Inox To Add 850 Screens, Plans All-Kids Theaters
Inox Leisure Ltd. said it will add around 850 screens across India and bring in new formats including an all-kids theatre in the coming years, as the country’s second-largest multiplex chain plans expansion.
“Going forward, we have got a slate of about 850 screens, which are already signed,” Inox Leisure’s Chief Executive Officer Alok Tandon told BloombergQuint, adding that the company is looking at various new formats like Insignia—its premium luxury multiplex screens—and a special kids theatre.
Tandon said that Inox’s expansion plans are not region-centric and that the company is looking to tap the markets pan-India, from Tier-1 to Tier-4 cities. The special screen formats would depend upon the requirement and the demand pertaining to the location, he said.
“It depends on where we are, ... (the need for its special programs) will keep on changing from city to city and even within a city, from multiplex to multiplex,” Tandon said.
Tandon showed confidence in the company’s balance sheet, noting that the results so far have been robust in all segments. He said he expect Inox to reflect similar growth in the upcoming earnings as well.
- Results are improving in all three segments—box office sales, food and beverages, advertisement revenue.
- Pricing on-point with the property cost structure and paying propensity of the customers.
- Says Inox has a strong balance sheet, with paltry amount of debt—a part of which has been taken care of.
- Focussing on enhancing customer experience.