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Prabhudas Lilladher Report
Inox Leisure Ltd.’s operational performance was subdued with Ind-accounting standard adjusted Ebitda loss of Rs 644 million due to paucity of content and prevailing occupancy caps.
However, with Maharashtra, a key market for Hindi movies, having opened cinemas from October 22, many production houses have announced their release schedules.
For instance, potential blockbusters like Sooryavanshi, 83, RRR, Prithviraj, and Laal Singh Chaddha are scheduled to release in H2 FY22 indicating that content pipeline is extremely strong.
Further, with pick up in vaccination drive and receding Covid-19 cases we expect gradual relaxation in occupancy caps which will be a positive for Inox Leisure.
In fact, states like Andhra Pradesh, Karnataka, Orissa, Rajasthan and Telangana are already operating at 100% occupancy and more can follow suit in near term.
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