PVR Inox Limited (PVRINOX) AI Stock Analysis

• Market Cap: ₹95.68B
• Dividend Yield: N/A
• Average Volume (3M): 14.13K
• Price to Earnings (P/E): 26.0
• Beta (1Y): 1.20
• Revenue Growth: 11.47%
• EPS Growth: 87.83%
• Country: IN
• Employees: 4,650
• Sector: Services
• Sector Strength: N/A
• Industry: Entertainment
• EPS (TTM): 9.70
• Shares Outstanding: 98,199,960
• 10 Day Avg. Volume: 16,239
• 30 Day Avg. Volume: 14,135
• PEG Ratio: -0.04
• Price to Book (P/B): 1.34
• Price to Sales (P/S): 1.64
• P/FCF Ratio: 5.79
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: ₹1,320.00
• Price Target Upside: 13.96% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): 27.22
• Revenue Forecast (FY): ₹67.96B

• Rating: 60 Neutral
• Price Target: ₹1,023.00 ▼(-11.68% Downside)
• Action: Reiterated Date: 10/21/25
• Date: Action: Reiterated 10/21/25

PVR Inox Limited's stock score is primarily influenced by its mixed financial performance and positive technical indicators. While the company shows strong market momentum, its valuation is hindered by negative earnings. Addressing profitability and leverage issues could improve the stock's attractiveness.

Positive Factors

Diversified revenue streams & scale

A broad revenue mix (ticketing, F&B, advertising, ancillary services) tied to a large multiplex footprint provides durable demand diversification. Scale allows cross-selling, premium format upsell and better ad inventory monetization, reducing reliance on any single revenue source over months.

Strong gross margins

Relatively strong gross margins point to favorable unit economics per patron and effective cost control on variable cinema costs. Sustained margin strength supports operating leverage, underwriting future expansion or premium format investments even if top-line growth is uneven.

Positive operating cash flow generation

Consistent positive operating cash flow and ability to produce free cash flow provide a durable liquidity buffer to service debt, fund screen upgrades and absorb cyclical box-office swings. Good cash conversion reduces immediate refinancing risk and supports strategic investments.

Negative Factors

High leverage

Elevated debt levels constrain financial flexibility and increase interest expense sensitivity. High leverage makes the company more vulnerable to weaker box-office periods or softer ad spend, limiting ability to invest in new sites or absorb longer content slumps without raising capital.

Negative net income and ROE

Persistent net losses and negative ROE undermine shareholder returns and internal funding capacity. Continued unprofitability restricts retained capital for growth, forces reliance on external financing, and weakens the case for long-term reinvestment in premium formats or margin-enhancing initiatives.

Volatile revenue and free cash flow growth

Inconsistent top-line growth and volatile FCF complicate medium-term planning for capex and screen rollouts. Unpredictable cash generation increases forecasting risk, making it harder to time debt repayments and capacity investments without eroding margins during weaker film cycles.

PVR Inox Limited Business Overview & Revenue Model

Company Description

PVR INOX Limited, a theatrical exhibition company, engages in the exhibition, distribution, and production of movies. The company is involved in the in-house advertisement activities; sale of food and beverages; and gaming and restaurant businesses. It operates in India and Sri Lanka. The company was formerly known as PVR Limited and changed its name to PVR INOX Limited in May 2023. PVR INOX Limited was incorporated in 1995 and is based in Gurugram, India.

How the Company Makes Money

PVR Inox makes money primarily by monetizing its cinema network through multiple revenue streams tied to moviegoing and in-cinema brand demand. (1) Box office/ticketing: The company earns revenue from the sale of movie tickets across its cinemas, with realizations influenced by factors such as occupancy, ticket pricing, showtimes, and the mix of premium auditoriums/formats. (2) Food & beverage (F&B): It sells concession items (e.g., snacks and beverages) and may also offer expanded menus in select locations; F&B is typically a significant per-visitor spend driver alongside ticketing. (3) Advertising and on-screen media: The company sells advertising inventory within cinemas (on-screen before/during intervals and off-screen placements such as lobby/standee/digital signage), earning from brand campaigns targeted at theater audiences. (4) Other operating income: Additional revenue can come from sources such as fees related to convenience/booking where applicable, loyalty/ancillary customer programs, auditorium rentals or corporate bookings, and income linked to premium experiences; if the company discloses these, they are generally reported as ancillary/other revenues. Key factors influencing earnings include the volume and performance of film releases (content pipeline), footfalls and occupancy, the mix of premium screens, and commercial arrangements with film distributors and advertisers. Specific partnership names or commercial terms are not available here and are therefore null.

PVR Inox Limited Financial Statement Overview

Summary

PVR Inox Limited shows a mixed financial picture. Strong gross margins and positive operating cash flow are offset by challenges in profitability and high leverage. The company needs to address its net income issues and manage debt levels to improve financial health.

Income Statement

PVR Inox Limited's income statement shows mixed results. The gross profit margin is relatively strong, indicating effective cost management. However, the company has faced challenges with profitability, evident from negative net income in recent years. Revenue growth has been inconsistent, posing challenges for sustainable growth.

Balance Sheet

The balance sheet reflects a moderate financial position. The debt-to-equity ratio is high, indicating potential leverage risks, but the equity ratio shows some financial stability. Return on equity is negative due to net losses, which is a concern for shareholders.

Cash Flow

The cash flow statement shows positive operating cash flow, which is a positive sign for liquidity. The company has managed to generate free cash flow, although growth has been volatile. The ratio of operating cash flow to net income is favorable, suggesting good cash conversion.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	62.59B	57.80B	61.07B	37.51B	13.29B	2.80B
Gross Profit	34.34B	36.28B	38.35B	25.05B	8.67B	1.72B
EBITDA	14.66B	7.17B	10.31B	5.84B	-2.58B	-6.75B
Net Income	-374.00M	-2.80B	-320.00M	-3.35B	-4.88B	-7.48B
Balance Sheet
Total Assets	160.94B	162.62B	168.20B	164.76B	73.26B	75.03B
Cash, Cash Equivalents and Short-Term Investments	6.71B	5.29B	3.90B	3.62B	5.60B	7.15B
Total Debt	74.66B	77.75B	83.03B	80.52B	51.96B	50.03B
Total Liabilities	89.87B	92.09B	94.97B	91.47B	59.56B	56.69B
Stockholders Equity	71.05B	70.52B	73.23B	73.30B	13.70B	18.33B
Cash Flow
Free Cash Flow	10.00B	16.33B	13.45B	2.28B	418.90M	-5.29B
Operating Cash Flow	11.38B	19.67B	19.79B	8.64B	1.67B	-4.13B
Investing Cash Flow	-1.31B	-3.03B	-6.27B	-5.76B	-28.10M	-2.89B
Financing Cash Flow	-8.62B	-15.35B	-12.93B	-6.93B	-2.17B	10.75B

PVR Inox Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 1158.30
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:PVRINOX, the sentiment is Negative. The current price of 1158.3 is above the 20-day moving average (MA) of 1026.41, above the 50-day MA of 1013.26, and above the 200-day MA of 1052.76, indicating a bearish trend. The MACD of -4.54 indicates Positive momentum. The RSI at 39.24 is Neutral, neither overbought nor oversold. The STOCH value of 63.01 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:PVRINOX.

PVR Inox Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
MSTCLTD	64 Neutral	₹29.07B	17.92	―	9.28%	-48.50%	92.06%
PVRINOX	60 Neutral	₹95.68B	26.04	―	―	11.47%	87.83%
HLVLTD	59 Neutral	₹4.79B	21.81	―	―	-3.91%	-69.51%
Sector *	55 Neutral	$13.29B	17.42	10.03%	0.93%	7.13%	-12.93%
STCINDIA	48 Neutral	₹6.14B	11.60	―	―	―	―
NETWORK18	45 Neutral	₹47.93B	-277.61	―	―	-68.47%	-145.26%

PVR Inox Limited Corporate Events

PVR INOX Files Q3 and Nine-Month FY26 Investor Update with Exchanges

PVR INOX Limited has submitted its investor presentation for the third quarter and nine-month period ended 31 December 2025 to the National Stock Exchange of India and BSE, providing an update on its financial and operational performance for FY 2025-26 to shareholders and market participants. The disclosure underscores the company’s ongoing engagement with capital markets and regulatory compliance, ensuring that investors have access to its latest quarterly and year-to-date business information, which can inform assessments of its recovery trajectory, profitability, and strategic direction in the cinema exhibition sector.

PVR INOX Posts Record Post-Pandemic Earnings and Slashes Net Debt as Admissions Rise

PVR INOX Limited reported strong financial and operating performance for the quarter and nine months ended 31 December 2025, with quarterly revenue of INR 19,077 million, EBITDA of INR 3,435 million and profit after tax of INR 1,149 million (excluding Ind AS 116 impact). The quarter saw 40.5 million admissions, up 8.6% year-on-year, alongside higher average ticket prices and food and beverage spend per head, while net debt fell to its lowest level since the merger at INR 3,652 million, reflecting a 74% reduction. For the nine-month period, the company delivered its highest post-pandemic revenue, EBITDA and profit, supported by record admissions and improved yield metrics, and continued its footprint expansion with 62 new screens across 12 cinemas, including a significant push into FOCO and asset-light formats. These results underscore a robust recovery in cinema-going demand, improved profitability, and a balance-sheet strengthening that positions PVR INOX for further growth and greater operating leverage in India’s multiplex exhibition market.

PVR Inox Schedules Investor Meetings at Nuvama India Conference

PVR Inox will field representatives at the in-person Nuvama India Conference 2026 in Mumbai on February 9, engaging investors in both one-on-one and group meetings while confirming that no unpublished price-sensitive information will be disclosed. The appearance under SEBI disclosure norms underscores the exhibitor’s intent to maintain transparent investor relations and keep markets informed of its ongoing engagement with institutional stakeholders.

PVR Inox Sells 4700BC Popcorn Owner Zea Maize to Marico for Rs 226.8 Crore

PVR Inox Limited has approved the divestment of its entire 93.27% stake in subsidiary Zea Maize Private Limited, owner of the gourmet popcorn brand 4700BC, to consumer goods company Marico Limited for Rs 226.8 crore. The business being sold is non-material to PVR Inox, contributing only 1.71% of its FY revenue and 0.42% of net worth, and the transaction, which is not a related-party deal, is expected to close within 30 days subject to customary conditions, marking a strategic exit from a small food subsidiary and allowing PVR Inox to streamline its portfolio while 4700BC transitions to a larger FMCG platform.

PVR INOX Sells 4700BC Snacking Business to Marico for ₹226.8 Crore

PVR INOX Limited has signed definitive agreements to sell its entire stake in its subsidiary Zea Maize Private Limited, owner of the premium snacking brand 4700BC, to Marico Limited for an all-cash consideration of INR 226.8 crore. The divestment, which follows a strategic review, is aimed at unlocking shareholder value, strengthening PVR INOX’s balance sheet, and reallocating capital toward its core cinema exhibition business, with the company stating that the deal will not materially affect its in-cinema food and beverage revenues and is expected to be accretive to profit, free cash flow, and return ratios, while allowing 4700BC to leverage Marico’s FMCG scale, distribution, and innovation capabilities for its next phase of growth.