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Nirmal Bang Report
PVR Ltd. and Inox Leisure Ltd. were up approximately 21% and approximately 19% in Q2 FY21 after declining in Q1 FY21 by approximately 15% and 13%, respectively.
However, share prices for both the companies are still below pre-Covid-19 levels.
Inox Leisure and PVR will report another quarter of negligible revenues, as cinemas remained shut for the entire quarter.
However, after two consecutive quarters of despair, the Ministry of Home Affairs at the centre has allowed opening up of multiplexes with effect from October15, 2020, with 50% seating capacity.
Subsequently, certain standard operating procedures for the theaters have also been released.
The opening up is still subject to the stance of individual state governments. While Maharashtra has indicated that it will keep cinemas closed till the end of October, Tamil Nadu and Delhi governments are yet to spell out their stance.
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