Mumbai: PVR INOX announces results for the first fiscal quarter ended 30 June 2026
Highlights for the Quarter ended 30 June, 2026
• Revenue of Rs. 16,423 million (up by 12 per cent YoY), EBITDA of Rs. 2,296 million (up by 90 per cent YoY) and PAT of Rs. 705 million (against a loss of Rs. 335 million in Q1 FY’26)
• Patrons visiting cinemas: 36.6 million, YoY growth of 8%
• Average Ticket Price (ATP) of Rs. 273, YoY growth of 8%
• Average F&B Spend per Head (SPH) of Rs. 161, YoY growth of 9%
• It achieved a Net Cash positive position, with Net Cash of INR 807 mn as on 30th June 2026
• As on 30 June 2026, PVR INOX operates 1,779 screens across 113 cities in India and Sri Lanka
Q1 FY’27 marked a strong start to the year. India’s total box office collections grew 20% year on year this quarter, with growth broad-based — across metros as well as Tier II and Tier III markets, across a wider set of successful mid-scale films, and across languages. PVR INOX says that it believes that this is a healthier and more sustainable way for the industry to grow. The strength we are seeing in India is also visible globally — North American box office is running 14% ahead of last year at $4.8 billion for the first half of 2026, its second-best first-half performance since 2019 — reaffirming that theatrical-first remains the release model of choice for filmmakers everywhere.
The quarter saw strong performances across languages. Hindi cinema held its ground with titles like ‘Bhoot Bangla’, ‘Cocktail 2’ and ‘Main Wapas Aunga’, while it was regional and Hollywood content that drove the outperformance. Hollywood found success from non-franchise titles such as ‘Project Hail Mary’, ‘Michael’ and ‘Obsession’. Regional cinema delivered multi-fold growth on the back of strong local content such as ‘Raja Shivaji’ in Marathi, ‘Drishyam 3’ in Malayalam and ‘Karuppu’ in Tamil, amongst others.
During the quarter, the Company recorded 36.6 million admissions (YoY growth of 8%) with an ATP of Rs. 273 (YoY growth of 8%) and SPH of Rs. 161 (YoY growth of 9%). This led to a 16% increase in ticket sales and a 17% rise in Food & Beverage sales compared to the same period last year. EBITDA rose by 90% to Rs. 2,296 million, with margins expanding from 8.2% to 14% driven by strong operating leverage. PAT for the quarter stood at Rs. 705 million against a loss of Rs. 335 million in Q1 FY’26.
Sustained free cash flow generation and disciplined capital allocation have transformed the balance sheet. From a net debt of INR 14,304 mn at the time of the merger, the Company turned Net Cash positive during the quarter, with net cash of INR 807 mn as of June 30, 2026. This gives the Company complete strategic flexibility to pursue its capital-light growth agenda funded through internal accruals. The Company remains on track to open 90–100 new screens during FY’27, weighted towards asset-light formats.
Looking ahead, the content pipeline for the remainder of FY’27 remains highly encouraging, with a strong mix of franchise films, star-led tentpoles and content-driven titles across languages. On the Hindi front, the slate includes anticipated titles such as ‘Ramayana Part 1’, ‘King’, ‘Love and War’, ‘Drishyam 3’, ‘Awarapan 2’, ‘Mirzapur – The Movie’ and ‘Haiwaan’.
Regional cinema continues to present a theatrical slate, led by titles such as ‘Jana Nayagan’, ‘Toxic’, ‘Jailer 2’, ‘Khalifa’ and ‘Sardar 2’. Hollywood is expected to provide further momentum, with major releases such as ‘Spider-Man: Brand New Day’, ‘Avengers: Doomsday’, ‘Dune: Part Three’, ‘The Hunger Games: Sunrise on the Reaping’ and ‘Jumanji: Open World’, many of them releasing in premium large-screen formats. The depth, diversity and scale of this pipeline give the company strong confidence in the theatrical outlook for the rest of FY’27.
Ajay Bijli, MD, PVR INOX said, “Q1 FY’27 reflects the structural strength we have built over the last three years. The industry delivered broad-based growth, our operating metrics improved across the board, and the Company is now Net Cash positive. With a diverse content slate ahead and a capital-light expansion model, our focus remains on delighting consumers, driving footfalls and creating enduring value for our shareholders.”
