PVR INOX Ltd.Q2 EBITDA +44%, PAT ₹273 Cr, 90-100 new screens in FY27

PVR INOX's Q2 FY27 call, held on 28 October 2026, reported its best quarter: total income rose 17% to ₹2,133 crore, EBITDA rose 44% to ₹475 crore at a 22.3% margin, and PAT more than doubled to ₹273 crore.

Footfalls were 46.3 million, up 4%, with ticket price at ₹298 and food spend per head at ₹153, each up 14%. The industry box office hit a record ₹4,433 crore, up 23%, led by English-language films. First-half free cash flow was ₹604 crore, the company bought back ₹300 crore of shares and ended September with net cash of ₹141 crore. The Board approved a policy to return about 30% of annual surplus cash flow, keeping net debt to EBITDA within 0.5x.

A change in asset useful lives lowers depreciation by ₹35 crore to ₹40 crore a year. The company opened 24 screens in H1 and targets 90 to 100 in FY27 and 150 to 175 a year afterwards, led by a low-cost SMART Cinema format for smaller towns that costs 25% to 30% less to build.