PVR Inox shares fall 2.66% after Q2FY27 results
The consolidated operating margin was 36.54%, while management said 24 screens opened in H1FY27 and 90-100 are planned for the full year.
Filed 28 Oct 2026, 14:16 IST · PVR Inox Ltd (PVRINOX)
Key takeaways
- Consolidated operating margin was 36.54%, 23.52 percentage points above the 13.02% median for 84 reported Consumer Discretionary peers.
- Management said PVR Inox opened 24 screens in H1FY27 and remains on track to open 90-100 screens during FY2027.
- PVR Inox shares fell 2.66% on the recorded reaction to the consolidated Q2FY27 results, with volume at 3.09 times the reference level.
Price around the results
Box-office growth and premium formats support Q2
Management said franchise and non-franchise films together drove box-office growth in the quarter. It also reported strong demand for premium formats as audiences sought immersive experiences. Consolidated net profit was Rs 263.1 cr on revenue of Rs 2,105.1 cr.
Operating margin remains well above the peer median
PVR Inox's consolidated operating margin of 36.54% was 23.52 percentage points above the 13.02% median among 84 Consumer Discretionary peers that had reported. Other income was Rs 33.9 cr against profit before tax of Rs 350.8 cr, while the tax rate was 25.0%.
Expansion broadens beyond the established cinema network
Management said the company opened 24 new screens in the first half of FY2027 and remains on track to open 90-100 during the full year. The company also said its first SMART Cinema opened in Muzaffarpur, Bihar, with the format designed for Tier 3 and Tier 4 markets. Management described value-led ticketing and Grab & Go counters as initiatives to increase footfalls and extend food-and-beverage occasions.
Shares declined on the reported reaction
PVR Inox shares fell 2.66% on the recorded reaction, despite opening 0.55% higher. Trading volume was 3.09 times the reference level, while the stock's relative move was -2.44%.
Q2FY27 at a glance
Consolidated figures as filed with NSE — cross-checked against an independent source.
| Line item | Q2FY27 |
|---|---|
| Revenue | ₹2,105 cr |
| Other income | ₹34 cr |
| Expenses | ₹1,336 cr |
| Operating profit | ₹769 cr |
| Operating margin (%) | 36.54% |
| Interest | ₹157 cr |
| Depreciation | ₹296 cr |
| Profit before tax | ₹351 cr |
| Tax | ₹88 cr |
| Net profit | ₹263 cr |
| EPS (₹) | ₹26.82 |
Operating margin of 36.54% compares with a Consumer Discretionary sector median of 13.02% across 84 peers that have reported Q2FY27.
How the stock reacted
| Window | Stock | vs NIFTY |
|---|---|---|
| Results day | -2.66% | -2.44% |
Volume on the results session was 3.09× its 20-day average.
What management said
From the company’s own investor presentation. Each point is checked against the source document before it appears here.
This quarter
- Franchise and non-franchise films together drove strong box-office growth in the quarter.
- Premium formats were in strong demand as audiences sought immersive experiences.
Guidance & outlook
- The company is on track to open 90-100 new screens in FY2027.
Expansion
- The company opened 24 new screens in the first half of FY2027.
- The first SMART Cinema opened in Muzaffarpur, Bihar.
New initiatives
- The company is using value-led ticketing to drive cinema footfalls.
- The company has launched Grab & Go counters.
- The SMART Cinema model is designed to capture Tier 3 and Tier 4 markets.
- The SMART Cinema format targets an opportunity across approximately 300 cities and 1,000 screens.
What to watch
- Progress toward the 90-100 new screens management said it is on track to open in FY2027.
- Whether consolidated operating margin remains near 36.54%.
- Whether the SMART Cinema format expands beyond the first opening in Muzaffarpur.