INSUBCONTINENT EXCLUSIVE:
NEW DELHI: It's a season of underdogs
report better numbers than the year-ago quarter, when blockbuster 'Baahubali 2' had ensured strong footfalls.
PVR will outperform in box
office collections and Inox in ad revenues, said ICICI Securities in earnings preview.
Nirmal Bang Institutional Equities expects Q1
revenues for PVR and INOX to jump 9.3 per cent and 7.9 per cent respectively, led by nearly 7 per cent YoY growth new screen addition, a
modest decline in YoY occupancy rate, low single-digit increase in ticket prices and high single-digit to low double-digit growth in food
beverages' spend per hour (SPH)
Decent box office collections from small-budget movies would aid footfalls in multiplexes, said Emkay Global Financial Services, which
expects 5 per cent YoY growth in footfalls for PVR and a 1 per cent de-growth in footfalls at Inox Leisure
The brokerage sees 2 per cent growth in average ticket price (ATP) for both companies.
In terms of ad growth, brokerages largely expect PVR
to report flattish growth and Inox Leisure to deliver 20 per cent expansion.
Going ahead, investors would be eying any MA announcements by
the two listed firms, as some 15-20 regional players with 20-80 screens have emerged potential boyout candidates
Investors would keenly follow screen rollouts plan that have been unimpressive over the past few quarters
Besides, commentary on potential consolidation in the industry, stabilisation of the theatrical window at eight weeks, future content to be
released in the second quarter and competition from over the top (OTT) media services will be keenly tracked, Nirmal Bang Institutional
