.::.:.;::::.:.'.... ~... TEAM l ~DIA TRACK RECORD QF AGGRESSIVE EXPANSION 722 - screens Properties LO i'- 170 N N t- tO tO N o:::t" tO I'- ll) N 00 en 63 0 tO o:::t" o:::t" N N o:::t" r-- 0 M 16 22 en .-I en I'- r-- M 2 3 M ll) N N N O"l .-I .-I .-I tO en 00 I I I I I'- LO LO LO N N M
Slide 30: Well Diversified Presence Across India
IN t=:X ~ ~ ~,:,:,:,~~=◊~:, 1,:,,'.DIAN~EAM TEAM l ~DIA WELL DIVERSIFIEQ PRESENCE ACROSS INDIA 170 Properties 74 Cities • WELL DIVERSIFIED South, 38, East, 26, 15% South, 18, East, 11, 15% 22% 24% DISTRIBUTION OF MULTIPLEXES ACROSS INDIA West, 23, • ACCESS TO WIDE West, 57, 34% 31% North, 49, VARIET
Slide 31: Results Update Q3 & 9M FY23 Contact
VP — INVEST: NS & BALESH,TALAPADY INOXMOVIES.CO NESS cou | We RESULTS UPDATE Q3&9M FY23 E yi rf