'When movies connect, they go to another level'

At 1,745 screens, PVR Inox is the largest multiplex chain in India. But the ₹6,200 crore (2023-24 revenue) chain has seen its stock being hammered in the market. The buzz is that the cinema business is in trouble. Its managing director, AJAY BIJLI, in a quick chat with Vanita Kohli-Khandekar, talks about the state of the movie business and his prognosis for 2025. Edited excerpts:

- AJAY BIJLI MD, PVR Inox

There was only a slight fall in overall box-office collections (3 per cent) and ticket sales in 2024. So why is the market so bearish on PVR Inox?

We would not like to comment on stock price movements, as they are influenced by various external factors beyond the company's fundamentals.

PVR Inox remains focused on delivering exceptional experiences and is confident in its strong business outlook for 2025.

What is the state of the movie business?

When the movies connect, they go to another level. Pushpa 2: The Rule has done ₹1,100 crore net BO. This is the post-pandemic era, and we have the highest-grossing Indian film ever.

This is a very important indicator. People are coming out to watch movies. What is lacking is the consistency of movies every weekend. That hasn't happened over the almost 11/12 quarters since cinemas have opened after the pandemic.