NSE: CINELINE · BSE: 532807
CINELINE INDIA LIMITED
Running under the MovieMax/MOVIEW brand, the multiplex cinema chain operates 85 screens across 22 cinemas in 15 cities. Cinema exhibition is the continuing-operations business, with FY26 segment revenue of ₹210.62 crore and an 8.2% EBIT margin. Earnings come from selling movie tickets and in-cinema food & beverage to moviegoers, with the company now debt-free after repaying ₹228 crore of borrowings and expanding via capital-light revenue-share models. It is targeting 105-110 screens by FY27 with 20-25 new openings in the pipeline. The largest cost line is other operating expenses at 65.5% of revenue, largely mall rentals under the revenue-share model, followed by depreciation at 12.4%. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Cinema exhibition (100%). Cyclical, asset-heavy cinema exhibition; recently debt-free, shifting to capital-light expansion
Exhibit 1: Financial summary, FY21–FY25 (all audited; no estimate years)
| ₹ crore · consolidated | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | 29 | 45 | 141 | 248 | 211 |
| EBITDA (ex other income) | 12 | 11 | 24 | 62 | 14 |
| margin % | 42.0 | 25.2 | 17.2 | 25.1 | 6.7 |
| Owners' profit | 5 | 0 | 0 | 0 | (18) |
| EPS, as reported (₹) | 1.71 | (12.19) | 0.54 | (1.40) | (5.14) |
| ROE % · ROCE % | 3.8 · 6.6 | (32.5) · (0.7) | 1.2 · 1.2 | (3.0) · 7.5 | (12.3) · (3.1) |
| Debt / equity (x) | 2.45 | 2.95 | 1.74 | 1.53 | 0.00 |
| Cash from operations | (2) | 10 | 76 | 42 | 50 |
| Capex | 0 | 0 | (3) | (17) | (41) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q1 FY24 | Q2 FY24 | Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 50 | 75 | 69 | 54 | 36 | 56 | 63 | 55 |
| Profit before tax | (6) | 6 | 3 | (6) | (9) | 1 | 2 | (30) |
| Net profit | (5) | 5 | 2 | (6) | (11) | 1 | 5 | (12) |
| EPS (₹) | (1.49) | 1.59 | 1.00 | (1.90) | (3.07) | 0.27 | 1.32 | (3.63) |
Exhibit 3: Segment revenue, FY25
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Cinema exhibition | 55 | 26.1 |
| Discontinued operations | 57 | 27.3 |
| Cinema Exhibition | 156 | 73.9 |
| Total, before eliminations | 268 | 100.0 |
Exhibit 4: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| PVR INOX LIMITED | 14,089 | 31.7 | 1.91 | 6.4 | 4.5 | 1.7 | 88.4 | 34.2 |
| CINELINE INDIA LIMITED ◆ | 299 | — | 2.08 | 16.3 | (12.3) | (14.1) | 52.4 | (29.5) |
| UFO MOVIEZ INDIA LTD. | 232 | 9.6 | 0.71 | 3.4 | 7.7 | 7.6 | 41.0 | 19.3 |
| MUKTA ARTS LIMITED | 111 | — | — | 7.3 | 21.6 | (9.1) | 19.0 | 14.2 |
| PNC MEDIA AND ENT LTD | 26 | — | 0.43 | — | (20.6) | (26.2) | 37.2 | (41.1) |
| TIPS FILMS LIMITED | 14 | — | 0.46 | — | (53.0) | (49.0) | — | (60.9) |
Exhibit 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/B | 2.1 | 1.0 | 36 of 47 | 24% |
| ROCE | (14.1) | 1.2 | 48 of 55 | 13% |
| ROE | (12.3) | 1.0 | 41 of 47 | 13% |
| Debt / Equity | 0.0 | 0.0 | 18 of 47 | 63% |
| EBITDA margin | (29.4) | 10.1 | 40 of 52 | 24% |
| Revenue growth | 2.4 | 0.6 | 24 of 49 | 52% |
| Profit growth | (91.9) | (18.0) | 38 of 50 | 25% |
| Market cap | 299 | 71 | 20 of 58 | 67% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 27 Oct 2026 · Board to approve September 2026 quarterly and half-year results | results | low | — | — |
| 21 Oct 2026 · Promoters release pledges over 65 lakh Cineline shares | ownership changes | low | — | — |
| 21 Oct 2026 · Promoters release pledges on 65 lakh Cineline India shares | ownership changes | high | — | — |
| 8 Oct 2026 · Quarterly Compliance Certificate under SEBI Regulation 74(5) for Sep 2026 | compliance | minimal | — | — |
| 24 Sept 2026 · Cineline India - Trading Window closure from October 1, 2026 | compliance | minimal | — | — |
| 23 Sept 2026 · Cineline India 24th AGM: All resolutions passed, final dividend of Re. 1.25 declared | board shareholder meetings | medium | — | — |
| 23 Sept 2026 · Cineline India 24th AGM: dividend of Rs 1.25 per share declared | board shareholder meetings | low | — | — |
| 17 Sept 2026 · Cineline India to meet investors via Arihant Capital conference on Sep 29 | board shareholder meetings | low | — | — |
| 2 Sept 2026 · Clarification on EPS error in XBRL filing for Q1 FY27 | results | low | — | — |
| 1 Sept 2026 · TDS intimation on final dividend of Rs 1.25 per share | corporate actions | medium | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.