PVR INOX reports strong Q2 and H1 FY26 performance

PVR INOX announced significant financial improvements for Q2 and H1 FY26, with revenue, EBITDA, and PAT reaching two-year highs. Q2 FY26 total revenue was ₹18,432 mn and PAT was ₹1,265 mn, while H1 FY26 reported ₹33,311 mn in total revenue and PAT of ₹929 mn (all figures excluding Ind AS 116). Admissions grew by 15% in Q2 and 13% in H1, with strong average ticket price (ATP) and food and beverage spend per head (SPH). Advertising income also saw a substantial increase of 15% in Q2 and 16% in H1, driven by longer campaigns.

The company's box office performance was boosted by a record 22 films grossing over ₹100 Cr in H1 FY26, indicating a structural recovery beyond mega-blockbusters. Regional films and Hollywood titles contributed significantly, with collections from ₹100-500 Cr films surging to 59% of Gross Box Office Collections (GBOC) in H1 FY26. PVR INOX is also expanding its screen network, adding 42 new screens in H1 FY26, and pursuing a capital-light growth model with 132 screens currently signed.

Financially, PVR INOX reduced its net debt by 57%, or ₹8,116 mn, since the merger, reaching its lowest level of ₹6,188 mn as of September 30, 2025. This deleveraging, coupled with robust operating cash flows and reduced capital expenditure, resulted in strong free cash flow generation of ₹3,320 mn in H1 FY26. The company remains optimistic about its outlook for the remainder of FY26, citing a robust content pipeline across all languages.