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PVRINOX Diversified 15 May 2026

PVR INOX Ltd — Q4 FY26

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.

bullish high
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Revenue ₹1,547 Cr +16%
EBITDA ₹968 Cr +100%
PAT ₹186 Cr
EBITDA Margin 29% +600bps
Duration 55 min
Read Time 1 min read

✓ Verified against BSE filing

2-Minute Summary

✦ AI-Generated from Full Transcript

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.

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Macroeconomic headwinds from West Asia crisis

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Quarter Snapshot

Footfalls (annual) 150M
+10% YoY

Record annual footfalls, driven by strong content slate across Hindi, English, and regional cinema.

Average Ticket Price (annual) ₹280
+8% YoY

Record ATP, supported by premium formats and pricing power.

Spend Per Head (annual) ₹147
+10% YoY

Record SPH, reflecting higher F&B consumption per guest.

Free Cash Flow (annual) ₹790 crore
+42% YoY

All-time high FCF, driven by strong operating performance and reduced capex.

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Guidance and risk preview

Top guidance Screen additions of 100+ in FY27

Management expects to add over 100 screens in FY27, with 55-60% under capital-light models (FOCO and asset-light).

Top risk Macroeconomic headwinds from West Asia crisis

PM's call for austerity (reduce gold purchases, foreign travel) and potential fuel price hikes could impact discretionary spending, though manageme...

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