PVR Inox share price jumps 26% in 3 months on solid show by Gadar 2, Jailer, Pathaan; more upside left?

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₹410 crore and ₹290 crore, respectively. Also Read: Buy TCS, LTIMindtree, Infosys; Sell Wipro, Tech Mahindra, says Goldman Sachs as it initiates coverage on 6 IT stocks So far, six movies have already breached the net box office collection (NBOC) mark of ₹100 crore in Q2FY24. In fact, given sharp turn-around in Bollywood, industry wide NBOCs stood at around ₹1,830 crore in the first two months of Q2FY24, according to brokerage firm Prabhudas Lilladher.

This is as compared to the industry wide NBOC of around ₹1,870 crore and ₹1,860 crore in Q2FY23 and Q1FY24, respectively. Moreover, movies like Dream Girl-2, Jawan and Salaar are set to release in Q2FY24. Further, flicks like Gadar-2, Oh My God-2 and Jailer are still continuing their theatrical run and thus we expect industry wide NBOCs to be healthy in this quarter.

Also Read: Gadar 2 Box Office collection Day 13: Sunny Deol's blockbuster all set to cross ₹420 crore On a conservative basis, if we assume industry NBOC of ₹750 crore in the balance 38 days (August 24 to September 30), Q2FY24 may well end with a figure of ₹2,580 crore. In Q1FY24, PVR-Inox’s share in industry-wide NBOC was around 37%. “Based on these assumptions NBOC of PVR-Inox might well turn out to be ₹830 crore in Q2FY24.

Assuming a 3% sequential growth, net ATP can be at ₹211. This would imply footfalls of 39.2 million in Q2FY24," said Jinesh Joshi - Research Analyst, Prabhudas Lilladher. If footfalls indeed turn out to be 39.2 million (10% short of Q1FY23), Q2FY24 might well turn out to be an exceptionally strong quarter, if not the best ever, Joshi added.