PVR INOX Limited has submitted to the Stock Exchange Transcript of the Conference Call for analysts and investors held on Thursday, 05th February, 2026, post announcement of un-audited standalone & consolidated financial results for the third quarter and 9 months ended December 31, 2025.
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PVR INOX posted strong Q3 FY2026 results with revenue up ~10% YoY to Rs. 1,908 crores, EBITDA up 34% to Rs. 345 crores, and PAT up 69% to Rs. 115 crores (after a one-time Rs. 44.6 crore labor code provision). The company delivered 18% EBITDA margins at ~28.5% occupancy for a second straight quarter, versus pre-COVID when similar margins needed 32%+ occupancy, reflecting merger synergies and cost optimization. Footfalls grew 9% YoY to 40.5 million, ATP rose 4% to Rs. 293 and SPH to Rs. 146. Net debt fell to Rs. 365 crores (Rs. 1,000+ crore reduction since merger), and management expects to be net debt-free by end of FY2026 or Q1 FY2027, bolstered by the Rs. 226.8 crore divestment of 4700BC to Marico. Screen addition guidance is ~96 in FY2026 and ~150 in FY2027, with CAPEX of Rs. 350-400 crores next year, while the content pipeline (Dhurandhar 2, King, Ramayana Part 1, Avengers Doomsday, etc.) supports further occupancy growth.
Strong execution on margins, occupancy, and deleveraging is positive for shareholders; the clear path to net debt-free status and accelerating screen additions support earnings growth, though management gave no guidance on restarting dividends or buybacks despite the strengthening balance sheet and low promoter stake.