Motilal Oswal: PVR’s Sharp Cost Measures Cushion Losses  
Yellow warning tape seals off auditorium seats to implement safe distancing measures at a film theater in the PVR Icon cinema at the DLF Promenade Mall in New Delhi, India. (Photographer: Anindito Mukherjee/Bloomberg)

Motilal Oswal: PVR’s Sharp Cost Measures Cushion Losses  

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.

Motilal Oswal Report

With lockdown in force for the majority of the quarter, PVR Ltd.’s revenue plunged 96%; however, a sharp 83% cut in opex cushioned Ebitda loss (pre-India-Accounting Standard-116) to Rs 810 million (better than estimated Rs 1 billion).

We cut our FY21E/FY22E Ebitda by a further 37%/6% -- factoring in the delay in the resumption of cinema operations across India -- reaching Ebitda of Rs 5.8 billion by FY22 (at FY20 levels, even after 12% capacity adds).

Click on the attachment to read the full report:

Motilal Oswal PVR Q2FY21 Result Update.pdf


This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the brokerage and do not represent the views of BloombergQuint.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.