PVR Inox Ltd

PVR Inox Ltd

₹ 1,389 0.46%
23 Feb - close price
About

PVR Limited (PVR) is India’s largest and most premium film exhibition Company. It pioneered the multiplex revolution in India by establishing the first multiplex cinema in 1997 at New Delhi and continue to lead the market with relentless focus on innovation and operational excellence to democratise big‑screen movie experience.

It currently operates a cinema network 854 screens across 74 cities and 173 cinemas with ~1.8 lakh seats. [1]

Key Points

Revenue Breakup (FY22)
The company earns about 52% of revenues from the sale of movie tickets. It also earns revenues from other activities like sale of food & beverages contributed 30% to its revenues, followed by advertisement income (6%), Convenience fees (6%) & other business (6%) [1]

  • Market Cap 13,633 Cr.
  • Current Price 1,389
  • High / Low 1,880 / 1,336
  • Stock P/E
  • Book Value 758
  • Dividend Yield 0.00 %
  • ROCE 3.28 %
  • ROE -7.76 %
  • Face Value 10.0

Pros

  • Company is expected to give good quarter
  • Debtor days have improved from 26.7 to 17.8 days.

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of 9.95% over past five years.
  • Company has a low return on equity of -21.0% over last 3 years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
45 181 59 120 614 536 981 686 940 1,143 1,305 2,000 1,546
124 238 150 188 449 436 640 532 652 879 952 1,293 1,074
Operating Profit -78 -57 -91 -68 165 100 342 154 288 264 352 707 472
OPM % -172% -31% -153% -57% 27% 19% 35% 22% 31% 23% 27% 35% 31%
275 82 33 155 96 43 21 16 20 11 25 24 59
Interest 127 124 124 124 126 125 128 128 127 189 194 200 197
Depreciation 142 146 143 149 154 169 149 153 155 296 291 309 317
Profit before tax -73 -245 -325 -185 -19 -152 85 -110 26 -210 -108 222 18
Tax % 33% -18% 32% 17% 47% 30% 37% 35% 39% -59% 24% 25% 27%
-49 -289 -220 -153 -10 -105 53 -72 16 -334 -82 166 13
EPS in Rs -8.28 -47.58 -36.11 -25.17 -1.67 -17.29 8.74 -11.65 2.63 -34.03 -8.33 16.95 1.30
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
518 806 1,348 1,477 1,850 2,119 2,334 3,086 3,414 280 1,329 3,751 5,994
441 688 1,133 1,271 1,551 1,799 1,933 2,499 2,338 616 1,224 2,703 4,198
Operating Profit 76 119 215 206 299 320 401 587 1,076 -336 105 1,048 1,796
OPM % 15% 15% 16% 14% 16% 15% 17% 19% 32% -120% 8% 28% 30%
10 6 11 2 45 52 30 32 38 469 326 68 118
Interest 18 37 80 78 84 81 84 128 482 498 498 572 780
Depreciation 36 56 94 117 115 138 154 191 542 575 614 753 1,213
Profit before tax 31 32 52 12 145 153 194 299 90 -939 -681 -209 -79
Tax % 18% -39% 4% 7% 32% 37% 36% 37% 70% 20% 28% -61%
25 44 50 12 99 96 124 189 27 -748 -489 -336 -237
EPS in Rs 9.08 10.47 12.71 2.86 19.58 19.08 24.84 37.81 4.95 -123.07 -80.04 -34.20 -24.11
Dividend Payout % 61% 9% 18% 33% 10% 10% 8% 5% 75% 0% 0% 0%
Compounded Sales Growth
10 Years: 17%
5 Years: 10%
3 Years: 3%
TTM: 91%
Compounded Profit Growth
10 Years: %
5 Years: %
3 Years: %
TTM: -115%
Stock Price CAGR
10 Years: 10%
5 Years: -1%
3 Years: 0%
1 Year: -13%
Return on Equity
10 Years: -7%
5 Years: -13%
3 Years: -21%
Last Year: -8%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 26 40 41 42 47 47 47 47 51 61 61 98 98
Reserves 257 603 358 368 835 918 1,029 1,449 1,429 1,773 1,309 7,232 7,337
203 657 613 747 660 820 831 1,282 5,066 5,003 5,196 8,052 8,155
126 287 340 273 356 440 442 1,062 881 665 757 1,091 1,421
Total Liabilities 613 1,586 1,352 1,429 1,897 2,225 2,348 3,840 7,428 7,502 7,323 16,473 17,011
273 996 820 860 1,000 1,509 1,590 2,742 5,886 5,475 5,407 14,209 14,387
CWIP 88 145 107 80 76 106 102 221 155 217 64 247 248
Investments 1 38 24 2 2 2 21 11 2 1 0 0 0
252 407 402 486 820 609 636 866 1,385 1,808 1,851 2,017 2,376
Total Assets 613 1,586 1,352 1,429 1,897 2,225 2,348 3,840 7,428 7,502 7,323 16,473 17,011

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
49 119 230 155 354 320 446 830 787 -413 167 864
-103 -805 -118 -205 -331 -632 -363 -1,006 -390 -289 -3 -339
0 729 -122 49 217 60 -66 142 -211 1,075 -217 -694
Net Cash Flow -54 43 -10 -1 240 -252 18 -34 186 374 -53 -169

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 19 19 14 19 18 18 24 22 20 40 22 18
Inventory Days 84 43 60 50 45 46 42 354
Days Payable 530 520 502 515 576 562 432 2,879
Cash Conversion Cycle -426 19 14 -458 -424 -448 -506 -494 -370 -2,485 22 18
Working Capital Days -49 -69 -72 -43 -41 -40 -53 -72 -50 -649 -109 -55
ROCE % 9% 7% 10% 8% 17% 14% 15% 18% 12% -7% -3% 3%

Shareholding Pattern

Numbers in percentages

17 Recently
Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
17.06% 17.06% 17.04% 17.02% 17.01% 16.99% 16.97% 16.94% 27.46% 27.62% 27.84% 27.84%
42.60% 38.19% 37.83% 31.91% 33.31% 36.56% 36.40% 42.00% 31.20% 26.83% 23.26% 21.83%
24.50% 26.39% 26.00% 28.28% 27.45% 26.19% 27.02% 24.99% 30.20% 33.15% 37.19% 39.22%
15.84% 18.36% 19.13% 22.79% 22.23% 20.26% 19.61% 16.08% 11.14% 12.42% 11.72% 11.10%
No. of Shareholders 1,64,8941,76,3071,68,0641,96,4381,53,8431,39,8281,47,3461,34,9101,98,0172,11,2311,95,7052,02,024

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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