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Inox Leisure Q2 Review - All Set For Revival: IDBI Capital

Inox Leisure Q2 Review - All Set For Revival: IDBI Capital

Inox Megaplex in Mumbai. (Photo: Twitter/@INOXMovies)
Inox Megaplex in Mumbai. (Photo: Twitter/@INOXMovies)

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

IDBI Capital Report

Inox Leisure ltd. reported a better than expected Q2 FY22 results, revenue was Rs 474 million versus Rs 4 million in Q2 FY21. Ebitda (adj. for Ind-AS) declined in Q2 FY22 to Rs 645 million versus a decline of Rs 338 million in Q2 FY21, was also better than our expectation.

With the opening of cinemas across the country, easing of lockdown and line-up of robust content we expect INOL to witness recovery in coming quarters. We expect the company to add screens to pre-Covid level in FY23.

This coupled with increasing contribution from non-cinema content (like T20 cricket and gaming), receding competition from single screen theatres and strong screen addition pipeline prompts us to be positive on the stock

Click on the attachment to read the full report:

INOL-RR-23102021.pdf

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