Inox Leisure Q4 Review - Poised For Robust Growth: IDBI Capital
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IDBI Capital Report
Inox Leisure Ltd. has witnessed healthy revenues in Q4 FY22 despite impact of omicron. The release of blockbuster movies and healthy traction in March 2022 boosted Q4 FY22 growth.
Going forward, we expect the company to witness robust growth in FY23E mainly led by ease of restriction, healthy content pipeline and opening of economy.
In addition, improvement in ticket price and spend per head (on food), we expect Inox Leisure to witness strong revenue and profit growth in FY23 and FY24.
Further, the synergy benefits due to merger with PVR Ltd. will lead to premium valuation given its economies of scale, healthy balance sheet and expansion plans (plans to add 2000 screens in the next few years).
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