pvr: PVR-Inox merger proposal gets Sebi, stock exchange nods Whats ahead? The Economic Times

The above stocks were picked from the brokerage report of Emkay Global. Greynium Information Technologies, the author, and the brokerage house are not liable for any losses caused as a result of decisions based on the article. Voltas Limited is an Indian multinational home appliances company that is contributing significantly to the Indian markets for years. The current market price is Rs. 1047, however, the firm has set a Target Price of Rs. 1000, giving it a hold rating. “In our view, the success of films like The Kashmir Files and Bhool Bhulaiyaa 2 indicates that there is no aversion to the industry, and audiences are willing to back quality content, which has been missing so far. Given the strong content line-up, we do expect Bollywood to bounce back, leading to an improvement in overall box-office collections,” Emkay Global said while suggesting a target of Rs 2,165 on PVR and Rs 640 on Inox.

EBITDA margin improved 211bps YoY to 19.7% due to lower overhead expenses due to GST credits. We expect occupancy levels to improve over the next two quarters helped by a strong Hindi content pipeline. PVR has corrected by almost 16% since the F&B; announcement and is currently trading at inexpensive valuations of 10x/9x based on our FY20/FY21 EV/EBITDA estimates. Usually, a company opens up its ownership to the general public to raise capital.

Should you invest in PVR shares?

The share price of INOX Leisure traded higher than 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. It has gained 14% in the last five sessions, 17% in a month, and 34% since the beginning of the calendar year 2022. The stock price has more than doubled from its 52-week low of ₹241.90 touched on April 19, 2021. Shares of INOX Leisure, an Indian movie theater chain, surged 10% to hit a record high, in an otherwise weak broader market today, driven by heavy volume. The stock of the multiplex operator got a boost after Crisil Ratings upgraded the company’s rating outlook amid improvement in operational efficiency, removal of pandemic-related restrictions, and strong content line up.

Get live https://1investing.in/ Market updates and latest India News and business news on Financial Express. The company had posted a net loss of Rs 87.66 crore in the July-September period a year ago, said Inox Leisure in a BSE filing. Being a responsible corporate citizen, we ensure sustainability through optimum consumption of resources and as a result, during FY22 also we have utilised 3,538 T of plant returned scrap for melting. We are also striving to ensure zero work related accidents and is also committed towards well-being of its employees. Most of our employees are fully vaccinated at vaccination drive organised by your Company.

“The operating margin may also benefit from some of the cost-control measures undertaken over the last two years, which are expected to sustain longer,” it said. Our performance reflects our commitment to meet the needs of our customers and emerge as the catalyst for overall growth. While we are witnessing elevated inflation and supply chain challenges, we are highly optimistic due to the transformation of Indian Defence Industry in recent times. The various initiatives launched by our Government continues to provide impetus to us in our efforts to be the ‘National Centre for Excellence in Materials’ in our country and to cater to the needs of the strategic sectors of our country.

However, these challenges notwithstanding, FY22 has been the second consecutive year where MIDHANI’s perseverance and resilience has helped achieve new milestones with highest ever sales turnover of Rs 85,949.02 Lakh. Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes. Services (Consultancy services to Govt. & private organizations, reality capture data processing software, anti-drone solution for rogue UAV and UTM air traffic management solution). ZEISS Digital lenses A digital lens designed to include shorter reading distances.

FINANCIAL ANALYSIS

ATP/SPH growth was healthy at 10%/12% yoy, partially attributed to premium screen additions and price hikes in renovated screens at key locations. The management delivered on its 20% ad growth guidance for FY18. The management remains confident of adding 90+ screens in FY19. But, we continue to remain conservative and project 66 additions in FY19. After record high capex of Rs3.5bn in FY18, the company has raised capex guidance for FY19 to Rs4-4.5bn. Our footfalls growth assumptions stand at 5%/9% for FY19/20E, as we expect revival in…

PVR’s Q1FY19 result was a beat to our forecast as regards EBITDA and EPS. This was mainly driven by higher growth in footfalls and advertisement revenue vs. our forecast and a YoY decline in repairs & maintenance cost. Outcome of the PIL as regards allowing outside F&B; and news of risks from government interfering with pricing of F&B; weighs on the valuation of PVR in the near term. We believe that in case of a court process is followed multiplex players are on a strong footing. While we fine tune our EBITDA and EPS forecast for FY19/20E, given the uncertainty… Thanks to its spherical design, ZEISS Single Vision Lenses are often prescribed to correct ametropia; or it is used as single vision reading glasses.

from the last price of 1463.15.

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• However, CCI remains a key monitorable until the merger ends, given its power to step in at any time during the merger, the brokerage added.

212 in line with our expectations, aided by the star studded release of Tiger Zinda Hai, Golmaal Again and Judwaa 2 during the quarter.

• Its Natural Gas and Electricity segment markets natural gas and electricity to residential and commercial customers in the deregulated energy markets in New York and Pennsylvania.
• The pandemic taught us to navigate uncertainty and anticipate the unexpected as an unavoidable part of doing business, which helped build our resilience and is reflected in the Company’s performance.
• As on 1st May 2023, the P/E ratio for Suburban Propane Partners LP shares is null.

ICICIdirect.com is a part of ICICI Securities and offers retail trading and investment services. The two prominent stock exchanges in the Indian stock market are the National Stock Exchange and the Bombay Stock Exchange . The benchmark equity index of the NSE is Nifty50 and BSE is Sensex. SPH International Private Limited is a Non-govt company, incorporated on 02 May, 1995. It’s a private unlisted company and is classified as’company limited by shares’.

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“We expect ATP growth to probably accelerate a tad in the FY20-FY24 timeframe to catch up a bit with inflation, but we think both SPH and advertising rates will probably compound at slower rates than in the past. We believe that ad rates can increase the fastest among the three,” Nirmal Bang said. Advertising revenue per screen CAGR, it said, seems higher because of a very low base, premiumisation of screens and increase in advertising minutes.

SHAREHOLDING PATTERN

Limited box-office success resulted in lower occupancy (29.6% vs. 32% YoY) and flattish footfalls, despite ~8% increase in screens. Revenue grew 21% YoY to INR5,849m (in-line), primarily led by a 9% YoY increase in the average ticket price to INR206, partly offset by a 2% YoY dip in footfall to 15.6m. EBITDA doubled YoY to INR944m (21% beat), with the margin expanding ~650bp to 16.1% . For FY18, revenue grew 10% to INR23,341m (in-line), EBITDA increased 28% to INR4,018m (6% beat) and PAT rose 30% to INR1,248m (21% beat).

• INOX Leisure shares opened higher at ₹450 and gained as much as 9.98% to touch a 52-week high of ₹486.90 on the BSE.
• “The revision in outlook reflects strong rebound in the operating performance of ILL during the third quarter of fiscal 2022.
• Outcome of the PIL as regards allowing outside F&B; and news of risks from government interfering with pricing of F&B; weighs on the valuation of PVR in the near term.
• Pros / cons are based on a checklist to highlight important points.
• The high margin advertising business is lagging the recovery in BO and F&B segments by 3-4 months.
• Considering the performance, the company’s EBITDA margins have declined sharply by 268bps YoY to 9.8% due to lower gross margins amid commodity inflation and heightened competitive intensity.

As of June 31, 2022, Gray Birch held 22,06,743 equity shares or 3.61% in PVR, while Plenty Private Equity FII I held 15,24,998 equity shares or 2.50%, and Plenty Private Equity Fund I held 21,52,517 equity shares or 3.52%. Stove Kraft Ltd share price was up by 5.99% from the previous closing price of ₹391.30. Yes, you can buy Suburban Propane Partners LP shares in India by simply opening an account with Scripbox. Enterprise Value is a measure of a company’s total value, often used as a more comprehensive alternative to equity market capitalization. Enterprise value includes in its calculation the market capitalization of a company but also short-term and long-term debt as well as any cash on the company’s balance sheet.

About Suburban Propane Partners, L.P

Investing.com – POSCO reported on Tuesday second quarter erl-21260||earnings that beat analysts’ forecasts and revenue that topped expectations. Investing.com – Suburban Propane Partners LP reported on Thursday fourth quarter erl ||earnings that missed analysts’ forecasts and revenue that topped expectations. Movie buffs, rejoice now as there’s no need to worry for last moment movie ticket booking!

PVR and Inox Leisure have received approval from Sebi and stock exchanges regarding the proposed merger, three months after the merger announcement. The contents herein above shall not be considered as an invitation or persuasion to trade or invest. I-Sec and affiliates accept no liabilities for any loss or damage of any kind arising out of any actions taken in reliance thereon. Please note Brokerage would not exceed the SEBI prescribed limit. Investments in securities market are subject to market risks, read all the related documents carefully before investing. During the day, PVR shares dropped around 5% on Dalal Street.

However, the EMPS segment margins were relatively better at 6.9%. Management has commented that it has taken measures to regain lost market share and targets to reach the prior levels by Jun’22. “We believe that a turnaround in Bollywood’s fortunes is critical for sustaining box-office collection growth, as performance of regional movies (south and non-south) beyond their core markets is generally sporadic in nature,” the brokerage added. Check out all the key market movements, latest news, updates, and analysis about the share market today. Get a variety of tools, resources, research, and live market commentary you need to stay on top of the stock market. Axis Bank shares fall 3% on ₹5,3612 crore loss in March quarter The private lender’s Q4 profit was impacted by ₹12,490 crore payout towards the Citi acquisition.

how to know when options are expensive or cheap reported Q1 EPS of $0.71, $0.28 worse than the analyst estimate of $0.99. Revenue for the quarter came in at $397.47 million versus the consensus estimate of… Tata-owned Trent drops 3% as pocket-friendly Zudio hits margins The decline in gross margin can be attributed to the increased revenue share from Zudio, says ICICI Securities. Crisil has revised upwards its rating outlook on the long-term bank facilities of INOX Leisure to ‘stable’ from ‘negative’ and has reaffirmed its ‘CRISIL A+’ rating. During the July-September quarter, 11.6 million guests visited Inox cinemas and reported “ATP of Rs 215 and the highest ever quarterly SPH at Rs 102”. On behalf of the Board, I want to express my deepest gratitude to the frontline workers who were engaged in the battle against COVID-19.

MIDHANI continues to cater to the requirements of our strategic sectors and during the year we have made significant contributions to the Government’s vision to shape a new India which is self-reliant. We have also developed titanium rings for use by National Institute of Ocean Technology in the programme for sending humans to deep sea. During the fiscal, the Company has paid an interim dividend of H1.56 per equity share and further proposes to pay another Rs 1.54 per equity share as final dividend. The total dividend for the financial year is Rs.10 per equity share (par value Rs 10/- each).

Inox Leisure, which operates 667 screens in 70 cities as of December 2021, posted the highest-ever quarterly average ticket price at ₹226 along with a highest-ever quarterly spends per head at ₹97, compared to ₹200 and ₹80, respectively, during fiscal 2020. Besides, cash and bank balance, undrawn committed bank lines, and other liquid investments stood at around ₹281 crore as of January 31, 2022, which should sufficiently cover the debt obligation and capital expenditure in fiscal 2023, the report noted. The rating agency expects business to improve further in the coming quarters, supported by the uplifting of pandemic-related restrictions and a strong content line up ready to be released over the next few months.

Bollywood accounted for 60 per cent of the overall collections for the film exhibition industry in the 16 quarters prior to the pandemic. If you want to trade shares in the stock market, you need to have a demat account and a trading account. A demat account helps you store the shares in a dematerialized format. You need a trading account to facilitate buying and selling shares in the stock market. You also need a bank account to provide money for the transactions. Thus, the two accounts work in tandem to help you trade shares on the stock market.

The rally in INOX Leisure shares can be attributed to rating upgrade and recovery in business with easing Covid-19 restrictions. The company reported a strong recovery in December quarter earnings, led by sharp rise in average ticket prices and spends per head on food & beverages. ATP growth for the quarter grew 6.5% YoY to | 212 in line with our expectations, aided by the star studded release of Tiger Zinda Hai, Golmaal Again and Judwaa 2 during the quarter. Footfalls declined 2.8% YoY to 17.4 million , in line with our expectations, on account of content heavy base (Dangal, MS Dhoni, Ae Dil Hai Mushkil, etc.). Net box office collections came in at | 293.1 crore, up 8.9% YoY, aided by strong growth in ATP. PVR reported revenue growth of 9.4% YoY on back of higher Net box office collection and better F&B; revenue.