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PVR Inox Ltd - Stock Valuation and Financial Performance

BSE: 532689 | NSE: PVRINOX | Film Production, Distribution & Entertainment | Small Cap

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PVR Share Price

 ₹958.50 -33.15 -3.34%
as on 20-May'25 12:03

DeciZen - make an informed investing decision on PVR

Overall Rating ⓘ
Bole Toh

1. Quality

Somewhat Good
Check detailed 10 Yrs performace

2. Valuation ⓘ

Somewhat Undervalued
Check 10 Yrs Valuation charts

3. Price Trend

Semi Strong
Check Price chart

PVR Inox stock performance -

PE Chart Key Ratios
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P/E Ratio (SA):
0.00
Market Cap:
9,738 Cr.
52-wk low:
825.7
52-wk high:
1,748.3

Is PVR Inox Ltd an attractive stock to invest in?

1. Is PVR Inox Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that PVR Inox Ltd is a average quality company.

2. Is PVR Inox Ltd undervalued or overvalued?

The key valuation ratios of PVR Inox Ltd's currently when compared to its past seem to suggest it is in the Somewhat Undervalued zone.

3. Is PVR Inox Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of PVR Inox Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of PVR:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Standalone Basis P Consolidated Basis P
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
PVR Inox Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation ⓘ

Value Creation Index Colour Code Guide ⓘ

Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24TTM
ROCE % ⓘ8.4%16.8%13.8%15%18.4%20.9%-14.1%-5.9%6%8.1%-
Value Creation
Index ⓘ		-0.40.20.00.10.40.6-2.1-1.4-0.6-0.4-

Growth Parameters ⓘ

Growth Parameters Colour Code Guide ⓘ

Sales ⓘ1,3841,7202,0022,2463,0393,2842261,2133,5595,8975,442
Sales YoY Gr.-24.3%16.4%12.2%35.3%8.1%-93.1%437.5%193.3%65.7%-
Adj EPS ⓘ4.422.321.125.640.25.5-119-78.5-33.4-3.7-28.2
YoY Gr.-409.6%-5.1%21.3%56.7%-86.4%-2275.3%NANANA-
BVPS (₹) ⓘ93.8182200.2221.3308.8278.8301.5225.7747.7745.8720
Adj Net
Profit ⓘ		18.510610112219128.6-723-479-327-36.6-277
Cash Flow from Ops. ⓘ145334332401839819-4101249031,991-
Debt/CF from Ops. ⓘ5.222.52.11.51.6-3.312.120.9-

CAGR ⓘ

CAGR Colour Code Guide ⓘ

9 Years 5 Years 3 Years 1 Years
Sales ⓘ17.5%14.2%196.7%65.7%
Adj EPS ⓘ-198.3%-162.2%NANA
BVPSⓘ25.9%19.3%35.2%-0.3%
Share Price 4.1% 2.6% -19.3% -27.7%

Key Financial Parameters ⓘ

Performance Ratio Colour Code Guide ⓘ

Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24TTM
Return on
Equity % ⓘ		4.716.811.112.215.12-43.8-29.7-7.5-0.5-3.9
Op. Profit
Mgn % ⓘ		13.415.814.617.11932.4-148.48.529.130.228.2
Net Profit
Mgn % ⓘ		1.36.255.46.30.9-320.3-39.5-9.2-0.6-5.1
Debt to
Equity ⓘ		1.90.80.90.80.90.90.71.10.20.20.1
Working Cap
Days ⓘ		10395868380901,216200896630
Cash Conv.
Cycle ⓘ		-39-31-29-30-34-25112-33-31-27-53

Recent Performance Summary

Sales growth is growing at healthy rate in last 3 years 196.73%

Debt to equity has declined versus last 3 years average to 0.23

Return on Equity is Poor

Sales growth is not so good in last 4 quarters at -6.56%

Latest Financials - PVR Inox Ltd.

Standalone Consolidated
TTM EPS (₹) -28.2 -28.5
TTM Sales (₹ Cr.) 5,442 5,780
BVPS (₹.) ⓘ 720 718.1
Reserves (₹ Cr.) ⓘ 6,973 6,953
P/BV ⓘ 1.38 1.38
PE ⓘ 0.00 0.00
From the Market
52 Week Low / High (₹) 825.65 / 1748.25
All Time Low / High (₹) 56.46 / 2211.55
Market Cap (₹ Cr.) 9,738
Equity (₹ Cr.) 98.2
Face Value (₹) 10
Industry PE ⓘ 38.6

Management X-Ray of PVR:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *6.312.444.214.174.175.275.865.935.9310.17
* Pledged shares as % of Promoter's holding (%)

Valuation of PVR

Event Update

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Analyst's Notes

PVR Inox Ltd: Result Update - Q2 FY24 - 20 Oct 2023

 

Particulars

Q2FY24

YoY Trend

Comments

Revenue

2,000

Not applicable

Higher occupancy (32% vs. 21% YoY), 25% growth in the average ticket price, and blockbuster movies led to strong revenue growth
EBITDA

707

NA

 
EBITDA Margin

35%

NA

Synergy benefits observed
PAT

166

NA

 

PVR INOX merger became effective from 6th February 2023 vide order of NCLT Mumbai, so historical numbers can’t be compared. Good results on higher occupancy. The company paid off ~Rs 328 Cr debt (Rs. 1,103 Cr outstanding debt) and expects to be free cash flow positive for FY24.

 

PVR: Quarterly Result update - 22 Oct 2019

Results: PVR reported a better than expected growth of 37% in sales year on year. Operating profit increased 156% year over year. 

Sales growth was attributable to:-

    - During this quarter, major blockbusters hit were Super 30, Batla House and Saahu. Along with Indian movies, some Hollywood movies also performed well. This helped healthy footfalls in theatres.

     - Acquisition of SPI, a theatre chain which has strong hold in South India.

     - Increase in food and beverage business and advertisement.

     - The company has added 42 screens year to date (reaching a total of 800 screens). 

Operating margins expanded because:-

     - Food and beverage and advertisement share rose in the sales mix. And both are high margin business.

     - Change in accounting regulation

    - The newly added stores since past financial years have started contributing to the operating profit. However, margins could still be depressed at this level due to ongoing screen addition.

Outlook: The management expects growth by adding screens including smaller format multiplex like PVR Utsav Tier 2, Tier 3 cities; Increase in sales from Food and Beverages; and rising advertisement sales. PVR ties up with mall developers to open multiplex in new premises. This provides mutual benefit to both the companies, lessor and lessee. Movies have become one of the important source of entertainment and experience. With limited avenues of entertainment in urban India, large number of movie releases per year, we believe PVR is a structural growth story.  

We are monitoring the stock and might add it into our buy zone when it trades at attractive valuations.

 

Key Ratios of PVR

Standalone Basis Consolidated Basis

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
Standalone Basis Consolidated Basis
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Sales1,3841,7202,0022,2463,0393,2842261,2133,5595,897
Operating Expenses ⓘ 1,2031,4561,7161,8632,4652,2215611,1102,5234,115
Manufacturing Costs5887028239041,166508193308613987
Material Costs1001161321552352591899292475
Employee Cost 129169205242327382207252419630
Other Costs ⓘ 3864695565627371,0721434511,1992,025
Operating Profit ⓘ 1812652863835741,063-3361031,0361,782
Operating Profit Margin (%) 13.1%15.4%14.3%17.0%18.9%32.4%-148.0%8.5%29.1%30.2%
Other Income ⓘ 11706932334547931377163
Interest ⓘ 76838083128480493494569788
Depreciation ⓘ 100991221411825335635947411,205
Exceptional Items ⓘ -2-11-5-10000-110
Profit Before Tax ⓘ 1414214719029895-914-671-207-48
Tax ⓘ 049546910865-190-193126-13
Profit After Tax 14949312119030-724-478-333-36
PAT Margin (%) 1.0%5.4%4.6%5.4%6.3%0.9%-320.0%-39.4%-9.4%-0.6%
Adjusted EPS (₹)3.219.719.525.539.95.8-119.0-78.4-34.0-3.6
Dividend Payout Ratio (%)30%10%10%8%5%68%0%0%0%0%

Balance Sheet

(All Figures are in Crores.)
Standalone Basis Consolidated Basis
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24

Equity and Liabilities

Shareholders Fund 3978659531,0531,4701,4581,8321,3777,3287,317
Share Capital ⓘ 42474747475161619898
Reserves ⓘ 3558199061,0061,4231,4071,7711,3167,2307,218
Minority Interest0000000000
Debt6785727296601,1021,0991,0991,0931,4921,254
Long Term Debt6315726055621,0199139801,0331,2721,047
Short Term Debt470124998318611960220206
Trade Payables143165182235356293189291487638
Others Liabilities ⓘ 1471612353288694,2803,9343,9456,6497,094
Total Liabilities ⓘ 1,3651,7632,1002,2763,7977,1307,0556,70715,95516,302

Fixed Assets

Gross Block1,2009741,6391,9183,2186,7646,9227,45416,96818,181
Accumulated Depreciation428702183545109941,5502,1212,8273,768
Net Fixed Assetsⓘ 7729041,4211,5632,7095,7705,3725,33214,14114,413
CWIP ⓘ 505510510221315521764247246
Investmentsⓘ 8186755158626396148225
Inventories11191719292923316064
Trade Receivables6882881371721712071158208
Cash Equivalents 12240182327320722567337353
Others Assetsⓘ 372379376382590623638544865794
Total Assets ⓘ 1,3651,7632,1002,2763,7977,1307,0556,70715,95516,302

Cash Flow

(All Figures are in Crores.)
Standalone Basis Consolidated Basis
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Cash Flow From Operating Activity ⓘ 145334332401839819-4101249031,991
PBT ⓘ 1414214719029895-914-671-207-48
Adjustment ⓘ 1931902082233059745797851,2531,883
Changes in Working Capital ⓘ -5621728317-221-813-143122
Tax Paid ⓘ -6-18-31-40-81-3068034
Cash Flow From Investing Activity ⓘ -208-303-643-315-1,021-418-29937-629-671
Capex -162-219-622-313-409-345-116-124-627-620
Net Investments -37-515017-20-16910049-1
Others ⓘ -9-33-70-19-610-73-1460-51-49
Cash Flow From Financing Activityⓘ 5819460-66143-2101,076-216-692-1,286
Net Proceeds from Shares ⓘ 73531005041,093183119
Net Proceeds from Borrowing ⓘ 139-433436312-67108213-37-60
Interest Paid ⓘ -75-78-73-80-103-115-98-124-145-177
Dividend Paid ⓘ -12-5-12-11-11-360000
Others ⓘ 0-33109-10-56-496-28-323-541-1,068
Net Cash Flow ⓘ -5226-25120-39190367-55-41934

Finance Ratio

Standalone Basis Consolidated Basis
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Ratios
ROE (%)3.4714.8210.2212.1115.072.06-43.98-29.81-7.65-0.49
ROCE (%)8.416.8413.7714.9518.3620.87-14.14-5.856.018.13
Asset Turnover Ratio1.071.11.041.0310.60.030.180.310.37
PAT to CFO Conversion(x)10.363.553.573.314.4227.3N/AN/AN/AN/A
Working Capital Days
Receivable Days151616181919154141211
Inventory Days33333342854
Payable Days5324834794924594574,806890487433

PVR Inox Ltd Stock News

PVR Inox Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of PVR on 20-May-2025 12:03 is ₹958.5.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 20-May-2025 12:03 the market cap of PVR stood at ₹9,738.
The latest P/E ratio of PVR as of 20-May-2025 12:03 is 0.00.
The latest P/B ratio of PVR as of 20-May-2025 12:03 is 1.38.
The 52-week high of PVR is ₹1,748.3 and the 52-week low is ₹825.6.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of PVR is ₹5,442 ( Cr.) .

About PVR Inox Ltd

PVR Ltd is the market leader in terms of screen count in India. Since 1997, the brand has redefined the cinema industry and the way people watch movies in the country. The company has, over the years, consistently added screens, both organically and inorganically, through strategic investments and acquisitions which includes ‘Cinemax Cinemas’ in November 2012, ‘DT Cinemas’ in May 2016 and ‘SPI Cinemas’ in August 2018.

The company offer a diversified cinema viewing experience through our formats, including ‘PVR Director’s Cut’, ‘PVR Gold Class’, ‘PVR IMAX’, ‘PVR Superplex’, ‘PVR P(XL)’, ‘PVR Playhouse’, ‘PVR ECX’, ‘PVR Premiere’, ‘PVR ICON’, ‘PVR LUXE’, ‘PVR Cinemas’ and ‘PVR Utsav’, and pursuant to acquisition and amalgamation of SPI Cinemas, ‘Escape’, ‘Sathyam’ and ‘Palazzo’. The Company exhibits diversified content to serve different regional customer segments across India.

The company has a diversified revenue stream and generates revenues primarily from box office and non-box office which primarily includes revenue from Sale of Food and Beverages, advertisement income, convenience fees, and income from movie production/ distribution among others.

Business area of the company

PVR is in the business of movie exhibition and production and operates largest cinema circuit across India.

Awards and Recognitions

  • 2004 Teacher’s Achievement Award FICCI Frames’ Newsmaker of the Year
  • 2005: Delhi Ratna Award -PHD Chambers of Commerce and Industry Indian Retail Forum’s Entrepreneur of the Year
  • 2012: CNBC’s Emerging India Award: Media and Entertainment
  • 2013: EY Entrepreneur of the Year Award for Business Transformation World Economic Forum’s Fastest Growing Global Growth Company
  • 2014: IMAGES Most Admired Retailer of the Year: Entertainment (5 years in a row)
  • 2015: India’s Most Trusted Cinema-Display Brand-The Brand Trust Report Businessworld Best Cinema Chain: National
  • 2016: CNBC Asia’sIndia Innovator of the Year Fortune India’s Next 500 Big Cine Expo’s Top Multiplex Chain of the Year IMAGES Most Admired Retailer of the Year
  • 2017: CineAsia’s Asian Exhibitor of the Year PVR was presented Asia’s Best Employer Brand Awards 2017
  • 2018-19: Best CFO (Excellence in Mergers & Acquisitions) to Mr. Nitin Sood by ET Now
  • 2018-19: Most Innovative Mid-Sized Company by ET Now 
  • 2018-19: The Kotler Award of Excellence for Digital Transformation, World Marketing Summit
  • 2018-19: Best Tech Award Supporting Energy Efficiency at the Future of Energy Management Summit & Awards 2018
  • 2018-19: ‘4700BC Popcorn’ received the ‘Food & Grocery Brand of the year (Snacks)’ award by the Global Awards for Retail Excellence
  • 2018-19: ‘4700BC Popcorn’ received the ‘Most Talented Food Industry Leaders’ award by the Asia Food Congress and Awards
  • 2018-19: National Best Employer Brand 2018 by Employer Branding Institute - India
  • 2018-19: Best Leadership Development Programme for Middle Management by the World Training and Development Congress
  • 2019-20: Indian Digital Awards for Best Use of Real-Time Streaming and Best Messaging Campaign in Digital Marketing.
  • 2019-20: NIPMAN Foundation Microsoft Equal Opportunity Award for Physical Accessibility at PVR.
  • 2019-20: Most Innovative Mid-Sized Company at ET Innovation Awards.
  • 2019-20: PVR’s Annual Report for FY 2018-19 has been Ranked 17th Globally (2nd in India), by the League of American Communications Professionals (LACP) in the 2018/19 Vision Awards Annual Report Competition
  • 2019-20: Top Multiplex chain of the year at Big cine Expo
  • 2019-20: Most Admired Retail Tech Implementation of the Year - PVR’s Accessible Cinema Program at the IMAGES Retail Forum.
  • 2019-20: Indian Content Leadership Awards for Content Enterprise of the Year; Best Content in an Experiential Marketing Campaign; Best Content in a Digital Media Campaign by a Retail Enterprise; Best Content in a Digital Media Campaign by a Media/Entertainment Enterprise and Best Content in a Performance-Driven Mobile Campaign.
  • 2019-20: Masters of Modern Marketing Awards and Conference (mCube Awards) for Multi-Channel Campaign; Content in Email Marketing Campaign; Best Experiential Marketing Campaign; digital Campaign by a
  • 2019-20: Media/Entertainment Enterprise; and Best Content in a Mobile Marketing Campaign
  • 2019-20: PVR - Investor Relations won Most Outstanding Company in India - Media Sector, in the 2019 Asiamoney Asia’s Outstanding Companies Poll.

Milestones

  • 1997: Opened first cinema in Delhi.
  • 2003: Received first private equity investment.
  • 2006: Listed on the stock exchanges.
  • 2012: Acquired Cinemax Cinemas.
  • 2016: Acquired DT Cinemas.
  • 2016: Crossed over 500 screens.
  • 2018: Acquired SPI Cinemas.
  • 2018: Crossed over 700 screens.
  • 2019: Crossed over 800 screens.
  • 2019: Raised Rs 500 crore through qualified institutional placement.
  • 2019: Expanded footprints in Sri Lanka.
  • 2020: Raised Rs 300 crore through Right issue (Subscribed more than 2 times).
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