PVR INOX financials and balance sheet

NSE: PVRINOXBSE: 532689EntertainmentSmall Cap

Formerly PVR

₹1,395.70₹24.20 (1.70%)BSE ₹1,395.55

Share price at the NSE close on 23 Oct 2026. Previous close ₹1,419.90.

52-week range of traded prices to 23 Oct 2026

₹907.40Low, 30 Mar 2026₹1,458.00High, 22 Oct 2026

Next results date: the board meets on 28 Oct 2026 to consider: financial results and other business matters.

Market cap: ₹13,417 Cr569th largest listed
P/E: 30.2
P/E without one-offs: 41.7
P/B: 1.8
Dividend yield: Nonein the last 12 months
ROE: 6.2%
ROE without one-offs: 4.5%
ROCE: 11.5%
Debt to equity: 0.10
Volume, NSE: 4,04,19345.2% delivered

10 years at a glance

Consolidated: the company and its subsidiaries together. ₹ crore, years to March.PVR INOX annual reports

Revenue, net profit and borrowings, ₹ crore

Revenue
Net profit
Borrowings
Loss

Back to profit in the year to Mar 2026, ₹333 CrA loss in 5 of the 10 years shown

Operating and net margin, per cent

Operating margin
Net margin

From Apr 2019 leases sit on the balance sheet: rent is charged as depreciation and interest instead, so operating profit and total assets step up with nothing about the business having changed. Borrowings here leave lease liabilities out.

The years either side of a change of basis do not compare. From the year to Mar 2026, the company's revenue for that year, ₹6,646 Cr, differs from its quarters added, ₹6,719 Cr; the company reports a discontinued business.

Results for the year to Mar 2026

Consolidated: the company and its subsidiaries together. ₹ crore.

From revenue to net profit

Revenue6,646
Materials and goods−470
Employee costs−706
Other expenses−3,375
Operating profit2,095
Depreciation−1,270
Other income+184
One-off items−49
Finance costs−733
Profit before tax227
Tax−51
Discontinued businesses+157
Net profit333

What the company owns

Plant, investments and other assets₹14,680 Cr
Cash and bank₹592 Cr
Receivables₹267 Cr
Inventory₹73 Cr

What pays for it: net worth and liabilities

Net worth₹7,379 Cr
Other liabilities₹6,880 Cr
Borrowings₹759 Cr
Owed to suppliers₹595 Cr

PVR INOX business segments, year to Mar 2026

A reportable segment is a line of business the company must report on its own. Consolidated, ₹ crore, as the company reports them. That year's accounts report a discontinued business, which these segments may include.PVR INOX segment results by quarter

Revenue by segment

₹6,979 CrTotal

Movie exhibition₹6,608 Cr94.7% of total
Movie production and distribution₹371 Cr5.3% of total

Profit by segment

Movie exhibition₹254 Cr92.2% of total
Movie production and distribution₹22 Cr7.8% of total

Segment results by year

Consolidated, ₹ crore, years to March.

Movie exhibition
Revenue, ₹ crore
3,028
3,302
697
1,525
3,647
6,071
5,622
6,608
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
292
86
−929
−686
−196
−48
−380
254
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Movie production and distribution
Revenue, ₹ crore
387
371
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
19
22
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Others
Revenue, ₹ crore
111
203
64
172
261
317
121
0
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
7
4
−13
5
−1
4
−13
0
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26

₹ crore	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Revenue of all businesses	3,139	3,505	760	1,698	3,908	6,389	6,129	6,979
Company revenue, as in its results	3,086	3,414	280	1,331	3,751	6,107	5,780	6,646
Revenue	3,028	3,302	697	1,525	3,647	6,071	5,622	6,608
Revenue growth	–	9.0%	−78.9%	119.0%	139.1%	66.5%	−7.4%	17.5%
Profit	292	86	−929	−686	−196	−48	−380	254
Profit growth	–	−70.6%	–	–	–	–	–	–
Margin	9.6%	2.6%	−133.3%	−44.9%	−5.4%	−0.8%	−6.8%	3.8%
Return on capital	10.8%	4.1%	−48.9%	−42.9%	−2.4%	−0.6%	−6.2%	3.9%
Assets	3,696	6,692	6,187	6,019	15,409	15,662	15,328	14,732
Liabilities	1,007	4,614	4,289	4,419	7,285	7,731	9,158	8,155
Capital employed	2,689	2,078	1,897	1,599	8,125	7,932	6,170	6,577
Revenue	–	–	–	–	–	–	387	371
Revenue growth	–	–	–	–	–	–	–	−3.9%
Profit	–	–	–	–	–	–	19	22
Profit growth	–	–	–	–	–	–	–	16.8%
Margin	–	–	–	–	–	–	4.8%	5.8%
Return on capital	–	–	–	–	–	–	10.3%	11.2%
Assets	–	–	–	–	–	–	195	271
Liabilities	–	–	–	–	–	–	15	79
Capital employed	–	–	–	–	–	–	180	193
Revenue	111	203	64	172	261	317	121	0
Revenue growth	–	83.2%	−68.7%	170.8%	51.8%	21.4%	−62.0%	−100.0%
Profit	7	4	−13	5	−1	4	−13	0
Profit growth	–	−47.5%	–	–	–	–	–	–
Margin	6.7%	1.9%	−20.9%	3.0%	−0.5%	1.2%	−10.5%	–
Return on capital	14.6%	3.4%	−13.0%	9.5%	−1.6%	3.2%	−37.5%	–
Assets	72	146	121	72	152	162	69	0
Liabilities	21	32	19	18	67	41	35	0
Capital employed	51	113	102	54	85	121	34	0
	–	–	0	0	0	0	0	0
Profit	–	–	3	0	−1	0	0	0
Assets	–	–	0	0	0	0	0	0
Liabilities	–	–	0	0	0	0	0	0

Profit is before tax and finance costs, the way companies report their segments.

Profit and loss

Consolidated, ₹ crore, years to March.PVR INOX quarterly results

₹ crore	Mar 2017	Mar 2018	Mar 2019Filed 10 May	Mar 2020Filed 9 Jun	Mar 2021Filed 2 Jun	Mar 2022Filed 10 May	Mar 2023Filed 16 May	Mar 2024Filed 15 May	Mar 2025Filed 10 Jun	Mar 2026Filed 11 May
Revenue from operations	2,119	2,334	3,086	3,414	280	1,331	3,751	6,107	5,780	6,646
	1,806	1,932	2,499	2,338	615	1,225	2,703	4,297	4,238	4,551
Materials and goods bought	–	538	702	264	26	111	310	499	467	470
Employee costs	–	–	337	394	217	269	439	657	686	706
Other expenses	–	–	1,460	1,680	372	845	1,954	3,140	3,085	3,375
Operating profit before depreciation	314	402	586	1,077	−335	106	1,048	1,810	1,542	2,095
Operating margin	14.8%	17.2%	19.0%	31.5%	−119.6%	7.9%	27.9%	29.6%	26.7%	31.5%
Materials, % of revenue	–	–	22.7%	7.7%	9.2%	8.4%	8.3%	8.2%	8.1%	7.1%
Employee costs, % of revenue	–	–	10.9%	11.5%	77.5%	20.2%	11.7%	10.8%	11.9%	10.6%
Other expenses, % of revenue	–	–	47.3%	49.2%	132.9%	63.5%	52.1%	51.4%	53.4%	50.8%
Depreciation and amortisation	138	154	191	542	575	614	753	1,219	1,280	1,270
Operating profit after depreciation	175	248	395	534	−910	−509	294	591	262	825
Other income	62	31	33	38	469	326	79	157	174	184
Finance costs	81	84	128	482	498	498	572	791	810	733
Share of profit of joint ventures and associates	–	−1	–	–	–	–	–	–	–	–
Profit before one-off items and tax	157	196	300	90	−938	−681	−198	−44	−374	276
One-off items	−4	−1	0	0	0	0	−11	0	0	−49
Profit before tax	153	195	300	90	−938	−681	−209	−44	−374	227
	57	70	–	63	−191	−192	127	−11	−93	51
Current tax	–	49	–	30	−1	1	2	3	6	−1
Deferred tax	–	22	–	33	−190	−194	125	−14	−100	52
Share of profit of joint ventures and associates	–	–	−1	−1	−1	–	–	–	–	–
Profit from discontinued businesses	–	–	–	–	–	–	–	–	–	157
	96	125	184	27	−748	−489	−336	−33	−281	333
Belonging to the company's shareholders	96	125	184	26	−748	−488	−335	−32	−280	334
Belonging to outside owners of subsidiaries	–	–	–	0	0	0	−1	−1	–	−1
Other comprehensive income	–	–	−13	−7	0	−2	1	1	0	−4
Total comprehensive income	–	–	171	20	−748	−491	−335	−32	−281	329
Net margin	4.5%	5.3%	6.0%	0.8%	−267.2%	−36.7%	−9.0%	−0.5%	−4.9%	–
Net margin without joint ventures and associates	–	5.4%	6.0%	0.8%	−267.0%	–	–	–	–	–

Materials, employee costs and other expenses are shown for the years they add up to operating expenses; for the years to Mar 2017 and Mar 2018 they do not, so they are left blank. Tax is left blank for the year to Mar 2019: profit before tax less the tax charge stated does not come to the profit after tax the same statement states, so the tax charge is not shown. Share of profit of joint ventures and associates is left blank for the year to Mar 2025: the filing states 0 for this share both for the period and for the year so far, which the form also writes for a line it does not fill, while the company's other filings for the same year show it was not 0 over those months. Net margin is left blank for the year to Mar 2026: the profit includes the result of a business the company has discontinued, which the revenue does not, so the two make no margin.

Balance sheet

Consolidated, ₹ crore, at 31 March.

₹ crore	Mar 2019Filed 10 May	Mar 2020Filed 9 Jun	Mar 2021Filed 2 Jun	Mar 2022Filed 10 May	Mar 2023Filed 16 May	Mar 2024Filed 15 May	Mar 2025Filed 10 Jun	Mar 2026Filed 11 May
	1,496	1,481	1,833	1,370	7,329	7,323	7,053	7,379
	1,239	1,480	1,833	1,370	7,330	7,324	7,052	7,379
Share capital	47	51	61	61	98	98	98	98
Reserves	1,193	1,429	1,773	1,309	7,232	7,225	6,953	7,281
Belonging to outside owners of subsidiaries	257	0	0	0	−1	0	2	0
	1,104	1,101	1,101	1,505	1,793	1,718	1,491	759
Repayable after a year	1,019	913	980	1,033	1,272	1,047	920	459
Repayable within a year	85	187	121	472	520	670	571	299
	1,053	1,290	1,131	1,434	2,051	2,350	2,498	2,352
Trade payables	368	312	203	300	514	651	752	595
Other financial liabilities	361	509	586	393	780	792	949	1,151
Other liabilities	236	278	216	267	202	191	187	264
Provisions	3	4	4	3	35	46	38	43
	1,360	4,658	4,539	4,521	7,096	7,147	6,711	5,882
Other financial liabilities	42	104	3,487	3,464	5,793	6,073	5,767	5,387
Other liabilities	185	3,626	52	12	0	10	8	1
Provisions	18	14	18	10	28	14	15	35
Deferred tax	95	1	1	3	3	3	1	0
Total assets	3,909	7,429	7,503	7,326	16,476	16,820	16,262	15,612
	3,516	6,676	6,500	6,460	15,627	15,827	15,181	14,500
Plant in use, after depreciation	1,490	1,636	1,490	1,518	2,943	3,106	3,031	2,873
Plant being built	221	155	217	64	247	246	96	32
Intangible assets	199	193	177	159	148	138	126	116
Goodwill	1,112	1,052	1,052	1,052	5,743	5,743	5,743	5,737
Property held to earn rent	–	–	0	0	0	0	15	14
Investments	10	1	0	0	0	0	1	2
Loans given	230	240	247	1	0	0	0	0
Other financial assets	22	22	22	257	463	431	432	424
Deferred tax	11	206	399	595	477	491	589	518
Other assets	221	3,171	2,895	2,813	5,606	5,672	5,149	4,784
	393	754	1,002	866	850	994	1,081	1,112
Inventories	30	31	25	34	66	73	80	73
Trade receivables	184	189	31	71	182	235	243	267
Cash and cash equivalents	28	316	556	501	333	393	523	588
Other bank balances	6	7	176	77	29	11	6	3
Current investments	1	1	1	0	0	16	0	0
Loans given	12	9	8	2	3	2	2	1
Other financial assets	21	25	20	36	6	51	21	9
Other assets	111	176	187	145	229	214	207	170
Net debt	1,069	777	369	927	1,431	1,298	962	167

Borrowings are counted again inside the liabilities due within a year and after a year. No balance sheet is on record for the years to Mar 2017 and Mar 2018, so its lines and the ratios worked from it are blank there.

Cash flow

Consolidated, ₹ crore, years to March.

₹ crore	Mar 2021Filed 2 Jun	Mar 2022Filed 10 May	Mar 2023Filed 16 May	Mar 2024Filed 15 May	Mar 2025Filed 10 Jun	Mar 2026Filed 11 May
	−382	167	864	1,979	1,967	2,160
	−382	167	922	1,946	2,011	2,160
	−65	−83	−197	81	340	24
Receivables	142	−48	−97	−86	−27	−47
Inventories	0	−10	−12	−6	−8	−7
Payables	−212	−48	−25	171	321	24
Other working capital	4	23	−63	2	53	53
Tax paid	0	0	0	33	−44	0
Capital spending	117	125	636	634	334	259
Free cash flow	−499	42	228	1,345	1,633	1,902
	−289	−3	−576	−627	−303	−29
Plant and property sold	0	0	2	8	9	5
Interest received	3	27	9	2	7	13
	1,075	−217	−694	−1,293	−1,535	−2,065
Borrowings raised	1,037	1,620	1,124	1,405	942	340
Borrowings repaid	−860	−1,465	−998	−1,478	−1,170	−1,072
Interest paid	−98	−125	−144	−179	−184	−146
Lease payments	−96	−266	−706	−1,059	−1,126	−1,185
Dividends paid	0	0	0	0	0	0
Shares bought back	0	0	0	0	0	0
Shares issued	1,093	18	31	19	3	0
Net change in cash	404	−53	−405	60	130	66

Capital spending is part of cash from investing, and dividends paid, shares bought back and shares issued are part of cash from financing. Each is shown as an amount on a line of its own, and the section's other items are in its total only. No cash flow statement is on record for the years to Mar 2017, Mar 2018, Mar 2019 and Mar 2020.

Consolidated, ₹ per share, years to March.PVR INOX dividend history

₹ per share	Mar 2017	Mar 2018	Mar 2019Filed 10 May	Mar 2020Filed 9 Jun	Mar 2021Filed 2 Jun	Mar 2022Filed 10 May	Mar 2023Filed 16 May	Mar 2024Filed 15 May	Mar 2025Filed 10 Jun	Mar 2026Filed 11 May
Earnings per share	₹20.18	₹26.68	₹39.29	₹5.50	−₹135.64	–	−₹51.59	–	−₹28.48	₹34.01
Diluted earnings per share	₹20.18	₹26.57	₹39.04	₹5.47	−₹135.64	–	−₹51.59	–	−₹28.48	₹33.87
Dividend per share	₹2.00	₹2.00	₹2.00	₹4.00	–	–	–	–	–	–
Book value per share	–	–	₹265.19	₹288.26	₹301.74	₹224.66	₹748.19	₹746.27	₹718.08	₹751.40
Dividend payout	9.8%	7.5%	5.1%	77.8%	–	–	–	–	–	–
Shareholder yield	–	–	–	–	−16.2%	−0.2%	−0.2%	−0.1%	0.0%	0.0%
Market cap at the year end (₹ crore)	6,689	5,680	7,696	6,077	6,765	11,717	12,967	13,015	8,961	9,021

Earnings per share is left blank for the years to Mar 2022 and Mar 2024: the earnings per share stated has the opposite sign to the profit stated beside it, so it is not shown.

Ratios

Consolidated, years to March.PVR INOX PE ratio and valuation

Ratio	Mar 2017	Mar 2018	Mar 2019Filed 10 May	Mar 2020Filed 9 Jun	Mar 2021Filed 2 Jun	Mar 2022Filed 10 May	Mar 2023Filed 16 May	Mar 2024Filed 15 May	Mar 2025Filed 10 Jun	Mar 2026Filed 11 May
Revenue growth	–	10.1%	32.2%	10.7%	−91.8%	375.3%	181.8%	62.8%	−5.4%	–
Operating profit growth	–	28.1%	45.9%	83.6%	–	–	890.9%	72.8%	−14.8%	–
Net profit growth	−19.3%	30.2%	47.3%	−85.4%	–	–	–	–	–	–
Earnings per share growth	−20.7%	32.2%	47.3%	−86.0%	–	–	–	–	–	–
	–	–	14.8%	1.9%	−45.1%	−30.5%	−7.7%	−0.4%	−3.9%	4.6%
	–	–	–	−12.9 pts	−47.1 pts	14.7 pts	22.8 pts	7.3 pts	−3.5 pts	8.5 pts
From the net margin	–	–	–	−12.9 pts	−672.5 pts	38.9 pts	23.1 pts	7.3 pts	−3.6 pts	–
From asset turnover	–	–	–	−0.5 pts	628.8 pts	−23.5 pts	−5.6 pts	−0.1 pts	0.2 pts	–
From borrowing	–	–	–	0.5 pts	−3.4 pts	−0.8 pts	5.3 pts	0.1 pts	0.0 pts	–
Return on capital employed	–	–	15.2%	20.7%	−31.0%	−17.7%	3.2%	6.5%	3.1%	10.1%
Cash conversion	–	–	–	–	–	–	–	–	–	649.1%
Interest cover	2.2	3.0	3.1	1.1	–	–	0.5	0.7	0.3	1.1
Debt to equity	–	–	0.74	0.74	0.60	1.10	0.24	0.23	0.21	0.10
Receivable days	–	–	22	20	40	19	18	14	15	15
Inventory days	–	–	16	42	354	112	78	53	63	57
Payable days	–	–	191	432	2,879	983	605	476	587	462
Cash conversion cycle, days	–	–	−154	−370	−2,485	−851	−509	−409	−510	−391
Working capital days	–	–	−72	−72	−964	−185	−101	−66	−87	−84
Asset turnover	–	–	0.79	0.60	0.04	0.18	0.32	0.37	0.35	0.42
Assets per rupee of net worth	–	–	3.15	4.17	4.51	4.63	2.74	2.27	2.30	2.21
Sales per rupee of plant	–	–	2.07	2.09	0.19	0.88	1.27	1.97	1.91	2.31
Capital spending to depreciation	–	–	–	–	0.20	0.20	0.84	0.52	0.26	0.20
Plant being built, % of plant in use	–	–	14.8%	9.5%	14.6%	4.2%	8.4%	7.9%	3.2%	1.1%

Revenue growth and operating profit growth are left blank for the year to Mar 2017: between the two periods the company restated its earlier figures, so the two are on different bases and the change is not worked out. Interest cover is left blank for the years to Mar 2021 and Mar 2022: operating profit after depreciation is a loss, and a loss covers no interest bill. From the net margin, from asset turnover and from borrowing are left blank for the year to Mar 2026: the profit of this year or the year before includes a business the company has discontinued while its revenue does not, so the change in return on equity is not split into margin, turnover and borrowing. Revenue growth and operating profit growth are left blank for the year to Mar 2026: between the two periods the company restated its earlier figures and the company began reporting a business as discontinued, so the two are on different bases and the change is not worked out. No balance sheet is on record for the years to Mar 2017 and Mar 2018, so its lines and the ratios worked from it are blank there.

Growth and returns over 3, 5 and 10 years

Consolidated: the company and its subsidiaries together. Each window ends with the year to Mar 2026.

Return on assets, latest year: 2.1%
Cash from operations against operating profit: 103.1%

Measure	10 years	5 years	3 years
Revenue growth, yearly rate	13.5%	88.4%	21.0%
Profit growth, yearly rate	10.9%	–	–
Return on equity, average	–	−7.6%	0.1%
Return on capital employed, average	–	1.1%	6.6%
Operating margin, average	8.7%	24.7%	29.3%
Net margin, average	−33.5%	−12.8%	−2.7%
Asset turnover, average	–	0.33	0.38
Cash conversion cycle, days, average	–	−534	−436
Interest cover, average	–	0.7	0.7
Debt to equity, average	–	0.38	0.18

Where the cash came from and went

Consolidated: the company and its subsidiaries together. ₹ crore, added up over each window, which ends with the year to Mar 2026.

₹ crore	5 years	3 years	Latest year
Cash from operations	7,137	6,106	2,160
Cash from investing	−1,537	−959	−29
Cash from financing	−5,803	−4,892	−2,065
Capital spending	1,987	1,227	259
Dividends paid	0	0	0
Shares bought back	0	0	0
Shares issued for cash	71	22	0
Borrowings raised	5,430	2,686	340
Borrowings repaid	6,182	3,719	1,072

Accounting checks

Consolidated, years to March. Published tests of whether reported profit is backed by cash and the balance sheet.

Check	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Piotroski score, out of 9Published threshold 3 points out of 9	–	–	–	–	2	5	6	6	5	9
Altman Z-scorePublished threshold 1.1	–	–	1.27	0.93	0.60	0.15	1.94	1.98	1.81	2.35
Beneish M-scorePublished threshold −1.78	–	–	–	–	−3.04	−0.04	−1.00	−2.72	−3.11	−2.92
Profit not backed by cash, % of assetsPublished threshold 10 per cent of average total assets	–	–	–	–	−1.03	−8.80	−5.25	−8.32	−11.76	−11.28
Cash from operations to profit, 3 yearsPublished threshold 0.7 times	–	–	–	–	–	–	–	–	–	318.03
Receivables growth less revenue growthOur threshold 0 percentage points	–	–	–	−7.72	8.02	−244.91	−23.76	−34.27	8.94	−5.03
Inventory growth less cost-of-goods growthOur threshold 0 percentage points	–	–	–	63.52	71.58	−295.73	−84.15	−51.77	17.03	−9.18
Other current assets growth less revenue growthOur threshold 5 per cent of revenue	–	–	–	2.03	1.84	−1.95	1.47	0.48	−0.65	−0.73
Assets under construction, years of additionsOur threshold 2 years of additions	–	–	–	0.22	0.51	0.10	0.11	0.18	0.08	0.03
Effective tax ratePublished threshold 17.16 per cent	37.29	36.09	36.53	69.61	–	–	–	–	–	22.39
Tax charged less tax paid, % of profitOur threshold 10 percentage points	–	–	–	–	–	–	–	–	–	22.34

A threshold marked as ours has no published figure; it is the line we read the check against.

Credit ratings

An agency's view of the chance the company repays a borrowing on time, from AAA, the highest, down to D, in default.

Date	Agency	Borrowing rated	Rating	Outlook	Amount, ₹ Cr
27 Feb 2026	CRISIL Ratings Limited (opens in a new tab)	Bank Facilities	Crisil AAReview, Re-affirm	Stable	87.50
27 Feb 2026	CRISIL Ratings Limited (opens in a new tab)	Non Convertible Debentures	Crisil AAReview, Re-affirm	Stable	5
27 Feb 2026	CRISIL Ratings Limited (opens in a new tab)	Bank Facilities	WithdrawnReview, Other		683.76
27 Feb 2026	CRISIL Ratings Limited (opens in a new tab)	Commercial Paper	Crisil A1+Review, Re-affirm		200
27 Feb 2026	CRISIL Ratings Limited (opens in a new tab)	Bank Facilities	Crisil A1+Review, Re-affirm		5
14 Aug 2025	India Ratings and Research Private Limited (opens in a new tab)	Bank loan facilities	IND AA; IND A1+Review, Re-affirm	Stable	65

The latest rating on each borrowing. The agency's name opens its reasoning for the rating.