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Entry Price

1,115.00

Target

1,210.00

Recommend Date

04-11-2020

Return

8.52 %
BUY

Date : 04-11-2020

Occupancy traction post reopening holds key… PVR reported a washout Q2FY21 as expected. As a result of cinemas being shut, revenue came in at | 40.5 crore (95.8% YoY de-growth). Box office revenue of | 60 lakh (income from Sri Lanka property) was reported while no ad revenues were reported. F&B income was | 3.7 core whereas | 27.5 crore of movie distribution rights was reported. The company has invoked Force Majeure leading to no rental expenses. EBITDA loss (without impact of Ind-AS 116) was at | 81 crore. The company accounted | 64 crore of rent concession as other income. It reported a net loss (ex-Ind-AS 116) at | 116.1 crore. On a reported basis, net loss was at | 184 crore.