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PVR Inox Ltd

NSE: PVRINOX BSE: 532689

PVR Limited (PVR) is India’s largest and most premium film exhibition company. It pioneered the multiplex revolution in India by establishing the first multiplex cinema in 1997 at New Delhi and continues to lead the market with relentless focus on innovation and operational excellence to democratise big‑screen movie experience.

1,008
52W: ₹900 — ₹1250
PE 48 · Book ₹747 · +35% vs book
Market Cap₹9,898 Cr
Stock P/E48Price to Earnings
ROCE6.8%Return on Capital
ROE2.86%Return on Equity
Div. Yield0%Face Value ₹10

Weaknesses

  • Company has low interest coverage ratio.
  • Promoter holding is low: 27.5%
  • Company has a low return on equity of -0.99% over last 3 years.

Shareholding Pattern

Promoters27.53%
FIIs17.86%
DIIs36.43%
Public18.19%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters27.84%27.49%0.427.49%27.53%0.027.53%27.53%27.53%27.53%
FIIs18.07%20.69%2.619.21%1.520.39%1.219.71%0.721.8%2.121.16%0.617.86%3.3
DIIs38.78%39.85%1.140.03%0.236.3%3.736.52%0.235.35%1.234.51%0.836.43%1.9
Public15.29%11.97%3.313.28%1.315.78%2.516.25%0.515.32%0.916.8%1.518.19%1.4

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales1,4971,1981,1371,5331,5961,1771,3731,7581,7741,487
Expenses1,0299268871,0581,0738939771,1521,1571,042
Operating Profit468273250475523284396606616445
OPM %31%23%22%31%33%24%29%34%35%30%
Net Profit13-134-176-1234-123-5110495121
EPS ₹1.28-13.66-17.95-1.263.51-12.51-5.2110.589.6712.3

AI Insights

Revenue Trend

Mar 2026 revenue at ₹6,391Cr, up 17.4% YoY. OPM at 32%.

Debt Position

Borrowings at ₹6,761Cr. Debt-to-equity ratio: 0.93x. Moderate leverage.

Capex Cycle

CWIP at ₹32Cr (0% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 36.43% (+3.28pp change). FIIs: 17.86% (-8.97pp change). Promoters hold 27.53%.

Margin & Efficiency

ROCE declining from 9% (Mar 2015) to 7% (Mar 2026). Working capital days: -106.

Valuation

PE 48x with 6.8% ROCE. Price is 35% above book value of ₹747. Dividend yield: 0%.

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