Menu

Inox Leisure reported its highest ever revenue of Rs.589 Cr. in Q1FY23.

Inox Leisure reported its highest ever revenue of Rs.589 Cr. in Q1FY23.

Inox Leisure reported its highest ever revenue of Rs.589 Cr. in Q1FY23.

In Q1, Inox Leisure reported the highest revenues of Rs. 589 crore and a profit of Rs. 74 crore. The company reported an EBITDA of Rs 130 Cr. with a footfall of 18.4 million. The year-ago quarter was affected by the second COVID wave, with Q1FY23 being the first quarter of full operations. This is largely due to the flow-through of greater revenue and the continuous benefits of cost optimization. Rentals are likely to normalise to pre-Covid levels by the end of this quarter. The company recorded its highest ever average ticket size of Rs. 229 in Q2 FY23.

 

The blockbuster movies contributed significantly to higher revenue.

The quarter witnessed chartbuster movies like RRR, KGF: Chapter 2, Vikram, Bhool Bhulaiya 2, and Doctor Strange In The Multiverse of Madness. The company saw record ticket prices and revenue. The stock recorded a big beat in 1QFY23 revenue. The company delivered its best-ever quarterly performance. The spending per head was at Rs.96 in June 2022, up by 19% from Q1 FY20. The company now operates on 692 screens across 163 multiplexes in 73 cities. The company intends to add 13 more properties and 60 screens. The advertising revenue is slowing signs of recovery.

Inox Leisure added 3 new properties in June 2022 with 17 screens each, at AIPL Joystreet, Gurugram; Orchid Mall, Kalaburagi; and Sattva Necklace Mall, Hyderabad. This indicates the company’s expansion focus and intent to reach new markets. The management is confident about the business and expects a great turnaround in the business going forward thanks to a fascinating content schedule in the upcoming quarter with releases like Laal Singh Chaddha, Raksha Bandhan, Liger, Brahmastra, and Vikram Vedha.

The outstanding box office performance was appropriately complemented by the company’s phenomenal performance across the F&B counters. The redesigned approach for F & B, supported by strategic promotions and innovations, has resulted in a soaring F & B revenue of Rs 164 Cr. INOX continued its focus on the consumer front by expanding its merchandise business, where INOX admirers can buy products and feel connected with their favourite super heroes.

 Valuations:

The EPS for the company is at Rs. 4.67 compared to Rs. -2.30 in the previous quarter. ROCE and ROE for the company are at-1.57% and -38.1%, respectively.  P/E ratio for the company is 20.17 times. While, the 5 years P/E ratio is 22.2 times and 3years P/E is at -9.50 times. The debt to equity ratio for the company is 4.26, and the return on assets is -17%. The scrip was trading at Rs. 592, down by 1.85% on Thursday.

 

Related Posts

LEAVE A COMMENT