Inox Leisure Q2 Results Review - Flop Show Due To Weak Content: Prabhudas Lilladher

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. .Prabhudas Lilladher Report.In-line with our expectations, Inox Leisure Ltd. reported weak performance and managed pre Indian-Accounting Standard Ebitda break-even with losses of Rs 214 million (our estimate: Rs 242 million) at bottom-line level due to weak content. Except for Thor and Brahmastra, no movie was able to breach the Rs 1 billion net box-office collection barrier in Q2 FY23. Despite subdued performance, as content slate for near term is healthy with releases like Ram Setu, Thank God, Drishyam-2, Avatar and Black Panther in pipeline we anticipate strong back-ended recovery and expect footfalls in FY23E to be at par over pre-pandemic base. We increase our FY24E/FY25E Ebitda estimates of Inox Leisure by ~4% odd as we re-align our cost assumptions given strong fixed cost control post Covid. Except for rental obligations which were up 3% on per screen basis as escalations kicked in, employee cost, power and fuel and other overheads have declined by 27%/3%/21% respectively over pre-pandemic base in Q2 FY23..Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Inox Leisure Q2 Results Review - Flop Show Due To Weak Content: Prabhudas Lilladher

Except for Thor and Brahmastra, no movie was able to breach the Rs 1 billion net box-office collection barrier in Q2 FY23.

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