PVR INOX Limited has submitted to the Stock Exchange the transcript of conference call for analysts and investors held on Monday, 12th May, 2025 for post announcement of Financial Results for the Fourth Quarter and Financial Year ended 31st March, 2025.
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PVR INOX held its Q4 FY25 results call reporting total revenue of INR1,285 crores, EBITDA of INR25 crores, and a PAT loss of INR106 crores. The company faced a 9% decline in overall box office collections due to weak Bollywood and Hollywood content, with Hindi box office falling 26% and Bollywood collections down 28%. Net debt reduced sharply from INR1,430 crores (March 2023) to INR952 crores (March 2025), a drop of INR478 crores since the merger, with INR342 crores of reduction in FY25 alone. Management guided to FY26 capex of INR400-425 crores and ~110 new screen additions, with over 50% under capital-light/FOCO models. The company exited 72 underperforming screens, opened 77 new ones, and remains optimistic on FY26 content slate including tentpole Hindi films and Hollywood franchises.
Continued pressure on profitability from weak content slate is a near-term concern, but aggressive debt reduction and the shift to a capital-light expansion model should support long-term cash flows and balance sheet strength. The explicit guidance that EBITDA margins will be lower under the new asset-light model is a headwind for the next 1-2 years, though expected content revival in FY26 could help offset this. Existing shareholders should watch for the planned monetization of key properties, which remains delayed without a clear timeline.