Gurugram, July 23: PVR INOX Limited today announced its unaudited standalone and consolidated financial results for the quarter ended June 30, 2026.
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. We believe 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 mn admissions (YoY growth of 8%) with an ATP of INR 273 (YoY growth of 8%) and SPH of INR 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 90% to INR 2,296 mn, with margins expanding from 8.2% to 14.0% driven by strong operating leverage. PAT for the quarter stood at INR 705 mn against a loss of INR 335 mn 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 compelling theatrical slate, led by marquee 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.
Commenting on the results and performance, Mr. Ajay Bijli, Managing Director, PVR INOX Ltd., 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.”