PVR Inox Q4 Results 2026 Highlights: Firm posts profit of ₹186 crore vs loss YoY; average ticket price jumps 22%

PVR Inox shares crashed 4% after Q4 results announcement. The stock touched the day's low of ₹1020.65 per share as against the last closing price of ₹1074.05 apiece.

Commenting on the results and performance, Ajay Bijli, Managing Director, PVR INOX Ltd., said, "FY'26 represented a structural inflection for PVR INOX. With a strong content slate ahead, a capital-light expansion strategy and a significantly strengthened balance sheet, we believe the Company is entering its next phase of sustainable growth. Our focus remains on delighting consumers, driving footfalls through innovation, and creating enduring value for our shareholders.”

Looking ahead, the content pipeline for FY27 remains highly encouraging, with a strong mix of franchise films, star-led tentpoles, large-scale spectacles 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, Cocktail 2, Dhamaal 4, Welcome to the Jungle and Awarapan 2 — offering a healthy blend of mythology, action, romance, comedy and franchise-led entertainment.

Regional cinema also continues to present a compelling theatrical slate, led by marquee titles such as Peddi, Toxic, Jailer 2, The Paradise, Jana Nayagan and Spirit, alongside other pan-India releases — reinforcing the continued strength of South Indian and regional-origin content.

Hollywood is expected to provide further momentum, with major releases such as Masters of the Universe, Toy Story 5, The Odyssey, Spider-Man: Brand New Day, Avengers: Doomsday, Supergirl and Mortal Kombat II.

The depth, diversity and scale of this pipeline give the Company strong confidence in the theatrical outlook for FY27.

Robust operating performance, sustained cost discipline and reduced capex intensity have driven consistent free cash flow generation over the past three years, with FY'26 free cash flow reaching an all-time high of INR 7,901 Mn. The Company deployed this cash flow towards debt reduction, further strengthening the balance sheet. As of 31st March 2026, the Company's net debt stood at INR 1,619 million — a reduction of nearly 90% since the merger.

PVR Inox said that Q4 FY2026 recorded the highest-ever fourth-quarter collections for the company, supported by titles including Dhurandhar – The Revenge, Border 2, and Project Hail Mary, among others.

• Highest-ever revenue, EBITDA and PAT at INR 67,426 mn, INR 9,680 mn and INR 3,868 mn respectively
• Patrons visiting our cinemas: 150 mn
• Highest-ever average ticket price of INR 280 (up 8.0% YoY) and highest-ever spend per head of INR 147 (up 9.5% YoY)
• 93 new screen openings across 17 cinemas, including 22 screens in 6 cinemas under the FOCO model and 29 screens in 4 cinemas under the asset-light model
• Free cash flow of INR 7,901 mn for FY26
• Divested Zea Maize (4700BC) to Marico Limited for INR 2,268 mn — strategic focus on core cinema exhibition
• Net debt at INR 1,619 mn — reaching a negligible net debt level

During the quarter under review, the company said 31 million people visited its cinemas, with the average ticket price rising 22% YoY to ₹315 and average F&B spend per head growing 32% to ₹165.

Revenue from operations jumped 25.80% to ₹1547.3 crore from ₹1229.9 crore, the company said in an exchange filing.

PVR Inox posted a profit of ₹186.4 crore for the March quarter of the financial year 2025-26 (FY26) as against a loss of ₹125.3 crore in the same period a year ago.

For PVR INOX, Kotak Institutional Equities (KIE) estimates occupancy of 24.4% in 4QFY26 (versus 20.5% in 4QFY25), implying footfalls of 32.5 mn (+6.6% yoy).

"We assume ~14%/20% yoy growth in ATP/SPH to Rs294/Rs150; ATP growth is likely to be robust due to Dhurandhar 2 and SPH growth looks optically high on a weak base. This results in ticket/F&B sales growth of 25%/28% yoy," said the brokerage.

Reported EBITDA shall rise 41% YoY to INR4bn (grew 18% in Q3FY26; declined 17% in Q4FY25). On pre-Ind AS basis, we reckon EBITDA of INR1bn and a profit of INR50mn. We expect footfalls to reach 31mn (40.5mn in Q3FY26 and 30.5mn in Q4FY25), primarily due to a soft February and release of Dhurandhar 2 in the third week of March.

— Nuvama Research

Revenue breakdown: Both net box office collection of ₹7.9bn and F&B revenue of ₹4.7 bn shall increase ~22% YoY each. Q4 will also have an extraordinary income of ~INR1.3bn on account of sale of Zea Maize (4700BC).

PVR Inox share price declined to a low of ₹1036.30 on the BSE today as against its last closing price of ₹1074.05, recording a fall of 3.5% in intraday deals. As of 11.46 am, PVR Inox shares were down just 0.71%, recouping most of the losses.

Nuvama expects both average ticket price (ATP) and spending per head (SPH) to reach an all-time high of ₹310 and ₹158, respectively in Q4.

ATP/SPH to grow 20%/26% YoY and 6%/8% QoQ, said the brokerage. This sharp growth in ATP and SPH comes from Dhurandhar 2 (a four-hour movie), it added.

This is to inform you that a meeting of the Board of Directors of PVR INOX Limited is scheduled to be held on Monday, 11th day of May, 2026, inter-alia, to consider and approve Audited Standalone and Consolidated Financial Results for the Fourth Quarter and Financial Year ended 31st March, 2026, the company said in a filing earlier this month.