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A source-linked quarter view: reported numbers, management language, guidance, and the risks that should carry forward.
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Revenue
₹1,547 Cr
verified against source
Revenue YoY
16%
reported change
EBITDA
₹968 Cr
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
PVR INOX delivered a record FY26 with revenue of ₹6,742 crore (+16% YoY) and EBITDA of ₹968 crore (margin 14.4%, +600bps YoY), driven by strong box office growth (industry collections up 11% to ₹13,519 crore) and cost discipline. PAT swung to ₹386 crore from a loss of ₹152 crore in FY25. Q4 revenue grew 25% to ₹1,577 crore. The company pivoted to a capital-light model, with 55% of 93 new screens added under FOCO/asset-light formats, reducing capex intensity 24% YoY. Net debt fell to ₹161 crore (down 90% from merger levels). Management guided for 100+ screen additions in FY27, with capex of ₹375-400 crore, and expects continued margin expansion. Key risk: macroeconomic headwinds from West Asia crisis could dampen discretionary spending, though management believes cinema is resilient.
Colored figures show movement against the previous available record.
Guidance to track
- Management expects to add over 100 screens in FY27, with 55-60% under capital-light models (FOCO and asset-light).
- Capex includes ₹225-250 crore for new projects, ₹80-100 crore for renovations, and balance for maintenance and IT.
- Management intends to reduce gross debt from ₹760 crore to around ₹500 crore in the near term.
- Two smart screen pilots will open by mid-July, with 28-30 screens planned under this model over the next year.
Risks flagged
- PM's call for austerity (reduce gold purchases, foreign travel) and potential fuel price hikes could impact discretionary spending, though management believes cinema is resilient.
- Advertising growth is expected to be back-ended in H2 FY27, relying on big releases; any delays could impact full-year ad revenue.
- FY26 occupancy of ~26% is similar to FY24 levels; management is confident of improvement but macro factors could limit upside.
Key quotes
- FY26 was a defining year for PVR INOX. We delivered our best ever financial performance, brought net debt to a negligible level and pivoted decisively to a capital light growth model.
- Theater first model is a very clear model for all the producers. This year 470 have come to theatrical and only 30 have gone to OTT.
- We are the preferred partner for India's leading mall developers and top food producers.
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