From its highs in December 2023, the stock of the country's largest multiplex chain PVR Inox is down 22 per cent and is trading at ₹1,412 a share. A weaker-than-expected December quarter, a muted outlook in the near term and a downward revision in earnings are weighing on the film exhibitor. Even though there aren't enough growth boosters in the near term, brokerages have maintained an accumulate or buy rating on the stock, given moderate valuations.
The key trigger will be the March quarter performance and the outlook for the company. Some of the concerns related to sluggish box office collections could be reflected in the March quarter performance. Multiplexes (sector) could report a revenue growth of 3 per cent year-on-year (Y-o-Y) and a quarter-on-quarter (Q-o-Q) dip in box-office collections due to lack of big-budget movies, gaps in release dates and the exam season.
Elara Securities highlighted that the quarter was below par for the market leader. The brokerage expects a 24 per cent occupancy due to muted footfalls.
Diese Geschichte stammt aus der April 13, 2024-Ausgabe von Business Standard.
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Diese Geschichte stammt aus der April 13, 2024-Ausgabe von Business Standard.
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