PVR Inox plans 90–100 new screens in FY27 after turning net cash positive
PVR Inox posted Q1 FY27 revenue growth of 10% to Rs 1,620 crore and EBITDA growth of 33% to Rs 530 crore. Admissions rose 8% to 36.6 million, while higher ticket prices and food spend supported performance. The chain closed 19 screens in Q1 but remains on track to add 90–100 during FY27.
What happened
PVR INOX · PVR Inox reported stronger Q1 FY27 operating performance, with revenue up 10% and EBITDA up 33%, supported by higher admissions, ticket prices and
Key facts
- Shares rose 5.54% to Rs 1,065
- Q1 FY27 revenue: Rs 1,620 crore, up 10% YoY
- EBITDA: Rs 530 crore, up 33% YoY
- Pre-Ind AS EBITDA: Rs 230 crore
- PAT: Rs 70 crore
- Average ticket price: Rs 273, up 8% YoY
- Spend per head: Rs 161, up 9% YoY
- Admissions: 36.6 million, up 8% YoY
- Occupancy: 25.3%, versus 22% a year earlier
- Advertising revenue declined 2% YoY
- Net cash: Rs 80.7 crore, versus Rs 160 crore net debt at Q4 FY26
- FY27 planned screen additions: 90-100
- Q1 net screen closures: 19
Why this matters
PVR Inox’s selective closure-and-addition strategy creates potential opportunities for landlords, regional operators and premium-format partners in high-performing catchments.
What to watch
- Quarterly net screen additions versus the 90–100 FY27 target, including the mix of openings and closures.
- Occupancy, admissions growth and average ticket price trends after the next major film-release cycles.
- Food-and-beverage spend per patron and EBITDA margin, which will indicate whether premiumization is offsetting new-site ramp costs.
- Net cash movement, lease liabilities and capital expenditure per new screen.
- Share of new screens in premium formats, tier-2/3 markets and newly opened malls.
- Further rationalization of low-performing screens or announcements of landlord rent concessions.
- Prioritize premium multiplexes and upgraded formats in metros, affluent suburbs and high-growth tier-2 cities.
- Use closure data from the 19 Q1 screen exits to renegotiate rents and shift capital away from structurally weak catchments.
- Bundle loyalty, food-and-beverage offers and dynamic pricing to raise spend per admission rather than relying only on footfall growth.
- Pursue selective acquisition, management-contract or revenue-share opportunities if smaller exhibitors face funding pressure.
- Sequence openings around major Hindi, regional and Hollywood release windows to reduce initial occupancy risk.