BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Motilal Oswal Report
After reporting a weak performance in Q2 FY23, PVR Ltd. saw recovery and reported Ebitda of Rs 1.3 billion (versus our estimate: Rs 1.1 billion) in Q3 FY23, led by improving occupancies, (albeit below pre-Covid levels) and healthy distribution income, driving up profit after tax to Rs 252 million (versus Rs 53 million estimate).
Healthy content pipeline, expected merger completion between PVR and Inox Leisure Ltd., and a guidance of 150-200 screen additions annually for the combined entity should support growth.
However, a mixed bag performance of recent big ticket movies coupled with rising concerns of over-the-top continue to remain our key monitorables.
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